Connect with us

Cryptocurrency (Coins)

Golem (GNT): Decentralized Blockchain Computing Power Crypto Coin?



About The Golem (GNT) Platform

Golem is a global, open-source, decentralized supercomputer (or computers) that enables complex tasks like graphic rendering, mathematical or scientific computing and machine learning. Speaking to the millions who need computing power to develop apps and further ideas for production and release, Golem employs a token system that trades computing power and generates a network of like-minded users.

The Golem platform, in a nutshell, enables users and apps (requestors) to hire the available cycles of other users’ (providers) machines. Any user, from the owner of a single PC all the way through to a large data center, can now distribute and share resources via Golem. Those who sell and those who hire all transact with Golem Network Tokens (GNT).

Golem uses an Ethereum-derived transaction system to settle contractual payments between software developers and designers, requestors and providers. All computing and building happens in the Golem sandbox environment and is wholly disconnected from the parties’ systems.

Central to the Golem ecosystem are software developers. The company’s Application Registry and Transaction Framework allow anyone to develop, distribute and derive income from applications on the Golem network. The development team are already planning the future capabilities of the platform, saying that “future releases of Golem will bring major improvements to the protocol in terms of its flexibility and robustness.”

In this vein, and in order to ensure wide appeal that grows the user vase, the team is already conducting integration of a variety of new use cases to Golem’s offer, consulting with business and technological partners.

All a users needs to do to employ the Golem platform is install the app on their PC and they are good to go. A sophisticated inter-connectivity is at play behind the platform, allocating, measuring and invoicing for computing power consumed by individual users. Representing a decentralized co-working space, those with computing needs can temporarily hire the power. and those with power to sell can derive income from their downtime.

Alongside development of Golem’s core infrastructure, the company’s future focus will include a shift towards creating tools for developers and software companies. The solutions thus developed will make Golem a cost-effective source of computing power and, it is hoped, a viable contender amid existing cloud service providers.

Why is Golem a Great Idea?

The company’s first release, Brass Golem, focused on the single use case of CGI rendering. A requestor in the Golem computer-generated image marketplace can distribute processing of any LuxRenderer or Blender scene over the network.

Results are much faster when a user taps into a significant power boost on hire, and the task is run via a user’s own machine, at a negotiated price agreed upon between both the requestor and provider. One of the principal benefits punted by the developers is the creation of “healthy competition in the marketplace,” affording users a clear deal, where they know exactly how much they will pay for supplied power and can cost that into projects at hand.

Golem is as simple as installing the app. The company also promotes the exchange of roles, where those who have hired computing power on the platform are encouraged to then also sell theirs when they have idle time. Apart from CGI application, Golem is investigating and building for training machine learning models.

As a field of considerable current enthusiasm and investigation, huge computing power requirements often accompany developers in the machine learning community. Experiencing something of a bubble of interest at the moment, AI and machine learning are dynamic, emerging arenas and Golem is currently building basic proof of concept confirmations to facilitate these communities.

The company’s ultimate goal is to be able to provide developers with a set of tools to enable developers to host their machine learning stack on the Golem platform using the set of tools provided. Noting that the decentralization and democratization of computing power at competitive prices is key to diverse progress in the field of machine learning, the company is eyeing its future potential as a significant user base that can be facilitated on Golem.

The Golem Platform Team

Golem ‘s development team consists of the CEO and founder Julian Zawistowski, co-founder and CTO Piotr Janiuk, COO Andrzej Regulski and the last co-founder Aleksandra Skrzypczak. Other members in the football team list include Grzegorz Nowakowski, Paweł ‘chfast’ Bylica, Anna Sawicka, Marek Franciszkiewicz, Dariusz Rybi and Adam Wierzbicki.

Embellishing the development team further is Muhammed Tanrıkulu, Łukasz Foniok, Elena Steiner, Łukasz Gleń, Adam Mizerski, Igor Adamski, Magdalena Szydłowska, Gert-Jan Rebel, Chris Wacławek, Anna Gołębiowska, Piotr Chromiec, Przemysław Idzkiewicz and Karol Tomala. Jacek Muszyński completes the team as UX Designer, Daniel Horne is the company Community Manager and María Paula Fernández handles company relations.

Members have been drawn from a variety of fields, but the company has a firm focus on existing users with additional computing needs and is tackling cloud computing with a blockchain technology application. In its current stage, Golem is looking at high-growth potential user bases, apart from rendering, machine learning and AI development.

Wisely targeting large existing sectors with discernible user numbers and needs, the company is formulating a targeted, step process of establishing itself as an easy to use, friendly and communal portal.

