Meet Golem – an innovative company that aims to be “the AirBnB of computers” by allowing people to rent out unused computing power. Even though there are still some concerns about the network scaling of the app going viral, the price of Ethereum is up sharply because of the successful product launch of Golem.
A Technology Based On Ethereum’s Infrastructure
After going for a major downfall, Golem’s technology (which is based on the Ethereum infrastructure) came into the picture just at the right time – representing one of the reasons behind Ethereum’s successful rebound.
The work on Golem has been here for more than 2 years straight. Therefore, it is safe to say that the application was long-awaited by many. For Ethereum, the app was launched at the right hour and there is no reason why Golem would not be known as “the revolutionary app being the AirBnB for computers.”
Golem was also one of the first ICOs which went using ETH currency for their first ICO sale. The name of the Golem token is GNT and during the first token sale – has managed to collect even 820.000 ETH in the course of 8 minutes. This made Golem (GNT) climb to $8 in accordance with the price of Ethereum.
Users Will Be Paid In GNT Tokens
All of the users working on the Golem application will be paid in GNT tokens which can be exchanged with other currencies or traded whenever possible. With over 800 million GNT tokens being put in circulation, the new cryptocurrency powered by Ethereum is already a big hit.
In addition to this, the launching of Golem (GNT) was one of the main reasons why Ethereum got back to and beyond the $400 mark. Analysts say that this ICO sale has been made “in the right hour” allowing Ethereum to kick back and grow in the last couple of days.
Image Credit: Descryptive.com
Third Audit Attestation Of USDC Stablecoin Reserves Released By Circle
“As of the Report Date and Time, the issued and outstanding USDC tokens do not exceed the balance of the US Dollars held in custody accounts.”USDC is a stablecoin that is based on the Ethereum (ETH) ERC20 token which was first announced in May 2018 after Circle successfully raised $110 million from investors. The CEO of Circe Jeremy Allaire explained more about USDC by saying:
“It’s a version of fiat that can move at the speed of the Internet with global reach, with much less cost, with high levels of security. It’s a huge improvement for how fiat money transmission can work around the world for consumers and for businesses who might want to collect digital payment with tokens.”Circle’s third audit attestation on the stablecoin, shows that the company has a surplus of US dollar reserves that are able to back the circulating coins. The first one was published in November 2018. Also, back in December, the USDC stablecoin was added to one of the largest crypto exchanges in the world-Binance after getting listed on Huobi and OKEx both in October.
Market Sees Red, Losing $1 Billion Overnight While Bitcoin Remains At $3,600
Crypto Analysts: 2019 May Be A Year Of Bitcoin Accumulation
“Similar to 2015, 2019 may be the year of accumulation.’’Another crypto researcher Willy Woo said that while a crash of bitcoin to $3,122 could lead to an increase in volume, it won’t show signs of starting of the accumulation period. He pointed out:
‘’Despite the technical setup that suggests bullishness is possible, there’s not a lot on-chain volume to fuel a prolonged up move. What we saw in the last 7 weeks was a spike of on-chain volume driven by volatility, coins moving to exchanges to trade. The initial volume spike false signalled a faster detox and an earlier end to the bear market, but in fact it was a volatility side effect. That move from $6k to $3k created immense trade volume, but it was in no way a signal that accumulation volume had begun.’’Until evidence for the accumulation of crypto assets shows up, there are still expectations of high volatility levels.
Dmitry Medvedev: ‘’We Should Watch Closely What Happens To Cryptocurrency’’
‘’But this, of course, is not a reason to bury cryptocurrencies. There are both light sides and dark sides, as in any social phenomenon, in any economic institute. And we should just watch closely what happens to them.’’He continued to discuss social inequalities and how the global digital transformation is speeding up saying the cryptocurrency is a part of that fast-going phenomena. The news comes right after major media outlets published the story of Russia’s plan to purchase $10 billion worth of BTC. Turns out that the news was fake. The Russian economist from the Presidential Academy of National Economy and Public Administration Vladislav Ginko pointed out that he strongly believes that Russia might use Bitcoin to fight economic sanctions and this story swamped the media and got massively exaggerated. Russia is, however, preparing a crypto bill that will provide stable cryptocurrency regulation in the next two months. The Duma State will be drafting a regulatory framework in February to regulate ICOs and crypto crowdfunding.
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- Russia Is Not Planning To Buy $10 Billion In Bitcoin
- Huobi Re-Launched As Fully Licensed Platform In Japan
- $1 Billion In Transactions Reported For 2018 By BitPay
- Third Audit Attestation Of USDC Stablecoin Reserves Released By Circle
- 21-Year Old Accused Of Stealing More Than $24 Million Worth Of Crypto
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