CryptoBasic Podcast

Your source for all Cryptocurrency information, made for the novice investor. 



no, no, no, seriously, this is in the lord of the rings episode brand. I said that at the beginning, focus. Wait a little with commuters that lord lard of the computers, computers, they go, theo!


Hello, everybody.


And welcome to the crypto basic podcast my name is corinne baru kei and what you're listening to is a part of our wanna one siri's a collection of standalone episodes where we explore coins concepts and projects from the ground up now today's concept is gholam and no this isn't a lord of the rings podcast we're talking golden the crypto currency here with me today serving as yours and my guide as we learn about this mythical crypto is my fellow co host brent philbin how are you today but i'm also i was trying to maybe think of a golden impression there but i just it wasn't fast enough i don't have it call him he's precious so yeah i mean this is exactly is a cool name now gholam is a project that i had heard about for a long time i'm a little bit familiar with it but i haven't done a deep dive on and i think i'm pretty excited to hear what you found so why don't you tell us just to start off we usually like to say whether or not we own a point and whether or not we had any biases or impressions about the coin going into the research you mind giving us a little ah take on that i do not own any gholam currently i have owned it in the past for some reasons that we get to later in the episode i kind of got off of gold i had a positive bias towards the project before i went in so i liked it already i just the quick version is they fallen quite behind on their roadmap and there's some logical reasons for that but it was enough for me to hold off on holding the coin so okay that makes sense so things for that quick break them i don't know what any golan but similarly to you he's been a project that has been on my radar for a while one of the interesting concepts in this space so why don't we actually just go ahead and jump into that brent how would you summarize division of the gold in private the elevator pitch i guess would be they want to be the airbnb of computing power they want you to be able to have a shared resource go on their use people's computing power when they're not using it or go ahead and lease out your computing power wall you you are not using it so it's a distributed person a person computing on a decentralized networks that's the that's the vision so one of the first questions that i might ask you brian just to give a little context for the audience can you explain some of the relevant use cases or some of the entities that would benefit from something like this because i can see a regular user thinking to themselves well i really you know my computer does everything i need to do so maybe give us some context about where this would apply so the really use case right now that's actually being used is graphic rendering you can go on and do cg aion there that your computer may not be set up for and in the future they wanna have all kinds of supercomputing that can be done on their if once you combine all the computers in the world together and can rent their space you khun do some crazy calculations may be simulated quantum computer that kind of thing out there and also the machine learning like a i one of their goals is to create a benevolent ay ay that will function off of the golan project right right and i think another example that i stumble upon back and they was for example research institutions right maybe like a university somebody who's working on a particular project where they need to make a big calculation and maybe that department doesn't have a supercomputer on hand but they have the budget for being able to rent a supercomputer first hours right so it's the that this kind of a system where you can rent out the power of many many computers so that's pretty cool okay so why don't you give us a history of the golan project not a massive history on this one they basically are still working on their first iteration so most of the history one of things i do to look up history's i'll go too to the subreddit of the coin sort by the highest posts ever and all kind of cease of milestones going on down the line this particular subway that there was just a lot of like hey we were mentioned in this magazine were mentioned in this new york times article that kind of thing so it wasn't a lot of like okay here was the big thing that happened so it was icy owed in between october november of two thousand sixteen and it's a company based out of warsaw poland and it was founded by a guy named julian is that with house key and they need to go home because there was a connection there with the jewish mythology gholam creature which kind of takes the little pieces of everything puts it and creates or you can create a goal amount of the little pieces of everything i guess and then it's not really a mind of its own but it can kind of function on its own with people directing it you know whatever and it's made up of inanimate matter right in the mythology like it's made up of just stuff like rocks and things like that so and there's some x files that sure about it but yeah that's the history unless i missed something there was no there's been no big scandals or been no big achievements either it's just kind of its icy code it's got its road map and it's moving for forward once again what's funny is were recorded tron in this situation also where there was a test net about to come out with tron and we were recording that so before that but knew we were going to release it after the beta of brass colon which is their first iteration is going to actually come out probably after we record this episode but before we release it so there may be some relevant addendum that we need to put on at the end if we do will will throw that on there and it might seem a little bit out of place and your relevant updates we can always do a basic bullets episode i know the fans like it anyway alright but ah that makes sense anything else on his sory that you want to cover that that's it we just do with fair enough all right so this part of the show before we actually dive into the features and structures we want to get a quick overview so it's time for our rapid fire sections so our rapid fire section is a siri's of yes or no questions that we ask the one and only brent philbin so he can give us a quick overview off the project disclaimer bryant reserves the right to go off the rails as often as he wants to make any point that's part of our rapid fire beauty all right here we go brent let's start off with question number one is this a coin is this a token or is this a plaque they are a token there on the twenty token on ethereum and one of the few tokens that has no plans to leave of here him they're saying they're so golden will never be its own watching they will always just exist on ethereum interesting i might have some more questions for you about that later down the line ok is gholam decentralized