Available Tokens for sale 50 % GoNetwork has recently won ETH Waterloo 2018 Hackathon competition.
Buy GoNetwork ICO Whitelist
- 50% token sale
- 25% team
- 20% development, marketing
- 5% advisors
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 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. The GoNetwork project (https://gonetwork.co/) is the brainchild of Infinidy, and most of the team members are from this company. 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. They designed the prototype of the Pocket application there. Originally – for teaching children to manage pocket money competently. 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). 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. 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. The insurance industry is an old and traditionally minded industry, often plagued by conflicting interests between insurance policy holders and insurance companies. The incentive insurance companies traditionally have of withholding payments or making it difficult to submit claims is removed by giving power back to the people and cutting out the middleman. Instead, anyone can buy “tokenized risk” by holding the Etherisc token and earn returns on the risk they are taking. The potential for savings in a model like this is obviously huge in that it can cut the large bureaucracy that characterizes many insurance companies today. These savings could potentially benefit both insurance buyers and token holders. Certain sections of the white paper also suffer from poor English writing and structuring which can make it difficult to understand. In fact, the Etherisc white paper looks more like an academic paper than a typical ICO white paper. In our view, it still has a way to go when it comes to explaining their concept to the general public. We believe the team would benefit from putting all of these together into a single easily understandable white paper. This document should also include essential information about the token and token sale, which is now largely missing. Etherisc is a company registered in Germany that is issuing a token that will be known as DIP on the Ethereum blockchain. When it comes to the token allocation, details are not easy to come by. We were not able to find any information about this on the website or in any of the 3 white papers that are available online. Eventually, we were pointed to a Google Doc by one of the company’s representatives on Telegram. As stated in this document, only 30% of DIP tokens will be available to the public during the token sale. This is a really small share, which in our view challenges the idea behind decentralized platforms. The overall token allocation is presented as follows: The token price for early contributors will be $0.10 + up to 25% bonus with a high minimum investment of 10 ETH. During the main sale, the price will be $0.10 with no minimum investment. Only non-accredited US investors are mentioned as barred from participating in the token sale. When asked about this on Telegram, the Etherisc representative stated that “some other countries might fail the AML check,” without offering further details. The Etherisc team appears to be fairly large with lots of experienced people from a variety of industries. The team is also more senior than many other blockchain projects, which in our view is better than having a team of only young people with no prior work experience. There are three co-founders on the team, each one with his own area of responsibility: All three co-founders have Etherisc listed as their employer on LinkedIn. The team is also spread out geographically with people from lots of different countries. Despite this, we do have some concerns regarding the team’s preparedness for the ICO (or “Token Generating Event” – TGE – as Etherisc calls it). Firstly, the many white papers that are published on the website make it difficult and confusing to find the information investor’s typically look for before investing. These documents should be merged and rewritten into a single easy-to-understand go-to resource for ICO investors. Secondly, we are critical of the team’s decision to only make 30% of tokens available to the public through the ICO. Generally, anything less than 50% public ownership of tokens challenges our view of what a “decentralized” platform should be like. All in all, we agree that the insurance industry is a good candidate for disruption. We also like the idea of “tokenization of risk” and letting anyone participate and essentially buy risk in return for a profit. This way, there is a huge potential for savings and cutting down on unnecessary bureaucracy in the insurance sector. However, we believe the team still has some work to do on the promotion and marketing side in order to make this ICO more understandable for the general public. All token sale details also need to be made available in one place, and the team should explain clearly their reasoning behind the token allocation model they have chosen. Overall, we arrive at a score of 4 out of 10 for the Etherisc ICO. More information: Featured image from Pixabay. Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term trading. The author has no investment in Etherisc at the time of writing. This offer is based on information provided solely by the offeror and other publicly available information. The token sale or exchange event is entirely unrelated to TokenMarket and TokenMarket has no involvement in it (including any technical support or promotion). Token sales listed from persons that TokenMarket has no relationship with are shown only to help customers keep track of the activity taking place within the overall token sector. This information is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice or carry out your own due diligence before taking, or refraining from, any action on the basis of the content on our site. Please refer to our website terms and conditions. If you have any concerns about the nature, propriety or legality of this token sale or the persons involved in it please contact [email protected] with detailed information about your concerns. Please also review our Sector Risk Warnings page here before you decide whether to commit any of your assets in respect of this product or service (or any other). Each Token project is different and the need for TokenMarket services varies - therefore sometimes all services are not provided and sometimes additional services are requested. TokenMarket receives compensation from the Token project for the provision of the services. The exact nature of the compensation varies. Depending on project and stage of the Token Sale TokenMarket receives a fixed fee and/or a percentage fee based on the volume of the sale. The average size of the total compensation is a mid to low single digit percentage. The fee paid is paid in the currency of the Token sale or in the Token itself. GoNetwork is creating a highly scalable, low cost mobile first network infrastructure for Ethereum. From the Winning Team at ETHWaterloo World’s Largest Ethereum Hackathon. A highly scalable, low cost mobile first network infrastructure for Ethereum. 11.06.2018 PRE-SALE: Team: 6 persons Prototype: Yes ICO Min/max personal cap: 0.00 / 0.00
Buy GoNetwork ICO Allocation
- Accepted Payment: ETH, BTC
- Max Token Supply: 100,000,000
- KYC (Know Your Customer): Yes
- Pre-Sale: Completed
- Public Sale: Ongoing
- Website: https://gonetwork.co
ICO Token Price: 0.00 USD, 0.00 ETH, 0.00 NEO
Total Tokens: 100,000,000
Available for Token Sale: 50% 3-May.
t want to participate in pre-sale, because after that there will be an auction with an unlimited cap.
Right now it is Neutral.
Alexey: Project is interesting but I dont want to participate.
Implementation issues aside, GoNetwork is backed by a very talented team.
We just wish there was more blockchain experience outlined in the whitepaper.
On the technical side, we also like the state channel solution, as this provides a tangible example of how the platform aims to reduce the cost of transactions.
The size and growth rate of GoNetwork’s online community (Telegram, Twitter, etc.)
also suggests this will be a successful ICO.
I’ve officially stepped down as an advisor for GoNetwork.
I have no plans to participate in their token sale.
I won’t be taking any compensation for any work done.
I’ll be available to answer questions on my next AMA.
Sorry for the inconvenience on this one.
[email protected] © 2018 Ingello While the date of GoNetwork’s ICO has yet to be announced, the hype around the project continues to grow.
The project’s telegram group has surged to just short of 60,000 members, making it one of the highest profile ICOs in the current market.
The project leads were the winners of last year’s ETHWaterloo event, the world’s largest Ethereum hackathon.
They have managed to leverage that publicity to build a large following ahead of the token sale.
Tokens are then allocated in descending order starting from the highest bid until all available tokens have been allocated.
The price is subsequently set at the lowest bid amongst those receiving tokens.
While a $30 million hard cap has been mentioned, a Dutch auction could theoretically lead to far more capital being raised.
The authenticity of this screenshot has not been established, however.
At the time of writing, no formal comment in relation to the allegation has been made on the team’s Telegram channel.
GoNetwork caught my attention since I read that Shillan Balina had some stuff to say about them.
So, I joined their telegramgroup and had a few words with the admins who are constantly posting spam about their ICO.
Pretty interesting that they got about 68k people in their group.
Also, most admins in there are using stock images to impersonate I guess.
All seems pretty shady to me.
I hope not too many people fall for this ICO.
Also their where rumors about a Dutch acution, which I didnt “investigate” any further.
Maybe someone else can elaborate if needed.
Standard ICO Report Structure: Part 1: ICO Analysis Bitcoin popularity keeps growing on daily, accumulating into a multibillion-dollar industry.
Yet, with the massive figure backing its market capitalization, experts still question the uses and benefits of the cryptocurrency – except for storing and transferring value.
Ethereum, on the other hand, is much different.
Ethereum has the second highest cryptocurrency market cap with over $29 billion and has been projected to outpace Bitcoin in the nearest future.
However, Ethereum’s potential is mired in scalability issues, high transaction fee, slow transaction speed and gas cost on EVM (Ethereum virtual machine).
Gonetwork is a network solution that aims to make Ethereum fast with low latency and a vastly scalable ecosystem.
The network will be available on desktop, web platform and mobile devices.
When it comes to accessing the internet, mobile devices are becoming the norm rather than the exception they use to be and have already overtaken PC usage.
