Review on GoNetwork by Pedro O. Alvino M.
Scalable network with state channels
Composed of an expert team in software development, GoNetwork went to the market with the intention of creating a network that allows the development of cheaper and faster transactions, than to be implemented in other blockchains, through state channels.
With the integration of state channels that process a minimum of on-chain transactions that allow balancing the transfers between the parties outside the chain quickly, without cost and with a high performance.
Given the current problems that some blockchain networks present, scalability is a problem that arises in many of them, in which GoNetwork can lighten this load, however the project has had a great decrease in activities within the GoNetwork ecosystem, which some Communities have estimated that the project is a scam, since the number of users, the design of the page and the decrease in operations can induce it.
Pros
- Implements Hash Time Lock Contracts (HTLC)
- Allows atomic swaps even between different blockchain implementations
- Features bi-directional status channels with unlimited channel life
- Integrates an incentive system for its users on the longevity of a state channel
- Uses a geometric decay function that determines the amount of reimbursement over time for a channel.
Cons
- Does not have a solid community
- The GOT capitalization is one of the lowest in the market.
- Demand for its services is low despite the heavy transaction congestion on the Ethereum network
