Ana Sullivan

Golem (GNT) Token Falls down to $0.22 — Is This the End of It

by Ana Sullivan April 10, 2018

 

The Golem (GNT) token is an ambitious decentralized computing project that has continuously dropped in value. The current price levels are at $0.22 and looking at the market analysis experts find that there is a tendency for the token to continue in its decline. Several serious issues over time have played an important part in its devaluation.

Golem (GNT) Token Goals

The Golem (GNT) project to crease a global and open-source distributed computing network. Using the known concept idea and a blockchain-based transaction scheme (based on Ethereum) it aims to provide a stable infrastructure and smart contracts platform that can be used for various cases. And even though such networks are used all the way both for scientific and business purposes there seems to be a noticeable lack of interest from its followers. The market analysis reveals that there has been peak interest during several announcements and hype generated from marketing staff and investors.

Golem (GNT) Token Issues

An analysis of Golem's users community shows that one of the main reasons for interest withdrawal is the waiting time between incremental releases. Many users have stopped waiting for the main network release and have diverted their investments into alternatives that offer a faster development turnout. One of the proposed reasons for the withdrawal of community interest into the project is a recently discovered issue in the system (identified in version 0.14.0). Details about it have been posted on GitHub in an elaborate analysis. It reveals that there is an easy way of circumventing the work verification routine which is a critical vulnerability. Over the testing phase users have reported numerous issues with the Golem software. One of the most widely received errors is a connection error. Further investigations reveal that this is a UI (user interface) bug that will be fixed in upcoming versions.

Several experts have uncovered speculative articles posted on various online media, as well as hype messages posted on a variety of community forums and chat rooms about the potential Golem success. It is believed that the unlikely propositions contained within them have also made an impact on the token's performance.

At the moment the Golem token team is undergoing a strict audit that is required in order to deploy the main network. The findings made by the analytical company show that there are a variety of issues ranging from "strictly informative to high severity and priority fixes". The developers behind Golem have not posted launched an estimate time of delivery and this leads to further users dissatisfaction.

 

Comments 0

Type the characters that you see in the box (5 characters).