GoChain Wins Free Listing on Binance’s Exchange Through Its Community Coin Competition
GoChain, the platform for digital currency and decentralised applications, has won Binance's most recent community coin competition gaining a free listing on the biggest cryptocurrency exchange. The competition is held monthly in which users can cast their vote for the coin they want listed. Binance users will soon be able to sell crypto for GoChain tokens.
GoChain is a decentralised cryptocurrency and blockchain built on the Ethereum network allowing users to sell Ethereum for GoChain Tokens. The platform has been designed to accommodate decentralised applications built upon smart contracts. GoChain plans to improve the smart contract system and core restrictions that the Ethereum network has encountered such as speed and energy implications.
The Ethereum network can process 13 transactions per second far from the numbers needed to make it scalable globally. GoChain can process transactions of up to 100x faster than Ethereum potentially reaching speeds of 1300 per second whilst using a fraction of the energy. Many concerns in the crypto space emanate from energy usage needed to run the networks. Buying and selling crypto should not impact the environment as negatively as it currently does.
The GoChain network aims to become fully decentralised by distributing nodes to different countries run by unrelated people or companies. This will prevent anyone trying to centralise the network by controlling a majority share of the nodes. Any orders through the network to sell crypto will be processed by these nodes authenticating the transaction.
Many start-up projects are trying to develop blockchain solutions to solve real problems. Ethereum has run into a variety of issues from scaling limitations to bugs that other projects are trying to overcome.
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