Golem is Live!
Golem, one of the most ambitious apps of Ethereum is finally live! The app promises that its users would be able to earn some extra money while browsing the internet.
It is a peer-to-peer market wherein you can put excess power from your CPU to be used by other people. After 14 software implementations made over a period of three years, the app is finally going live on the ethereum blockchain.
The project raised 820,000 ETH and sold out of its GNT token in a mere 20 minutes in 2016. It would definitely see a great amount of fanfare. After all, it belongs to the initial generations of applications in Ethereum.
Currently, it enables computers which have some amount of excess CPU power to rent that power out. This power is then used to create computer-generated imagery (CGI) using Blender. Blender is an open-source software used to make animated films, interactive 3D applications, video games and visual effects.
The user needs to swap some amount of GNT for computational power using an interface which connects to Blender.
Golem Brass Beta, the current release of Golem, is just an effort to test if the technology would actually function with real money in the real market conditions or not.
As for now, Golem works with the help of a software client connecting the two parties involved—”requestors” wanting to rent CPU power and “providers” selling computational resources.
The providers are distributed small tasks which together form a full computational picture. All of the transactions happening in the system are directly between the nodes present on the network. While Golem isn’t built on a blockchain, it uses Ethereum for its token, and for consensus on GNT transactions.
In future, the goal is to create a dedicated plugin for Blender to avoid all of the extra steps required for using Golem’s service through the application. Later, they would also allow the network to provide computational resources for machine learning.
The project certainly is a sought out one, especially after the announcement of Antminer E3.