From now on, users can also use Golem, the decentralized supercomputer, in the main network. The price of the crypto currency GNT has risen by more than 20% after the announcement.
The idea behind Golem is pretty simple. Users can provide unused CPU power to their computers, and in return they get GNT, as Golem’s own cryptocurrency is called. Alternatively, users can of course also buy computer power and have to pay for it in GNT.
The team behind Golem has now announced that Golem is now available to the general public and has put the so-called Mainnet (main network) live. However, the CPU performance so far can only be lent or borrowed to create computer-generated images and graphics. Later, however, other CPU-based work should be possible.
Then follow us on Google News!
Already in 2016 Golem collected 820,000 ETH at an ICO. The current Ethereum rate is currently worth $ 330 million. More than enough money to realize the idea of a decentralized supercomputer. Nevertheless, the project has been delayed again and again. According to the team, it was mainly because they underestimated the effort. Even now, only a first trial version of Golem has gone live, allowing only limited CPU calculations.
Another problem problem with Golem is that the Ethereum Blockchain is currently still poorly scalable. Because the whole project is based on the Ethereum Blockchain. This becomes clear in the following case of application. Someone uses the provided CPU power of 100 different users. In return, he has to pay the users in GNT, which is also easily possible. However, the transaction fees are paid in ether because GNT is an ERC 20 token. In the past, the transaction fees of Ethereum were already over 1 US dollar. If this is the case, then 100 US dollars would be charged only on transaction fees for the borrowed computing power. Especially applications like Crypto Kitties make sure that the Ethereum Blockchain reaches its capacity limits, which then affects all other applications on the Ethereum Blockchain like GNT.
The question then is whether GNT can overcome these problems in the long run at all or whether it is not easier to buy computing power from Amazon Web Services (AWS), which is definitely the simpler version at the moment.
TheBitcoinNews.com – Bitcoin News source since 2012
Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. TheBitcoinNews.com holds several Cryptocurrencies, and this information does NOT constitute investment advice or an offer to invest.
Everything on this website can be seen as Advertisment and most comes from Press Releases, TheBitcoinNews.com is is not responsible for any of the content of or from external sites and feeds. Sponsored posts are always flagged as this, guest posts, guest articles and PRs are most time but NOT always flagged as this. Expert opinions and Price predictions are not supported by us and comes up from 3th part websites.
Advertise with us : Advertise