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This one of the questions you can put in the category of 'frequently asked questions'. According to their own site, Golem is the following:
Golem is a global, open sourced, decentralized supercomputer that anyone can access. It's made up of the combined power of user's machines, from personal laptops to entire datacenters. Anyone will be able to use Golem to compute (almost) any program you can think of, from rendering to research to running websites, in a completely decentralized & inexpensive way. The Golem Network is a decentralized sharing economy of computing power, where anyone can make money 'renting' out their computing power or developing & selling software.
To say it in easy language, Golem wants to be the Airbnb for computers where everybody can rent or lease computing power. One off the first applications that Golem wants to achieve is to make decentralized rendering possible, specifically 'CGI' rendering. Lets take a look at the process.
The transaction process of Golem is given in the figure below.
After the figure it will be explained in steps.
First the computer graphic artist buys Golem tokens (GNT) on the network. Golem determines that the rendering process needs, for example, five computers running for 1 hour each. When a graphic artist integrates her application with Golem, she has the freedom to decide which transaction model she implements, as long as it is compliant with Golem's Transaction Framework. Examples of transaction framework components are custom receipts, payment to software developer or Per-unit use of software (per-node, per-hour, etc.).
The CGI artis will pay 5 GNT to the 5 other computers. This happens automatically in the Golem network.
GNTs aren't actually traded on the Golem Network itself. The CGI artist's transactions are recorded onto the Ethereum blockchain, which updates the account balances of each computer that participated.
Computers supporting the Ethereum network, called miners, compete to solve a computationally intense math problem. The winning miner adds a new block of transactions to the ledger.
The ledger contains every Ethereum transaction ever made. This single source of the truth is nearly tamper-proof because all the computers running the Ethereum software hold a copy of it. The GNT transactions are recorder in the Ethereum ledger.
Golem makes rapid progress in the development of its product and data scientists, companies or editors will soon use the computing power. One of the applications could be CGI rendering, making algorithms or mapping the whole galaxy! With the decline of cryptocurrencies today, it may be an ideal moment to step in Golem. But that’s is a decision you need to made by yourself.
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