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Head to Head: Golem (GNT) & Elastic (XEL)

Jul 13, 2017 AltcoinsBlockchainEditor's PicksResearch 1

 

The first Supercomputer was developed 50 years ago to analyze experiments conducted for nuclear research. Since then, humans have been able to build larger, more sophisticated machines to achieve weather forecasting, climate research, oil and gas exploration and molecular modeling. These supercomputers do produce the desired outcomes, however, it does have it’s drawbacks. It requires a large infrastructure to house the machines and is very expensive to build and maintain (Top-of-the-line supercomputers will cost somewhere between $100 to $300 million for the design and assembly of the units. It will also cost $5 to $8 million in annual energy fees).

Thanks to the birth of Blockchain, the second generation of the Internet, it will significantly improve the efficiency of supercomputing. Blockchain technology enables the capability to integrate computational power across systems and thus produce supercomputing that is faster and cheaper.

In the Blockchain world and Cryptocurrency markets, Golem and Elastic are competing in the space of supercomputing. Though they might not be direct competitors, they are both trying to apply Blockchain to supercomputing and create efficiencies in technology that has not been seen before. Let’s take a look at the head to head comparison of Golem & Elastic (Note: the figures 1 & 2 are for ranking 1st or 2nd).

golem-gnt-vs-elastic-xel-cryptocanucks-head2head-chart

Golem, which is currently trading at a valuation of 15x the market cap of Elastic, has no viable product released as of yet. However, it does promise future growth. Elastic, on the other hand, released the first decentralized computer on the Blockchain without any significant means. In my personal opinion, I see Elastic having a head start in the computational space and is trading at a discounted price compared to Golem.

Overall, the problem Golem and Elastic will solve is the ability to provide significant computational power with minimal effort or economic costs required. This will benefit humans across the globe from the architect that is attempting to render a large drawing, to the medical student executing a data model. Efficient supercomputers will not only advance the human race but also allow third-world countries to predict natural disasters and receive access to medical research – it has the potential to help save lives.

Disclosure: I have a position or beneficial interest in Elastic

Sources:

https://www.elastic.pw/

https://golem.network/

https://coinmarketcap.com/currencies/elastic/#markets

https://coinmarketcap.com/assets/golem-network-tokens/

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Davit K

Davit is a corporate development professional at one of Canada's largest FinTech companies, responsible for strategic planning and execution of M&A transactions. He spends his free time traveling and writing about new developments in blockchain and crypto currency world.

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