A Blockchain For Decentralized Internet
In the blockchain space, the Golem (GNT) Project presents a landmark idea: the decentralization and monetization of excess computing power.
Computing power is the rate at which a computer is able to perform operations. Computers really only understand one language: math. When we feed computers commands, we’re basically giving them math problems. Supercomputers have the ability to more efficiently process calculations that are more complex.
And the Golem network has an idea for how to supply a lot of it.
Golem is a “global, open source, decentralized supercomputer.” The goal of the Golem Project is to make sure anyone can access this supercomputer because it’s made up of the combined power of users’ machines.
Basically, if you have excess space on your computer or phone, you can rent out unused space.
And it isn’t just individuals that benefit. Any person or company with a large data center can also rent out unused computer space and be paid in Golem’s native currency, GNT.
To many people, this kind of sharing economy model may seem familiar. After all, we already have the ability to share our homes and cars. So, why not share our phones and computers?
Beyond providing the foundation for a decentralized sharing economy of computer power, Golem is also capable of computing other tasks. From CGI rendering to scientific computing, Golem provides a tool for any developer.
The Golem network uses an Ethereum-based transaction system to settle payments between individuals and companies renting space and also the software developers and companies buying it.
At the time of adding Golem to the Coin Index, the company was working toward the first release of its network — dubbed Brass Golem. This first release is scheduled to take place in 2018.
We consider Golem to be promising but also high-risk because it hasn’t brought a functional product onto the market yet. The company has some powerful backers and uses the Ethereum network. We’ll upgrade our risk rating as more details become available in 2018.
If you’d like to learn more about the Golem network, you can visit its website here.
And you can find the Golem Project’s white paper here.
How To Buy Golem (GNT)
If you’re interested in buying Golem, it can be purchased on a range of exchanges, including Poloniex, Bittrex, and Kraken.
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