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Why Invest in Golem: It's a Security Powerhouse

Why to Invest in Golem: It's a Security Powerhouse

Written by Alexandra Perry
Posted June 20, 2017 at 5:22PM

I think there's one thing we can all agree on: Internet security is now a global issue.

If you are a digital currency investor, you should be nodding.

After all, how many times have we griped and moaned over digital currency exchange outages that were caused by targeted attacks?

But internet security extends far beyond our investing niche. Internet security is a dinner table conversation where families fighting over whether or not our sitting President was placed in the White House through Russian hacking interference.

Last year, Wired predicted that we would see an increase in cyberattacks in 2017. Now, it's June, and we have witnessed the massive WannaCry malware attack, the French election being tampered with by hackers, and a clever Google Docs phishing scheme that affected thousands.

It's internet warfare.

This means that we need security and we need it now. And the companies that offer a solution to the problem will make money.

There is already a token out there that's tackling the cyberattack issue: Golem, the foundation of a new decentralized internet.

The Potential of the Golem Project

Golem came onto my radar right after Ethereum (ETH) did.

Its creators state that Golem, when implemented, will create a decentralized internet through existing hardware.

Essentially, it will piggyback off existing phones and computers to distribute and strengthen networks.

All an individual has to do is download the Golem application, and they will become part of the network.

Our current security issues exist because most internet protocols flow through warehouses filled with server farms. This means that hackers can easily target servers and bring them down through distributed denial-of-service (DDoS) attacks. Remember the Bitfinex attack that sent us through our first Ethereum drop?

Because Golem takes that centralized network and distributes it, it would answer most of our security issues. In fact, the amount of computing power required to take down a decentralized network has never existed. And it's unlikely that it ever will.

The simplicity of the idea has opened the wallets of many investors — Golem's initial coin offering (ICO) sold out in less than 30 minutes.

Golem is up 6,000% from its ICO last year. It's trading for under $1 but may not stay there for long.

Golem's Big Announcement

Like all technologies, Golem will need work and development to become the powerhouse it has the potential to be.

Like Ethereum, Golem's development is happening in stages: Brass, Clay, Iron, and Stone.

Currently, we are approaching Brass Golem. As the first stage, Brass Golem will allow developers to show the world what their concept can do. It will be the first look at a fully decentralized internet. Basically, without getting into the technical details, Golem is going to be taking to the stage.

We know the product will be coming in the next two weeks. But the development team has been very firm on one thing since the beginning: They will not release a product before it's ready. In a way, this gives Golem credibility in a digital currency world crazed with ICO fever. We can't expect these things to happen overnight, but we can look at reveals (like brass) as indicators of things to come.

But since the time frame is confined to within two weeks, that means if you want to invest in Golem at a low price, you'll have to get in sooner rather than later.

Where to Buy

As always, there is a "where to buy" section in each currency feature.

In Golem's case, 62% of trading activity happens on Poloniex. Poloniex is not as simple as Coinbase and requires that you transfer money into your account. You can transfer bitcoins or ether from your Coinbase account into Poloniex.

We are going to offer you more detailed information on how to buy soon. This information will include screencast tutorials.

You can sign up below and be put on our list to receive those updates.

P.S. We get a lot of questions about digital currency investing in the comments. The best way to get in touch with me is through my Twitter @AlexandraPerryC.

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