180 STEEM + 40 Bonuses ~ Sponsored Writing Contest: GoChain

originalworks (69) in crypto • 7 years ago (edited)

Welcome to the @OriginalWorks sponsored writing contest!

Status: CLOSED.

Accepted Languages:

English

Start Time: 6 PM ET, Friday
End Time: 6 PM ET, Monday

This is a call to all great Steemit writers! GoChain has sponsored a Steemit writing contest!

Prizes: 180 STEEM + 40 Bonuses

1st Place: 32 STEEM
2nd Place: 25 STEEM
3rd Place: 22 STEEM
4th Place: 18 STEEM
5th Place: 15 STEEM
6th Place: 13 STEEM
7th Place: 11 STEEM
8th Place: 9 STEEM
9th Place: 8 STEEM
10th Place: 7 STEEM
11th - 15th: 4 STEEM
16th - 55th: 1 STEEM Bonus

Deadline: 72 Hours

All articles must be submitted within 72 hours of this post to be considered!

Changes in submission rules below

What is GoChain?

GoChain is a smart contract platform blockchain aimed at solving the issues present in platforms like Ethereum. The Ethereum network has issues with scalability, decentralization and security. GoChain is designed for immediate integration, allowing developers and existing Ethereum projects to shift their projects into GoChain smoothly. GoChain currently has a TestNet that is fully functioning. The prototype currently handles 1300-2400 transactions per second.

https://gochain.io/

Current State of Ethereum & DAPPs

Ethereum led a revolution in the world of cryptocurrencies. There are thousands of projects built on the network with no sign of slowing down. The problem is the number of transactions the network can handle per second, which stands at 13 transactions per second. Given how widely Ethereum is used, this is a small number that is already facing scaling issues.

The GoChain Solution

GoChain aims to solve the issues experienced by the Ethereum network by addressing three key components.

Energy Consumption:

GoChain will be 1000 times more energy efficient. Energy consumption is one of the huge problems faced by many POW networks.

Speed:

Transaction speeds of 100 times. This will allow GoChain to not only improve existing services but also enable new types of projects moving forward.

Decentralization:

The distribution of mining is very uneven. As per the GoChain WhitePaper, " ... time of this writing 4 companies in China account for 70-80% of all the mining activity for all the major coins/tokens including Ethereum." This will be addressed by shifting from POW to POR (Proof of Reputation), which is based on POA(Proof of Authority). With POR, instead of staking computer power, organizations can stake their reputations.

What is Proof of Reputation?

Different blockchains depend on various consensus algorithms to confirm transactions. The two most common being Proof-of-Work and Proof-of-Stake. GoChain works on Proof of Reputation (POR). POR will work with businesses and organizations staking their reputation in order to validate blocks. This is an upgrade to the existing concept of Proof of Authenticity (POA). The key difference is that POR never depends on an individual, but rather on entire companies. A natural incentivization system occurs, as companies have a bigger downside than individuals in the case that the trust is breached. The companies chosen to play the roles of validators will be distributed across 50 different countries to ensure a form of decentralization that is not dependent on any given countries agenda or regulation policies. With this distribution system, the possibility of a 51% attack becomes highly unlikely.

GoChain TestNet

GoChain has a strong beta that has proven to be able to perform 1300 transactions per second.

Below are the stats from a recent 10 hour test run.

GoChain Medium Test Result Publication

GOC Token Sale

GoChain will be starting their pre-sale on May 1st. It will run for two weeks, until May 15th.

The Public Sale will be held for two weeks after that, from May 16th to May 31st.

If you have any questions, the active team will always be happy to answer them on their Telegram!

GoChain Leadership

Chains are only as strong as their strongest links. This also holds true for GoChain. Their team is composed of members with the necessary experience to make GoChain a success. As evident by their TestNet, they are ready to bring GoChain to the forefront of economic, efficient and fair blockchain technology.

Jason Dekker - CEO

Travis Reeder - Chief Software Architect

For a quick introduction, check out this video:

More Information & Resources:

Rules & Submission

Write an article about GoChain and how it will change the world of smart-contract applications. How will having 100x the transaction speed of Ethereum effect use of the blockchain? How will having the ability to move code from the Ethereum blockchain directly to GoChain impact existing companies using Ethereum for their project? What are the advantages of saving 1000x on power consumption? What are the benefits of GoChain’s POR protocol? As always, the contest is open-ended. Have fun and be creative!

Feel free to use images and media from their website. You can even make your own video and have it in your submission! Videos have a chance of winning a separate bonus based on quality. Videos should be uploaded to DTube, or YouTube. If using YouTube please ensure the video is listed properly and does not get removed.
The article must be at least 250 words in length and it is recommended(not mandatory) that the length is under ~1500 words.
At least 70% of the submission must be original. Using "article spinners", and other word substitution tools is also not permitted.
All copied text must be in quotes.
Please keep discussions relevant to the contest topic. We would like to encourage a good vibe in the comments!
To submit please do the following:

Add the word "gochain2018" (without the quotes) at the very end of your article.
Link this post in your submission.
Post the link to your article as a reply to this post.
Resteem this contest post.

How the winners are decided

The submissions will be passed along to the team at GoChain, and they will decide the best articles.

More information & recommendations:

Pay attention to spelling and grammar!
Feel free to use informal language such as "I would, etc"
Use information and resources above to learn more about GoChain!
If you copy something, use quotes. This is an @OriginalWorks contest after all :)
Link the company's website: GoChain so that your readers can do research for themselves.
Articles can be edited up until the deadline.

After writing an article, within a few minutes you should get one of these as a response to your article post:

If you don't get one, let me know by adding a quick message after you submit your link as a reply here and it will be done manually. Sometimes it can take some time, so don't worry if it isn't instant! Rest assured, as long as your link is shared as a reply here, everything is double checked at contest close to ensure that all articles are submitted!

40 submissions will get 1 STEEM each. The article must meet the contest conditions such as word length and a level of quality.

Disclaimer: @OriginalWorks makes no claims as to the legitimacy or operating procedures of contest topics. @OriginalWorks does not offer any sort of investment advice. This is a writing contest. @OriginalWorks does guarantee prize payout. The contest topic company may choose to share the winning contest submissions.