Supercomputer available to everyone - Golem

in #ico6 years ago

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What is the problem?

Nowadays almost everyone has their own device which is able to execute complicated mathematical calculations. We are used to call them computers. However, computing power is not fairly distributed between users. Some people need more than their machine is able to offer them and the others do not utilize full potential of their device.

Obviously, there are already existing solutions on the market, but they are provided by big, centralized companies such as Amazon, Microsoft or Google. As they are controlling whole market, they are able to impose high margins, so it is not favorable for the user. Additionally, such situation on the market is not healthy, because it inhibits development.

As you can see, an ideal situation would be if users with excess of computing power could share it (obviously for Tokens) with those who have a deficiency of it.

Golem comes with an appropriate solution

Golem is a decentralized, open source Supercomputer, which aims to create a worldwide market of computing power. Golem connects devices in a peer-to-peer (P2P) network and divides users between three fractions:

  • Requestors - people who need more computing power to execute demanding tasks. They will be able to rent it from other users in much more affordable price than in case of centralized companies.
  • Providers - people who have unused computing power and want to share it with others. They will get paid in Golem Network Token (GNT).
  • Software developers - people who want to deploy and monetize their software. Golem may become a great distribution network, where users will be able to buy a license and run the software.

These three groups are connected in one ecosystem, which is an independent and decentralized solution.

Use case (already working) - CGI rendering

CGI (Computer Generated Images) rendering may be very demanding process for a single computer. Fortunately, using Golem users can distribute processing of any Blender and LuxRenderer scene over the Golem Network, which will increase the speed of rendering process 12 times (According to this video). Additionally, such method is much cheaper than a traditional cloud-based services.

Use case (future) - AI machine learning

Everyone has heard about impressive possibilities offered by AI. However, AI also need a space to execute machine learning which demands a lot of computing power. Golem has perfect possibilities to solve these problems, so the team is currently developing appropriate tools which will significantly increase a speed of this process in the future.

Token analysis

Golem Network Token (GNT) is already well known in the crypto sphere and tradable on major cryptocurrency exchanges, such as: Huobi, Upbit, Binance, Bittrex, Poloniex and many more. GNT has some unique features and performs important functions in the Golem network, which provides correlation between the market value of the token and the size of the Golem network:

  • GNT supply has been fixed during a crowdfunding campaign. This means that no GNT is going to be created in the future. During the campaign, sending 1 ETH to the Golem wallet generated 1,000 GNT. The point was to collect at least 150,000 ETH, but finally, the maximum predicted amount of ETH (820,000) was reached. The distribution of created tokens is as follows:
    ○ Total - 1 000 000 000 (100%)
    ○ Crowdfunding participants - 820 000 000 (82%)
    ○ Golem team - 60 000 000 (6%)
    ○ Golem Factory GmbH - 120 000 000 (12%)

  • GNT is the core on which the Golem's network is based. Every transaction between requestors and providers for delegated computing power is handled by GNT. Also developers who provided their software get paid in GNT. In the future, Transaction Framework (learn more in Whitepaper, page 9) will enable adding new features to the token. For instance, it may be required to store deposits in GNT.

  • Users are able to set any ask/bid price for computing power in the Golem network, therefore it will be resistant to the market fluctuations in the GNT price.

As the number of GNT is constant and the Golem network is expanding, the demand for the tokens will be increasing. Due to that, the overall success of the Golem network means a long-run appreciation of the GNT.

Roadmap

The roadmap is divided into four milestones:

  • Brass Golem (current stage) is focused on the easiest tasks such as CGI rendering, as they want to build a solid proof of concept and training ground for future development of the Golem. This is the first decentralised compute market.
  • Clay Golem will provide the Task API and the Application Registry, which will make Golem multi-purpose and accessible to developers.
  • Stone Golem will generally improve the security and stability. It will also enhance functionalities offered in the previous milestones and create environment for Golem to work as a Software as a Service (SaaS) model.
  • Iron Golem will be the final stage of Golem development. It will provide developers with tools that will significantly improve the process of creating applications. Iron Golem will be deeply tested, scalable, secure and stable network.

Stats

oie_EKZgN9I7pcBU.png

  • Holders - 99,496

  • Top 20 addresses own 62.74% of the supply
    addressees.png
    Source

  • Token activity is at a relatively high level.
    oie_QiuTJIBWCZRl.png

Team

Julian Zawistowski (CEO) and Andrzej Regulski (COO) are founders of the imapp, Polish consulting company focused on economics and policy analysis for government. After a few years of working there, they have decided to assemble a team and start a new project - Golem. They succeed in establishing cooperation with a few outstanding developers - in this way an experienced and unique team was formed. Many of them are also engaged in other blockchain projects, which allow them to gain experience from other fields. Here you can find the whole team.

In 2017, Golem has announced an interesting partnership with Friend Software Corporation.

Competitors

There are a few other platforms that are trying to solve the problem:

  • iExec is decentralized cloud computing platform, which is quite similar to Golem. However, iExec is rather trying to solve a problem with computing power for the Ethereum DApps, so they want to work in a different field.
  • Bonic, SETI@home, Folding@home etc. - these are projects which for you can delegate unused computing power to perform some scientific purposes connected with mathematics, linguistics, medicine, molecular biology, climatology, environmental science, and astrophysics. Such services are based on voluntary support of the initiative.

Revenue

Funds raised in the ICO - $8,600,000 (According to Forbes)

Current Marketcap of the GNT - $141,946,760 (According to CoinMarketCap)
market cap.png

Project weaknesses

Supercomputers processors are usually placed next to each other. Due to that, they are able to exchange information and communicate very quickly. In Golem, this process has to be performed by much slower internet link, which limits the possibilities. However, supercomputers usually performs tasks which do not demand so frequent information exchange, so in such situation, Golem will be as fast as traditional solution.

I am also curious how effective will be the use of many weak devices in order to perform tasks designed for supercomputers. I suppose that power ratio is not directly proportional.

Golem team has a problem with meeting the deadlines. They provided very optimistic dates of releasing next milestones in the Whitepaper, but they have delays. I came across with opinions of the users who were really dissatisfied and sold their tokens.

Summary

Golem is definitely one of the most interesting project in the crypto sphere. Decentralized supercomputer always aroused a lot of emotions, as it provides powerful possibilities of development various fields of technology, especially AI. The best proof of necessity of Golem is fact, that during the crowdfunding campaign it raised maximum predicted amount of ETH (worth $8.6M) in just 29 minutes! Golem creates situation which is characterized as “textbook perfect competition” (in contrast to big cloud services providers). Due to that, price of the computing power is relatively low and over time more and more investors will be attracted to GNT. (data According to Forbes)

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hi @neavvy

I've read some time ago that Golem is being used to oursource processing power needed to do rendering in movies / cartoons.

have you heard about it?

Yours
Piotr

Hi @crypto.piotr

I haven't heard about that before, but it seems to be really great news! Golem has a big potential (the best proof is its position among 50 biggest cryptocurrencies) and I am really excited about it, especially as it is a Polish project.

As I wrote in the article:

Supercomputers processors are usually placed next to each other. Due to that, they are able to exchange information and communicate very quickly. In Golem, this process has to be performed by much slower internet link, which limits the possibilities.

Imagine how possibilities will open up if we combines Golem with NOIA network. It would be amazing!

Thank you for your comment Piotr :)

Greetings, Jan

@neavvy

ps. I wanted to ask you a question. You mind telling me what's your view on latest HF20 introduced on steemit? Did it affect you in any way?

enjoy your weekend buddy
Yours, Piotr

I already commented on you post @crypto.piotr. Have a nice day :)

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