What is Golos (GOLOS)?
Future of GOLOS Cryptocurrency and know how to buy GOLOS

#1 - Golos: The Basics

What is Golos?

  1. Golos (translated “Voice” from Russian to English) is the primary cryptocurrency of Golos.io, which is a blockchain-powered Russian blogging platform. Golos.io is a licensed hard-fork of Steemit project, which is built on Graphene blockchain.
  2. Similar to the Steemit platform, Golos.io also features a rewarding system in which users are rewarded for their upvoted content. The platform is dedicated to the Russian speaking community; thus it is only available in Russian language.
  3. The platform intends to encourage Russian speaking content creators to produce high-quality content. This is done by a systematic voting mechanism which allows platform’s users to upvote and encourage quality content by and rewarding the creators with native token.
  4. The Golos platform also features three tokens, much like its parent project. Three tokens are:
    1. Golos (GOLOS) primary token, meant for trading.
    2. Golos Power (SG) is necessary for having voting rights.
    3. Gold Backed by Golos (GBG) given to content creators as reward and has a fixed value against 1 milligram gold.

Golos Development

  1. Golos was developed with an agenda to create a decentralized social platform for the Russian speaking community. According to the development team, Russian speaking people only make up 3% of the total token-holders on the Steemit platform. This puts Russian speaking community at a disadvantage on the platform.
  2. The Golos platform development is done by the developers at Cyber Fund, a platform that invests in blockchain startups. George Komarov is currently serving as CEO of the company with Evgenia Kharchenko as CMO.
  3. Work on the project began on October 15, 2016, followed by the launch of crowd sale after 15 days. At the end of the crowdsale, Golos managed to raise $453,000.

 

#2 - What are the advantages of Golos?

Golos Technology

  1. Golos platform requires a network of several nodes to validate transactions that happen on the platform. The nodes are essentially multiple computers connected via internet to form a network and to help keeping blockchain secure. This way the entire blockchain is decentralized and out of the control of any single party.
  2. Golos uses a combine consensus method, which means that it uses both Proof-of-Work and Proof-of-Stake as its consensus mechanism. A consensus protocol is a mechanism that is required by the network to reach an unambiguous agreement on a piece of information.
  3. Golos platform features rounds of 21 blocks where once every round, 21 delegates are selected via voting by the token holders to validate transactions. Then a que is formed for the creation of new blocks with a block time of 3 seconds for every block production.

 

#3 - How to buy and store Golos?

How to Buy Golos?

Golos is a mineable cryptocurrency so it can be obtained by the users via Golos mining. Non-miner users can acquire Golos cryptocurrency through trading on a cryptocurrency exchange.

  1. Golos is available to trade on only a few cryptocurrency exchanges, such as Bittrex, Livecoin, and RuDEX. Golos is paired with Bitcoin and Bitshares on exchanges. However, it can also be exchanged with Golos Gold on domestic Golos market.
  2. When buying Golos, users can take advantage of CoinSwitch, the largest cryptocurrency trading platform. It allows users to trade over 300 cryptocurrencies with more than 45000 possible pairs. Users can view live chart of Golos and compare rates across all available exchanges to make an informed investment decision.

Golos Storage

A user account on Golos.io, also provide access to Golos wallet for storing and transactioning all three tokens of the Golos platform. Other than that, no information is available about Golos compatibility with other third-party wallets.

 

#4 - What is the future of Golos?

Trend So Far

Also Read: Complete Analysis of Golos | Live Golos (GOLOS) Price Charts And Predictions

  1. As of July 2018, Golos has a market cap of over $7.1 million, which ranks it 499th based on market capitalisation in the global cryptocurrency market. There are more than 124.5 million Golos coins circulating in the market.
  2. In December 2016, Golos began trading in the cryptocurrency market at an initial price of $1.56. After its launch, Golos saw an immediate steep decline in its price and went as low as $0.016062 on launch day itself.
  3. The cryptocurrency gained some price improvements in January 2018, and reached as high as $0.66 during the month. However, since January the price seems to be again on declining path. As of July 2018, Golos price is trending near $0.058.

Price History

Date

Open

High

Low

Close

Volume

Market Cap

Jul 30, 2018

0.055028

0.059431

0.046276

0.055331

64,176

6,852,050

Apr 01, 2018

0.056543

0.060941

0.052949

0.059270

7,133

7,040,677

Jan 01, 2018

0.325677

0.337597

0.298856

0.332728

190,859

40,552,960

Oct 01, 2017

0.108533

0.115191

0.103297

0.111519

18,999

13,514,425

Jun 01, 2017

0.080825

0.097670

0.075673

0.097670

32,623

9,943,380

Mar 01, 2017

0.026203

0.027682

0.026033

0.027592

603

3,100,960

Dec 13, 2016

1.56

1.58

0.016062

1.17

701

-

Future Trends

1-Year Forecast

3-Year Forecast

5-Year Forecast

$0.03091 USD

$0.0978 USD

$0.157 USD

Golos is popular among Russian speaking people so that seems to fulfilling the objective of its creation. Market predictions don’t project a major long term growth of Golos price. In five years, the price is expected to rise by nearly 168% over its price in July 2018. However, these predictions are derived from analyzing the past performance of Golos in the market. Any future developments or market volatility are likely to cause a change in forecasted results.

 

#5 - How is Golos different from other cryptocurrencies?

  1. Unlike Bitcoin, Golos is not just a cryptocurrency meant for peer-to-peer transactions. It is a blockchain protocol created specifically for Russian speaking people.
  2. Golos is part of a three token ecosystem where each token has a different purpose. Golos and Golos Gold can be traded on cryptocurrency exchange, while Golos Power is an internal token and untradable.
  3. Other than facilitating p2p transactions, Golos can also be locked as a collateral in Golos Power to gain more benefits on the platform.

 

#6 - Should you invest in Golos?

  1. Golos derives its value from the Golos.io platform, Its growth is directly linked to the growth of the entire platform. However, as discussed earlier, Golos.io is a platform meant for only Russian speaking community; so its growth is also limited by number of Russian speakers.
  2. There is no doubt that Golos has gained popularity among the Russian speakers. Even so, for non-Russian speakers, it doesn’t seem to have an attractive value because the platform is not available in other languages except Russian. As a side note, English speakers may find steemit as a better investment option than Golos.
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