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 |