The Golem Project
The aim of the Golem project is to create a global prosumer market for computing power.
I have only realized golem some few 5 hours ago in search for new Initial Coin Offerings (ICOs). When I found it I thought that it was already a service that is up and running so much that I created a plan on how to turn hash power into a currency. My bubble was not burst tho as they are in development I have made my decision to help in whatever way that I can.
My thoughts: If this project is completed it will force the price of bitcoin higher while giving a new frontier to the world makaing hash power a very valuable commodity whilst reopening the door to profitable CPU mining . At this moment the team is working towards a goal. They don't seem to sleep.
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I think Golem is a great coin and idea. It is probably a great time to invest in it now that it is like 50 cents each, before it becomes big.
Cheers : )
I question is, instead if just mining data for crypto, which ultimately produces nothing, could they instead use your computing power for real work and have that be the method of "mining"?
I've wondered this for awhile because I used to use my computer as part of a community effort to computer data in protein folding and, more recently, analyzing data for gravitational lensing. It would seem a far better to actually achieve something other than just using energy to farm for a newly created currency. Why not get more bang for our computing buck?
@jae5086 That is their Idea you got it correct my friend, the collected computing power will have many applications other than mining. The whole mining thing is not exactly as you say tho, it is doing work, it is pretty much reading all transaction, making sure that they are accurate and not repeated as well as keeping the network speedy. The golem project is like adding a whole new level which does give me goosebumps. If the succeed I'll quit farming and become a venture capitalist. What they are trying to do right now it something I have been waiting for my whole life.
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