Ana Sullivan

Golem (GNT Token) After 6% Rise – Is It Exploding?

by Ana Sullivan May 28, 2018

The GNT token is part of the Golem blockchain and the foundation has recently  presented new demo and promo videos to the public. Golem is a decentralized computer network and many are convinced that it is already succeeding at enabling users to buy and sell computational power from other users in a peer to peer environment. Based in the Ethereum’s smart contract tech it increases trust in users to perform the transactions. And while people are buying into the idea and Golem’s price is sharply rising, many do feel concerned that with the ongoing fear and other suspicious tokens out of the way, Golem may not be able to reach it’s goals.

 

GNT Token’s Price – Current Activity

GNT token started the day off with a blast, rising 6.86% from $0.464240 all the way up to it’s current price at the time of writing this - $0.493656. This is accompanied by an overall high 24 hour interest in the token – 18, 967, 900 USD invested. And while this may not seem as much as it was when the token peaked at $1,16 in a stunning 71 million invested, it does speak good for how responsive it is towards investors interest. And not only this, but this price increase does suggest that bulls may be in play.

Golem Network – More Information about It

 

According to the CryptoCompare community, the Golem Network is:

”The Golem Network is a decentralized computation network. Using Golem users can buy or sell computational power from other users in a peer to peer environment. Golem is built using Ethereum smart contracts as a transaction system for nano-payments within the network. Golem Network Tokens (GNT) will serve as a secure medium for all transactions within the Golem Network.”

The network has been the reason for a lot of fuzz, including predictions by many analysts that the token may hit the $1 mark soon. There are several reasons why that may happen and then there are several ones it may not.

 

The Golem network has just expanded it’s force after being enlisted on Binance, which is one of the biggest digital currency trades on the planet. This increases the trust in the network big time, because Binance does not just enlist anyone. And not only this, but the network may soon expand it’s HR personnel and this may further boost the interest towards the token. And not only this, but the idea here is strong as well – Golem is aimed at a specific issue, which eliminates a lot of blockchain competitors of Golem with one idea – borrowing CPU and GPU power. This does contribute to what many now refer to as the IoS (internet of service) and may be the big leap forward many are expecting, especially when it comes to the B2B aspect and we take a look at it from the value-added perspective – using computer power as a service.

 

While this is completely genius, it is also important to know that the company has a lot of space to develop further and announce new projects that may come live soon. But while this happens and many do expect Golem’s price to be pumped, it is important to know that the blockchain and cryptocurrency market is listing newer and newer technologies every day and after all, it may all come down to the ultimate tech to rule at the end, but will this happen – we never know with technology because it is a very dynamic environment, and this is reccommended to never invest more than what you can afford to lose.

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