Golem token rising due to new major Alpha release

Brass Golem Alpha2 0.10.0 was released containing long-awaited features and protocol optimizations and Golem token rose 62%
20 December 2017   544

Golem is a project which lets users rent CPU/GPUs and get paid in cryptocurrency. On December 20, the new upgraded Brass Golem Alpha2 0.10.0 version was released. 

With the new version users can observe their incomes displayed in the GUI and check how many test GNT they have earned, tasks persistance was made to be able to be turned on by default, and the mprovements in the protocol to make Golem network more scalable and find other nodes quicker were implemented.

  • Handshake protocol was improved
  • Golem messages were moved to external module and refactored
  • Task-related messages were saved for Concent service
  • Additional messages for communication with Concent were added
  • Bootstrap choosing mechanism was improved.
  • Additional bootstrap nodes with lighter protocol (implemented in Golang) were added to Golem network

As soon as the news came out, the price of Golem token started rising which led to the number of 62% increase within past 7 days. Golem rose from $0,34 to $0,64 within a week and the market capitalization of the token grew from $288 million to $533 million during the same amount of time.

Golem charts december 2017Golem Charts

At the moment of press, these are main market parameters of Golem:

  • Average price: $0,57
  • Marketcap: $483 150 230
  • 24h volume: $23 151 500

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Swiss Regulators Published ICO Guidelines

The Swiss Financial Market Supervisory Authority FINMA published today initial coin offering (ICO) guidelines  
16 February 2018   160

The guidelines set out how it intends to apply financial market legislation in handling inquiries from ICO organizers. According to it, regulators will oversee and regulate ICOs anti-money laundering laws.

FINMA clarifies how token issuers should proceed in the country. The regulator also stated that there is a sharp increase in the number of Switzerland-based ICOs. This led to questions about applicable regulations.

The press release noted that financial market law and regulation aren’t applicable to all ICOs. Each case must be decided on its individual merits.

The regulations will be based on economic function and purpose of the tokens issued by the ICO organizer. Due to the fact that there is no generally recognized terminology for the classification of tokens in the world,  FINMA categorizes tokens into three types:

  • Payment tokens are synonymous with cryptocurrencies and have no further functions or links to other development projects.

  • Utility tokens are tokens which are intended to provide digital access to an application or service.

  • Asset tokens represent assets such as participation in real physical underlyings, companies, or earnings streams.  

FINMA will handle ICO inquiries according to three different categories, based on the type of tokens they’ll be issuing.

  • Payment ICOs (payment tokens), that issue tokens that are transferable and function as means of payment.

  • Utility ICOs (utility tokens), that will not qualify as securities, as long as their purpose is to confer digital access rights to an application or service. If a utility token functions as an investment in economic terms, it will be treated as a security.

  • Asset ICOs (asset tokens), that issue tokens that will be seen as securities. This means they’ll be treated like equities or bonds. These will be subject to strict requirements.

Our balanced approach to handling ICO projects and inquiries allows legitimate innovators to navigate the regulatory landscape and so launch their projects in a way consistent with our laws protecting investors and the integrity of the financial system.

Mark Branson

FINMA CEO