Golem (GNT) Project Conclusion

Golem is unashamedly ambitious in its aspirations to become the default cloud computing option, especially for individual users. Trading on the egalitarian nature of blockchain technology, the company has composed a user-friendly, simple platform to facilitate the existing additional computing demands of current workers and developers in the CGI, machine learning and other fields.

Tallying sale price with input costs, any viable project can justify access to the option of dipping into massive computing power, while still bringing it all home once done.

Uptake and employment has already been substantial, prompting and enabling further research into machine learning and other arenas. With the advent of the IoT and advances in machine learning from various academic institutions and other players from around the world, the company is set to provide top-end services at a reasonable cost to end users in several specific emerging realms.

Readily available to simply pick up on pay-as-you-go individual users who have need of supercomputer power on an as-needed basis too, the latest Golem statistics page shows a full marketplace, one that is growing all the time.

Click to comment

Leave a Reply

Notify of

Ethereum (ETH)

Ethereum Price Analysis: ETH Approaching Significant Support Area



Ethereum Price Analysis ETH Chart

There was another rejection noted near $265.00 in Ethereum vs the US Dollar. ETH/USD is currently declining and approaching towards a couple of important supports near $254.00 and $250.00.

Key Takeaways: ETH/USD

  • Ethereum price formed a short term top near the $264.4 level and declined against the US Dollar.
  • ETH/USD is currently approaching the $254.00 support and a bullish trend line on the 2-hours chart (data feed from Bitstamp).
  • Bitcoin price remains in an uptrend and it could accelerate gains above the $8,300 level.

Ethereum Price Analysis

Recently, bitcoin price gained momentum and broke the $8,100 and $8,200 resistance levels. However, Ethereum price failed to gain traction and formed a short term top near the $264.4 level.

Looking at the 2-hours chart, Ethereum price started a downside correction from the $264.41 high and declined below the $260.00 level. There was a break below the 23.6% Fib retracement level of the last rally from the $236.89 to $264.41.

Ethereum Price Analysis ETH Chart

Besides, there was a break below the $258.00 level, but the price found support near $255.00. Moreover, the price is approaching the $254.00 support and a bullish trend line on the 2-hours chart.

Below the trend line, the main support is near the $250.20 level and the 50 simple moving average (2-hours, purple). The 50% Fib retracement level of the last rally from the $236.89 to $264.41 is also near the $250.65 level to act as a support.

If there is a downside break below the $250.00 support, the price could extend losses and decline towards the $243.50 zone. The 76.4% Fib retracement level of the last rally from the $236.89 to $264.41 is also near $243.40.

Conversely, if the trend line support holds, the price is likely to start a fresh increase in the coming sessions. An initial resistance is near $260.00 and a connecting bearish trend line. A break above the $260.00 barrier might start a strong rally in Ethereum price above the $265.00 level.

Overall, ETH price is trading with a positive bias as long as it is above $250.00, and it could rise again above $260.00 and $265.00.

Continue Reading

Bitcoin (BTC)

Bitcoin Price Analysis: BTC Setting Up For Another Bull Run



Bitcoin Price Analysis BTC Chart

After a major decline, bitcoin price started a solid upward move above $7,750. BTC to USD gained momentum above $8,000 and even spiked above the $8,250 resistance area.

Key Takeaways: BTC/USD

  • Bitcoin price formed a strong support above $7,550 and recently climbed higher against the US Dollar.
  • BTC/USD broke the main $7900 resistance and a couple of bearish trend lines on the 2-hours chart (data feed from Bitstamp).
  • Ethereum, ripple, and bitcoin cash also gained momentum and moved into a positive zone.

Bitcoin Price Analysis

After testing the $7,500 and $7,520 levels on multiple occasions, bitcoin price finally started a fresh increase. BTC started an upside reversal after it successful broke the $7,600 and $7,850 barriers.

Looking at the 2-hours chart, bitcoin even broke the main resistance near the $7,900 level to move into an uptrend. Finally, there was a break above the $8,000 level plus a close above the 50 simple moving average (2-hours, purple).

Bitcoin Price Analysis BTC Chart

During the rise, the price even broke the $8,150 resistance and a couple of bearish trend lines on the same chart. A new swing high was formed at $8,266 and the price is currently correcting lower.

It broke the $8,150 level and the 23.6% Fib retracement level of the recent wave from $7,903 to $8,266. However, the price is currently finding a strong buying interest near the $8,060 level.

The 50% Fib retracement level of the recent wave from $7,903 to $8,266 is also acting as a decent support. The main support is near the $8,000 level and a connecting bullish trend line on the same chart.

Therefore, bitcoin price is gaining pace and it remains in an uptrend as long as it is above $7,980 and the 50 simple moving average (2-hours, purple).