Increased Usage – GoNetwork Load-Off This increased usage has been projected to propel the revenue generated from mobile applications pass $63 trillion marks by 2021.
This potential market is the drive behind the design and development of GoNetwork.
Difficulties Combated – Issues Compiling Ethereum platform into mobile network devices is not feasible with current technology.
Problems of limited storage capacity and battery life on these devices limit accessibility to Ethereum network.
GoNetwork is set to implement scalable solutions, and booster Ethereum network bringing it to the masses.
GoNetwork will create a decentralized e-commerce ecosystem for virtual goods.
Users will be able to buy and sell digital goods that benefit content creators, node operators and the Gonetwork users.
Estimated Virtual Market Value – Gaming & Other V Trading Virtual items often traded between gamers has generated over $108.9 billion dollars in 2017 alone.
it is estimated that mobile segment will represent more than half the market cap by 2020.
Virtual items amounting to $27.5 billion is being lost annually to scammers and fraudsters with higher concentration in China.
This has eroded confidence in the uniqueness of an item, which GoNetwork aims to restore.
Gonetwork is developed on Elang IOTP; a framework that is used by major servers like WhatsApp.
The platform will ensure virtual content credibility and ownership of item cannot be traded until there is an agreement between both parties.
All virtual item will include a digital signature to ensure provably ownership through smart contract.
Gonetwork multifaceted network looks forward to the partnership with government and business bodies who are interested in upscaling their investment with blockchain.
Total Token Supply: 100 million.
Graduated from the University of Waterloo, Ontario, Canada.
Created the biggest iOS theme park simulation game called Happy Park.
Over 15 million people have downloaded Infinidy’s games!
Founded Dubsquad that became one of the largest video social networks among teens worldwide with over 1 million users.
Selected by YCombinator for in-person interview at Mountain View, California.
Early bitcoin miner.
Amit Shah, CTO: Software architect & Blockchain expert.
Graduated from the University of Toronto, Ontario, Canada.
Spearheaded research and development while working at BlueRover as Vice President of Software Architecture R&D.
BlueRover is a leading Canadian Internet of Things (IOT) technology company.
Worked at several Ethereum based open source projects.
Xun Cai, COO: Graduated with distinction and honours in Software Engineering from the University of Waterloo, Ontario, Canada.
Xun is the co-founder and CTO of Infinidy Corp.
He is a serial entrepreneur who has created products that have been used by millions of people and have acquired a large active user base.
Led Infinidy to become one of the first companies to join Communitech, Canada’s top digital media incubator.
Infinidy was also a part of Accelerator Center (world-leading tech incubator of Canada – http://acceleratorcentre.com/), sharing the platform with top tech companies like Kik Interactive.
ADVISORS Jeff Morris Jr: Director of Product Management – Revenue at Tinder, Inc.
Scalability is a major issue being faced by the Ethereum network which currently has a latency (transaction time) measured in minutes in some cases.
Scalability for mobile computing, variable smart contract execution, and off-chain scaling through the GoNetwork platform are all features of the project.
GoNetwork will achieve this by using state channels involving two participants or “actors”.
Because only the actors have access to the tokens allocated to the contract, it is said to be secured in the same way as on-chain.
GOT tokens are used to stake the smart contracts.
DApps on the Ethereum blockchain are still in the early phases of development, with much room for improvement.
A team capable of creating DApps with prior mobile development experience may be well suited to taking on the goals at hand.
Rashid Khan – CEO Founder of the Infinidy Corp, a major game development company.
Khan has experience as the CEO of a major company and with many connections in the business world already established, he’s a strong leader for the team.
Khan created one of the biggest iOS theme park simulation games ever, called Happy Park, and his apps were rated #1 in 23 different countries.
Spearheaded research and development while working at Internet of Things company BlueRover as Vice President of Software Architecture R&D.
He has also worked at several Ethereum based open source projects.
He helped lead Infinidy to become one of the first companies to join Communitech, Canada’s top digital media incubator.
The GoNetwork ICO dates have not yet been announced.
The public sale is due to begin on June 11.
Tokens bought during the sale are not transferable until KYC auditing is completed, with no date set for that process at this time.
The ICO is not available in Canada, the US, China, or Singapore.
The GoNetwork token is called GoToken (GOT), and is ERC20 compliant.
