Overview

25/10/18 08:58 UTC-4

Golem: Opportunities and Prospects

Prospects and opportunities of Golem
Prospects and opportunities of Golem

At first glance, Golem is just another decentralized platform with a set of standard features that use blockchain technology. But if you try to understand the intricacies of the shell device, it turns out that Golem combines the enormous power of user computers that work in an ecosystem that can distribute the computing reserves of computers, depending on the requests of one of the network members.

 

Work principles

Any of the users can lease the necessary power from the network and use it in various activities, such as data processing, artificial intelligence management or research in the field of genetics. The Golem network manages a specific set of tasks that use the framework. Depending on the templates, there is a choice of the necessary solution of problems - as a result, the platform looks like an application store, where, among other things, you can add tasks, templates yourself and use them for transactions.

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The transfer of computing power occurs as follows: the party that leases power, by checking the network blocks, determines the most beneficial terms of cooperation and the reputation of the borrower, and only then those who are interested in renting the power make similar calculations. As a result, the parties come to a consensus and the Ethereum smart -contract is concluded. Payment for the lease of power passes after receiving services from the network provider. On the basis of Golem, a native application service is implemented that monitors the transactions of GNT tokens. To get into the register of applications and make payments, you also need coins.

 

Capitalization

The payment system is executed by means of smart-contracts, when the currency passes to the account of the provider. Golem provides exceptional opportunities for integrating application developers and increases the security and stability of the network at the same time. The shell is a decentralized mechanism, which largely determines the future of the Internet space.

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The inflow of investments to the Golem platform reached its maximum at the end of 2017, after which the stabilization of the rate of the cryptocurrency reduced the capitalization to $ 200 million. You can buy GNT coins on such large sites as Bittrex or Poloniex. Given that GNT is labeled as ERC-20, they save it in the MyEtherWallet purse or the Trezor hardware wallets.

 


The latest developments in the world of cryptography do not give a clear answer to what the future of the digital currency will be, but the services offered by the Golem network give every reason to believe that the platform is waiting for rapid development and the arrival of new investments.

Editor: Yuliya Soroka

#Golem #GNT #cryptocurrency

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