Golem (GNT) was one of the altcoins that rallied and pushed upward from recent lows. GNT is up more than 18% overnight while most of the market is stalled again, and has grown more than 27% net on a weekly basis to a price of $0.25.
Trading volumes have also expanded, repeating the levels of the December and January pumps. But GNT is far from the peak levels above $1, and in terms of BTC prices, has no chance for now of repeating the peak from the series of pumps in May and June 2017.
A Global Supercomputer
The Golem project promised to build a distributed supercomputer based on the Ethereum network and its hardware. On the surface, the proposition looks like that of EOS. However, the project took a long time to deliver any results, and GNT merely existed as an ERC-20 token.
In the past months, the project has been relatively silent, but a long-awaited announcement for a beta launch finally arrived:
Golem was one of the older ICOs, which has widespread adoption on exchanges. GNT is available through the Exodus wallet, as well as the Ethfinex exchange, especially created for ERC-20 tokens.
The one disadvantage of Golem as an investment is that its promised distributed computing has yet to prove itself. While the team was working, the Ethereum network saw significant overload. Additionally, many more similar tokens were created. And while Golem had an early advantage, it is now one of the many ICOs, and a lesser-known competitor to the EOS distributed operation system ecosystem.
Golem was one of the more successful ICOs that closed within 30 minutes, raising 820,000 ETH.
The first product of Golem is a marketplace for computational power that will boost performance for CGI rendering, architectural illustration, and similar computation-heavy tasks. At the moment, there are systems for sharing disk space, but few real-life solutions for harnessing processing power. The GNT token would be used as the payment in the new ecosystem.
Golem offers a fully distributed, P2P network for accessing computational power, unlike centralized providers.
This article appeared first on Cryptovest
