Gridcoin SWOT

in gridcoin •  2 months ago

What about a quick SWOT analysis of Gridcoin project? This could give us some clues about course of action in 2019 and current state of the project.

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Strengths

  • Developers work diligently and have pushed several updates during 2018; slack development channel is busy with code discussion and improvements proposals 365 days a year regardless GRC market price
  • Average number of active users is steadily growing despite huge GRC price losses during 2018

Weaknesses

  • Gridcoin is a currency system, but GRC is not working as money - you cannot buy almost anything with GRC; you can almost only exchange GRC for some other cryptos, like BTC or LTC
  • Interest in BOINC is slowly diminishing over the years
  • While Gridcoin network is several times faster and has larger throughput than Bitcoin network, still it has scalability issues and is very slow in comparison to Stellar or Steem

Opportunities

Threats

  • Several projects (like Golem, Hadron and a few more) aim to build distributed computational networks and markets
  • Governments will force more regulations on cryptocurrencies and are unlikely to peacefully give up currency control
  • Low GRC price has negative impact on new users acquisition and development capabilities due to low Foundation fund value.

What would you add to the list or remove from it?

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Opportunities:

  • Low prices means it cheap to buy stake weight.

Opportunities: Removing team requirement increases potential size of Gridcoin's userbase significantly.

Opportunity:
Improve first time user experience for none technical people by optimising installation process of Gricoin wallet, BOINC and BOINC projects.

Threat & Opportunity:
Cryptocurrencies considered a waste of energy (in general)

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Interest in BOINC is slowly diminishing over the years

How did you come to this conclusion?

·

Number of active users has halved during past two years.