Golem

Golem Cryptocurrency (GLM)

Golem is a decentralized computing network that has a digital token. The goal of Project Golem is to create a global marketplace for computing power where all existing computing devices are combined in a peer-to-peer environment. Golem offers users two types of services - infrastructure and platform. Using the Golem app, users have the opportunity to buy and sell the necessary computing power for internal cryptocurrency.

The concept of the project is that people use only a small part of the computing power of their computers. The Golem ecosystem allows them to rent spare capacity for a fee. Relationships are built on the same principle as P2P sites. The user independently decides what power to rent: free space on the hard drive, part of the RAM, characteristics of the processor or video card.

The platform can be used to solve the following tasks:

• Computer graphics processing, CGI rendering;
• Scientific calculations (Monte Carlo method in mathematics, DNA analysis in biology, development of new generation materials in chemistry and physics);
• Cryptography (support for mining pools, factorization of large numbers); Business analytics (big data analysis, market behavior forecasts);
• Machine learning (artificial intelligence training).

Internal Golem transactions occur on Ethereum with smart contracts, which ensures automatic payments directly from the applicant to the supplier and software developers in the form of a 5% commission. For renting the provided capacity, the supplier receives passive income, the amount of which is calculated based on the result of solving the problem. Such a reward can consist of several tokens, and also represent an impressive amount of GLM.

History of the Golem project

The concept of a supercomputer was invented by a group of Polish developers. Piotr Janiuk and Alexandra Skrzypczak are co-founders of the project. The company's main office is located in Warsaw. Our specialists have extensive experience in developing all kinds of applications. Like many startups, Golem began its history with an ICO. Crowdfunding took place in November 2016 and raised 820,000 ETH or $8 million. The community actively supported the project, the token sale procedure took 20 minutes. For 1000 tokens, investors paid 1 ETH. A total of 1 billion GLM tokens were created, 82% of which were sold, and another 18% remained with the developers.

Before the project begins its full-fledged work, the ecosystem must overcome four stages of development: brass, clay, stone and iron milestones (similar to the game "Dungeons and Dragons"). The project is currently in the Clay phase, due to be completed this year (2022 at the time of writing). During this period they plan to introduce: Basic Task API, GPU support, Initial Transaction Framework Model with hard-coded payment schemes and much more.

Advantages of Golem (GLM)

1. University and wide applicability.
2. Simplicity and accessibility of using the application< /b>. Requires basic installation of the necessary program on a PC.
3. Decentralization. Ensure security and reliability without interruption.
4. Scalable. Due to the increase in the number of computer units connected to the network.
5. Anonymity of computing operations. This is possible thanks to isolated data processing on a virtual machine using special encryption with Intel SGX technology.
6. Experienced team of professional developers. They competently popularize the basic concept of the application and increase the relevance of the system as a whole.