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GoNetwork ICO Report – A scalable solution for Ethereum Blockchain

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Standard ICO Report Structure:
  • Part 1: ICO Analysis (What is it about? What is the ICO intending to do? Describes what the platform is.)
  • Part 2: CROWDSALE ANALYSIS – DETAILS & TOKEN SUPPLY
  • Part 3: Useful Links (Further Research)
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.
Speeding Up The ETH Blockchain
With thousands of developers worldwide and over 500 innovative projects development on its platform, Ethereum has become the “goto” platform for startups looking to crowdfund their decentralized solutions to real-world problems.
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.

Part 2: Crowdsale Analysis – Details & Token Supply

Total Token Supply: 100 million.
Token Type: ERC20
Token Distribution: 50% will be allocated for ICO, 25% has been earmarked for the team, 20% will go into the development of ecosystem incentives, marketing, and communication, while 5% will be distributed to advisors.
ICO Sale Phase: Not Specified Yet
Token Price: Not Specified Yet
Crowdfunding Usage: The proceeds of the token distribution event will be used to fund GoNetwork operations
Team Overview – Members & Advisors  
Rashid Khan, CEO: Founder of Infinidy Corp, one of Canada’s leading game development studios. 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. Etherium Investor.
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. Founder of Chapter One Ventures
Tess Hau: Stanford University GCBC Advisor and Ex-Stanford Innovation Farm Team Member at Stanford University Graduate School of Business
Nenone Donaldson: Director of Advancement, Faculty of Engineering at University of Waterloo

Part 3: Useful Links (Further Research)

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