If you are a fan of the crypto-currency industry and you want to know what the future holds for it, then we have some good news — decentralization is going to become even more mainstream in the near future. One of the best ways that it can get a boost is by being more widely used as a currency. The problem with this right now is that cryptocurrencies have been too volatile to be used as a day-to-day currency, but one company called Golem believes they have found a way around this — and if their predictions are correct, their team may well make cryptocurrency king.
The details on what this new cryptocurrency is supposed to be used for haven’t been released yet, but if Golem’s current plans are accurate it will be one of the most powerful currencies in existence. The company hopes that this will see them overtake Bitcoin as the main usage of it, which would make it one of the main contenders to replace fiat currency in today’s world.
Golem aims to bring the latest advances in blockchain technology to the masses. The Golem Project seeks to create a global supercomputer that anyone can use to rent out their unused processing power and get rewarded for it.”
They have been working on it for quite some time now, even having launched a crowdfunding campaign earlier this year that raised over $930,000. However, more recently they have had multiple delays that made investors lose faith in the whole project and make them change its focus from being a crowdfunded project to just a crowdfunded company. Now that they are getting close though as per their recent alpha testing it shouldn’t be too much longer before we begin to see them actually release something.
The timing of Golem’s release is also very interesting as it would come just after Ethereum enters into a proof-of-stake stage, where they will try to move away from their current proof-of-work model. If Golem can gain momentum it could actually become a much better system than Ethereum, making it one of the best future contenders for cryptocurrency.
Where will Golem’s main platform and tokens be stored?
Golem’s storage of the main platform and tokens are not a problem as they have stated in the past that they won’t be storing any of their tokens in a location, instead only storing them on their payment processor partner’s (e.g. BitPay) systems. They believe that this makes things much simpler for those users to manage their assets and ensures that they have a lot of control over them, but it makes managing them rather more difficult for others.
I heard that Golem’s partners aren’t going to release their tokens to the public?
This is true, however, they are currently in talks with Golem’s partners to get the issue resolved. They are currently working to make sure that their users can use their tokens as per the contract agreement and have already stated that they will have more information about this in the future.
How will Golem’s token be distributed?
Golem’s token distribution will be done by their partners, with the tokens being bought using Bitcoin, the main currency of the Golem platform. The tokens will then be sent to users’ wallets once they have filled out a form and received their payment. However, when doing this Golem’s partners are going to hold on to them until users provide them with a legal letter that states that they have read and understood their contract. This means that it is safer for everyone involved as it removes any risk of failure in delivering the tokens to users.