What is Golem (GNT)?
Golem provides a solution to the problem of massive computational requirements for more advanced calculations and applications such as AI, chemistry predictions, site hosting, artistic rendering, video game streaming, media processing, coding proteins, and even mining cryptocurrencies. Buy Golem (GNT) India – BuyBitcoin.
Instead of relying on one supercomputer to run these advanced demands, the network distributes each of the tasks into smaller parts in the server, allowing for anyone to access the decentralized supercomputer in an efficient and inexpensive way.
Person to Person Network
The Golem Network is a person to person network, where anyone can make money ‘renting’ out their computing power or developing and selling software. Golem enables users/applications (requestors) to rent out cycles of other users’ (providers) machines, and any user ranging from a single PC owner to a large data centre can contribute resources to Golem network.
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Golem connects users across the network so that they can perform tasks on their computers much faster and that normally take a long time. The faster processing time gives individuals the opportunity to complete what they need to do and to do even more than usual.
The Golem Network makes computing decentralized by changing the very nature of how computer intensive tasks are carried out and distributed, and it may just be the future of computing that gives users much more power.
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Golem Network Token (GNT)
GNT is an ERC20 token that you use to pay for the computing power that you rent. As a provider, you’re free to set your GNT rental price at whatever you deem is appropriate. Because Golem is a marketplace, these prices should find an equilibrium over time. You’ll also need GNT to submit deposits as a provider and participate in the Application Registry.
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The Golem team minted 1,000,000,000 GNT during the ICO of which 82% was distributed to the crowdsale participants.
Golem Network has a tremendous amount of applications for users around the world who don’t have sufficient computing power. In the long run, there is an opportunity for tremendous benefit and gain. Zawitowski believes that the Golem network is more about the technology and software than the markets and coins. While they aren’t the only of its kind, they will certainly be a strong contender.
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