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What is Golem (GLM)?
Golem —— A global, open source, decentralized supercomputer
Website Explorer Technical Documentation
- Golem is designed to serve as a "global, open source, decentralized supercomputer that anyone can access". It envisions to build a decentralized sharing economy of computing power and supplies software developers with a flexible, reliable and cheap source of computing power.
- Golem relies on an Ethereum-based transaction system to settle payments between providers, requestors and software developers.
- Its network is made up of the combined power of users’ machines, from computers to large data centers. The use of the Golem network targets a wide variety of use-cases, ranging from CGI rendering to complex scientific computing.
- Golem allows users and applications (requestors) to rent out cycles of other users’ (providers) machines. Any user (both individual and large data centers) can share resources through the Golem network and get paid in GNT (Golem Network Tokens) by requestors. All computations take place in sandbox environments and are fully isolated from the host’s system, reducing security risks from the perspective of providers.
Golem Key Metrics
| Market Raking | #130 |
|---|---|
Market Cap | $78,588,977.51 |
Circulating Supply | 646.478.687 GNT |
Total Supply | 652.028.687 GNT |
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About Golem
On April 28th 2016 the Project was announced, led by Golem Factory, was co-founded by Aleksandra Skrzypczak, Andrzej Regulski, Julian Zawistowski and Piotr Janiuk. The network launched on mainnet on April 10, 2018. Golem is a global, open source, decentralized supercomputer that anyone can access. It is made up of the combined power of users’ machines, from PCs to entire data centers. It is capable of computing a wide variety of tasks, from CGI rendering, through machine learning to scientific computing. Its limitations are only defined by our developer community’s creativity.
Golem creates a decentralized sharing economy of computing power and supplies software developers with a flexible, reliable and cheap source of computing power.
GNT( Golem Network Token) is needed to pay for computations on the network and is the currency that drives our marketplace. As a Requestor, you set a bid for an amount of GNT you are willing to pay to have your task completed. As a Provider, you earn GNT by computing tasks for Requestors. You can set your minimum and maximum price thresholds in your settings.
On November 19th, 2020, the GNT token began a migration to the new token GLM where individuals holding GNT were able to burn their old GNT tokens and receive the new GLM 1:1. It will always be possible to migrate GNT to GLM 1:1.
Golem Ecosystem
- Amarketplace to empower Users
Golem enables users and applications (requestors) to rent out cycles of other users’ (providers) machines. Any user ranging from a single PC owner to a large data center can share resources through Golem and get paid in GNT by requestors.
- Ethereum-based transaction system
Golem utilizes an Ethereum-based transaction system to settle payments between providers, requestors and software developers. All computations take place in sandbox environments and are fully isolated from the hosts’ systems.
- Developers in the center of the ecosystem
Software developers are in the center of Golem’s ecosystem: Our Application Registry and Transaction Framework enable anyone to deploy, distribute and monetize applications in the Golem network.
How Does Golem Network Work?
The Golem ecosystem revolves around the three types of stakeholders: resource requestors, providers, and software developers. Every one of them has different incentives to participate in the ecosystem.
At the moment, Golem runs its first version for CGI computing only. It’s called Brass, and it supports two templates: Blender and Luxrender, which are two common open-source frameworks for making computer graphics.
If you, for instance, need to render a beautifully animated scene made in one of these programs, then all you need to do is select the appropriate template, add all the necessary info into the task manager and send it to the Golem network.
On the other side of the process, a resource provider retrieves all the available task offers and chooses the best one. Then, he or she replies to the proposal suggesting a price and relevant computing power info. If the conditions satisfy the requestor, the needed files are transferred to the service provider via IPFS, and the computing process begins. Once it is complete, he or she sends the outcome back to the requestor.
In the final stage of the process, the task manager passes the information to different nodes for result verification. If all is well and good, the Golem payment system receives an order sent via Ethereum smart contract and executes the payment.
Another integral part of the Golem network is the reputation system. It serves as a way to find and verify valuable and reliable network members and keeps the system fair and square. It uses measures like the accuracy of results or payment confirmation time and plays a crucial role in the ecosystem where all network users have equal privileges.
Besides the reputation system, other noteworthy Golem components include Application Registry and Transaction Framework. The Application Registry allows developers to publish their Golem dapps that help the network. The Transaction Framework is a set of requirements every developer must meet when adding a transaction model in a self-made Golem application.
Use Cases and application examples for Golem
- Scientific research
- Render complex computer graphics
- Data Analysis / Big Data
- machine learning
- Artificial Intelligence and much more.
