Golem is a distributed computing network based on an Ethereum smart-contract payment system. It allow its users to buy or sell computational power from their peers, offering a competitive alternative to traditional centralized cloud-based platforms like Google Cloud Platform and Microsoft Azure. This decentralized solution can be used for pretty much anything, from stock market simulations, to protein folding simulation, to CGI rendering, and even cryptocurrency mining
Anyone can join the network as a buyer or seller, being able to perform any of the roles as the situation requires, making Golem a prosumer market. Sellers can monetize their idle computational power which creates a passive source of income, and buyers can perform computational tasks that are too demanding for their hardware easily and for a fair price.
The Golem network will function much like an exchange for computing power, in which buyers and sellers can create and take order for tasks, allowing the market to set a fair price for the computing power. Buyers define a task using Golem’s Task Definition Framework and libraries for high-level programming languages and submit the tasks which will then be split into subtasks and performed by the seller’s host machines. The payment system that will