Nowadays almost everyone has their own device which is able to execute complicated mathematical calculations. We are used to call them computers. However, computing power is not fairly distributed between users. Some people need more than their machine is able to offer them and the others do not utilize full potential of their device.
Obviously, there are already existing solutions on the market, but they are provided by big, centralized companies such as Amazon, Microsoft or Google. As they are controlling whole market, they are able to impose high margins, so it is not favorable for the user. Additionally, such situation on the market is not healthy, because it inhibits development.
As you can see, an ideal situation would be if users with excess of computing power could share it (obviously for Tokens) with those who have a deficiency of it.
Golem is a decentralized, open source Supercomputer, which aims to create a worldwide market of computing power. Golem connects devices in a peer-to-peer (P2P) network and divides users between three fractions:
These three groups are connected in one ecosystem, which is an independent and decentralized solution.
CGI (Computer Generated Images) rendering may be very demanding process for a single computer. Fortunately, using Golem users can distribute processing of any Blender and LuxRenderer scene over the Golem Network, which will increase the speed of rendering process 12 times (According to this video). Additionally, such method is much cheaper than a traditional cloud-based services.
Everyone has heard about impressive possibilities offered by AI. However, AI also need a space to execute machine learning which demands a lot of computing power. Golem has perfect possibilities to solve these problems, so the team is currently developing appropriate tools which will significantly increase a speed of this process in the future.
Golem Network Token (GNT) is already well known in the crypto sphere and tradable on major cryptocurrency exchanges, such as: Huobi, Upbit, Binance, Bittrex, Poloniex and many more. GNT has some unique features and performs important functions in the Golem network, which provides correlation between the market value of the token and the size of the Golem network:
GNT supply has been fixed during a crowdfunding campaign. This means that no GNT is going to be created in the future. During the campaign, sending 1 ETH to the Golem wallet generated 1,000 GNT. The point was to collect at least 150,000 ETH, but finally, the maximum predicted amount of ETH (820,000) was reached. The distribution of created tokens is as follows:
○ Total - 1 000 000 000 (100%)
○ Crowdfunding participants - 820 000 000 (82%)
○ Golem team - 60 000 000 (6%)
○ Golem Factory GmbH - 120 000 000 (12%)
GNT is the core on which the Golem's network is based. Every transaction between requestors and providers for delegated computing power is handled by GNT. Also developers who provided their software get paid in GNT. In the future, Transaction Framework (learn more in Whitepaper, page 9) will enable adding new features to the token. For instance, it may be required to store deposits in GNT.
Users are able to set any ask/bid price for computing power in the Golem network, therefore it will be resistant to the market fluctuations in the GNT price.
As the number of GNT is constant and the Golem network is expanding, the demand for the tokens will be increasing. Due to that, the overall success of the Golem network means a long-run appreciation of the GNT.
The roadmap is divided into four milestones:
Holders - 99,496
Top 20 addresses own 62.74% of the supply
Source
Token activity is at a relatively high level.
Julian Zawistowski (CEO) and Andrzej Regulski (COO) are founders of the imapp, Polish consulting company focused on economics and policy analysis for government. After a few years of working there, they have decided to assemble a team and start a new project - Golem. They succeed in establishing cooperation with a few outstanding developers - in this way an experienced and unique team was formed. Many of them are also engaged in other blockchain projects, which allow them to gain experience from other fields. Here you can find the whole team.
In 2017, Golem has announced an interesting partnership with Friend Software Corporation.
There are a few other platforms that are trying to solve the problem:
Funds raised in the ICO - $8,600,000 (According to Forbes)
Current Marketcap of the GNT - $141,946,760 (According to CoinMarketCap)
Supercomputers processors are usually placed next to each other. Due to that, they are able to exchange information and communicate very quickly. In Golem, this process has to be performed by much slower internet link, which limits the possibilities. However, supercomputers usually performs tasks which do not demand so frequent information exchange, so in such situation, Golem will be as fast as traditional solution.
I am also curious how effective will be the use of many weak devices in order to perform tasks designed for supercomputers. I suppose that power ratio is not directly proportional.
Golem team has a problem with meeting the deadlines. They provided very optimistic dates of releasing next milestones in the Whitepaper, but they have delays. I came across with opinions of the users who were really dissatisfied and sold their tokens.
Golem is definitely one of the most interesting project in the crypto sphere. Decentralized supercomputer always aroused a lot of emotions, as it provides powerful possibilities of development various fields of technology, especially AI. The best proof of necessity of Golem is fact, that during the crowdfunding campaign it raised maximum predicted amount of ETH (worth $8.6M) in just 29 minutes! Golem creates situation which is characterized as “textbook perfect competition” (in contrast to big cloud services providers). Due to that, price of the computing power is relatively low and over time more and more investors will be attracted to GNT. (data According to Forbes)
