ADSactly brings to you a new knowledge series Know Your Crypto to spread knowledge about various crypto curencies/assets on the market.Today we discuss about the famous supercomputing project GOLEM also termed as Airbnb of computing by many.
About
Golem is an Ethereum-based decentralized distributed computation network,which allows users to buy or sell computing power. It is a P2P (peer to peer) network with no central servers. In layman's terms you can lend your computer power to someone who needs it for computation purposes and get rewarded for the same and vice-versa.
Team
The team behind project Golem is headed by Julian Zawistowski CEO & founder,along with co-founder and CTO Piotr Janiuk and other co-founders Andrzej Regulski (COO) and Aleksandra Skrzypczak. Paweł Bylica is the lead Ethereum engineer in the team
Initial Coin Offering
The ICO of Golem took place in month of November 2016. At the time of it's ICO in 2016 it raised more than 8.6 million dollars in just 29 minutes for its Golem Network Token (GNT).It also became the third largest platform ICO (Initial Coin Offering) at that time.
Use
The Golem whitepaper provides an answer to the question as to how will different groups of people use the network.
Other fields of usage of Golem includes :
- Computer Graphics
Golem can distribute the task of rendering CGI, and is able to do what would take days, for any other machine.
- Business
Golem can help you in advanced computations required for stock market predictions to big data analysis.
- MACHINE LEARNING
Golem's computational power can be used to TRAIN an AI to play video games or maybe recognise image and speech patterns.
- CRYPTOGRAPHY
Golem is capable of running the world's first and largest fully decentralized cryptocurrency mining pool.It can also help in cryptography work like integer factorization.
How does Golem Work?
Golem network is composed of nodes which runs the Golem Dapp.The network would match a users request for computational power with it's providers and also provide a micropayment scheme which will be implemented using Ethereum.This will be used to reward the providers of computational power.
Golem will distribute the task that user defines over it's network nodes that ensures the amount of RAM,sisk space and CPU Cores they can provide the network.Alll the computations are are done on a virtua machine to do no harm to node's computer.
Market Perfomance
At the time of writing the article GOLEM has a market cap of $252,341,220 and a circulating supply of 833,032,000 GNT (Golem Network Tokens).The total supply of GNT is 1,000,000,000 GNT.The current price of 1 GNT stands at $0.302919 or 0.00008919 BTC.
- Golem Prices-1 Month
- Golem Prices-1 Year
The current market stats for Golem can be found here
Golem is probably the world’s first decentralized supercomputer which is accessible to anyone and everyone in the world. It's cutting edge technologies like IPFS/Filecoin,Ethereum,Whisper,DEVp2p and Swarm will replace the huge data centers that currently power the net.
Author : @shrey
Is there already a Golem mining pool? That sounds awesome and I would like to be a part of that!
Pros compared to gridcoin?
I'm wondering the same. As far as I can tell this project is still in alpha phase and no mining can be done. At least no mining that renders any real coins that have value. The site also explicitly states that the project is not fully secure. So you are responsible for putting your own system at risk. This project stands nowhere compared to Gridcoin.
Great question. Gridcoin already has a bunch of active projects, but it doesn't have the PR that Golem has.
I think we're seeing that with a bunch of ICOs now.
Active projects with small market cap and Alpha (at best) projects with HUGH ICOs.
I hope Gridcoin can build on its early mover advantage.
This is a good review of Gridcoin pros compared to Golem:
https://steemit.com/gridcoin/@cm-steem/why-gridcoin-beats-golem-hands-down-nateonthenet
Thanks for that comment. I needed a review of that comparison. Now I won't sell the farm for Golem.
This advertisement provided me very useful knowledge on cyptocurrency. The software you over can be important to all of us in steemit. The next question of the steemit community here is how we can use the golem to assist us in witdrawing our rewards in steemit. Thanks for providing us your amazinf informations.
Thanks for the info been wondering about this one.
Great article @adsactly, please could you do NEO next? formerly known as Antshares.
"The Chinese Ethereum"?
Thank you!
https://steemit.com/cryptocurrency/@albertogm/neo-is-making-people-rich-remember-antshares
I should start in golem. It seems that it have a great future ahead and is a freaking awesome technology that have huge potential.
Golem is a great and sound project. You just need patience, 4 years for development.
That's what why am gonna buy it and hold it @ugaard becaus i trust it and I believe it has a huge potential in the cryptocurrency world.
I like Golem a lot. Hopefully it will become big in the next years. onG.Social is partnering with them as well. It would be great if you did an episode talking about onG.Social
Even I'm interested on an episode on ONGsocial
Update after 7 months: https://steemit.com/golem/@mmaarrttiinn11/airbnb-for-computers-golem
thank you very much @adsactly, this is the useful post for many people...
thanks for sharing..
keep steem on @adsctly
Very detailed info.
It will be a good crypto in the future for sure.
I am holding Golem. Unfortunately I bought one month ago when the price was higher than now. I believe it will grow in the future!
Thank you for this post. I am a big believer i Golem and own some on bittrex.
I only have 100 coins right now however I'm looking to buy more asap
This was a great write up and making me very interested.
good
great post.. keep it up.. i upvote ur post.. please upvote back... :-)
nice and good post on golen its really new information for me also ur yesterday topic of artificial intelegence was give me many knoledge...thanx for share ur great knowledge with us and help us in crypto confusens @adsactly sir
good work /////////////////please keep it up
another knowledge earned...thanks much
It will grow more and more , we just need to give it time like we gave a lot of other crypto currency time
hope it go up soon and our loss are cover soon sir
The article is very interesting, and very useful for me. Thank you, my regards @ fahrilzubir, from Aceh, Indonesia.
I saw this coin on eobot cloud mining site , thank you for sharing this in dept article on this currency , resteemed
Great project and in love with golem
Check out my recent Technical analysis on golem and correct me if i am wrong
I kept coming across this project and GNT but never understand what the company does and the problem they are solving using the blockchain, but now i have a good understanding.
Thanks @adsactly for starting the "know your crypto series"
Good work @adsactly
Didn't know much about this, now am wised up ! Thank you
great post.. keep it up..
☺☺☺☺
I don even remember how many times i heard good things about golem. I am starting to invest in it.
Thank you for the information, I think today I got new knowledge from your post.
Tiene mucha información a detalle y me gusta que esta bien ordenada, gracias por compartir
Nice - Golem is a great investment! I have a bit myself ;)
Golem was one of the first cryptocurrency I investigated, its project is awesome but it have too much supply in my opinion... Good information btw!
This is an excellent and informative post @adsactly and I'd never heard of Golem until now. The blockchain boom is crazy! Lending computer power to each other is something very new and exciting to read and you've cleared up a lot of the questions I felt arising as I read down your article. Good stuff old chap! ;-D
I am intrigued by Golem. I made a small investment 2 weeks ago, and looking to buy more. Nice post.
Thanks for the info its very nice
I never know what Golem is for. Thanks for this post! I have 4.8 golems in my wallet. Pretty small. :D (Maybe it will be like bitcoin and that 4.8 may become big, lol)
Thank you for the education! You make it pretty darn simple to understand :)
Amazing ! I am enjoying your steem.. Keep on buddy :)