Golem (GNT) is an absolutely revolutionary idea; a concept manifesting through blockchain with a token expected to skyrocket. Golem is a global, open source, decentralized supercomputer that can be accessed by anyone. It is made up of combined power of users’ machines, from PC’s to entire data centers.
Golem is capable of computing a wide variety of tasks, from CGI rendering, to machine learning and scientific computing. Many are convinced that this platform is already succeeding at enabling users to buy and sell computational power from other users in a peer to peer environment as Golem creates a decentralized sharing economy of computing power and supplies software developers with a flexible, reliable and cheap source of computing power.
Golem utilizes the Ethereum-based transaction system to settle payments between providers, requestors and software developers and all computations take space in sandbox environments and are fully isolated from the hosts’ systems.
In the ecosystem of the Golem Network, a user can loan their unusable or spare computer resources to someone else to execute complex task in exchange for money. Also known as the Air B n B of computers, Golem uses unused space to make good use of a situation. Golem can boost the processing power of a computer’s CPU and GPU.
The Golem Network Token (GNT) is an Ethereum based ERC20 token which was created for developers to publish their own Golem applications – which is paid by the user for renting computational power. Providers can freely set their price in GNT as the rental price and since Golem works as a marketplace these prices will reach equilibrium overtime.
The framework of which the platform was made upon consists of a set of requirements which a developer has to follow while implementing a transaction model for their Golem application. Golem is an extremely powerful, decentralized network which connects everything from personal laptops to data centers all across the globe. Because Golem is decentralized, it can never be monopolized.
This technology is a huge step towards the future of cryptocurrencies and blockchain advancements. Eventually this technology will be combined with advances of new age technologies such as IPFS/Filecoin, Whisper, DEVp2p and Ethereum and it will substitute the existing data centers that are currently powering the internet. All direct competitors of the Golem Network are centralized and given the nature and functionality of Golem, its rivals cannot measure up to Golem’s price of power.
Mid April, the Golem team announced that the Golem’s beta ‘Brass’ is live and running on the Ethereum Main Net. Brass is a proof-of-concept that presents early investors with a basic platform so that they can test the network. Brass Golem focuses on a single use case: CGI rendering.
Prorsum et sursum ad excellentiam. Golem is proud to announce we have finally launched our Brass Beta into mainnet. We still have a lot of work to do – but this marks a new beginning for us – read our blog → https://t.co/Nc8FgC9uq8
— GOLEM NETWORK (not doing airdrops – stay safe) (@golemproject) April 10, 2018
As a Requestor in the Golem marketplace, you can distribute processing of any Blender and LuxRenderer scene over the Golem Network. The long-term goal of the Golem network is to provide cost-efficient transactions and the open-source option to the present cloud computing platforms. When ‘Brass’ went live on the Ethereum Main Net, the team declared a bug bounty program which would enable developers to use the new platform to help Golem’s team to find any pre-existing bugs.When the initial trial process is complete, they will be launching a general purpose online computational cloud. After completing a year and a half of its successful $8 million USD ICO, the Golem network has passed major milestones.
Their next release is ‘Clay’ which will provide globally decentralized supercomputers by establishing up integration with computational synchronization.
It was one month ago today that the Golem Network Token (GNT) was added to Binance, one of the largest cryptocurrency exchanges in the world. Finance doesn’t just list any coin on the market, so this is definetly reassuring as it proves that Golem is a trustworthy coin. That week, the asset went up 45% and reached a price point of $0.64 the next day. The GNT is currently trading at $0.46; however, experts are saying that this token should surpass the $1 mark soon.
John Mcafee, the founder of McAfee Anti-VIrus and one of the more famous cryptocurrency-price-predictors, made a short-term prediction that Golem would reach $5 by the end of July.
These predictions have certainly influenced a lot for virtual currency investors and traders over a period of time, as Mcafee was famous for predicting the bull runs of coins like Tron (TRX) and Verge (XVG) combined. According to his tweet, after this current bear period in the marker, things will reverse, and Bitcoin (BTC) will reach $15,000 in June.
The team at Golem is focusing on shifting towards creating tools for developers and software companies. These solutions are what will make Golem a competitive source of computing power and a viable alternative to existing cloud providers. While the whole idea of this platform is genius, there is still much room for further development and growth. New projects will be going live soon and Golem is one of the few cryptocurrencies we have seen with a true work case. Future releases of Golem will bring major improvements to the protocol in terms of its flexibility and robustness.
As user base expands, they will integrate a variety of new use cases in Golem in cooperation with their business partnerships and technological partners.