(Last Updated On: December 18, 2018)

Basic Information

Address 0xa74476443119a942de498590fe1f2454d7d4ac0d
Twitter Handle golemproject
Rate (in USD) 0.0568654528
Market Cap (in USD) 54581850

Description

Grand vision and core features

Golem is the first truly decentralized supercomputer, creating a global market for computing power. Combined with flexible tools to aid developers in securely distributing and monetizing their software, Golem altogether changes the way compute tasks are organized and executed. By powering decentralized microservices and asynchronous task execution, Golem is set to become a key building block for future Internet service providers and software development. And, by substantially lowering the price of computations, complex applications such as CGI rendering, scientific calculation, and machine learning become more accessible to everyone.

Golem connects computers in a peer-to-peer network, enabling both application owners and individual users ("requestors") to rent resources of other users’ (""providers"") machines. These resources can be used to complete tasks requiring any amount of computation time and capacity. Today, such resources are supplied by centralized cloud providers which, are constrained by closed networks, proprietary payment systems, and hard-coded provisioning operations. Also core to Golem’s built-in feature set is a dedicated Ethereum-based transaction system, which enables direct payments between requestors, providers, and software developers.

The function of Golem as the backbone of a decentralized market for computing power can be considered both Infrastructure-as-a-Service (IaaS), as well as Platform-as-a-Service (PaaS). However, Golem reveals its true potential by adding dedicated software integrations to the equation. Any interested party is free to create and deploy software to the Golem network by publishing it to the Application Registry. Together with the Transaction Framework, developers can also extend and customize the payment mechanism resulting in unique mechanisms for monetizing software.

White Paper – Key Points

  • scaling the compute market enabled by golem requires onboarding three groups: suppliers of computing resources (""providers""), task creators (""requestors"") who submit their tasks to be computed by the network, and of course, software developers.
  • software & microservices although some initial use cases (such as cgi rendering) are going to be developed and implemented by the golem team, it is essential to engage other software developers to develop their own ideas for golem applications.
  • golem network token (gnt) the golem network token (""gnt"") account is a core component of golem and is designed to ensure flexibility and control over the future evolution of the project.
  • once the application registry and transaction framework are implemented, gnt will be necessary for other interactions with golem, such as submitting deposits by providers and software developers or participation in the process of software validation and certification (as described in the application registry section).
  • in the 'minimum financing' scenario, the ultimate deliverable is a working stone golem with functionality enabling the creation of a decentralized market for computing power, as well as a rudimentary toolbox for developers to integrate their own software with golem.
  • assuming higher thresholds of funding are reached, the golem team commits to create integrations useful to the entire community in earlier releases as well to provide software developers with more support in integrating their solutions with golem and bringing them into the market.

  • Read Full White Paper

    Supply Analysis

    Estimated Available Supply 959842000
    Total Supply 1000000000
    Dilution Factor 0.959842
    Pct of Total Supply in Large NBNI-1 Wallets 0.500283420708408
    Pct of Total Supply in Large Anon Wallets 0.600284420708408
    Pct of Total Supply in Large ID Wallets 0.293796905945827

    Correlation Metrics

    Ethereum Correlation 0.195770934446211
    Bitcoin Correlation 0.921777872773666

    Twitter Metrics

    Follower Count 105376
    Verified Follower Pct 0.000916555279740309
    Investor Follower Pct 0.025911781554325
    Avg Follower/Friend Ratio 1.61540141534032
    Avg List Count 7.31607790719878