Golem is both a cryptocurrency and a peer-to-peer network with the GNT token serving as the internal currency. The project was initially designed as a decentralized supercomputer. Its nodes make up a single computer. They are designed to solve certain problems. The developers aim to create a global computing market as a single decentralized network. Let’s read about the cryptocurrency and compare Golem (GNT) price prediction.
The Golem project was created by the Polish entrepreneur Julian Zawistowski. He realized that many active computers often stay turned on and work in idle mode. For the rational use of their capacities, Julian decided to create a pool by combining user computers into it. As a result, he created an ecosystem that can help to solve various problems at leased facilities. Users are offered passive earnings without extra effort. Each person determines how many resources (processor power, hard disk space) are leased.
Like many blockchain projects, Golem organized an ICO to raise funds for development. The training camp took place in November 2016. Sales ended in 20 minutes. The team raised 820,000 ETH or $8 mln at the time of sale. For every 1 ETH contributed, investors received 1000 project tokens.
The total amount of issued coins was 1 billion GNT. 82% of them were sold, and 18% the developers left for themselves. Why Golem has decided to issue so many coins? Such huge emissions can be explained by the following reasons:
- Simplified block mining;
- Operational transactions;
- Low risk of illegal operations and frauds.
GNT Coin Fundamental Value
GNT (Golem Network Token) has several functions on the Golem platform:
- Payments between Applicants and IT Resource Providers
- Payment to software developers
- Compensation of testers / validators of new software implemented on the platform.
Suppliers offer networks their capacities for various calculations. Users who need the power for certain computing act as customers and rent resources from suppliers. Using special software, customers set up a specific list of tasks for performers. When the cost suits both sides of the transaction, the automatic division of subtasks takes place.
Distribution of subtasks will be performed by computing nodes (suppliers). System participants can change their category, and switch the role from customers to suppliers. When all the fragments of the completed task are sent, a GNT payment is sent.
Software developers have their own tasks. They deal with various programmatic issues in order to improve the platform. The network provides a registry for applications. By using it, anyone can sell their own developed software. The author has the right to set the price and determine the payment option.
The creators of Golem allow everyone to rent idle capacity. It will be used to perform such tasks as:
- Cgi rendering (generating graphics on a computer, for example, for special effects in films) and processing graphics on a computer;
- Scientific calculations: in biology (dna analysis), in mathematics (monte carlo method), in chemistry and physics (creation of materials of a fundamentally new generation);
- Business analytics: predicting market trends, analyzing large amounts of data;
- Cryptography: factorization of large numbers, support for mining pools and more;
- Machine learning – processing large data sets and training neural networks on them.
Information about Golem (GNT) coin
|Asset Type||ERC-20 Token|
|Curr. Supply / Total Supply||980 050 000 / 1,000,000, 000 GNT|
|ROI since launch||131,89%|
|Launch date||19 November 2016|
Golem 2018 Price History
A year ago, the price of GNT was at its high, especially in the spring of 2018 when the team introduced a new version of the user application. Today, anyone can download Brass Golem app and rent out the power of their computer. The power capacity is mostly used in professional programs for CGI rendering LuxRender and Blender.
Throughout 2019 Golem price has fallen. There are several reasons for that including a long-lasting bearish market that happened in Q1-Q2 2019, as well as a low number of platform users.
To improve the situation, the company has decided to switch its focus to gaming blockchain solutions. More features will be developed as part of their partnership with Hoard developer, for example, re-compressing textures in graphic design and fixing data of global lighting, shadows, and static lighting. The Hoard team will act as an adviser for game developers, as well as an external developer at the preparation stage.
Golem (GNT) Technical Analysis
Check the market projections on GNT coin from TradingView:
GNT Community Reputation
Golem has become pretty popular in crypto community thanks to the following advantages:
- The platform is built on Ethereum, which allows developers to correctly write smart contracts;
- Attractiveness and relevance in the community of the main idea of a startup;
- Use of the Ethereum blockchain guarantees uninterrupted operation and system security;
- The platform can be used to solve a wide variety of tasks, which makes it universal;
- Privacy – all calculations are performed on a virtual computer. However, suppliers cannot influence processing in any way. They also do not have access to the processed information;
- The team includes developers who are known in professional circles;
- Anyone can get coins, even a person far from cryptocurrencies. To do this, simply install the desired program on the PC.
In 2019, the popularity of Golem raised together with related news. For example, in June 2019, CEO Julian Zawistowski announced the launch of a new division called the Golem Foundation.
Golem (GNT) Price Predictions
There are practically no GNT price prediction from crypto influencers. In 2017, John McAfee’s Golem coin price prediction 2018 was $5 (it did not come true), but today, most of the experts are mostly bullish about less popular cryptocurrencies. We have managed to find a few GNT price forecasts on prediction websites. Let’s analyze some of them.
Taking into consideration the current GNT price, it’s not possible for the token to rise by 2000%. The website also states that in 2020, Golem price should climb over $1.30 as both consumer and institutional adoption grows. That seems to be possible if the creators manage to attract more customers.
Its Golem (GNT) price prediction 2020 is $1.25, which also seems to be a reasonable sum only if the company manages to enhance the range of provided services and expand the audience.
The website’s Golem token price prediction is actually about zero fluctuations. GNT cost is expected to stay the same as today, e.g. keep around $0.03 level. This is a very likely outcome. In 2020, GNT price can fell to $0.029, which is also possible if there is no bullish crypto market period to take place.
Trading Beasts’ Golem (GNT) price prediction is $0.27 in one year. This is a pretty realistic forecast which might actualize in 2020.
Our Golem (GNT) price prediction
In 2020, it has all chances to reach the $0.20 level, especially if the crypto market evolves and the project attracts more users.
Buy GNT at Changelly with USD, EURO or GBP
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Disclaimer: This article should not be considered as offering trading recommendations. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. While price analysis is a useful tool, it should not be considered predictive for the future performance of any investment instrument.