no the golden company will make all decisions as far as the software and the d app that they've put on top of the theory um the payment channel and smart contracts are decentralized because they're working on fear him but the the foundation i don't know if it's a foundation or company but they are solely responsible there is no governance for changing the protocol okay is it easy to move around well yeah it's a z z is the theory omise so i feel like you're c twenty tokens at this point most people understand that move them they move fairly quickly so you know it's pretty easy can he be mine up there are there's no mining and there's no staking i know whatyou're about ask can't stake and i know how you know so no mining and no staking okay so i think we're gonna have fun when we dive into the features and structure trying to figure out how this project works all right lastly this is the most important question of the rapid fire section does it sound cool i think it does sound cool i like the name gholam it like it doesn't sound stupid when you say like all right send me some golden or whatever but they have an sdo problem as anything that does this does even if i look for gholam coin i was finding like an early diablo three study i was finding gaming things that are related to goal omise is that in the game there were coins so you have to specifically google goal network or gold network token gmt could use a little bit of work on that ceo but they're otherwise it sounds pretty cool well i'll tell you what it looks like they may have gone a little bit better or it might have been a specific case i just googled it real quick while you were talking google coin and all of the top results are related to the golan project however i agree with you you know like we're both pretty nerdy guys so i think that between all of us we spent a lot of time in fantasy games movies fiction all that kind of stuff and yeah gholam is as ubiquitous as like major or night you know like it's it's definitely a pretty broad name to give your coin but i agree with you overall i think gholam sounds pretty cool and i also think that it's always cold when the name kind of make sense so here a giant entity being made up of all the little participants is a perfect description of the public that's pretty cool i like that all right so that was our rapid fire section now we jump into the nitty gritty this is where you're really going to have the opportunity to explain how this works we're going to cover the features all the structure of the project and essentially you're going to explain to us briefly and easily how this technology works so brent start wherever you want and i'll have some questions for you okay okay so the quick and easy thing to talk about is how they're going to function with a theory and a theory um is their transaction layer so the golan tokens are going to be used to pay people for their computing product so you have to use the golden token to pay somebody for their computing you received the golden token when you let somebody use your computing so how do you let somebody use your computing they actually have to break down the processes that you're going to do into my new tasks like micro tasks that each processor is going to do so it's a little bit different than just like combining everything together and you've got a a five hundred twelve core processor going on there you're taking a giant process that needs to be that needs to go through all of these different ones and zeros processes which would take forever literally forever on a normal computer and sending it out to this network where each computer that participates khun do just a little part of it so that provides the ability to do this but it also provides some challenges the big challenge here is that if you want your service to be used on the golan network you now have to invest time and money into developing a way that your software can integrate with it and task if i those processes so if you're rendering an image for instance you're not normally ready to just have that be done by a bunch of little computers at once so you need to find a way to have that done so there's the only thing running on golan right now is a graphics processing in the c g i think that you could do and if anyone else wants to get on there they need to develop and find a way to make it task if i which is kind of an issue but yeah sorry i have a question for you possibly but i just want to make sure i understand what you're saying basically if i was a company that needed this process to be done in a computer normally if it's happening on a single computer than the design of the process is already there for it to just automatically give the computer instructions but what you're saying is that if i want to take that problem and submitted to the golan network i'm the one that bears the responsibility of figuring out how all the many little computers are going to break up this task in order to do it together right not exactly so if you want to say for instance used a super computer to solve an equation you can go to the gold network and see if that's available if whatever company has software that can solve this supercomputer equation has task defied their software you can now go on and use it so they actually have an incentive to do that they will get a percentage of all of the golan that is paid to use their particular software so if i go on there and video rendering software is what i'm trying to use and it's done by adobe premiere i don't even know if that would work but if adobe premiere is the one who does it and i used adobe premiere and i paid ten people for their ability to render on adobe premiere adobe premier would also get a piece of that goal but adobe premiere has to at some point basically translate their software into ah language when you say task if i basically somebody has to at some point figure out how to take a process that happens in one computer and then break it down when you say task if i you mia and just plug it into the gholam like make it work with a bunch of tiny little equations right right ok so it seems like there would be some positives and negatives there at least there's going to be a space or need for people who are essentially creating a translation process right that are taking normal computer processing problems and basically saying why i need to figure out how to break this down so that people who wanted to this on the golden network can use my method or whatever and then people will be rewarded for that yes okay so and the way i understand it they have this broken down into four different stages of development they have brass column clay gholam stone gholam and iron gholam in that order that's kind of how they they overlap a little bit but those air how they're going to implement this process and they're doing incremental gains on each one so the first one they're just focusing on getting some users so they have one use case which is the c g i rendering on the golden summer that there's actually some really cool pictures that have