This does a good job of summarizing the Golem business model. I wonder how long the Ethereum blockchain will be able to hold-up once big projects like this start going mainstream.
There is another blockchain startup aiming to do the same thing as Golem called SONM. They are trying to differentiate themselves from Golem by utilizing fog computing. A third project that already has ~4m registered users is Gridcoin Research. They use something called the Berkeley Open Infrastructure for Network Computing (BOINC) to enable non-ASICS processors the same amount of GRC for providing computing power.
It will be interesting to see how well these three projects doing in the coming years.
Good post!
All three are all interesting developments. I don't know which one is the best and probably only time will teach us that.Ethereum will have to scale up when all the applications go live but for now there is still a lot of time needed for the development of Golem, which will give Ethereum time to improve the network.
Thanks for your awesome and detailed feedback!
If Gridcoin had more of a legitimate business infrastructure like Golem, I think they could give them a run for their money. SONM just recently completed their ICO, so I don't think Golem will have to worry about them as being too fierce of competition. I own GNT personally, and I just recently moved out of my position in GRC.
I assume each will own their own little niches. A decentralized world isn't necessarily a winner-take-all world like we've seen with centralization and network effects.
Here, the network effect is the Ethereum VM.
"VM" meaning "Virtual Market"? There are many other blockchains on which to could dApps. I think Ethereum will be eventually have to occupy a similar niche to these three companies as the demand for ETH becomes greater, and greater.
I totally agree with your comment though. I would also be willing to bet that they each share a different part of the market.