Golem is a decentralized computer power leasing platform built on the Ethereum platform. Through the Golem platform, any user can become both a provider and a renter of computing power. Whether its an idle home computer or several large data centers, users can join the Golem network. The Ethereum-based transaction system is applied to the Golem platform for settling the earnings of computing power providers and the fees that computing power users need to pay.

On November 19, 2020, GNT was renamed to GLM.

Project Highlights

The main features of Golem include: a P2P computing power network, a reputation rating system, a computing power trading system, and task execution. Its also expected that there would be a payment system, which is designed based on Ethereum. Matching computing power requesters with computing power suppliers, "nano-payments" are executed through Ethereum smart contracts.

Use Cases

Golem plans to support multiple programming languages, enabling developers to integrate the protocol with various applications. As long as computational tasks can be distributed across the Golem network, computing any task will not be a challenge. This opens up exciting opportunities for many industries, from science to business, art, and even the stock market. If developers continue to lead the project, machine learning (artificial intelligence) could benefit significantly from this concept.

How It Works

Golem is a decentralized global computing power marketplace combined with flexible development tools, helping developers release software and earn money, thereby transforming how computing tasks are organized and executed. By implementing decentralized microservices and asynchronous task execution, complex applications such as CGI rendering, scientific computing, and machine learning (artificial intelligence) can become more accessible to everyone by significantly lowering computational costs. Golem connects computers through a P2P network, allowing application owners and individual users (computing "requestors") to lease computing power (from "providers"). Computing resources will come from both individuals and professional computing providers, capable of performing computationally intensive tasks in conjunction with a series of dedicated software solutions listed on the "Golem Application Registry Market." The "Application Registry Market" itself is a detailed, self-running, competitive application marketplace.

By integrating dedicated software, any interested third party can create and deploy software on top of Golem and publish it through the Application Registry Market. Golem has a core built-in feature—a payment transfer system based on Ethereum, enabling direct payments between computing power buyers (requestors), sellers (providers), and software developers. Within the payment framework, developers can extend and customize payment methods to generate unique revenue streams. The market mechanism implemented by Golem requires support from three groups of users: computing resource sellers ("providers"), task creators who upload computational tasks to the network ("requestors"), and software developers. These three groups form Golems unique interdependent ecosystem.