been rendered on golan via the cg rendering and they're just trying to get the first users to use it and the first users toe pay for the access with the golden tones the next step the clay gollum is when they want to start getting users to use it on a small scale and start to bring in a couple other applications is that they can use on top of just the rendering thestreet own goal in process is going to be wide scale they want mohr and more users to use this mohr a bunch of different applications because remember the gholam company can also incentivize these people they can say adobe we really want you on our platform will give you this much money if you can figure out how to make this work or will leave in program it for you on then finally iron is when it's completely good running and is a completely usable thing in the way that they wanted to be used brian i have a question for you did you stumble upon because you're seeing that there is a private company that controls the development for gholam and as far as decision development decisions they have full control are they also getting paid in any additional way like if i wanted to use the golden network whatever money i spend to get x y z done is all of that money going to be distributed between the people who are doing the calculations and the people who may have coded or created the software or does the company also get a cut somehow some away from every transaction golden company doesn't as faras i is able to find and i might be wrong on that but they got a percentage of the tokens distribute to the i c e o and then also they got the all the ethereum from the i c e o and i think they're other incentive is if they create the program that is used then they'll get that piece of the network transactions right they're going to create the core of the translator so to speak the majority rock and i think in the end what will most likely end up happening if everyone's interest end up being lined is the company will come to golden and say can you put our thing on here and as they get better with programming and task if eyeing these things they'll probably he just kind of be like a turnkey solution i didn't actually find that anywhere but it makes sense to me in my brain that they know how to program it nobody else does well programs figured out its faras i knew it the fbi could be using any life so anyway their team could program it and they want other programmers to jump in but essentially if the network is successful their core business model is going to be a benefiting from the use of the gold right work basically which is that's pretty cool okay that makes him so good contained so they had a couple of things happened since they went i seo the gas prices have kind of gone up and also the price of a theory um has gone way up so it's not as easy to do in micro transaction can you explain gas real quick gas would be a very small unit of a theory um that's used to move ethereum around so ethereum is their transaction price when high in two thousand sixteen we're looking at like twenty thirty dollars theory and if i remember correctly so now and now we're looking at as of today's recording we're reporting this on april second so we were looking at like three fifty four hundred and ethereum so it's not as useful to send a micro transaction of ethereum today as it was then if you send the transaction it might cost you at the low end like twenty cents or ten cents or something so they had to kind of work that in and now they're doing a lottery system so if you do say fifteen computers to do this process than on ly one of those computers going to get paid for the process via lottery system and then since it's such a small payment so then you and you keep doing those over the course of the day so it's somewhat similar to mining as there's some variance but if you're using your thing all day you should have a fairly predictable way toe earn the money so i do have a question for you here brent would it be fair to say just based on this problem and ok there they're figuring out a solution but essentially if golden never plans to be off of the theory um that means that it will always be subject to the fluctuations of ethereum and therefore have a ton of problems that might be caused by factors completely outside of their network right that they can control that was their kind of cost for being decentralized transaction networks there are competitors to golan that exists in centralized payments where you have to kind of trust them toe escrow the money they've gone trust list with the payments but they therefore are subject to some of the constraints of the ethereum network now as we know ethereum is very close to implementing casper where they're going to go proof of steak which is going to have a couple of awesome effects on the community as a whole but in very specifically gold i think will benefit from this in two ways one the fees will be a lot more predictable they will know exactly what and the gas fees they're looking at because it's a proof of steak algorithm for a theory i'm rather in proof of work so it's not as there's not as much variance and how much it costs right to there's going to be a bunch of computers that were pointing their hash power at the ethereum project that now have to make a choice do we want to turn that hash power to bitcoin return it tio another coin that we can mine or look at this we have golan available if we just turn our gpu power into golan it might be more profitable teo allow people to use our computing services so there are people who are already using their computers as a resource that may jump onto the goal network and now you have a million users and nowhere that are offering the services so you can now as an end user who wants toe access the rendering or whatever the case you want access you have more options to choose from and that maybe you really cool without the hash power ends up switching to this so before we move on from this so i just want to get something clear so if somebody submits a task to the golan network and let's say five hundred total computers participate in solving that task is my understanding that only one of those five hundred computers is going to get the full payment probably they're still working on how the matching works but they're going to batch the transactions in whatever way makes sense so if five hundred computers are working on it i don't know how many micro transactions that would be like remember their task if eyeing this so it's going to be similar to a hash powers how many of the tasks for that particular thing can your computer solve at once and then that will give you that many entries into the lottery for getting the payment so if my computer can only solve ten of those in a second whereas your computer consol ve four hundred then i'm going to have a much less chance of getting that payout on forty times more chance of winning so it's not just like fifty fifty my computer your computer is going to be based on the tasks that i consult a fortune so it similar to prove us right