Precious, My Precious! Welcome, Golem to our list of reported coins.

idcinc (62)in #bitcoin • 7 years ago (edited)

You’ve heard of Golem, right? You know like JRR Tolkien?

Here today we have Golem, only its a coin.
Golem you say like searching for his Precious?

Wait this is Golem coin, not the ring. This rewrites my entire childhood.
We’re here searching for a precious coin.

Unity here writing about Golem tonight, I hope it catches some of your interest as it has mine. As you read my report below, please feel free to respond in the comments section.

Within Golem's ecosystem is the ability to enable users and applications to rent cycles provided by other individual’s machines through Golem. As a "worker" you in turn get paid in Golem Network Tokens (GNT) by requestors. This coin utilizes an Ethereum based transaction system to accommodate payments from providers, requesters, and developers. Communications between parties take place in sandbox environments, fully isolated from the hosts’ systems. The software developers are always in the middle of the Golem ecosystem. Their application registry and transaction framework enables anyone to create, release, and sell applications within the Golem Network.

This looks a little something like this...

(Image Credit)

In the hopeful near future releases of Golem, you will see major improvements to the protocol within its flexibility and robustness. This is their attempt to expand the user base, they are reportedly already in the process of integrating new use cases to Golem in cooperation with their business and technological partners. A combined focus of the development of the core infrastructure has grown towards creating tools for software companies and developers. When solving these goals will assist in making Golem a competitive source of computing power and a plausible choice as an alternative to other existing cloud providers.

Currently its first release of the software Brass Golem solely focuses on one thing, the use of CGI rendering. You can also distribute processing of any Blender and LuxRenderer scene over the entire Golem Network. When doing so the results will arrive quicker than when running the same task on your own machine at the designated price you chose and accepted by suppliers of computing power. Together this ensures the creation of a healthy competition between each other, within the marketplace that has been created by Golem. You are always able to know exactly what you have chose to pay before submitting a task.

In their whitepaper Golem gives an example of the "first use case",

Aside from the first use case of CGI Rendering they are actively investigating future use cases to maintain significantly larger market sizes, Another next use case of Golem that they are actively looking into is training machine learning models. This technological field in science is currently thriving during its golden age and remains growing in need for computing power. Instead, right now they are building a simple proof of concept demonstration. The main goal is to assist in providing developers with a set of tools to allow them to also host their machine learning stack on Golem. They also believe that the demonstration of access to computing powers at a competitive price point which is very important in the progress of the machine learning field.

The Golem roadmap has a number of branches to hold the various projects they have upcoming with releases ranging from 6 to 48 months.

Joining the Golem Network is seemingly just as easy as downloading a simply application. Even more so, requesters can further offset the cost of computations because you can become a provider yourself as long as you are not currently working on your own projects.

Having a current market cap of approx. $375,000,000 USD, with a current supply of 834,262,000 GNT, and a total supply of 1,000,000,000 GNT Golem is growing in interest and in our view has a lot of potential as a project and coin in the Altcoin Community.