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Golem
GNT

Current price
0.047901 USD

24hr change
0.47 %

24hr volume
1876888.71 USD

Market cap
46945413.98 USD

Total supply
1000000000 GNT

Circulating supply
959242000 GNT

What is Golem

The Golem (Golem Network) platform is a marketplace for computing power. On the peer-to-peer network, unused computational resources can be rented out to users wishing to perform memory-intensive tasks, who pay the provider in Golem’s cryptocurrency.

The idea is that an individual possessing, say, a high-end gaming rig can profit from allowing another to use its GPU/CPU cycles for anything from CGI rendering to training neural nets. Resources that once would have sat idle can now be monetized on the decentralized network.

Golem (GNT) is using personal computer to offer services that are currently done today by servers. The ICO started in November 2016. Users who share their computing power with the Golem network will be rewarded in Golem Network Tokens (GNT). The GNT token is a perfect example of the second – the ecosystem runs on the native Golem token, with requestors paying providers in the currency for their computing power.

Golem's aim is to use any personal computer to do jobs that are done today by servers, computing farms or supercomputers. Golem's features include a P2P network, a trading system, task definition and computation and reputation system.