Golem

Golem is basically decentralized computing power marketplace. It is a dencentralised super computer that leverages on the computing power of all the machines on the Golem network.
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What is Golem?

Golem is basically decentralized computing power marketplace. It is a dencentralised super computer that leverages on the computing power of all the machines on the Golem network.

User on the Golem network could either lend out the computer’s spare resources or rent additional computational power from other computers on the network.

                        

How does Golem work?

To request for computational power, the user has to complete the task templates that Golem provides. There are currently two types of tasks available on the network – Blender and Luxrender.

After a task has been requested, it will be added to the task manager and the network will receive information in relation to the task.

As the party lending out computational power, you will receive all the broadcasted task offers and you can select the ones you want to perform. Once decided, you need to send a price together with the computational power information to the party requesting for it. The requesting party will need to review the terms and decide if he or she wants to accept the offer.

Once an agreement has been reached, the service provider will begin the computation task and send the result back to the requesting party when done. Everything is done via IPFS.

At this point the task manager will pass the information to different nodes in the network to verify the result. If everything is in order, funds will be moved from the requesting party to the service provider via an Ethereum smart contract.

GNT, the native token of Golem, is used to submit deposits, pay for service and participation in the application registry.

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