Golem project on the basis of Ethereum: a decentralized market for leasing computing power.

in #bitcoin7 years ago

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Golem is a decentralized P2P network built on smart contracts and the blockchain of the Etherium. It is designed to organize trade in the computing power of computers and computer networks. Golem will enable users to buy and sell unused computer resources.
The average user downloads the processor of his computer for 10 - 15% during the working day, while the computer stays on and consumes electricity.
With the help of Golem, decentralized computing of almost any processes is possible, but the developers of the platform believe that in the early stages of development the main application will be CGI rendering, and that's why:
The CGI rendering code is relatively easy to execute in a decentralized system. First of all, this refers to animation, but in many cases even processing one frame can be effectively performed on many computers. In addition, the transfer of the source and processed data takes considerably shorter time compared to the duration of the computational processes.
Rendering is an established and profitable business. Render-farm - a source of computer capacity for architects, designers and CGI-animators. Minimal estimates of the annual turnover of the rendering market, even without the largest players, are about $ 200 million per year.
Golem was preparing to launch in the form of DAO, the affiliated structure of TheDAO, but after the well-known events it was reformatted as a separate project. Tokens of the Golem network, in contrast to the DAO, do not give their owners voting rights, but only economic advantages - participation in the distribution of commission payments. However, in the future, it is possible to convert the platform into a DAO type structure.
Golem network tokens (GNT)

GNT - the token, based on the Etherium, is the basis of all network transactions. It includes a mechanism for remuneration to the owner and ensures the security of transactions. Commission fees will be distributed between system developers and token owners.
How GNT works

All transactions on the Golem network will be subject to a commission of 5% of the transaction amount. These include:
Transactions between users (payments for capacity)
Transactions between users and developers - payment for applications in the Golem network on the SaaS model.
GNT tokens themselves do not participate in transactions. They only give the owner the right to participate in the distribution of payments.
Details of pre-sale tokens

For successful launch it is necessary to collect a minimum of 100,000 ETH, a maximum of 650,000 ETH. The company reserves the right to change the target parameters before the sales start in case of unexpected changes in the ETH courses. 18% of tokens are reserved for founders (6%) and management company (12%).
At the beginning of sales, each token sent to ETH will be generated with tokens. Before the end of the pre-sale, the company will start generating its own 18%. A full pool of tokens corresponds to 100% of commission revenue. After that, the issue of new tokens will become impossible.
Action plan

Raw Alpha code. Participate in the testing can now joining slack. Documentation is available.
Public alpha version, opening of the depository: 2nd half of August 2016
Ready Documentation (white paper) - September 2016
The beginning of sales of GNT - September 2016.
Golem is an infrastructure project. This is a platform that combines marketing, blockchain, computing and image processing. The success of the project can be a significant stimulus to the development of the entire network of the Etherium.

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source: https://bits.media

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