GoNetworks: World’s Largest Ethereum Hackathon

GoNetworks

Gonetwork is first mobile network infrastructure for Ethereum that is highly scalable, inexpensive and fast. First use case for GoNetwork will be GoExchange It is the platform for the virtual goods marketplace.

Block Chain And GoNetwork

Block chain technology depends on speed and high cost of transactions. Transactions on block chains like bitcoin are expensive and slow. With growing usage, Ethereum will fare no differently over time. GoNetworks overcome this problem by creating a network for off-chain transactions using state channels .

GoNetwork Master Plan depends on following points:

• Build network infrastructure that can scale Ethereum to massive transactions per seconds on mobile and that should be fast, cheap and have low latency.
• Extend our platform worldwide and to make potential partnership with governments and organizations interested in applying block chain to their infrastructure.
• To bring crypto currency to masses. This can be achieve by developing infrastructure that cheaply scales the transactions per second on Ethereum for mobile platforms.
• Develop the pocket product to penetrate the commerce market.

GoNetwork Design

It is designed for commerce market and trillion dollar mobile economy On the basis of number of off chain transactions completed off chain, state channel ( state channel is a classic way to reduce the workload issues on the block chain) amortize the cost of transaction so in typical high frequency work flows the cost of transaction is several order of magnitude that is lower than transaction on Ethereum directly

GoNetwork Team

The GoNetwork team comprises of entrepreneurs who have created companies serving millions of users and have a proven track record. The core team has been developing mobile apps for over 8 years. More than 15 million people have downloaded and used products.It is the Winning Team at ETHWaterloo, World’s Largest Ethereum Hackathon.

Pocket card

The team plans on launching Gotoken debit card, which will let users spend GoTokens anywhere ang by GoTokens user can purchases apps etc: this debit card be called the Pocket card. This should also create demand for the coin

Token Distribution

• Total token supply: 100,000,000 GOT
• For sale during token sale: 50%
• GO Token type: ERC20
• Purchase methods accepted: ETH

GoToken ERC20

• GoTokens are ERC20 utility tokens used to complete all transactions
• Users convert FIAT into GoToken via the low cost Integrated Payment Platform backed by Stripe, or purchase GoToken directly with their Ethereum wallet.
• Opening or closing a state channel requires a small transaction fee that is paid in GoTokens
• ERC20 is used as a fee to create and close contracts (that will be enforced by the exchange platform) and are indicative of the underlying gas costs to create a State Channel
• The more users will use the service, the more value the token will have.

WEBSITE : https://gonetwork.co/
**Bitcointalk ANN thread : https://bitcointalk.org/index.php?topic=2352537.msg23973678#msg23973678 **
Medium Url : https://medium.com/@gonetwork
Author : https://bitcointalk.org/index.php?action=profile;u=1464237
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