Go Network and the Future of Blockchain Payment
GO NETWORK AND THE FUTURE OF BLOCKCHAIN PAYMENT W r i tten b y: Michael K i tc he ne r W ebsi te : www.go netwo rk .c o
Go N e tw ork is cr e a ti n g a highly s ca l a bl e , low co s t mo b ile f ir st n e t work inf r a s tr u ct ure f or Ethereum. fintech review
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Disruption to traditional markets, methods and structure of business is a cornerstone of the Blockchain philosophy. The e-commerce market is the latest to find itself in the sights of Blockchain disruption, albeit in a more nuanced manner. GoNetwork aims to provide a lowcost and highly-scalable network for Ethereum that is optimised for web and mobile platforms. GoNetwork’s intention is to provide a solution to some of the shortcomings currently faced by the Ethereum network – such as the limited number of transactions per second. GoNetworks answer to these shortcomings is to evoke state channels - which allows people who have transacted once within a Blockchain to make an unlimited amount of transactions with each other until the final balances are confirmed and then processed on the Blockchain. Importantly, this makes the need for miners to verify every transaction obsolete, expediting the process greatly. The grand plan here is to create a network of state channels between all participants in the network. This may sound familiar if you are acquainted with Raiden – a project striving for a similar solution. But GoNetwork differentiates itself in that – unlike all other network scaling projects – their focus is not confined to desktop. GoNetwork, unlike, Radien or any other similar
