Although bitcoin is a relevant and relatively safe cryptocurrency, there are quite some problems associated with bitcoin such as it is known to be slow and transactions are expensive.
For a cryptocurrency to be affiliated with a mainstream, there are certain features it has to possess such as it must be a fast network and the transaction cost must be minimal. A recent blockchain platform called GoNetwork was developed with the aim of blocking this associated bitcoin issues from plaguing and occurring on the Ethereum.
However, the common problems associated with bitcoin are inevitably going to occur on Ethereum as it continues to gain popularity. GoNetwork is of the opinion that these problems can be averted completely by simply performing the transactions off-chain.
Properties Of The GoNetwork Platform
The GoNetwork platform aims to solve the problem of delayed transaction time and the high cost of transactions on the blockchain network by simply performing these operations off the chain. The overall aim of this GoNetwork platform is to actualize a low rate of inactivity, low charged and an extremely adaptable blockchain network mainly for Ethereum.
The GoNetwork platform project is focusing specifically on accommodating blockchain technology to the market which is mobile as the project will be accessible on desktops, smartphones, and the Web. The GoNetwork project utilizes the fact that the mobile market if fast become one of the fastest markets in the world as the use of mobile devices for browsing is becoming more rampant that desktop browsing all over the world.
Despite the fact that the blockchain technology and the segment of mobile browsing have gained popularity, only a few effects have been made in supporting off the chain networks like Plasma or Raiden.
GoNetwork platform aims to become the first platform to perform this action. A meager fee is required for the commencement and closure of a state chart to perform an off-chain transaction on the GoNetwork platform, and the fees are paid in Gotokens which is an indigenous cryptocurrency.
GoNetwork plans to launch the GoExchange platform which will be a virtual commercial commodities platform. However, this launching will only occur after the development team of the GoNetwork platform completes the framework development that will allow a huge volume of transactions to take place.
GoNetwork platform also plans to launch a platform known as Pocket which will help parents in teaching their children about gamification management and financial articulacy. Pocket solution users will have the ability to create digital debit cards that are assignable and can be used as a means of reward it spending control.
The GoNetwork ICO
The Gotoken is what this platform will operate in, and it will be ready for procurement during the GoNetwork ICO. A public sale launched in the first quadrant of 2017 where there was supposed to be a generation of 100,000,000 Gotoken in the ICO.
Out of the total gotten Gotoken, 50% will be available for purchase, 20% will be reserved for developers, 25% will be reserved for the GoNetwork teams and 5% will be reserved for the advisors. The amount of Gotokens retained for both the GoNetwork team and advisors is a major cause for concern.
GoNetwork GOT ICO Conclusion
Although the GoNetwork ICO is a promising feat, there is still the problem of transparency which this platform lacks in abundance.