Golem Network (GLM): Democratized, Censorship-Resistant, Peer-to-Peer Computing Power


In a decentralized peer-to-peer network, Golem Network (GLM) is democratizing cloud computing by bringing untapped processing power to the sharing economy.

Summary

Golem Network is a network that was launched in 2015 with the goal of democratizing censorship-resistant computing power.

This is made possible by a cutting-edge protocol that allows consumers to peer-to-peer (P2P) supply and leases idle hardware from providers.

The protocol’s settlement layer, which is powered by the Golem Network Token (GLM), enables the formation of a shared and alternative economy in which users can lease their gear and receive passive revenue.

All of these characteristics work together to allow developers to build on top of the platform in the same way that they would on normal cloud infrastructure, but without the drawbacks that come with centralized platforms.

Contents

Golem Network’s Innovative Approach to Computing Power

Due to space and power needs, purchasing hardware can be costly — not to mention impractical. It’s hazardous to rent computing capacity from cloud providers because they have complete control over your data. As a result, many people who require additional computer power find it impossible to obtain it at acceptable levels.

Most computers and digital devices, on the other hand, rarely employ their full computing capability, and many of them are always linked to the internet, leaving web-accessible, latent processing power idle.

This is where Golem Network enters the picture. Golem’s cutting-edge platform crowdsources computational power from individuals who have excess computational resources.

The network’s alternative economy is analogous to how Uber allows car owners to monetize their existing vehicles (as Uber drivers) and how Airbnb allows property owners to make money by renting out their spare rooms or houses.

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The pay-for-use approach of Golem Network reduces infrastructure requirements and entry hurdles for computing resources. Because tasks are not centralized with a single provider node, the approach also allows developers censorship-resistant control over calculations.

How Golem Network Powers P2P Computing

Golem is an open-source platform that is adaptable, completely customizable, and encourages software developers to be creative, independent of their location, background, or affiliation with the flexibility to adapt to a huge audience.

The Golem Network allows anybody, from huge universities to scientists, businesses, and artists, to take advantage of the world’s underutilized computer capacity to undertake data-intensive research and sophisticated computations.

The proxy-free environment created by Golem was designed specifically for open-source interactions and developer-friendly, creative execution.

Golem can do a wide range of activities, including computer graphics rendering, machine learning, and scientific computing.

The developer community’s inventiveness is primarily what defines Golem’s restrictions. The Golem Network Token, commonly known as GLM, is used to create a system with many checks and balances in order to promote best practices and ensure that interactions between customers and sellers on the platform run smoothly.

A “requestor” is someone who uses the Golem Network to rent computational capacity, whereas a “provider” is someone who sells computing power.

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The following stages must be completed before a project may be completed through the Golem Network:

  1. On the Golem Network, the requestor submits a task.
  2. This assignment is advertised with a demand that specifies the resources required as well as acceptable commercial terms.
  3. On the Golem Network market, the network’s providers have an offer for their computational resources.
  4. Demands and offers will be matched, and the market will route them such that requestors can negotiate “terms of business” with possible providers.
  5. When the two parties agree on the conditions of business, the input files are sent to the provider node, and the provider begins the work.
  6. After the output files have been sent from the provider to the requestor, payment notes must be given in order for the provider to be compensated for services, and the provider is then paid with the Golem token.

GLM’s Innovative Use Cases

Since its first release on March 1, 2017, Golem has continued to progress in order to provide the best developer experience, taking into consideration community comments to make constant improvements and implementing the first use-case of 3D model rendering.

The Golem Network has been fully operational since the launching of the Golem blockchain mainnet on March 10, 2018. Due to a large number of artists and animators who were unable to complete their computationally intensive work due to limited computer capacity, 3D rendering was a reasonable first industry to address.

Golem provides these users with a cost-effective way to acquire the resources they require.

However, Golem’s goal has always been to be a multi-purpose platform, as evidenced by its evolution. Golem Network is striving to expand its customer base to include not only developers and computer specialists but also regular users and enthusiasts.

To fulfill these goals, Golem proposes New Golem, a more comprehensive platform for generalized distributed computation that offers far more options than Legacy Golem or other platforms in the realm of decentralized computing.

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Finally, Golem takes use of the routinely incurred deadweight computational processing loss that occurs while the hardware or computational resources are not being utilized.

Golem provides an extremely reliable alternative to cloud infrastructure and data centers for today’s marketplace by combining this resource with the state-of-the-art Golem blockchain platform, which was built through an iterative loop of feedback and frequent product releases by a team of world-class computer scientists and software engineers.

The necessity for decentralized and censorship-resistant infrastructure becomes evident as the globe takes the first steps toward a technological paradigm shift to replace huge tech monopolies with fairer alternatives.

Golem is creating a genuinely open, democratized, and borderless platform that everyone may use. Its ground-breaking platform also establishes a new structure for the sharing economy, allowing trustworthy users to opt-in and receive services while also ensuring the network’s stability.

These characteristics combine to make Golem Network a compelling overall value proposition as a cutting-edge solution aimed at reshaping the future of computer-based power usage and resource allocation.

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