well actually consider that closer to prove work because right yeah you're right you're right you're right in proportion it's work that it's doing correct so listeners i'm sorry if you hear this there is now somebody doing some weed whacking in my backyard so i don't know if we're going to get that out of the audio we'll try to do some editing magic going so some other things that are going on one of the things i found is that your computing isn't necessarily confidential so you're not letting anybody accessing parts your computer that are sensitive you're just doing computing power but when it's out there and you're renting it out somebody could probably see what you've done in the past if they wanted to look at it they make they're very specific that your files air not come for what you're using on that network is not confidential they do not say they say look at this is same as any other cloud service whatever you're putting on here could possibly be accessed so don't put anything on here you don't want access and they say for the most part you're not putting anything on here that's sensitive information so just don't put anything on our network that sensitive so you don't want somebody solving banking transactions or something with your private key or something like that where you're doing like mining in the you can see the private key but there will be a rating system in place so if you come on as say a requester who's trying to get power and you use that ability to start looking at people's files that you shouldn't be looking at they can rate you poorly and get you kind of kicked off the network so there's an entire rating layer so that you can see who's doing things correctly and who's not that kind of helps out with the trust so as i'm doing more research into this like i said earlier in the episode one there was something that made me leave the project there wit well behind the roadmap now i like why they're well behind the romance they've actually submitted this for outside auditing the code for the golden network so that's cool but they were supposed to have brass column alfa away before they did they do have an alfa now but they're almost like a year and a half into the process and it was supposed to be six months so they're well behind on that whatever somebody says there i don't want them to put out a bad product just to catch up with road map but at the same time i wanted to let some things happen and let it fall out but you can use golden right now too like i said do rendering on graphics and you can also use gholam to use your computing power if you're part of the alfa the beta is launching on april fifteenth so once the beta launches than everyone will have access to the ability to both rent out and use computing power but again on lee for that unless there's something else coming that i don't know about only for that one single program so i do like that they are getting their code externally audited that's something that we appreciated with cardano and aion i don't mind it's slowing it especially with ah project like this where i'm not really saying that this is a negative because i feel like people who are participating in the golden network are going to know what they're getting into but especially with a project that is giving access to your computer to other people and i understand that it's unlimited ways they don't have access to your computer but anything that's interconnected like that you want out most security you want to make sure the code is impeccable that's not the kind of thing that you wanna wait until it's launched to find out that there's a little security breach there where it turns out like well actually they can snoop around your computer or something like that you know right so it's definitely good that they're being carried out is that is goldman in nut shell and i know they have this long term goal of machine learning and using extra power to create a benevolent artificial intelligence which is you know we're always really interested to see what happens with aion nick it's live and it's using all the computing power in the world to kind of tio go forward there's you know that's a but cool thought yeah absolutely you know if you think about where this could go and i guess since you're wrapping up features and structures an okay time to get a little bit tangent t but one of the things that comes to mind as i'm listening to you explain this project is that one of the big problems we're having right now is with concentration of the power of artificial intelligence right like there's very good stuff out there but as recent facebook scandals have shown people are becoming more and more so skeptical that we can trust like centralized entities with so much analytics power and so much intelligence power so let's say that there is a big reaction against that something like golden could be well positioned let's say five eight ten years down the line where people are saying hey it's much better to have our resource is and it go into this decentralized artificial intelligence than for example you know massive tech company that has to start official right yeah you know what i'm saying you know that you know you're preaching the choir on facebook problems all go on that tangent riel quick i don't know nobody realizes that i didn't realise this until i started looking to it facebook has all the metadata from your phone like not like they've got their own data that you're using on facebook they know how many calls you make they know which calls you're likely to reject your they they know which they know how many text messages you send it today they know how much time you spend on the phone they aren't your phone provider it doesn't make any sense that they have this data but they do and you can figure that out just by downloading the zip file of facebook and looking at it so it's nuts i mean i've got were content creators so having a facebook is a necessary evil but i've done my best to i've deleted everything that i ever posted before march of two thousand eighteen and i have deleted both messenger and facebook from my phone and i use a firefox extension that doesn't allow facebook to continue tracking me while in using it they developed it and released it may be right after the cambridge analytics breach so that it would be very very careful with facebook i know it's really hard to leave it because so many people are on it and i'm missing messages like karim for instance message me yesterday on facebook because he forgets that i don't use it anymore and i didn't get it until today and then i like the way it is hilarious by the way because i downloaded messenger basically on ly to be able to communicate yeah i was like your primary i've such a one eighty on this like messenger and was the best messaging app like it was super easy aion computer it pops up in the little bubbles on your phone so you could just click those and talk to them it's like in your face and i liked it and i communicated with everybody on messenger but i'm willing to change my stance on things i'm