24
Mar

#Golem – Let’s know the Power Coin

Everybody (more or less) know what Ethereum “is”: a secure and fast cryptocurrency. Less know that the real power of Ethereum is the Network. This AMAZING network makes possible to create tokens value (coin) that can use the ETH network to be used and grow, paying just few ether (obviously depending on the project size). This opened the doors to multiple projects (most of them could be revolutionary): without being worried about network’s power (is the Ethereum power, it’s enough power for every project), devs can focus on other, innovative aspects. This incredible dev ecosystem is where Golem (GNT) is born.

What is Golem?

Golem claims to be the new Worldwide Supercomputer.

Standing to Golem’s website:

Golem is a global, open sourced, decentralized supercomputer that anyone can access. It’s made up of the combined power of user’s machines, from personal laptops to entire datacenters. Anyone will be able to use Golem to computer [almost] any program you can think of, from rendering to research to running websites, in a completely decentralized & inexpensive way. The Golem Network is a decentralized sharing economy of computing power, where anyone can make money “renting” out their computing power or developing & selling software.”

 

This made thing more clear (and exciting): Golem wants to create a giant network where user rents their own computing power. To use a portion of this power, you’ll pay some Golem Coin (GNT) to who is renting the power. And that’s INCREDIBLE: the possible developments could be infinite. Anyway, the great incognite is: how much will cost this “power”?

Not every time “decentralized” meaning better: the efficiency of a centralized system 99% times is better than a decentralized one. In this case, the main “competitor” of Golem is Amazon: everyone knows Amazon’ service, very similar to what Golem is offering, and it has very competitive prices.

What are the points in favor of Golem?

  • Golem is decentralized: this means that it’s very hard that a service running on Golem Network could be taken down by governments/any other subject.
  • Golem could be used for spot use (without have to subscribe a period of other services) and you pay only what you use.
  • Developers is some disadvantaged areas (where Golem’s competitors are not available/credit card don’t work) are able to use a very good “cloud-computer” at reasonable prices
  • The Golem’s developments are more or less endless: it’s to devs keep on creating service around it.
  • EVERY process could work on Golem: this means that every kind of project that it’s against Amazon/competitors rules can smoothly run on Golem.
  •  Golem could be the biggest decentralized mining pool on earth.
  • Golem Coins run on Ethereum Network: fast, secure and scalability.

Now, what the points against Golem?

  • Golem is a decentralized service. This means (actually) less efficiency than a centralized service (Amazon). At the moment Amazon offers better prices for more or less the same services.
  • Actually is still in deep development phase. Obviously, this means great growing margin, but actually, it’s not user-friendly like other systems.
  • GNT (Golem Coin) are far from being accepted globally: if I sell my power for some coin, I want to be able to easily change this coin to a flat currency (to pay bills, machines etc.)
  • GNT are far from being accepted globally: this means that I could encounter difficulties finding enough Golem to pay the power I need. This is not a great problem anyway: Golem could include other most diffuse currency as payment way in few steps.

Now, what are the possibles scenarios for Golem?

(please, keep in mind that Golem is still in developing phase, so it has a big potential growing margin. Anyway these are pure assumptions)

  1. Golem’s Dev team is made of genius (probably), they are able to create an efficient network where both parties (who takes and who gives power) are satisfied, where the power cost is less than Amazon/other competitors service and it’s convenient selling power to the network too. Golem Coin’ circulation grows and it’s easy to buy and sell.
  2. Though Golem’s Dev team is made of genius, buying power from users is too much expensive than buying the same power from Amazon
  3. Golem is able to implement is network with tons of other Ethereum Service (like Storj, a service like Golem, but to sell and buy Cloud Storage), this union create an impressive, cheap  Network, able to satisfy every dev need all around the globe

Conclusion

Like many other Ethereum (and Counterparty) service, Golem is still in an early stage, and it has a giant potential. We are glad to see similar service born and start working: they are the lifeblood of the ecosystem Ethereum, and EVERY of this service gives valor the network. Actually, we are investing in some Golem Coins because, even if the project is still in the beginning, the possible evolution are good. Anyway, unless you have info that we haven’t, we suggest to dedicate a quite small portion of your Atlfolio, and always take a look on Golem Project.

 

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