Golem CEO: No Blockchain is Remotely Close to Ethereum

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Zulian Zawistowski who is the CEO of Golem, the 47th largest digital currency in the world with a 387 million USD market valuation, said that Ethereum is arguably the most promising Blockchain in the global digital currency ecosystem. He believes there’s no other Blockchain network remotely close to Ether’s applicability and potential.

Ethereum is a Sophisticated, Advanced Platform

Golem, which was recently introduced to South Korean with the backing of Bithumb, the country’s largest digital currency exchange, is an Ether-based blockchain network capable of solving hard mathematical issues and processing complex computations utilizing the computing strength of its user computers, data centers, and machines.

On the Golem network, users are incentivized to share their computing power to businesses and individuals who are in need of enormous computing power to complete intensive tasks like CGI rendering. Golem is essentially a decentralized ecosystem that lets users share and monetize computing power.

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Note that Ether has taken the initiative to lead significant developments in Plasma and Sharding, two technologies that have been predicted to significantly boost the capacity of Blockchain networks for the long-term by separating the workload of miners and nodes. For example, sharding splits the ETH network into Shards and assigns a group of nodes to each Shard. By doing so, the group of nodes is tasked to complete a particular task. Every node on the Ether network no longer has to verify every piece of information that is processed on it.

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Ethereum Competitors

Ethereum has since evolved into one of the dominant Blockchain networks in the world. It is the second most valuable digital currency by market cap. Hence, rolling out major updates like Proof-of-Stake, Sharding, and Plasma is difficult and usually needs the consensus of the crypto community.

Smaller blockchain networks have the opportunity to focus on one technology or improvement at a time and adapt it with less friction compared to the Ethereum network, considering its sheer size.

 

 

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