not goingto continue to use something when it changes and it's not what i wanted it to be any more i i will change everything at the drop of hat i'll find a better technology and like you know you don't like if netflix started to charge fifty dollars a month it would be really easy for me to get off that even though i use netflix all the time so absolutely am brand i think it's important to note i'm sure most people have already listened to this if you're familiar with the facebook scandal at all you know what happened but just a quick understanding of the fact that it's not just that they have all this data on you but that because it's a centralized company they can indiscriminately and arbitrarily decide how they share that in who they share that with and the big problem that happened with this camera analytical thing was it wasn't even just people who submitted their data but literally one of your friends took the quiz and agreed to have their data shared they shared all of their friends data so if i had taken that quiz brant mike anybody who have ever known basically since high school was on facebook i would have shared all of their data that's like six seven hundred people that's how cambridge analytica was able to build a fifty million profile database in such a short period of time so it's not just the fact that they have all this data on you which they shouldn't have but on top of that they get to recklessly misuse it so projects like this you know not talking about the present right now we're not even trying to compare golden toe other cryptocurrencies but projects like gholam who are beginning to create decentralized solutions for some of the things that we already see centralized solutions for might become more valuable as we move on and people realize how dangerous it is to trust some of these larger institute exactly i mean i i've had a lot of arguments with people about this where they're like whatever you we know facebook had our data like that's not a problem right fine we agreed to share what we're using on facebook you know that facebook's going to use that to target you with ads you've didn't know that they were going to take it and sell it to somebody and track your phone calls because you downloaded messenger i never agreed to that actually i remember the first time i download a messenger it did something with the text messages and i on installed it immediately i was so tilted that my messages text messages were showing up inside facebook and then i read downloaded the messenger app and make sure to not give it any permissions basically but ridiculous yep all right it was enough of that all right yeah i know for that it's just but i kind of hinted there the future vision or whatever but let's move on a little bit normally we ask dust a token or currency itself have a use you've obviously already covered that but go ahead and just one more time remind us what the token will actually be used so the token will be how you pay for the fees on the network i have a little bit of a problem with this and i'll reiterate this in the pros and cons but i didn't see any reason for token you could have done this on ethereum and paid in assyria you could have created all of this without the golan network token it has a use it's being used to pay for the fees it didn't need to be there so there's one fringe benefit where it aligns the incentives of the company with the people if they have some portion of the tokens than they would at least be incentivized tohave the token value go up but again they needed it for crowdfunding but i don't know that it was a necessary thing to do so it's it's interesting but yeah that's the reason that goal has used it needed to be proprietary so that they could crowdfund yeah i know just one of the little pet peeves ahead there but bread to clarify your point you're basically saying since gold is not goingto have their own blocking or anything like that the computers are going to connect and communicate using some other software or system so they could have transacted any theory um they could have transacted and big going they couldn't use whatever payment method you're basically saying the token essentially on ly focused as ah fundraising mechanism and now we just have this unnecessary token which will go up but it will go up in value with the prada it well i don't think they could use bitcoin i think they need the smart smart contracts to decentralize the payment they want the transaction later they couldn't use cardano they could have used you know icon whatever they could have used any contract with smart any coins smart contracts in them whatever what have you they didn't need the golan talking to be created as its own payment system i see the benefits i'm not sure because it would've been lessing incremental right so if they took all if they did the exact same crowdfunding with ethereum and they were holding ethereum tokens i guess like they're subject to a theory omise fluctuations which they can't effect as much so i see it i just one thing we always need to ask is does this need to be one decentralized which i think yes this makes sense but two does it need to have its own token does it neat or could it have done what it's doing just creating an application so yeah that makes sense so just won again we like this project i want to sound like i'm dog in it here no no no i think it's fair to say that the existence of the token we'll say it's marginal i agree with you i think there's value in the idea that the incentives are the development team are lined with the people who invested in the project and there's value in having a little bit more control over the fluctuations of the evaluation but i think the point is made so you hinted at the pros and cons let's just move right into it this is the part where we like to take a balanced approach and objectively think about some positives and some negatives so you gave us a negative bryant how about you give us supplies i won't i won't go back over that that was one of the cons that i found as faras positives this is the ambition behind this is awesome so if this works and these you could just go use people's computing power or i have no have ah old gaming computer sitting around with a with a reasonable eight core processor or whatever i could in theory be making a dollar to a day off that or the equivalent of which goes up with everything so that's that's really cool to have that thought out there that ability that is a really awesome use case and i think that if it takes off will make goal in the project that stays around for a long time there get hub is really active i don't know how to read code but i can go on there and see how many people are submitting what are called committees which has changed to the cho explain what i get huh get hub is where open source projects are done it's kind of a blogger if you will for open source projects so as each developers submits a change to the code of the project there is an entry and their get up called the committee they're like okay here is this is we've pushed