Today we continue to talk in order of market value. The recent growth of this project is also very good. It has almost doubled from the low point in June to now. It is Golem (GLM). The current market value is 240 million US dollars, and the market value ranking is 130+. Projects in this range often appear with a new face, and today we will take a look at its potential.
Introduction
Golem is a decentralized computer computing power rental platform built on the Ethereum platform. Golem is a global, open source, decentralized supercomputer accessible to anyone. It consists of a combination of personal laptops and user machines throughout the data center. Through the Golem platform, any user can become a seller and renter of computing power. Whether the user provides an idle home computer or several large data centers, they can be added to the Golem platform. The Ethereum-based trading system is applied to the Golem platform to settle the income of computing power providers and the fees paid by computing power users.
In fact, this project is a bit like AKT, basically the same model.
The Ethereum-based trading system is applied to the Golem platform. GLM is used to settle the income of computing power providers and the fees paid by computing power users. Users can buy and sell computing power through this network, which means that users can buy and sell computing power on other platforms. Complete tasks requiring computing power on people’s computers, or sell your spare computing power to people in need. Golem is composed of all nodes running Golem applications. It runs in a completely peer-to-peer manner and can be used to simulate the stock market, big data analysis, medical research and even cryptocurrency mining. This will reconstruct businesses such as cloud mining. .
Golem will automatically match users' computing power needs with suppliers, and it also provides a probabilistic micropayment method based on Ethereum to reward users who share their computing power resources. After users set computing tasks, Golem will automatically assign tasks to network nodes. Users can choose how much RAM, disk capacity and number of CPU cores they can provide. The computing tasks are run on virtual machines to ensure that no damage is caused to the node's computer, regardless of the computing task.
The original idea of Golem was to operate like a DAO, where users could obtain tokens during the ICO phase, and these tokens also had voting rights. However, due to the attack on the DAO, the Golem team decided to conduct crowdfunding through a normal ICO. Golem Network Token (GNT) accounts are created during the crowdfunding phase. GNT is the core part of Golem and is used to ensure flexible control of project development. GNT tokens are generated during the crowdfunding phase, and then GNT will be an integral part of the implementation of many functions of the Golem network.
How Golem works
Golem connects computers through a P2P network, allowing application owners and individual users (computing power "requesters") to rent computing power from other users (computing power "suppliers"). The supply of computing power resources will come from personal and professional computing power. Provided by the supplier, these computing resources can complete computing tasks that require certain computing time and computing power, and can be combined with a series of exclusive software solutions distributed on the "Golem Application Registration Market". The "Application Registration Market" itself is also a self-operating application market with detailed information and competitive advantages.
By integrating some proprietary software, any interested third party can create and deploy software on Golem and publish it through the application registration market. Golem also has a core built-in feature - an Ether-based payment transfer system, which can realize direct payments between computing power buyers (requesters), sellers (suppliers), and software developers. Under the transfer payment framework, developers can expand and customize payment methods to achieve unique ways of making money. The market mechanism implemented by Golem requires the support of three groups of users: computing resource sellers ("computing power suppliers"), task creators who upload required computing tasks to the network ("computing power requesters"), and software developers . These three groups of people form Golem's unique interdependent ecosystem.
Golem Ecology
Golem utilizes an Ethereum-based payment system and the Golem token (GLEM) to facilitate transactions between users. The Golem ecosystem consists of three main groups; requesters, providers, and software developers. Golem believes that the network will be more price competitive than traditional cloud computing services, thus motivating users to choose Golem.
Requesters are users who wish to access shared computing power in the network in exchange for GLEM. Requesters can run specific tasks through Golem applications that aggregate the computing power available in the network. Golem provides a native application where users can run their tasks and track various metrics.
Providers are users who contribute their hardware to increase the computing power of the network's supercomputers. Because Golem aggregates computing power across providers, these users can provision hardware from personal PCs to complete data centers. Providers can choose the proportion of contributed hardware they want to add to the network and the price for using their computing power. Requesters pay providers in GLEM.
Currently, Golem is creating the necessary developer tools for potential software developers, including an application registry where developers can publish their applications and requesters can easily search and find the specific applications and tools they need. .
Use case: CGI rental
The first is CGI rendering, which is a good example of the use of GLM. Rather than using expensive cloud-based services or waiting for your own time machine to complete the task, CGI artists can now rent computing resources from other users to render an image. This is very similar to the model of the rndr cloud rendering project we talked about before.
Token distribution
The initial issuance time is 2016-11-11, the crowdfunding price is $0.010488, the maximum supply is 1,000,000,000 GLM (GNT), and the circulation rate is 100.00%. The current price of the currency is US$0.25, and the peak price was US$1.7 in 2018. The lowest point of this bear market period was 0.15 US dollars, and the highest reached 0.31 US dollars yesterday on August 9th, so it has almost doubled, and the momentum is very strong.
Finally, we concluded that the GLM project can also be regarded as a computing power rental platform. The RNDR cloud rendering we talked about some time ago is actually a computing power rental platform. When we talked about it, it was only 1.2 US dollars, and later it rose to 3 US dollars. There is still $1.70 left today. And the GLM we talked about today has also doubled, so will this track take turns? Why does this happen? In fact, it is still the end of the bear market, and a large amount of funds are still afraid to come in. So the leading birds who come quickly can only engage in one sector after another, make a profit and then leave, and change to one that can explode. Project, first of all, this kind of project must have good enough fundamentals, and then it cannot be the kind of dish that everyone is familiar with, and then a lot of leeks are stuck. Third, the project party cannot have a large amount of chips in its hands. So based on these clues, we have talked about another project in this track before, AKASH. Will it be the next one to skyrocket? Then I immediately took a look at AKT. Damn it, my analysis was too late, it had already started to skyrocket. At that time, I remember that when we talked about akt, it was only 0.6 US dollars, and now it has increased by 50% to 0.9. But it’s okay. I’m thinking about other projects that have more opportunities recently and publish them on Knowledge Planet as soon as possible.
