GOLEM - A New Era To Decentralized Computing

When we talk about decentralization, the first thing we think about is the “Blockchain”. With the advent of blockchain in the technological market, “decentralizing computing” has gained importance.

Visions Of Golem

Golem is said to be the first purely decentralized supercomputer that is driving the global market for computing power. It provides flexible tools to help the developers in distributing securely and monitoring their software. Golem is poised to become key building blocks for internet service providers and the software development process because of its powered decentralized microservices and asynchronous task execution.

As Golem provides low computation cost, applications such as CGS rendering, scientific calculation and machine learning have become accessible to everyone. It connects a computer in a peer-peer network, where both the application owners and the individual users (requestors) are able to rent the resources of other user’s machines (providers).

Shared or rented resources can be used to complete pending tasks which require a large amount of computation time and capacity. Golem’s built-in functionalities are “Ethereum Based Transaction system”, which facilitates direct payment/transaction between the developers, requestors and providers.

The functionalities of the Golem in the decentralized market are considered as both Infrastructure-as-a-Service and Platform-as-a-Service. Golem also offers third-party software integration facility in which any interested party is free to create and deploy their software to the network by publishing it to the application registry.

Benefits of the Golem

The supply of computing resources by Golem is based on the contribution done by the professional and individual providers, which have a combined array of dedicated software registered in the “Golem’s Registry Application.”

There are 3 groups in Golem’s ecosystem which are required to scale the network,

Providers: Supply the computing resources
Requestors: They are the ones who create the task that has to be computed on the network.
Software developers

Groups	Golem Features	Incentives given on Participation
Requestors	Tools are provided by the Golem to perform compute-intensive tasks.	Requestors get access to affordable and scalable solutions.
Providers	Golem can be combined and use all kinds of existing hardware.	Hardware providers are paid for renting their resources.
Software Developers	It provides a flexible platform where anyone can deploy and monetize their software.	Golem is used as a distributed channel which provides access to the hardware.

Future Vision

We all can predict that the future Internet will be a totally decentralized network, which will facilitate the users to exchange the information securely and directly without the intervention of middlemen. Golem will not only provide you the resources to compute specific tasks but will also rent bulk machines in order to carry out operations within a self - organized network.

Golem Network Token (GNT)

It is a core component of Golem.
It is designed in such a way that it ensures flexibility and control on the evolution that is going to be done to the project.
It was created during the crowdfunding period.

Variety of functions that GNT apply,

All the payments which are to be done for using the resources and the incentives paid to the software developers for their services are to be done using GNT only.
After the application registry and transaction framework implementation are done, all the interactions related to them are to be done using GNT only.
General conditions regarding the usage of GNT will be done or mentioned in the transaction.

GNT supply and Crowdfunding information

Now GNT is an Ethereum based token. All the standards laid out for token implementation are being adopted in its design. Token created during the crowdfunding period.

GNT created per 1 ether	1 000 GNT
Minimum ether	150 000 ETH
Maximum ether	820 000 ETH
% of tokens generated to Golem team	6%
% of tokens generated to Golem Factory GmbH	12%
Approximate date of start (Start Block)	11th November 2016, 3:00 pm GMT
Approximate date of the end (End Block)	2nd December 2016, 3:00 pm GMT
Maximum number of GNT generated	1 000 000 000 GNT
of which crowdfunding participants	820 000 000 GNT
of which Golem team and Golem Factory GmbH	180 000 000 GNT

1 Ether = 3,389.83050 GNT if it is send to an GNT account. (at the time of writing this article.)

No token creation, mining or minting was carried out after the crowdfunding period.

Agenda of the Golem

Conclusion

Golem has been working hard on their future plans and agendas which will help users to use their unused CPU and GPU cycles and get paid for their services or the resources in cryptocurrencies. This will surely make a drastic impact on the benefits to the IT market in the future.

Note
I don’t possess any rights to any of the photographs used in this article.