The price of a single GoToken is undetermined, and the team say it will depend on the level of funding raised.
There is no hard cap, soft cap, or maximum amount that can be invested.
The team have not released details on what will happen to any tokens unallocated after the sale ends.
Token distribution: 50% available for Public Sale 25% for the Team 20% for Development, Marketing, Ecosystem Incentives, “etc.”
Buy GoNetwork ICO Account
- Christoph Mussenbroch, Protocol & Architecture
- Stephan Karpischek, Ecosystem & Community
- Renat Khasanshyn, Insurance Products & Revenue
5% Advisors Projected use of contributions: The team have not released a plan detailing the projected use of contributions.
The total supply is 100 million tokens. GoNetwork has a vision; mass adoption of cryptocurrencies. The team behind GoNetwork sees mobile accessibility and interoperability as the keys to achieving this. They want to create a highly scalable, low cost, and low latency first mobile network infrastructure for Ethereum. The team intends to do this by creating a state channel off-chain network similar to the Raiden Network for Ethereum and the Lightning Network for Bitcoin. A simple explanation of how these networks work is that they reduce bottlenecks by taking on transactions that would otherwise be done on the blockchain. GoNetwork is funding its development work via ICO; the date has yet to be announced as at the time of this writing. Let’s see what GoNetwork is all about and what they are trying to achieve. The GoNetwork team’s name gained prominence when they won the ETHWaterloo hackathon, allegedly the world’s largest Ethereum hackathon. Their winning project was something called the Pocket Platform. The idea behind the platform is to teach kids financial literacy by creating a ‘smart contract debit card’. Parents can then teach them financial management skills by incentivizing various spending patterns using the smart contract. The team created this project within 32 hours. Prior to this, the GoNetwork team had created various mobile games, including Happy Park, a game that had once entered a weekly Top Ten list of top-grossing iOS games. The team is also responsible for Dubsquad, a social networking app where people can share dubbed videos of themselves. The first product that GoNetwork is bringing to the market as part of its masterplan to bring cryptocurrency to the masses is GoExchange. The team describes GoExchange as “a scalable decentralized virtual goods commerce platform for mobile platforms”. It sounds like a standard e-commerce mobile platform that uses cryptocurrencies. The GoNetwork team claims that GoExchange already has an alpha (first release) version and have a link called ‘Try MVP’ on their website. However, you will notice the link only brings you to GoNetwork’s GitHub page which does not appear to contain any MVP at all. Further, the last repository on said page was last updated in mid-October 2017, over three months ago. This is definitely a red flag for GoNetwork. But it isn’t the only red flag to be found, and you should be aware of them before making your decision on GoNetwork’s upcoming ICO. Let’s start with…. In a blog post announcing its ‘master plan’ for the project, GoNetwork links out to its ‘updated whitepaper’ for further details. The problem, as you would probably have noticed is that clicking on the link gives you an error 404 page. There is no whitepaper, and based on some research it looks likely that there never was one. And the lack of a whitepaper isn’t the only red flag raised by others that they have not addressed. Over on GitHub, user icochecker has posted a list of issues related to GoNetwork, none of which have been addressed by the team. There are also ample screenshots taken from Telegram conversations with the GoNetwork team, and their response has been unsatisfactory, to say the least. It is worth reading through these issues in detail, as well as the user comments which note further problems they have with GoNetwork. But for the time-challenged among you, here’s a summary of the issues raised, and how the GoNetwork team has responded to them. The GoNetwork team responded by stating that the information is available in the (now non-existent) whitepaper. Subsequent follow-up questions (seven in total!) Users then searched several Canadian corporate and business registration databases and sent it to Xun Cai (one of the co-founders) on Telegram. He responded by saying that they are setting up an entirely new company that will be used for the ICO only. Then he went on to say how busy the team was and that they would not be able to answer everybody’s questions. GoNetwork does have some smart contract code posted up on its GitHub here. But because the whitepaper is now missing, these cannot be verified. As mentioned above, the GoNetwork team hasn’t made any updates to its code on GitHub for over three months now. Despite claims about the alpha version of GoExchange, it appears nowhere to be found. In the upcoming GoNetwork ICO, the target amount is $30m, which seems very high for such a project (and the hardcap