Golem is an open sourced and decentralized supercomputer powered by User’s machines ranging from laptops to data centers and anyone can accessible it from anywhere.
The financial world is changing super-fast with cryptocurrency becoming a dominant player in the last few years. There are different types of cryptocurrencies out there, all of which have numerous benefits and are part of the new economy for the future. This rapid growth in their use gives rise to the need of having a decentralized system that can be accessed by all users. This is where Golem comes in. It is an open sourced and decentralized supercomputer powered by User’s machines ranging from laptops to data centers and anyone can accessible it from anywhere.
• Use of Golem in Cryptocurrency: Mining
Golem has the power to run cryptography, whereby it can help in factorization and running the world’s largest decentralized cryptocurrency mining pools. This gives you access to study how a certain crypto coin is fairing and decide on the best time to mine. Its infrastructure is designed to support rendering programs making it suitable for mining purposes and for having several wallets that can hold millions of already mined crypto coins.
Additionally, it is made of nodes that are running on Golem app which can be used in the analysis of big data, stock market simulation, and cryptocurrency cloud mining. This feature is expected to restructure cloud mining since it gives you the ability to use someone else’s computer hence making the entire process cheaper and efficient.
• Benefits Offered by Golem
Golem creates a peer-to-peer network. Once fully established, it will receive support from all computers running the Golem App. Golem app is open source, and hence, anyone willing to join the network can access it. Once in the network, you can share or complete a heavy computing task on someone else’s machine or you can lend your computer to anyone within the network when you are not using it. The overall result will be simplified tasks and creation of exciting opportunities at the global level in various fields including stock markets, science and medicine, art, and business.
Golem will automatically match people’s computing power with its providers and come up with an efficient micropayment scheme. As people share tasks and lend their machines, a payment option needs to be introduced, and according to Golem developers, it will be Ethereum based. Additionally, Golem Project developers aim at developing a system that can easily be integrated with other systems. This can be achieved by supporting different programming languages such that developers can integrate the protocol using their own application. All of Golem’s basic info is available at https://golem.network/.