Golem
| Last updated | 6 hours ago |
| Price per GNT in USD | $ 0.22175860919618 |
| Price per GNT in Bitcoin | 0 |
| Volume over the last 24 hours | $ 12,009,990 |
| Market cap in USD | $ 221,758,609 |
| Change in % over the last hour | -0.60614922 |
| Change in % over the last 24 hours | -5.27943771 |
| Change in % over the last 7 days | -4.13693057 |
GNT specifications
| Name | Golem |
| Symbol | GNT |
| Minable | No |
| Algorithm | N/A |
| Prooftype | N/A |
Coin description
Golem is a decentralized computing power marketplace that allows users to rent out their unused CPU or GPU resources to others in need. It operates on the Ethereum blockchain and uses the Golem Network Token (GLM) for transactions. The project aims to create a global supercomputer by pooling resources from participants around the world, effectively democratizing access to computational power.
Golem Decentralized Computing Use Cases
The platform is particularly useful for tasks like rendering CGI graphics, machine learning computations, and scientific simulations, where large amounts of processing power are required. By decentralizing this resource, Golem offers an alternative to centralized cloud services, potentially reducing costs and increasing accessibility for smaller projects. For example, independent filmmakers or researchers with limited budgets can leverage Golem's network to complete complex tasks without investing in expensive hardware.
Golem's decentralized nature also enhances reliability. Since the network relies on a distributed system of nodes, there is no single point of failure, making it more resilient to disruptions. Additionally, users retain full control over their resources, deciding when and how much of their computing power to contribute. This flexibility, combined with the potential for passive income, has attracted a growing community of contributors and users to the platform. Keywords like Golem network token and decentralized supercomputer are commonly associated with this project.