Review on GoNetwork by francis fernandez
GoNetwork: solving blockchain challenges
The common challenge of digital currencies is to overcome the speed of transactions and reduce the costs of using the network.
GoNetwork takes up this challenge by offering a platform that allows operations to be carried out external to its main chain; allowing more scalable and therefore cheaper transactions.
Coin:
GoNetwork offers a digital currency identified by the acronym GOT, which operates on the Ethereum network.
Functioning:
GoNetwork creates an open market ecosystem for the exchange of digital assets within the economic system on a large scale and through the use of mobile devices. This is possible thanks to the use of alternate channels to your chain to execute the flow of your operations efficiently; also allowing the reduction of transaction costs.
The mission of the GoNetwork platform is to establish itself as a mobile network using the power of Ethereum's ERC-20 tokens to create a fast and economical infrastructure; when performing operations external to the main chain.
Technology:
To achieve its mission, GoNetwork makes use of a virtual channel system that works in coordination with a server that acts as a mediator to monitor lock times and route encrypted messages outside the main chain to their destination.
Utility:
GoNetwork allows access to a mobile platform to execute operations faster, cheaper and easier to interface; simplifying the management of large volume of transactions efficiently and safely.
Another of its advantages is its ERC-20 token compatible with many market platforms; opening a range of great business opportunities to its users.
Pros
- Allows fast transactions
- Offers platform for mobile devices
- Allows savings in transaction costs
Cons
- It has no disadvantages
