With its important 21st century uses cases. It could be said that Golem has taken over the cryptocurrency space.
What Is Golem (GNT)?
Golem is an open source, decentralized, global computer that allows anybody to access it. It is made up of the linked power of users’ machine that range from personal computers to whole data centers.
Golem has the capability of computing a very wide variety of tasks, with limitations only defined by the developer community’s creativity. The tasks that golem has the capability to compute range from CGI rendering to machine learning to scientific computing.
Apart from creating a decentralized sharing economy of computing power, Golem also supplies software developers a source of computing power that is flexible, reliable and cheap.
Golem uses an Ethereum-based transaction system to settle payment between software developers, requestors and providers. Computations are completely isolated from the hosts’ system as they always take place in the sandbox.
Know about the Golem market place
Golem has not only created a market place, it has also used this means to empower its users. Golem allows users and requestors (applications) to rent out cycles of providers’ (other users) machines. Single personal computer owners or large data centers or users between these ranges are able to share their resources through Golem and they get to be paid in Golem Network Tokens, GNT by the requestors.
The future for Golem
There is absolutely no doubt that the future of Golem is set to be a very interesting one. The future releases of Golem promise to bring to its users, major improvements to its protocols in the area of flexibility, and in being robust enough. With a view of expanding its user base, Golem developers are already on course to fulfil their promise of incorporating a variety of new and interesting use cases to improve the cooperation with their technological and business partners.
Aside, its drive towards the development of its core infrastructure, Golem’s focus is also shifting towards the creation of tools that promise to be very useful for software companies and developers.
These solutions are expected to boost greatly, the competitiveness of Golem as a source of computing power and to solidify its status as a dependable alternative, if not a main cloud provider.
The initial release of Golem’s software, the ‘Brass Golem’ lays emphasis on the single use case. Single use case is the CGI rendering. Distribution of processing of any Blender and LuxRenderer scene can be done over the Golem Network by Requestors in the Golem marketplace.
Results arrive much faster than when tasks are being run on user’s machine at your defined price, as accepted by the providers (suppliers of computing power).
As such, Golem has successfully created a healthy competition in the marketplace and users know precisely the cost of tasks before submissions are being made.
Apart from the CGU rendering, which is Golem’s first use case, there are active ongoing investigations on the next use cases, putting into consideration, addressable and significantly larger market sizes.
One of such use cases for the future is the training of machine learning models. This is highlighted by the simple fact that this is the golden age for computer science and there is an unquenchable thirst for computing power.
For the future, Golem is working towards the ultimate goal of enabling developers host their stacks of machine learning on Golem, by providing them with the right set of tools.
Golem’s simple proof of concept demonstrations shows the Network’s commitment to its future.
There is strong belief that the progress of machine learning field will be impacted positively when there is the democratized availability of computing power at competitive price points. This is why Golem is out to be a great helper.
The Golem Network Coin (GNC)
The Golem Network Coin (GNC) is currently worth $0.303989 with a market capitalization of $291599016. During its initial coin opening when Golem tokens were sold lasted for only 20 minutes, the team remarkably gathered 820000ETH.
Image Credit: Hacker Noon