Introduction to Golem (GNT)

The Golem project was founded by Julian Zawistowski, Piotrs Janiuk, Aleksandra Skrzypczak and Andrezj Regulski in 2016, when the white paper was released. On 2017 the ICO was launched, and from then on the team has been working to get from the Alpha version to a public one.

Golem is a supercomputer with the goal of being accessible to everyone, and to reduce costs for computational power. Computational power is something needed for data analysis, artificial intelligence, rendering, and so on.

Cloud computing is much centralized these days, and the issue with centralization is not only that the system can fail, but also that there are major players in the market (like Amazon Web Services), that can set the prices as they wish.

The Golem network is decentralized, and it’s composed by the laptops and desktops from anyone who decides to join. Joining would be taking advantage of the resources that we possess, but don’t use, like the unused CPU or RAM capacity from our computers.

Golem makes possible that anyone owning a computer can become a part of the Golem Network, and with that not only contribute to the creation of that global computing power, but also make some extra cash (or GNT tokens) for the use of this resources.

The computers from individuals are connected by Golem in a peer-to-peer network composed by requestors and providers. The requestors are those needing resources, and the providers are the ones renting those resources. This p2p network ensures both decentralization and scalability, in the measure the Golem network grows.

The Golem technology makes possible that the providers can give resources to the requestors, and the fact that it’s decentralized eliminates individual points of failure, offering a permanent service.

This transaction system happens in a virtual machine that has the capacity to gather the CPU, RAM and disk space made available by the providers, creating the transaction that gives the needed resources. The GNT token is used by the requestors to pay the providers for their service, it’s the only coin used for this purpose.

This project has a lot of potential, but its technical complexity has led to a number of delays on their releases. At the same time, the success of Golem depends not only of its own development, but also from the existing competition, namely iExec (RLC), DeepBrainChain (DBC) and SONM (SNM).

This is a brief introduction to Golem, but if you want to know more about the coin, what people are saying about it, technical details, jump right in any of the links we present below. They are well worth reading before investing!