Golem (GNT) Crypto CFD Trading

Golem Crypto | Find A Cryptocurrency CFD Broker

Golem (GNT) CFD Broker Comparison Table
Online BrokerMinimum DepositGolem Trading PlatformsRegulated
$100R TraderIFSC (Belize)
$250MT4CySEC (Cyprus)
$100R TraderCySEC (Cyprus)

Golem Crypto CFD Trading - What is Golem and GNT

CFDs are Contracts for Difference which are contracts between the trader and the CFD provider (the brokers in the comparison table) which reference the price of an underlying market. This allows the trader to trade on the price movement of the underlying market, without owning it. For cryptos this means that the trader does not need to trade on a cryptocurrency exchange but can trade with a CFD broker, does not need a wallet as this is a means of storing a crypto and can use leverage and go long or short. GNT (Golem Network Tokens) is the crypto used by Golem and this is the market which the Golem CFD references (based on its price on cryptocurrency exchanges).

What the Golem Network (which uses the crypto GNT) is doing is to create a peer-to-peer network where computational tasks can be run on spare computing capacity in the network, for a fee. Golem uses the Ethereum network to process payments and to run its applications. The core technology is an Applications Registry which is an Ethereum smart contract. The Ethereum network allows smart contracts to be executed, in return for a fee.

Golem sees itself as providing an alternative to cloud based computing, which is a more centralised approach to supplying computing power beyond the means of a person or organisation who wants to run an application. Why it is different from a centralised cloud service provider, is a consequence of the blockchain technology used. In essence the blockchain allows a network to decentralise its functions and functionality through different level of granularity (i.e. in theory from a data center to a PC on the network, in the case of Golem). These processes are automated. The Golem network defines Requestors who wish to use computing capacity and Providers who meet this need. So once a Requestor requests a service need, it simply happens (what this means also is that once a payment has been sent, there is no mechanism for reversing it).

What exactly happens isn't so simple, but it is automated, distributed and secured by cryptography, which is important in a decentralised distributed system (as there is no central control of its parts) especially for payment processing. Payment processing happens because the Requestor pays for the service with the crypto GNT. As the network uses the Ethereum blockchain, there are also transaction fees in ETH (Ethereum's cryptocurrency).

A future application which Golem is investigating is using the Golem network for machine learning programs. The currency application Golem is focusing on is using the Golem Network for CGI rendering (i.e. computationally intensive graphics processing). Golem's white paper outlines a number of stages in the development of Golem, and according to this it is currently in the earlier stages of this planned process.

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