ICO Reviews

GoNetwork ICO review: mobile solution to the problem of slow transactions

  • 06.03.2018
  • 311

The problem of transaction speed in the largest networks, such as Bitcoin and Ethereum, is one of the key problems in the cryptocurrency world. As the popularity of the system grows, and more and more users join it, the load on the network also increases, which leads to a slowdown. Originally developers have designed Bitcoin not for such loads, the Ethereum, despite optimizing, drags 90% of the ICO of other tokens on itself, and even supports games like Cryptokitties.

Solutions to the speed problem simply had to appear in the nearest time. The first was the Lightning Network, which allows users to make protected translations bypassing the blockchain, reducing the load on it. However, they designed LN for users of desktop devices, while the whole world has been seeking mobility for years. GoNetwork is the first platform in its way, allowing users to make quick and inexpensive transactions via mobile devices.

What is GoNetwork ICO and how does it work?

GoNetwork ICO review

It is assumed that GoNetwork will enable users to make transactions faster and cheaper using State Channels – channels separate from the main blockchain. They use similar mechanics in the Lightning Network – a separate channel between the two users, within which they can make any number of transfers. You can also transfer cryptocurrency to the other users, using some participants as intermediaries.

So far, the team has not demonstrated a concrete working prototype (they plan the launch of the beta version of the platform for the mid-2018). However, Infinidy Company, which is responsible for the project, has two products-the predecessors of GoNetwork – GoExchange and Pocket. The first allows you to make legal trading transactions between users inside mobile games and Infinidy applications, the second is something like a debit card application.

The infrastructure of the GoNetwork itself is still at the stage of creation, and the project team needs money to continue the work, which they planned to raise through the ICO. The first, light version of the platform, will allow to carry out fast mobile transactions of ethereum, in the future the service will support all the most popular cryptocurrencies.

Who is responsible for the project?

The GoNetwork project (https://gonetwork.co/) is the brainchild of Infinidy, and most of the team members are from this company. Infinidy is a developer of mobile applications with a worldwide reputation, they created Happy Park and Zombies vs. Aliens (App Store included both projects in the list of the 10 most downloaded apps). The company also released other mobile games, the general audience of users of applications from Infinidy is about 15 million.

In addition to games, the company participated in other applications – in particular, launched a project for online photo and video Dubsquad.me. Infinidy also developed a number of social games in conjunction with the Japanese GREE International corporation.

Up to a certain point, Infinidy was not part of blockchain applications. And we can say that developers have no experience in this area. Nevertheless, this did not prevent their team from winning the most prestigious blockchain-hackathon ETHWaterloo, held under the official aegis of the ecosystem of the Etherium and with the personal participation of Vitalik Buterin. They designed the prototype of the Pocket application there. Originally – for teaching children to manage pocket money competently.

Specialists who head the GoNetwork project

  1. Rashid Khan, CEO. He is also the founder of Infinidy. He graduated from the University of Waterloo in Canada. Supervised the development of Happy Park, Dubsquad and other top-end studio projects. Selected by YCombinator for in-person interview at Mountain View, California.
  2. Amit Shah, Chief technology officer. He graduated from the University of Toronto. Specialist in software development, including on the blockchain. He held a post of Vice President of BlueRover on research and development of software. Participated in the development of applications for the Ethereum ecosystem.
  3. Xun Cai, Chief Operating Officer. He graduated from the University of Waterloo, a software development specialist. Co-founder and Chief technology officer of Infinidy Corp. Serial entrepreneur, implemented several successful projects on turnkey basis.
  4. Jeff Morris Jr., Advisor. Director of Product Management – Revenue at Tinder, Inc. Founder of Chapter One Ventures.
  5. Tess Hau, Advisor. Stanford University GCBC Advisor and Ex Stanford Innovation Farm Team Member at Stanford University Graduate School of Business.
  6. Ian Balina, Advisor. A well-known cryptoinvestor and entrepreneur, blogger and media player.

ICO details

Interestingly, that they still did not announce the exact date of the ICO GoNetwork. The primary placement of the tokens was announced in November-December in the autumn of 2017. And there has been much hype in the cryptocommunity. Perhaps this was one of the reasons why the project managers decided to postpone the event (in order to satisfy the demands of all investors).

GoNetwork ICO

Initially, softcap of $ 20 million and hardcap of $ 30 million was installed for the project. Perhaps the bar will be raised, given the increased investor interest. A total of 100,000,000 GOT will be issued, half of which will be on the ICO.

Now there are already many potential investors willing to buy GoNetwork ICO. They are invited to leave their application on the project site. After consideration and approval (and they still can reject the application for some reason!), the participant gets into the white list, and gets access to the ICO. Yup, it’s no easy to get new and interesting tokens, but those who want to invest can also turn their attention to top altcoins of this year.

It is not excluded that the sale of tokens will be launched when the project gets a sufficient number of potential investors in the white list, and the success of the ICO will be guaranteed.

Summary of GoNetwork ICO

Blockchain-experts, investors and ordinary members of the cryptocommunity have no doubts concerning the success of GoNetwork project. There are periodic doubts about the competence of developers specifically in the field of blockchain in some GoNetwork ICO reviews and comments. All right, but, for a minute, these guys won the Ethereum Hackathon! In addition, the invited blockchain specialist holds the CTO post, he “moved” from this position Infinidy’s technical director Huna Chea.

Otherwise, the project calls for optimism. The concept, though new, but quite realizable, solves one of the most pressing problems of the cryptoindustry. The development team consists of experienced professionals with a number of successfully implemented projects. All the resources of Infinidy are at the disposal of specialists. And ICO will succeed thanks to the already growing excitement in the cryptocommunity. And the token will growing on the exchanges in the months after the placement. Even if the project does not start in a year.

ICO GoNetwork is one of the most attractive options for investing in the near future.

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