One crypto that I have been researching and purchasing lately is Golem coin
Their Mission
Golem is a decentralized super computer. Before I even expand upon that a little bit it sounds incredibly cool.
Basically what it is is a giant supercomputer that anyone can use to run any type of program, one example the website discusses a lot is the ability to render CGI through Golem.
It is made from "The combined power of user's machines"-https://golem.network/
It can also be used for business analysis, machine learning, science and more.
People can rent out their computer power to others and make rewards as well.
Technical Analysis
Golem saw some action this past week like many other crypto's, it is currently experiencing consolidation after its big spike.
You can see a pennant shape forming as Golem may be preparing for another spike, other indicators showing signs of this are the contracting Bollinger Bands and the RSI.
The RSI is about in the middle meaning that Golem is valued where it should be currently, it could be a good buying point as I think after consensus is over this week we could see another spike.
Definitely set a stop/loss though incase it continues to fall...However longterm this could be a great investment. The company is innovative and is attacking a new niche market for blockchain.
Golem also runs off Ethereum's blockchain so as Ethereum continues to grow in value theoretically Golem could too.
Let me know what you think!
Chart from: Tradingview.comResearch from: https://golem.network/
If anyone can run any type of program on the super computer, what's stopping that someone from doing something malicious with this power...?
That's a good point, I mean from what I gather they have reputation systems that form incentives to use it positively. I also see that it inherits a lot of Ethereum's security measures and I guess any computations done through Golem are performed on "isolated environments" and the company screens what is done quite a bit.
Those isolated environments have little access to outside networks according to the white paper:
https://golem.network/doc/Golemwhitepaper.pdf
Ah, interesting. I feel like the reputation system is always a good measure.
Thank God for Golem today cuz it helped me get the money back I lost on Abra from not knowing what the heck I was doing! Whew!