will likely be even higher). Further, 25% of these funds are allocated for the team, which seems ridiculously high. They also haven’t mentioned any vesting schedule for their allocation, which raises the question – just what are they going to do with their huge cut? The GoNetwork team has conveniently ignored these questions also, except stating that once their smart contract is live, a vesting schedule will be posted. Some users on the Telegram chat received screenshots alleged showing co-founder Xun Cai, discuss how the GoNetwork ICO is, to put it bluntly, nothing but a moneymaking scheme. When these screenshots were posted on the Telegram channel, the admin promptly deleted them. The subsequent response by the GoNetwork GitHub admin was even funnier, claiming that Xun Cai had been hacked! Needless to say, many users remain skeptical, noting that signing up for Telegram does not require an email address, only a mobile number. A few users who have challenged the GoNetwork admin on their responses to the legitimate questions have reported having their accounts banned from the Telegram group. At this point, there is no conclusive evidence pointing to the fact that GoNetwork is a scam ICO. As the team has correctly noted, they have not asked anyone for any funds yet. But there are plenty of reasons to be highly skeptical of this ICO. If you haven’t made up your mind yet, you should join their (apparently unlimited) whitelist, as well as their Telegram group and do some research of your own. But if you want to stay on the safe side, then this ICO has way too many red flags for a conservative investor. What do you think of GoNetwork? Is it nothing more than a money grab scam ICO, or are they really legit? Let us know your views in the comments below. Featured Image from Shutterstock. is a leading independent blockchain news outlet that maintains the highest possible professional and ethical journalistic standards. Journalists are required to meet our and guidelines. GoNetwork is a low cost and highly scalable first mobile network infrastructure for Ethereum. Hard Cap: Will be discovered through Dutch Auction. Presale Date: End-March to End-April 2018 Presale Price: n/a (Dutch Auction) Presale Bonus: 25% bonus ICO Date: not available yet ICO Price: n/a (Dutch Auction) Whitelist: Registration opened. Token distribution date: Most likely immediate. Social Interest (3-Dec-2017): Bitcointalk: 12 • Build a highly scalable, low-cost, low-latency first mobile network infrastructure for Ethereum. The team plan to achieve this by creating a network for off-chain transactions using state channels, the scalability concept similar to Raiden Network for Ethereum and Lightning Network for Bitcoin. • GoNetwork Master Plan: 1) Build the infrastructure that can scale Ethereum to massive transactions per seconds on mobile. 2) Use GoNetwork to deliver a strong use case; GoExchange, a virtual goods commerce platform, that will show the capacity of the GoNetwork infrastructure. 3) Develop the pocket product to penetrate the commerce market. • 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. All forms of cryptocurrency will be accepted in the future. Opening or closing a state channel requires a small transaction fee that is paid in GoTokens. State channels amortize the cost of transactions based on the number of off-chain transactions completed off-chain. • The team plans on launching gotoken debit card, which will let users spend GoTokens anywhere like fiat currency. This should also create demand for the coin. This use is expected to be heavy especially among the teen audience which is known to spend heavily on mobile games and apps. Team also plans on sponsoring developers who integrate GoTokens within their apps and making strategic deals with top app developers who have millions of active users. • First use case for GoNetwork will be GoExchange; a scalable decentralized e-commerce platform for the virtual goods marketplace. GoExchange provides a platform that unifies app economies across Mobile platforms, allowing users seamless trade and purchase of virtual goods across game ecosystems and between users. • Ethereum remains focused on delivering a stable and scalable blockchain technology on desktop computing platforms. Full Etherum nodes for mobile platforms apply the same network, storage and computing requirements as desktop platforms. Hence, the new development is not suited for mobile computing and battery preserving computation i.e. running proof of work mining on mobile devices will rapidly deplete battery life. GoNetwork seeks to adopt technologies and incentives to alleviate the limitations of mobile computing platforms, and hence making cryptocurrencies accessible to the masses. • GoNetwork was a winner of ETHWaterloo which is a largest global Ethereum hackathon in the world, with the participants coming from 32 countries. Judges included names like Vitalik Buterin and Joe Lubin, co-founders of Ethereum. Obviously, the project for which they were awarded is in no way connected to GoNetwork, but it does give some credibility to the team and the developers.
