Altcoin to Invest: Golem

Altcoin to Invest: Golem

Golem Network (GNT) is a decentralized computer network. Golem is almost like any other blockchain project that has tokens. Its value is $0,21 although the market capitalization of the project at $178 million.

Users can buy or sell computing power between peer-to-peer environments by using GNT. Golem uses Ethereum smart contracts as a transactional system for nano-payments within the network.

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Golem is a global decentralized supercomputer that uses open source system, access to which is available to any person. It uses the processing power of users' computers – from regular laptops to entire data-centers.

Anyone can use Golem to perform almost any operation, from image processing to research and launch websites. It is entirely decentralized and low-cost method.

Applications

  • 1. Computer graphics. Golem can divide the processing tasks of computer graphics. Thanks to this, something that would take a few days will be done in a matter of minutes at a record low cost.
  • 2. Cryptography. Golem supports the world's first and the largest decentralized cryptocurrency mining pools. It can also use cryptography for the factorization of large numbers.
  • 3. Business. Golem can accelerate computing for enterprises while reducing costs.
  • 4. Science. The cost-effective and already available supercomputer would be extremely useful to science.
  • 5. Machine learning. If you teach artificial intelligence to recognize the voices, images or to play chess, Golem will speed up the process.
  • 6. Microservices. Golem application log supports endless options for decentralized microservices and applications you can develop and distribute.

The number of Golem possibilities will multiply with the advent of new technologies.

Collaborative consumption of the computer power

Golem allows users to rent computing power from other users. Any user can provide resources for Golem whether on his regular home computer or a data-center.

Technology

  • 1. Decentralized and scalable. There are no critical points in Golem network. However, Golem can connect millions of nodes with a peer-to-peer system.
  • 2. Safe. All calculations are made on virtual machines and are isolated from the systems suppliers.
  • 3. Open for innovation integrations. Developers can deploy and monetize their apps in the Golem system.

Features

  • 1. Peer-to-peer. The system guarantees decentralization and scalability. Golem supports node discovery and connectivity between particular nodes. Every connection is encrypted, which ensures safety.
  • 2. Problem-solving. Problem-solving in the Golem nodes is transferred into isolated virtual machines, which provides maximum protection. Suppliers decide how many processor cores or how much RAM they want to give Golem.
  • 3. The reputation system. The reputation system encourages the desired nodes behavior in a decentralized environment, instead of relying on regulators. The reputation of the node falls in case of inappropriate behavior and increases after successful operations.
  • 4. Identifying types of tasks. Golem allows users to define their task types using an appropriate framework and libraries for high-level programming languages. Then Golem distributes all functions among all the computing nodes.
  • Golem buying

    You can use the specialized exchanges to buy Golem. In February 2017, the Poloniex platform added a coin. Here it is traded in pairs GNT/GNT and GNT/BTC.

    Golem storage

    The cryptocurrency exchange can provide you a purse to keep GNT coins. Ethereum Wallet also fits Golem.

    Golem application log supports endless options for decentralized microservices and applications you can develop and distribute.

    In April 2017 multi-currency wallet Exodus announced the support token Golem. It is available on Windows (64-bit), Linux and Mac and integrated with exchange crypto plasm ShapeShift.

    Golem prospects look promising. Today various solutions are either in active development or already in alpha tests. If the creators can realize all plans, the project has all chances to turn the entire computing world and become a convenient platform for custom microservices.

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