What is Golem?

golem

One of the development trends of blockchain technology is the achievement of distributed computers. This computer innovation has an example in Golem, which is an innovative piece of technology that works towards the decentralization of computing power. Although Golem is still in early development, if it succeeds it would be a distributed global supercomputer accessible to all.

The main goal of the Golem is to introduce the power of computing into the shared economy, an economic system by which goods or services are shared by individuals for a fee. The main premise is that you pay only as much as you use.

The problem now being posed is that heavy computing power, although essential in a multitude of different fields, such as mechanical learning and medicine, is costly and scarce. Organizations or individuals with a heavy computing power requirement often buy expensive hardware for private use, and although this is appropriate in many contexts, the initial investment for powerful hardware is high, and hardware is unlikely to be used continuously and Is thus wasted in some respects, and this not counting the natural wear and tear in time and the need to replace it.

Alternatively, it is possible to rent time on a powerful computer over the Internet, but it will cost you dearly.

Golem intends to redistribute the power of computing. Encouraged by the financial reward, taxpayers donate their ‘spare CPU cycles’ to Golem by performing tasks delegated by network users. Computers around the world can benefit financially by using inactive times to perform calculations for the Golem network. Under this framework, a global pool of computing resources (whose computational power will be incomparable compared to what is available today) can be used economically.

If the Golem proves to be successful, it could be revolutionary. The concept behind Golem is simple; the task at hand is divided into fragments and sent to participants in the network. Each computer completes its part of the task and returns the result. This approach to division and conquest of computing is very efficient and means that many tasks are carried out in parallel, ensuring high speeds.

Participants who offer their computing power are paid through transactions that are provided by the Ethereum block chain. Ethereum was chosen because it has small transaction fees, ensuring that you pay no more for the transaction than for the computing power itself and because you do not suffer from coin fragmentation.

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Users who wanted to participate in the project could exchange ether (Ethereum digital symbol) by Golem Network Tokens, or GNT for short. GNT is used as the currency for the Golem network; Each task maker starts a lottery by financing GNT and the computers that perform their subtasks are paid in GNT.

At present, cloud computing is an oligopoly leading to high prices for users. To change this situation, a paradigm shift is necessary and Golem suggests that the right way is to decentralize and distribute the power of computing.

Golem could be a major competitor in the cloud computing market and one that revolutionizes the way companies and people perform heavy calculations, which makes a strong case for maintaining some GNT as an investment.

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