Golem Price 2020
The first price displayed on the CoinMarketCap’s token page is $0,015749 — it was offered on November 18, 2016. Further on, it dropped a bit by the New Year’s eve. GNT finished the first calendar year on the $0,009673 mark.
2017 was much more impressive for the asset. At first, it took the skyrocket course in the middle of the year. GNT got the 700% gain to the middle of June when the price reached $0,715. After that, the price dropped to the $0,3 line and traded around that level in fall. But, at the end of the year, GNT started to grow again and reached even higher peaks. The token closed the year on the rate of $0,722.
The token continued to soar in January 2018. The price reached $1,25 on January 8 — it is the all-time high so far. After that peak, the price went down and winded up on the bottom line of the first half of 2018 — it was $0,193 in April. In the next month, GNT won back part of the positions and reached another peak, $0,896. But, after those high times, the chart started to slide down. GNT cost was $0,07 at the end of the year.
Like for many other cryptocurrencies, 2019 became the year of struggle for GNT. The first six months were the period of slight regain when the asset tried to make it above $0,1, but only sustained there for a while. The second half of the year was marked by a bearish trend. It led to the zone under $0,05 in October and continued to go lower.
As of this article making in December 2019, the current price of GNT is $0,029003. The asset’s market cap is worth $28 424 774 that is #108 in the overall cryptocurrency ranking. The recent trading volume is $3 629 235. The supply in the current circulation is 980 050 000 GNT, while the total one is 1 billion tokens. There is no information about the maximum supply — it is expected that the project will additionally issue tokens if needed. The ROI calculated with the current and initial prices is 92,7%.
There are good opinions on the project’s future among crypto experts and analysis portals.
- Captainaltcoin website states that the price will reach $1,25 in 2020 and will possibly outbreak the $12 line.
- Tradingbeasts portal predicts the average price in December 2020 will be $0,0055.
- Cryptoinfobase’s article states that the all-time high repeat is possible in 2020. And even if not, they consider $0,8 to be a reachable price.
Don’t take it as financial advice, but GNT is definitely worth noticing and considering as an investment option.
What is Golem (GNT)
Golem is an Ethereum-based blockchain project that serves as a marketplace for renting computing power. The primary use scenario is quite simple: someone who needs a complicated technical process to be executed can lend additional resources to network participants’ computers. The method may be a video or computer graphics rendering, complicated calculations, or anything else requiring high performance.
The native ERC20-based token of the net is called GNT. It is a utility token — the main purpose is paying fees for the computing resources rent. It can’t be mined, the only way to get it is earning by sharing your computer or rigs performance with other participants’ – if someone uses your hardware for their purposes, you gain GNT. Of course, there is also the way of trading: as of this writing, GNT is listed on many exchanges, including major ones: Binance, Bittrex, Huobi, and Upbit. There are trading pairs mostly with BTC, ETH, USDT, KRW, and USD.
Golem technically allows implementing dApps (decentralized applications) as tools for maintaining the needs of users. Developers can use this feature to solve the compatibility issue between software that requires the computing power and blockchain environment. It’s a bit, sophisticated system that is still to be simplified.
There are two algorithms that help in maintaining the network’s functions:
- System of consents — third-party verified developers who manually monitor the correctness of different operations within the blockchain. They can double-check and confirm results and manually help processes that got stuck on some level if needed. Consents earn an additional GNT fee for that work.
- Intel Software Guard Extensions (SGX) — an algorithm that creates a protected area in a computer’s memory for some process. This technology also provides end-to-end encryption and protects the information from any kind of fraud from the outside. In other words, SGX is the thing that makes sure that someone will not compromise the data you process with their computers.
The company behind the project is called Golem Factory — a Switzerland-based IT-team. They released the ICO token sale in November 2016.
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