GGPO actually stands for Good Games Peace Out. It was a project that was started by Tony Cannon to recreate the "arcade" experience through a network client, all the shit talk and rudeness included. Because I don't know if most of you know but that was how it was back in the day. Of course every area differs. The desire to create this client stemmed from the decline of arcades world wide.
It uses a "rollback" network coding technique which triggers when there is a lag spike. It then will essentially rewind to the point before the spike. This technique is very intensive. The games infrastructure needs to incorporate it. Older games can usually handle it very well. Modern games however have not used GGPO as the basis of its netcode because that must be expressed during the development cycle of the game. It is not something you can just initially patch into a game. This is just my basic understanding of GGPO so I may be mistaken in some ways. It can be used for more than just fighting games but it essentially was "made" for fighting games.
GPPO has been used in Final Fight Double Impact and Street Fighter III: Third Strike. It will also be used in the new indie fighting game Skull girls releasing sometime this year.
No my name is not a NARUTO reference. Its my last name translated from Hawaiian to english!
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