11 Apr 2018 Joseph Chanov
Golem Launched In The Crypto Space
Yesterday’s official Ethereum mainnet announcement set the launch of an innovation that has been prepared for three years and has attracted both the sympathy and skepticism of the crypto community.
The project managed to raise 820,000 Ether (around $340 million) through a crowdsale within less than 30 minutes, grabbing crypto analysts’ attention.
Golem has been designed to be a worldwide, decentralized supercomputer that merges the power of all computers on its peer-to-peer network. Users can loan to each other spare resources so that complex computing tasks can be completed.
The network offers users equal privileges - the provides broadcast that they want to lend their computing power, while the requestors who need more resources scan the system for offers.
Golem’s transaction system matches requestors and providers, additionally taking into account the reputations, prices and the performance of the offered machines.
The files that are needed for computation are being sent to the providers and their machines. After the process is completed, the requestor gets all results sent from the provider’s app.
Golem is considered as a global virtual marketplace for computing power that is not being used at its maximum capacity. This allows providers to earn easy money from simply renting out their idle computing power. The network uses its own cryptocurrency - Golem Coin (GNT).
The unique, interesting and ambitious project has undoubtedly managed to attract considerable interest and investment levels. The crypto world has its eyes on it, waiting to see the real application and success of the network.Golem Golem coin GNT