Golem Coin (GNT): B+
The Golem Project is a great blockchain to support. I expect huge gains in the near future when Brass Golem launches, with more to come following Clay, Iron, and Stone releases.
From identifying-successful-blockchains:
| Application | Decentralization | Inflation | Speed | Community |
|---|---|---|---|---|
| A+ | A- | B+ | C | B |
Application
Golem is going to be a worldwide supercomputer for rent. You can rent your computer to Golem in exchange for GNT tokens, or you can buy time on the super computer with said tokens. Brass Golem is releasing soon™ and will be geared toward CGI artists.
During the Brass phase, our main target group are CGI artists who currently use services of render farms (or do not use them, e.g. because of high prices). Once the technology is ready, we are going to launch a fully-fledged marketing campaign.
The potential of this product is seemingly boundless. ANYONE will be able to use a supercomputer whenever they want, wherever they want. It's an insane notion impossible to achieve without blockchain technology. Entire businesses may form based from this technology; just like companies similar to Uber and Tinder could not exist without smartphones.
Unlike most other cryptocurrencies, mining GNT is actually going to be helpful and do good for the world. This is going to create an amazing balance between mining Golem and utilizing its services. If computing power is cheap, someone will find a way to capitalize, thus buying many coins. These coins are worth more than they cost, driving the price up. If computing power is too expensive more people will want to join the network, lowering the cost. This is so very superior to coins like Bitcoin that just have everyone competing to mine coins using a wasteful hashing function.
Decentralization
100% of all coins will eventually be in the hands of miners or people that bought coins from miners. This will be very good for decentralization. Anyone with a computer will be able to get coins. The Golem Team will also be working to make mining software more user-friendly, bringing even more miners into the fold.
It's obvious that entities with access to more powerful computers will be able to mine more coins. That's just the name of the game. Luckily, ASIC machines will be worthless here except in the case of actually using Golem to specifically mine other cryptocurrencies. Also, there is no reason that big players would enter the GNT mining market unless it became extremely valuable.
Inflation
Golem has no inflation. There are simply a billion tokens. In order to mine Golem you rent out your computer to the Golem supercomputer. This deflationary mechanic is going to make the price skyrocket. Every time coins are lost, the price will go up permanently. Every time coins are hoarded, the price will go up until they are spent. There could even be the possibility of market manipulation if the devs aren't careful, but I won't be too worried about that until much later.
Speed
Golem is an Ethereum-based smart-contract token. As such, it is tied to the Ethereum network. This could be bad news if the network gets too clogged with transactions. Golem isn't even online yet and the Ethereum network is struggling. However, if/when Ethereum fixes its scaling issues this will be nothing to worry about.
Community
From what I can tell the developers are very intelligent, however overzealous. They constantly have to push back release dates due to unforeseen problems. This is very typical for software projects, but at some point you'd expect they'd start accounting for such snags in development. I'll give them a free pass because this technology is something we have never seen before.
Investors are very excited and impatient for this blockchain. In general, I assume that people wanting to mine and buy GNT are statistically less likely to pump and dump. There are probably a lot of computer scientists in the mix. It is, after all, a currency based on cooperative computing. Early adopters of this altcoin know it's potential and will likely #HODL until it gets huge. This should help soften the blow of massive downswings that we see in other coins.
Summary
This blockchain is way ahead of its time. Although the price of GNT has already skyrocketed from $0.01 to $1.00 in the last year it still has a long way to go. So far, the price is merely speculation of an incredible application. Once that application is actually implemented, the value will go to the moon if it's even 10% as good as it could be.
| Application | Decentralization | Inflation | Speed | Community |
|---|---|---|---|---|
| A+ | A- | B+ | C | B |
good writeup, but there is an over-assumption here:
even if Eth fixes its current scaling issues so it's 10x faster, it will be killed again by just 10 DAPs running at the peak demand of cryptokitties.
Steem can literally be scaled >10,000x beyond Ethereum, currently upto 4000 times, but the HF modification architecture is already ready to be made for further scaling. The eth raiden implementation will be looking at a hybrid DPOS further validating the DPOS architecture, heck even ADA just proposed using DPOS at best giving it a tenth the speed and capacity of current Steem.
EOS will be the ultimate DPOS with >100,000 Eth capability, but it serves like a blockchain OS and direct competitor to Eth, whilst Steem focuses on media (and this is 4-5 Trillion Global Stock market industry) and so EOS would only marginally overlap with Steem or Bitshares.
Just thought this might be of interested to you. Get some Steem now on the cheap at $4-$5, your grandchildren will thank you.
It's true, Ethereum is already becoming outdated. At the same time, it wouldn't be impossible to have alternative Golem payment methods in the distant future.
Also, everyone thinks the best newest blockchain is in competition with the older ones. I'm not sure this is the case. Coins like EOS actually help Ethereum by taking some of the scaling burden away.
We assume that altcoins compete with each other because that's the way the world has always worked.
Capitalism is king. However, blockchains are something we have never seen before. Abundance for everyone is now a possibility.
Competition for DAPs is real, and market share is real
Unless we find a way to sustain 20 Billion humans on earth in an environmentally friendly way over the next 100 years, then resources will still need to be managed.
I believe strongly in abundance, however, in the near to mid future, there will be many new adoption and even larger number of discarded ideas and concepts, as superior ones arrived.
Today, bitcoin core, main value is almost only its brand, it's functionality has already became a social burden, it's creation an environmental hazard, and it depleting influence is encouraging scammy behavior by legitimate exchanges discouraging purchase via other cheaper fiat gateway, and you know the syndicate private & centrally owned mega-miners are deliberately doing this to earn fees and not mine coin, so what does that say?
There will need to be a whole lot more intrinsic value added to the the blockchain tech that must be scalable ready for mass adoptable so we can usher in innovation before constant abundance start flowing, that I can assure you will be the sequence of events.
The value of Bitcoin is indeed only brand. On the same note, the value of brand is huge. Bitcoin leads the charge in making cryptocurrency mainstream. Every other coin benefits from Bitcoin, which is one of the reasons why I think perceived competition between coins is greatly exaggerated.
I'll believe in competition when a clear victor is established between two "competing" coins. One coin would have to absorb another coin's market cap.
That brand is >50% of all crypto, it's a 9 year old brand and yes it's leading the charge, but us in the know hope it will itself evolve, if not, the technology will keep moving on brand or not. I'm sure there were great brands during the start of the office age like Kodak, industrial age, heck probably even during the stone age.
myspace and friendster still exist today but as a shadow of it's past self, you can be assured a majority of their prior and possible 'cap' aka user were absorbed by faceBroke, instaSelfie, useTube, and the likes.
Economic theory gives us a clue of wealth expansion when new equity is created, but note, until and unless interoperability exist between fiat, goods, services, and and technological boundaries broken, abundance will trickle and be stifled, we will see it flow when some key pieces of the puzzles start to fit in.
There will be overlaps of winning formulas like how faceBroke co-exist with useTube, but don't doubt the existence of competition.
Great Brands....But They Only Last an Age
hope the pickie i added enhances your post :)
I'll take the Rocket Gun please. lol
Good choice:
That will be $8,500 for that collectible, payable via
** price of Steem in the turn of the next decade