The success of this venture lies in the failures of Ethereum. We all know that ETH has far more capabilities than its top contender BTC, in terms of scalability and utility, but even such a robust technology is facing severe congestion and halts due to the very problem. What good is an overcrowded platform if it merely entertains 15 transactions per second?
That is exactly where this project comes into play and in the first test, it successfully carried out 1300 transactions per second, which is truly astonishing. It should be noted that this speed has been improved and the engineers are still working to enhance it further.
It is pretty evident that this young venture offers at least 100 times more speed than ETH and has boosted energy savings to a remarkable level as well, which happens to be about 1000 times. This is also because of its efficient transactions and algorithms where less time is required in order to carry out a contract.
One of the crucial factors that somehow gives us a positive clue regarding GoChain forecast is its decentralization capability. Even though 75% of mining is performed in China where electricity is the cheapest, this platform is not controlled by any regulatory body.
At this point, the entire crypto industry is going through a very volatile period, so it is not rational to roll out any GoChain prediction, especially when the project is so young. But let’s shed some light on a few notable factors to determine its performance and see where the trend is leading.
The token sale ended on 3rd May 2018 and it was indeed a very successful period. They collected $13,685,000 whereas the target was $13,700,000. They were mere $15000 shy of the set target, but that should not be counted as a negative thing. Just look at the whopping sum they collected. As a result, their market cap grew to about 30 million USD (as of 7th July 2018).
Apparently, there is not an obvious factor that could turn this venture upside down. But the possibility of a new project rolling into the market, with a reasonably better technology and a much better marketing strategy could put them in the reverse gear. But nothing to worry about as such, since this probability exists equally for BTC and ETH as well.
No, clearly not. Several ICO review sites have already recorded the appreciation from the community and user engagement on Bitcointalk, Telegram, and other social media platforms is reasonable. It is neither too high, nor shady.
The hype is also normal, but the Return on Investment could be very high, especially for long-term investors. But since the industry is volatile at the moment (more than ever), crypto enthusiasts are encouraged to conduct thorough research before making any investment.
With that being said, it is worth mentioning that this project holds the capability to remodel and represent what BTC aimed in the first place.