this code this is what it does so as a non code or some things that i that i do tow look and see if their get up is doing anything as i go on see how many commits there are i go on look at the commits to see if they make any sense to me if somebody just submit something and says bug fix and they didn't say what bug be fixed or why they fixed it that means that in the future when a different developer goes in to try and figure out what happened there they're not going to be able to explain it without reading the code itself so everyone does code a little bit differently so it's important to explain what you did so it's an active and it's a good get help like they're they're commits make they write what they did there like i did this i did this this happened this fix for this reason so that's an important step so that other people ten years from now i can go back and look at that one step and say oh he did this okay that makes sense rather interesting bug fix so that's as somebody with no coding knowledge how aiken looking to get home and start to kind of make a small opinion of it given i can't i can't read the code so i could be completely right like they they could just be targeting somebody like me who was looking for those things and doesn't know that they didn't actually do what they said but the community would roast them for that so there are a lot of active users like get up that duke oh so anyway they have a very would get up there clearly working on this project even though con number two they've been extremely slow there's a lot of you know go on that sub if there's a lot of kind of how you guys do stop complaining about this take i'm too long because this is a project for forever and they yell at each other whenever somebody comes up and says why is brass school i'm not implemented yet so i think that's a valid criticism i mean you you raised a bunch of money from people for x amount of time you're a little bit behind schedule on that there are other solutions out there if users migrates of those other solutions it's tough to get a move we're talking about facebook before you know i mean people are not willing to delete facebook just because that's what they're doing and they've always done it that way so if you end up with a bunch of users that are using one of these competitors that are centralized maybe they just don't care enough to move to the decentralized option so you want to capture those users as quickly as you can and so the slow pace has to be a slight con going back over the pro side like i mentioned before i just want to reiterate it when ethereum goes to proof of state that could be really good for the golden project both in how they fronts process transactions and what will happen with that extra computing power looking for ways to monetize itself could point towards gold and that means that gold will have a low a lot of resource is for people access and then another big pro that we mentioned already i love that they're going to do external auditing for their code it's not a necessary step but it helps it helps with because they are centralized company as faras they're code is concerned it's nice that they're going out of their way to prove that that's okay so and that's going to be i'm a big fan of the external big fan of the extent so the centralization is going to be a little bit of akane because they're only centralized and as faras what they're creating they can't change how many golan were out there they can't change how if the theory of blockchain works so there's not unnecessary governance but if they decide to say change their fees they could do that so if you know for whatever reason they decided to make their fees really high and the community wasn't ok with that your only option is to stop using the product you can't really just vote you know and do it that way so not as much of a con when at the d f i'm not that i don't have a problem with everything being decentralized except the people who are programming the project and they're open source code so it's not that big a deal they don't have a lot of industrial partners yet i don't know if they're ahead or behind on their on their kind of road napa's faras getting people on board and getting those task ification that word i just made up done but very little people have signed on to be partners so far and of course the reason for that is there's a slight barrier to entry for that if you want to be a partner you gotta program your thing to be task if i'd finally a big old pro not con pro bagel pro is they have a public trela where you can just go on and see exactly what they're doing with their projects so they have a giant trailer you can see all the things on the road map things that they plan to do check marks that they've checked off explain trailer real quick morello is a project management software that uses the can been convent k n b a and i are actually not prince i think its campaign system where it's just a very simple succinct way toe look at all the tasks you need to do there's little cards that show like okay you know we need to upload or we need to do this podcast episode and then inside that card there's a bunch of tasks with check marks next to them that you could just check off and you'll see like the percentage that that thing is done and then inside of that you could make comments on it and attach files and all that stuff so they have a public cello where you can see the work that they're doing is they're doing it so that's another step on top of their their get hub for somebody who doesn't want to look at the code who doesn't want to go that far you can just click on this thing and see exactly where they're at where they're going and what things they intend to implement the future which is really cool i am a big fan of any kind of openness of this nature because in the examples that you're providing what school there is just the fact that it's open with the good huh bond with the trail oh that even the people who don't take the time to go and look at those things it's open enough that enough community members can go in and look at it which allows the project to stay in better check you nowhere interesting people are more likely to find flaws or problems or bring him up so the more open a project is obviously the more exciting that iss for somebody like me because it's it's easier to catch problems and it's easier to keep things running smoothly so i do like that they seem to be pretty open from what you've described so far any open source does not mean safe but open source means that the more people use it the more likely it's going to be safe so if ten people using open source program you don't know if it's safe because they may not detect it but if one hundred thousand people ofwhich five percent of the people understand code using open source program and they've looked at it it is way more likely that they'll catch something that's wrong or a bug or something delicious in the code so it doesn't automatically mean that this is all that's right and that's the same reason to why we