Review on Golem by Arun Kaul

Name: Golem
Item: Golem
Rating: 4

June 15, 2019

A Supercomputer at Your Service - Golem

When you think about Golem from the perspective of a massive worldwide supercomputer, then you can see the value and reason for excitement behind the project. 
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Think about it from a futuristic point of view. It might seem like science fiction (or something straight out of the Terminator movies), where all the world’s computers work together. They would all form an interconnected network which would have the ability to access enormous amounts of processing power.

Remember, however, that Golem is still in its infancy. But in the next five to six years it’s easy to see how the project could have millions of computers willing to offer their processing power to the network. This would give users the ability to perform enormous tasks with seemingly little effort in a short amount of time.

Of course, every project comes with drawbacks as well. Golem doesn’t do a great job of marketing itself and could do a better job of hitting its target dates.
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Pros

Gives users the opportunity to see their investment grow without third-party intervention.
Investors and traders can operate anonymously within the Golem network. With centralized institutions, your details and information are known by everyone within the network. This is different from Golem since its encrypted, which means your information is protected.
Earn GNT by renting out your unused computer resources. This is one of the main reasons many users are joining the GOlem network. You’ll earn payouts of GNT without needing to get into the complex algorithms and consensus models that many blockchain projects use. These include Proof of Work (PoW) and Proof of Stake (PoS) among others.
Golem’s team works hard to provide new features that make the project more reliable, effective and appealing to both users and investors. The team is committed to improving the system so that it can be a platform that many see as an opportunity for growth and advancement.

Cons

Many countries are passing regulations that directly impact cryptocurrencies and digital tokens. These types of laws and regulations can suppress the value of certain cryptocurrencies, and GNT will be no exception.
The Golem team does not work very quickly. The project has already missed several target dates and does not market itself very well to those outside of the industry. If a stronger competitor emerges, Golem could be easily moved aside.
Since Golem resides on the Ethereum blockchain, it can be directly impacted by the performance of Ethereum. This is different than other coins that rely solely on Bitcoin, which are completely independent. If a change occurs with Ethereum, more than likely GNT will have a similar experience.