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Golem is a decentralized supercomputer that provides shared computing power to which users can access for a fee.
The processing power of the supercomputer consists of the combination of processing power of all registered users to the Golem network. Users can go from a person with a laptop to data centers.
The Golem cryptocurrency is the means of payment for access to the network.
Lending processing power to Golem
Anyone joining the Golem ecosystem can lend the processing power of their computer to others who wish to lease additional processing power.
Rent the processing power from Golem
Users can hire additional processing power to perform specific tasks or to accelerate existing tasks with which the user's computer might be in trouble.
This could be anything, but the market opportunity that Golem initially targets is around CGI (Computer Generated Imagery) rendering. This is a classic area where problems with processing power are present. Users and companies often outsource CGI processing to specialists due to intensive computer processing required.
The Golem cryptographic token
The Golem Network Token (GNT) is the means by which payment is made for the rental of processing power. It is an ERC-20 token and a billion GNT was created and distributed through the crowdsale.
Users can use the Golem Crypto only to lease the processing power, so it only acts as a means of payment that allows users and suppliers to use and participate in Golem's products and services.
Price analysis of Golem cryptographic tokens
Even the random observer of cryptocurrency prices will realize that price movements can be volatile and involve large movements (up and down) on a daily basis.
At the time of writing, GNT is worth $ 0.069. An analysis of price movements during 2018 shows that it experienced some volatile assets during the year. In January, it opened at $ 0.82, so the current value only shows how much the price has decreased.
2018 was marked with double-digit percentage falls for GNT. Nine months out of 12 saw prices fall, the largest of which was nearly 50%. This seems dramatic, but equally there has been a 176% price increase in April. However, despite this huge monthly increase, in general the model has been persisting double-digit declines.
However, GNT is not the only one to suffer falls in 2018. The year saw some dramatic falls for most cryptocurrencies. In early January, a Bitcoin was worth $ 13.850, and at the time of writing is worth only $ 3.994.30. Ripple started the year at $ 1.98, and at the time of writing, the price is $ 0.36.
So there was a dramatic activity in all the values of most of the criptos this year, but the development of Golem as a product could also have contributed to the erosion of the value of GNT. Some commentators indicate the two years that Golem takes to move from the Beta product to the Alpha product as one of the reasons why investors are less enthusiastic.
Purchase and sale of Crypto Golem
GNT can be bought and sold on a wide range of popular cryptographic exchanges. Some of the biggest exchanges that list GNT are Binance and Bitfinex.
If you want to know more about crypto and blockchain, we have a range of cryptocurrency guides on our website along with the latest cryptocurrency news.