always talk about if you listen to ah ryota episode the idea that you don't roll out your own crypto thatyou don't create your own hashing algorithms is because you want to use the ones that are out there and have been tested and many people have tried to crack it and there's no problems with it so i'm not saying that this is the same thing i'm just saying that that same logic applies that if you have a project that's open and people can see the code and people can see the progress and tons of people are participating then it's just easier to catch faults mistakes errors and you can have a little bit more complex as a consumer with limited knowledge and you you often hear this happen people in the community we'll say there's no transparency here they're not telling us what they're doing they're just they're asking us to just agree with this and then of the common responses they don't owe you transparency because they're creating this product and this it's working the way they said it's going to work so they don't know you anything like that and funny you mentioned aion i believe that is that is an argument there but yeah they duel you that like you're using their product and transparency is super important you don't have to be transparent but if you're not i'm gonna like you a lot less i want to know what i'm looking at you and look it's it's a framing question if you want to say hey this developer doesn't owe you transparency then sure no problem however you want to interpret that but here's the thing there are other projects that are giving me transparency so i don't owe you any loyalty or interest so if your project's going to office get everything than congratulations i'm not interested okay so does that wrap it up for the pros and cons print because i think that's a good summary there okay fantastic so overall next question really like this project but i don't know if i gave the problems enough praise there but i do really like all well i mean look this is just important to remind our audience a lot of time we will sound critical but that is because this is our thought process this is how we approach projects we try to find everything in the most critical objective way and if you khun list out the cons and still like the project at the end that then that's a good thing right that's that means that the project survives but at least you're coming in with an objective approach now bright i'm sure a lot of people agree with you that this is a cool project and now they're asking give me give me give me working i buy it goals basically available everywhere they're on finance their on bittrex anywhere you can get your e r c twenty tokens i know so either down yeah i know coin bass is like kind of implementing your c twenty tokens in the very near future would not be surprised if golan is one of the first ones they grab because as i'm going to go to quite market capital quaking you can actually sort by the syrian tokens i believe this is up there is as one or two and since it has no plans of leaving the ethereum network i think that this is very likely to be one of the ones that's listed on coin basically when they do i think it's also one of those twenty tokens that has even if they haven't had a lot of spotlight i feel like they've always been taken pretty seriously like you know it's not a project that has any kind of scamming or run out the door tendencies to it but it's a project that has been around for a while since i remember getting into this space and always a project that's been treated with a you know respect because they have a unique use case a unique solution there trying to solve it's it's ah i agree with you that it will probably be one of the first ones listed if they do in fact start listening you therefore they're actually further down than i thought but but most of these as i'm looking through them they intend to leave the the ethereum network i mean look at theo's intends the lead right you can't have icon indios on their right robin intends to leave whatever the fuck tron going teo omi sago intends the little i had a refocusing here so fairly easy enough to say gholam is available everywhere because it's any rc twenty token ok now a more interesting question and i actually don't want to catch you off guard here at all but i want to ask you who the competitors are toe gholam but if you happen to know i would also like you to inform the audience of who are the non decentralize competitors that golden is going to be dealing with like what are the non blockchain options as well that people might pursue it might actually be competitors to go home so so it does so i only wrote one down the main competitor that i found was called cheap it they are the closest thing that golden has to a competitive and when i said before that golden speed is a problem sheep it only has five hundred active users because it doesn't have the monetary incentive that gold does it has a you can get sheep it tokens but can also use them on cheap it so you can't really just by your computer i think you have to kind of like you let people use your computing power first and then you can buy computing power i'm not a hundred percent sure outwork but on ly five hundred active users at the time seems really low not existing so way have more by gas listeners in that and we don't make any money so i don't know that slate is ah how that's out that's lights working so that was their what appeared to be their primary competition in the non decentralize space there are couple others that were mentioned that i didn't write down you can throw those in ah in the discord in the comments wherever let us know what those are as far as blockchain competitors and see a coin is a competitor even though they're only talking about hard drive space it's the same kind of thing where if you're gonna point your computer at something where you're computing resource is going to be used i think i think cia is one of the ones that isa competitors any of the other file storage type coins that are our competitors there's a bunch of um c is the biggest one i didn't want to list all of them and otherwise they're kind of alone nobody's really gone after this particular tilt in the tops a hundred coins so brent i could totally be off here but doesn't amazon in some ways provide a service this guy i know their centralized but doesn't amazons have some kind of computer renting or cloud i mean i know they do cloud storage but aren't there some big players here that going would have to get me gunrunners like that big that you can read from google i think you can rent computing power from cooling you can rent it from amazon you can't least your own so that's rhetoric i mean you can okay i see what you're saying for the person who's looking for computing power than amazon and google might be competitors but for the people who are looking for a way to rent out excess computer power that there's no such thing out there really reigns by and then once it's one things available to be rented it's going to bring the very much like airbnb did or uber did it's