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Golem (GNT): Democratizing the Computing Ecosystem

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Golem
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Golem is reinventing the computing resources market by offering a decentralized global platform where anyone can participate and earn passive income. It does this by connecting computers in a P2P network to allow owners to rent out resources to users requiring extra computational resources. This essentially means that a person who possesses high-end computing equipment can monetize his resources by allowing others to access unused CPU or GPU cycles.

The cloud computing market is dominated by big companies like IBM, Microsoft, Google and Amazon that have on hand the resources it takes to set up massive computing farms. Their dominant market role gives them the opportunity to sell out these resources at huge premiums which create a high entry barrier. This is the barrier that Golem aims to tear down by decentralizing the service provision to eliminate oligopolistic practices.

The Golem Ecosystem

Golem makes use of a unique self-sustaining model comprised of three main network components. These are requesters, providers and developers. Their presence and participation on the network will play a crucial role in scaling this compute market and in creating a complete ecosystem to support the concept.

Providers include any parties that have computing hardware. In the initial stages, the platform will specifically require people with high-end equipment like gaming computers. But with time, even someone with a simple laptop can participate. The best part is that these parties will have incentives to offer their resources on the platform since they will get paid for the service.

Requesters are the individuals or organizations that require high-level computing tasks completed. Such tasks could include big data algorithms, CGI rendering for media entities, AI computations or complex physics or mathematical problems. A major highlight for them is that they can also become providers periodically when they are not using their own resources.

Developers on the Golem network can create decentralized apps and deploy them on the platform. The platform offers flexibility to allow for the development of any type of app which can be monetization. The developers will get Golem tokens (GNT) as rewards when others make use of their apps.

Golem as the Future of the Internet

One major highlight of the blockchain technology is that in its decentralized structure it eliminates the role of the middleman in most industries and Golem seeks to ride this wave too. The project envisions a future in which users exchange content directly without the need for intermediaries. To this end, it has the long-term objective of bulk-renting machines for large operations on a self-organizing network.

It might seem ambitious but a number of recent developments place it within reach. It is planning to make use of technologies such as Swarm and other data-sharing innovations to make Golem the go-to platform for microservices, accepting both small and large applications.

Golem seeks to become a global blockchain supercomputer with a versatile approach and as such, it is bound to get a vast number of distinct applications in the market. It is hard to predict the potential use cases but the widespread appeal of the concept sets it at a distinct advantage in the competitive crypto market.

We will be updating our subscribers as soon as we know more. For the latest on GNT, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency.

Image courtesy of coinmarketcap.com

Altcoins

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve,…

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CoinFlip Scores Big with BRD Wallet Partnership

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CoinFlip
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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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