Golem (GNT) price

What is Golem?

The Golem platform aims to be a global, public, and decentralized supercomputer running on the idle computer power of any type of participating computer around the world. This supercomputer could be used to run any type of program at a low cost in a decentralized manner. 

The Developer team is led by Julian Zawistowski (CEO, founder), Piotr ‘Viggith’ Janiuk (CTO, co-founder), Andrzej Regulski (COO, co-founder), and Aleksandra Skrzypczak (Lead Software Engineer, co-founder).

It is based on a sharing economy where users can rent their idle computer power and they can also sell their developed software. The first version of the platform called Brass Golem will be focused on implementing low cost and decentralized CGI rendering. The developing team claims that the technology will revolutionize several aspects of human life, with more applications to be discovered. 

The Golem network is made up of nodes. Each node is in charge of sharing computing resources like GPU and RAM and receives payments for their lease this is the “Provider” role. They can also act as “Requestors” who send tasks to the Golem network and specify their characteristics. Or, they can act as “Software Providers” who provide software to be used in the Golem environment. 

Some of the fields that will be impacted by this technology are:

• Business: With its great capacity for data analysis, the platform could dramatically boost efficiency while keeping costs low.
• Machine Learning: Complex software systems can be run faster in the Golem environment.
• Cryptography: The platform is capable of running the first decentralized crypto mining pools. The network is also capable of working on any other cryptographic problem required.
• Science: Nowadays, fast and reliable data analysis is one of the biggest necessities of the scientific world, Golem will empower scientists with powerful and fast tools to meet their needs.
• Microservices: The Golem application registry allows the running of decentralized Microservices and DApps, which users can develop, sell and share.

The transaction system is based on Ethereum. The GNT Token is traded from ETH through a Smart Contract. Some other important features described by the Golem team are:

• Task Definition: Using Golem's Task Definition Framework and libraries, users can define computing tasks easily for high-level programming languages. Golem automatically distributes the tasks over the computing nodes.
• Task Computation: Computations inGolem nodes are made by virtual machines. Renters can decide the amount of CPU cores, RAM and disk space they wish to rent using the Golem Network.
• Application Registry & Transaction Framework: using the Golem Network's Application Registry, Developers can distribute software on the Application Registry (which is like an app store). The Transaction Framework allows developers to “choose whatever remuneration model they desire to make a profit (or not) from their software.”

The Golem ICO, raised over $8.6 million in just 29 minutes on November 10th 2016, becoming the third largest platform ICO (Initial Coin Offering) ever.