Let’s suppose that you have an architecture office which works daily with projects’ extremely photorealistic 3D rendering. Your business is just beginning and your laptop doesn’t have enough processing power to supply your needing. Your Core 2 CPU and your low capacity HD aren’t hanging on and problems begin to rise: softwares stop working every time and projects render after centuries. You probably will think about buying a new computer with 8 GB RAM and 1 TB HD, but there’s a smarter and cheaper way to get the computing power you need: using other people computers. How? With Golem network.
What is Golem and what is its goal?
Before being an emerging virtual coin that promises good profits to those who invest on it, Golem is a supercomputer that any person in the world who searches for computing power can access, whatever are his or her reasons – scientific research, graphics rendering, Artificial Intelligence developing, data analysis etc.
In the platform are, basically, three kinds of people: the requestors, those who need a high performance data processing; the providers, those who sell their computers’ processing power to the requestors; and the software developers that use the network to distribute and monetize their softwares.
Of course, if you want to use other people computers you will need to pay a certain value, but there are much reduced costs. Using Golem network can be 10 times cheaper than buying new parts to your machine, for example.
Where does Golem token fit in on this story then? In the first place, the token is called GNT (Golem Network Tokens). It’s used in the payments requestors make to providers (for hardware usage) and to software developers (for software usage, of course). The Golem network, like many others, use an Ethereum smart contract.
How does Golem works and some technical details
In our example, you, an architect who needs to render your projects, would download Golem network’s software as a requestor and a provider (which can be a PC or an enormous datacenter) will provide you the processing capacity you need. Your renderings will happen perfect and rapidly, you will deliver the projects on time to your client and, pleased, you will pay your provider with GNT.
Any person with a desktop or laptop can sign in as a provider and receive payments in GNT, which makes Golem the first decentralized supercomputer of the world. To a provider to be “hired” there are some factors to consider: the price, his or her reputation in the network (there’s an evaluation system, therefore) and, obviously, the processing power of his or her computer.
So we can say that Golem’s main goal is to make cheaper the use of technology, making possible the development of researches and projects that, without having the opportunity of using this supercomputer – which is nothing else than an interconnected computers’ network –, maybe would never come true.
It’s important to emphasize that Golem is still in testing phase and by now is only possible to use the network to render graphics. Besides, only test tokens are being used yet. Namely, real GNT is not used yet in the platform.
Today you can find GNT for sale in exchanges like Huobi, Liqui and Bittrex for the price of US$0.32. There are 834.262 million GNTs existing in the market and the total supply is of 1 billion GNTs. The highest value GNT reached since its creation in November 2016 was US$1.16 in this year’s January. According to investors, it’s a crypto that has the potential to turn itself into a market giant.
Market position
Nowadays, GNT is at the 71st place in the crypto ranking presented by investing.com. Its market cap is of 265.65 million dollars and it moved in the past 24 hours (this article was written February 25th) more than 4.21 million dollars.
Conclusion
In Golem network you’ll find people who are willing to share the computing power of their machines for a very accessible price. Designers that work with animations, for example, don’t need to wait days to render them anymore. They only have to hire providers in the network.
Golem network is very interesting to software developers too, once it allows them to sell their softwares to those who use the platform and enjoy the benefits of a cheap computing power source too.
Concerning to the GNT, created by Golem network developers, we can say that its value tends to increase and it’s a good idea to invest on it today, given that Golem’s concept is quite interesting and probably it will spread rapidly around the world, valuing its crypto.