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One of the biggest problems with blockchain currently is that it cannot handle large amounts of transactions at the same time, and such transactions are not inexpensive–for example, many blockchains cannot handle more than three or four transactions per second.
As adoption of blockchain technology grows, this problem will only get larger.
To solve this, GoNetwork has developed a mobile network infrastructure for Ethereum and ERC20 tokens that would allow thousands of transactions per second.
Being able to scale to allow this many transactions simultaneously would have the effect of reducing the cost per transaction, and would be ideal for anyone who is creating their own business or application that requires fast and cheap transactions.
Their idea was one of the winning submissions at the ETHWaterloo Hackathon.
For more information, visit www.gonetwork.co.
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