Buy GoNetwork ICO Email Subscription
• GoNetwork prime objective is to build a fast, cheap and scalable mobile first off-chain transaction network for Ethereum.
Given the fact that the mobile web browsing has overtaken desktop, if team manage to succeed in this, it would be a huge accomplishment. I do agree that the Ethereum, ERC20 tokens and cryptocurrencies in general require mobile accessibility and interoperability to gain mass adoption, as written in GoNetwork’s whitepaper. • First use case for GoNetwork will be GoExchange, virtual goods marketplace. Virtual goods is a huge market with mobile gaming revenues of $46.1 billion in 2017. Even Deutsche Boerse is tapping into this market through partnership with NAGA Group and their Switex platform, which is another project of virtual goods marketplace yet to be launched. GoNetwork blockchain competitors include names like Dmarket and WAX (Worldwide Asset eXchange). Dmarket recently raised around $20M through an ICO, and WAX, which is backed by Mike Novogratz, and which recently raised $80M. GoNetwork hopes to achieve the critical mass through their existing 15M user base. For comparison the WAX is being developed by a team from OPSkins, the world’s largest centralized marketplace for trading video game virtual assets. The WAX is also known as having the largest Telegram channel in the blockchain project space with more than 30,000 members. The competition is no joke in this industry. • The team mentioned in one of their blog posts that they are talking to multiple exchanges as they are preparing for Token Distribution Event. This is good, as it gives me the confidence the team is planning on listing the tokens on the exchanges as soon as possible after the ICO ends. Also having Ian Balina as an advisor in their team makes me confident they won’t neglect the importance of exchange listings. Xun Cai responded on accusations by saying it wasn’t him and that he was hacked. You can see the screenshots of the chat and read more about these concerns here: https://github.com/ico-check/ico-check/issues/12. • They have no updates on their Github page since the beginning of October. They also already postponed ICO once, which was planned for 20 November. And it now seems it they are taking a lot of time to announce the details of the ICO. This casts a bit of a shadow on a team’s ability to run the ICO properly. They have obviously changed the text in the article, but the link remained the same (for now). “Each transaction that happens in the network will incur a transaction fee. ” – excerpt from the GoNetwork campaign on the KickICO website. • I went carefully through the whitepaper and it is a well written document. My research indicates that this is a good project, but more so for short term investing: 1) Team already developed couple of very successful mobile games and apps. 2) They are raising $30M which is good market cap. There are rumors that they will reduce market cap to $12M, maybe due to credibility hit they took because of cofounder Xun Cai chat transcript. If this is true then it will create a lot of FOMO and it will most likely prove to be a very good investment, regardless on the Xun Cai incident. I don’t take lightly that chat transcript or Xun Cai immature behaviour and explanations afterwards, but most other things do check out. 3) There is also a good amount of hype around the project. Ian Balina is an ICO investor and the GoNetwork advisor. 4) They will most likely be listed on the exchanges very soon after the ICO. • For flipping: POSITIVE NEUTRAL • For long term holding: NEUTRAL NEGATIVE UPDATE (02-Mar-2018): • In my previous writeup, I gave GoNetwork positive rating for flipping and neutral for long term holding. Xun Cai responded saying he was hacked and that somebody else was writing those messages. Previously I wrote that I don’t think he was hacked, and that he actually did have that chat, as the “explanations” don’t sum up. Regardless I gave it positive rating for flipping due to the hype that was building up and actually good idea. I assigned that ignorant chat to immatureness of the individual. There is a lot of hype because of Ian Balina giving them the highest score of 98% in his spreadsheet and publicly endorsing them. Ian is conveniently also their advisor. It seems to me they are trying to take advantage of that by doing the Dutch Auction to raise as much money as possible. He is getting a big check for his GoNetwork advising role. And I think the score he gave to this project is completely out of this world, and not connected to reality. My guess is that he will either revise it drastically later on or suffer a reputation hit. • In conclusion: Because of hard cap change to Dutch Auction and too many red flags, I personally will pass on this one. A major concern with blockchain technology centers on speed and high cost of transactions. Transactions on blockchain like Bitcoin are expensive and slow. With growing usage and increasing market dominance in comparison to other coins, Ethereum will fare no differently over time. GoNetwork’s solution solves this problem by allowing off-chain transactions simultaneously creating demand for GOT. The company’s prime objective is to