On the upside, an initial resistance is near the $8,100 level and a connecting bearish trend line. A successful close above $8,100 might start a strong rise in the coming sessions.

The next major hurdle for the bulls is near the $8,250 level, above which the price might start a rally towards the $8,500 level.

Continue Reading

Price Analysis

Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH) Price Analysis June 10th



Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH) Price Analysis June 10th

BItcoin BTC/USD Forecast

Last Friday the price of Bitcoin came up for interaction with the first significant horizontal resistance at $8140. As the interaction ended as a rejection the price was propelled in a downward trajectory and came down to the levels of the prior low at $7576 which was a decrease of around 6.7%. From today's open which was around the mentioned prior low level, the price has increased by 5.43% with strong bullish momentum as the majority of the increase occurred in only one hour but we are now seeing the price struggling to keep up the upward movement slightly lower then on the prior high.


Click to see a full size chart

On the hourly chart, you can see that the price encountered resistance, indicated by the wick from the upper side of the last hourly candle and is now likely to keep interacting with the current level as it's retesting it for resistance further. If the price manages to keep up the upward movement we could see a breakout to the upside from the first significant resistance point and to the next on at around $8500.

This would be unlikely if the found resistance proves to be stronger then the currently seen bullish momentum as a rejection at the current levels would likely lead to a lower low below the one made on 5th at $7506. The price spiked to those levels on today's open but a proper interaction with a lower spike would likely occur if the increase was seen would be stopped out at the mentioned first significant resistance as it would mean that from last Thursday we have been seeing the development of the five-wave move to the downside out of the starting downtrend.

Litecoin LTC/USD Forecast

Last Friday the price of Litecoin increased by around 9.6% coming from $109.96 to $120.47 at its highest which has pushed the price above the first significant resistance level at the descending channels resistance. The price came down for a retest of support at the broken level over the weekend and as it found support it continued moving to the upside above the prior high level, coming to $126.8 at its highest point today.


Click to see a full size chart

The price came above the 0 Fibonacci level which was the ending point of the prior high and above the next highly significant horizontal level at $122.32 above which it is considered to be the sellers' territory. I was expecting the price to start moving to the downside after an interaction with the first significant resistance at the descending channels resistance but as the price continued increasing further past the other significant resistance point we have likely seen the development of another five-wave move to the upside. As the move looks finished or near completion and especially considering that the price has entered the seller's territory I will be shortly expecting the start of the impulsive move to the downside.

Even though we have seen a five-wave increase I don't believe that its the starting upside wave, but is more likely the second correctional structure after the first one currently labeled as a WXYXZ correction ended. The price did make a higher high but this can also be seen on a corrective move usually ending as a running flat. If we are soon the see the start of an impulsive move to the downside the first significant support zone for the price of Litecoin would be at around $83 area.

Ethereum ETH/USD Forecast

The price of Ethereum has increased from today’s open at $228.8 by 6.59%, coming to $243.4 at its highest point today but has encounterd strong resistance there and is currently being traded slightly below those levels.


Click to see a full size chart

On the hourly chart, you can see that the price came down over the weekend below the prior low at around the vicinitly of the 4th wave’s ending point from the previous upside move where it found support as the price immediately started moving impulsively to the upside again.

The rise has been stopped out at the previous horizontal support which now serves as resistance but since a breakout occurred to form the descending triangle which was formed from 30th of May we are likely to see the increase continue for a bit longer before the price continues moving to the downside again.

If the descending triangle was the first structure out of the starting downward move, the increase seen from today could be viewed as a correctional upside move in which case it cannot exceed the 258 level which is around half range between the last Thursdays high and today’s open.

Bitcoin Cash BCH/USD Forecast

Over the weekend the price of Bitcoin Cash has decreased by 8.2% as it came down from $409.2 to $375.6 at its lowest point. From today’s open around the mentioned low level we have seen an increase of 5.36% to $395.7 but the price has encountered resistance as the rise has been stopped out.


Click to see a full size chart

On the hourly chart, you can see that the price decreased slightly above the last week’s low at $366.5 made on Wednesday which is why a lower low before the completion of the downward move would be expected if we are seeing the development of the five-wave move to the downside out of the starting downtrend.

If we are seeing the development of the 4th wave it cannot go above the $413 which the price interacted with over the weekend and found resistance there which makes this possibility higher. As the 4th wave is corrective in nature it could mean that today’s increase is still its development which we are to see from the currently encountered resistance interaction.


Over the weekend the prices have continued increasing to their first significant resistance point and have gotten rejected with the price going to the levels from which the increase was made. This movement could have been the end of the first wave from the starting downtrend but a more likely outcome would be that another lower low is coming before we see some major upside correctional movements.

Continue Reading