Golem

The Projects

Intermediate

By Adriana Hamacher

Learn

Feb 4, 2019

Golem is like AirBnB for computers. It combines the underused resources of every machine in its network to create a decentralized supercomputer. Users can rent or buy computing power on its global marketplace. Since the birth of the first microprocessor in 1971, demand for computational processing power has exploded. The cloud computing industry sprung up […]

What you will learn

What you will learn

What are the aims of the Golem project? How does it work? What other projects are in this space?

Golem is like AirBnB for computers. It combines the underused resources of every machine in its network to create a decentralized supercomputer. Users can rent or buy computing power on its global marketplace.

Since the birth of the first microprocessor in 1971, demand for computational processing power has exploded. The cloud computing industry sprung up to answer this need and, by 2020, is forecast to be worth $411B. Golem provides an alternative to existing cloud computing providers, such as Amazon and Google.

What is Golem?

Golem is a distributed computing platform, providing shared computing power that users can access for a fee. The platform lets you rent out your computer’s spare resources to others who need the additional power to perform complex computations and tasks.

DID YOU KNOW

Golem is named after the mythical Jewish creature Golem

What can you do with Golem?

The market opportunity Golem is targeting initially is around CGI (Computer Generated Imagery) rendering. Games designers and others often outsource CGI processing because of the intensive computer processing required. Machine learning and other heavy computing tasks are additional use cases.

How does it work?

Golem allows users to rent out the processing power of their computer’s CPU or GPU (graphics processing unit) to other users on the network.

The Golem supercomputer is made up of the combined processing power of all users signed up to the network. It can be harnessed by users who need to perform complex tasks their hardware might not be able to do on its own.

Power-providers are then rewarded with Golem Network Tokens.

DID YOU KNOW

Golem raised US$8.6 million in just 29 minutes during its November 2016 ICO.

What’s so special about it?

Anyone who periodically needs large amounts of computing power benefits—video game developers, low-budget movie makers, scientists, schools and artists.

Golem could make supercomputing as commonplace as logging on to social media.

And disadvantages?

There is little to stop the big cloud computing players from undercutting Golem, and offering their computing power for even less.

The project has been criticized for the cautious pace the development team has adopted.

What are Golem’s aims?

The Golem Network aims to become the first ‘world supercomputer’ and—one day—to challenge the cloud computing giants Google, Microsoft and Amazon and IBM.

What other projects are in this space?

There are a handful of others working on decentralized cloud computing solutions. Although not pure competitors, projects like iExec, Gridcoin, and SONM have some overlap.

DID YOU KNOW

Golem’s founder, Julian Zawistowski is a graduate of the Warsaw School of Economics, and worked at the national bank of Poland before entrepreneurship beckoned.

The future

In October 2018, Golem launched a GPU version of its decentralized computing power marketplace. As cryptocurrencies and blockchains move to less energy intensive consensus methods, such as Proof of Stake, their GPUs will be unemployed and Golem hopes to capitalize on this.

Golem may be some way away from offering the world a viable alternative to the cloud computing services of Microsoft and Amazon; the project is still in its initial phases, so its impact on the market is yet to emerge.

By Adriana Hamacher

Learn

Feb 4, 2019

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