build a mobile first network for Ethereum ERC20 tokens that is off chain. It will be a fast, cheap and low latency infrastructure. State channels will amortize the cost of transactions based on the number of off-chain transactions completed. Thus, in typical high-frequency workflows, the cost of transactions will be several orders of magnitude lower than running the transactions on Ethereum only. GoNetwork will be designed for trillion dollar mobile economy and commerce market. ICO release of 100 milion tokens (the price per token is not announced yet) The final allocation: There is no information yet on how will be used the raised capital. Twitter – 35.7 k followers, couple of posts a day. On average, over 500 retwitts and 400 -500 likes per post, couple of posts per week. Facebook – 2,1 k likes and 2,1 k followers. Under 50 likes per post, low FB activity. GoNetwork has already 64 k members on their Telegram chat. In the chat they are pretty active, the admins are answering actively to member’s questions. They are winners of Ethereum Waterloo Hakathon and the judges from this event were: V. Buterin, D. Buterin, Jeff Coleman, Brian Bondy, Josep Lubin, etc. – highly appreciated figures in the world of cryptocurrencies. The CEO, Rashid Chan, is the founder of Infinidy Copr. ( top Canada’s game development studios) and has created different games which were highly ranked. He is also an early Bitcoin miner. GoNetwork has 7 advisors, University Professors (Stanford University,University of Waterloo, etc) and other ranked crypto advisors, couple of them were featuring in Forbes, Wall Street Journal, etc. The blockchain has a massive potential of displacing the current structures of retail giants like Amazon and eBay. Experts believe that the figure will rise to $4 trillion by 2020 while global retail payments are expected to contribute over $20 trillion to the market 5 years from today. The rise in market caps is also matched by Ethereum’s popularity in recent times which has seen it become the #1 alternative to bitcoin. Despite only being in existence for less than 5 years, Ethereum has over 35,000 developers worldwide in addition to having more than 500 start-ups built on its platform. However, issues have come up in Ethereum’s network recently which shows that the platform is far from flawless. At the moment, Ethereum remains focused on delivering a stable and scalable blockchain technology on desktop computing platforms but that means mobile systems are severely forgotten. Introducing GoNetwork GoNetwork is creating a low-cost, low-latency and highly scalable network for Ethereum that can not only be used on desktops, but also on mobile and web platforms. As mentioned earlier, the blockchain, while extremely innovative, has a few hurdles it needs to overcome to achieve adoption. For example, the number of transactions per second that most popular cryptocurrencies can handle is extremely limited compared to what’s needed for the technology to be used globally. The team believes that with the domination of mobile platforms, it is a no-brainer for Ethereum, ERC20 tokens and cryptocurrencies to enable mobile accessibility and interoperability for the public. The platform is already in the development process and is expected to launch soon once the technical structures are set up. Another feature of the network is the release of GoExchange in 2018. On the topic of the platform’s team, the individuals responsible for GoNetwork is an extremely experienced and skilled one. How does GoNetwork work? GoNetwork will solve the problems of today’s blockchain practices by using state channels. And since there is no need to verify or mine transactions until a transaction is ready to be confirmed, this makes the whole process extremely fast and cheap. Features of the GoNetwork platform GoNetwork will use GoToken as the official medium of currency for the platform. GoToken is a cryptocurrency that will be accepted and used by games and apps on the web as well as mobile platforms. On the GoExchange, you will be able to trade, buy or sell any virtual item with GoTokens. Aside from being cheap, transactions are also confirmed quickly on GoNetwork which makes it ideal for day to day transactions. The availability of staking means that you can earn extra GoTokens by simply keeping them in your wallet – that’s all you need to do! This happens because each and every transaction that happens in the network will incur a small transaction fee. A portion of the fees will go to GoNetwork for maintenance and the fees for running the platform while another part of it will go to the node operators. The remaining tokens will be distributed fairly to everyone who is holding GoTokens in their GoToken wallet. With top-notch security features thanks to the blockchain technology, GoNetwork protects developers and users from fraud in trading. Users will be able to connect their GoToken account wallet to a GoToken debit card which allows users to spend their GoTokens as fiat currency anywhere in the world. Fees are minimal and the cards will be supported by Visa’s infrastructure which means it can be used virtually anywhere in the world.
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