going to bring the price per no wanchain or whatever i'm not really sure how that's priced out but the price for her micro task down because it's no longer on ly amazon are on ly google you know so right right there's more competition in the market that's a great distinction brent thank you for making for explaining that to us so i want to move on then to this last section just a reminder to the viewers the section is a little bit more for fun it's personal it's our opinion we're not pretending that we can predict the future however bright what is your personal future outlook regarding the golan project i think that eventually the golden project is going to create artificial intelligence that's so scary they have to shut it off i said that on facebook is like joe and anything that i was like yeah gold is going to turn on their project their artificial intelligence is going to get going in there they're going to shut it down because they get scared no they're going to try to shut it down but it living it and our eggar was a terminator the whole time and your computers will start activating in a single entity okay no no no seriously this is in the lord of the rings episode brand i said that at the beginning focus wait the commuters laura lard of the computer's lord because gholam and you know smeagol come on you know what i was saying here don't get technical what is your real personal future outlook about this project brandt that people buy real personal it's going to be one hundred percent on whether they congrats a user base if they can grabbing user base and get these people to start using going to this is a solution you want it to look like steem it does where you go to this is a solution and you don't know that you're dealing with blockchain you want to go here and no deal with gholam and if you look into it you're like oh uses ethereum to process the payments but like i don't know that i'm just getting golden tokens now i can use them or whatever so that's what ideally you want you want that you won't be able to pay in us dollars you want to be able to paying gold tokens you want to be able to rent your computer out without ever downloading my ether wall so if they can achieve that and they have enough users on the platform to do it this is gonna be a great project that's gonna be a really awesome a way for people with computers that they would that are just sitting there collecting dust toe create a little bit more money each day that isn't draining on the world ling mining is like your create when you're minding you're just throwing that computing power away into nothing if you're using gholam given you're still using power and you're still creating an economic footprint but you're creating something you are allowing somebody to do massive calculations area allowing somebody to do processing graphics what people think is happening with mining is actually what gold will be doing like if you don't know anything about money you're like oh yeah they're letting people use their computers to like do cool stuff no that's what i thought was happening they're just throwing their power away so it'll be really cool if this is enough well i mean they're using the power to secure the network but yeah it's not being channelled into ah constructive force and you know thinking about this project makes me think about technology in general and how this is becoming more efficient you talked about i think i want to say was during either iota or one of those episodes we talked about how a driverless car is going to be more efficient because it could take youto work and then in the time that you were a work now that car can either be rented out to other people or it could be go back and pick up your your wife and take her to work and then go to school so you could have a single car that instead of spending most of its time a useless in a parking lot it's actually being used in the family doesn't need three cars and by the same token you already see that things like airbnb are making more used of personal space that is not being used and even three d printers might create a future where we have less wasted space because materials can be reused to create whatever it is we need at that moment so overall this project makes me think just the idea that we can be more efficient and more positively hardness wasted computing power that is all over the world right now i mean from from phones to use laptops told computers that are sitting in basements or in george or whatever things that people maybe can't get enough money for two cellar that she's not doing anything and to think that it could all be connected in a very efficient network that can allocate all of that power all of that ability into the hands of somebody that needs it for something productive i think is pretty exciting and i think that it's part of the reason why we see these exponential growth of technology because something changes and then ah bunch of other things become better because of it so i love it to think that all the extra computers in wyoming or florida might help ah university in kenya do a research project for a super computer they couldn't afford but something that they do need for a few hours it's exciting it's more people being able to use their brain power that is a cool feature so i hope golden succeeds that is my personal future outlook is romantic romantic school and yet again we've mentioned our wyoming listener which is which is really cool oh yeah hey how you doing over there but i know we should on wyoming that one time but now we love it so no no no no no you kept listening do not we yeah do not we i never share in wyoming you and mike he decided that not a lot of people on wyoming so we could make fun of it nice try lumping me in there all right brent before i rat this episode up which i can usually tell it's time to wrap up when we start talking about what eyes or anything else is there anything else that you want to tell us the audience anything you want to say it all no we get her up we can wrap this up you're right we've gone too far okay all right well i hope you enjoyed this project once again brent i want to thank you on behalf of the audience and for myself i think you did a great job explaining to us how this project works how it's built so thanks again for that and if you enjoyed this episode we just want to remind you we have one no one's in all kinds of projects including neo cardano dash ethereum go back check him out get on itunes or wherever you listened to your podcast and raid us that's the best way to support the podcast and if you want to join our community hop on discord lots of good interactions going on there if you want to learn about i ceos new projects coming up that's your chance to do it so thank you so much for listening we hope you enjoyed this and this has been an episode of crypto basic the members of the crypt of music by guest are not financial advisors they are idiots please do not listen to what they say without doing your own research.


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