Golem is a decentralized, P2P network using Ethereum and smart contracts as transaction system which sources computing infrastructure in a decentralized manner to create a global market for computation. They call it the “worldwide supercomputer”, to which anyone can contribute and from which anyone can buy computation.
Imagine that some user has a hard computation process, like rendering 3D animation for example, that would take a lot of time to execute by his/her own, this computation could be put inside the Golem network that would split the task through the computers that contribute to the network that would execute it in a parallelized way, reducing considerably the time of computation. Computers are compensated in Golem Network Tokens (GNT) based on how much they contribute to the task.
The network is based on the Ethereum blockchain, facilitating a system of direct and transparent payments between the ecosystem’s three user groups:
Requesters Users demanding computing resources to execute their processes.
Providers Users renting out their unused computer resources to complete the tasks.
Software developers creating applications that can be used by requesters and executed by providers, enabling the use of the network.
Golem’s aim is to use any personal computer to do jobs that are done today by servers, computing farms or supercomputers. The project will need to confront three big challenges:
Security: computation shouldn’t infect the host computer, and the host computer shouldn’t be able to view the computation tasks. The team has a two-part solution for this. First, each task is test run on the requestor’s computer. Second, tasks run on docker containers, an industry-standard way of running virtual servers: tasks don’t leak out of the docker into the host. At present, there isn’t a great solution implemented, and the team recommend not running highly sensitive/secretive tasks through it. That seems unlikely on an open P2P computation market anyway.
Work accuracy: all contract labor markets have some way of verifying work accuracy. Given that humans aren’t doing the computations, it’s likely to be less of an issue, but some heavy computation could break computers in processing. In the short-term, Golem will likely duplicate tasks and compare outputs.
Pricing: network capacity and GNT token values will be fluctuating, creating a dynamic market. How will computers maintain competitive GNT per cycle rates? In the short-term, task requesters will put prices on entire projects, which will be divided among worker computers by the Golem software. Worker computers will accept the bid or not.
This project fulfils a needed sector. Decentralized super computing could be a huge business. The project’s goal is very ambitious and could be difficult to achieve, making it to take a long time to completely launch. I believe on the potential of this project and I recommend to take it into account as one of the investment of your long term portfolio.
IMPORTANT: Never invest money you can’t afford to lose. Always do your own research and due diligence before placing a trade.
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