Ranked among the top 50 currencies as the 48th-largest digital asset with over 148 million dollars in market capitalization, Golem project represents a massive ecosystem built on top of Ethereum that actually stands for a supercomputing center of the network.
Thanks to its main objective to generalize computing power and create a peer-to-peer market for sharing that computing power, Golem represents a major marketplace for any GNT user willing to share their redundant computing power, as well as those who are seeking for the unused computing resources.
That is how Golem is offering incentivized sharing, but moreover, Golem represents an active project with a proactive dev team that is not only working on improving the overall performance of the network but is also seeking ways of obtaining scalability for an improved functionality on Ethereum network that is known for currently experiencing problems with scalability.
How is Golem contributing to the blockchain space, and how crypto enthusiasts can actually earn some passive income with Golem project and GNT?
Golem: the Market Place of Computing Power
What makes Golem project stand out from the crowd in the blockchain space is the fact that Golem actually represents a peer-to-peer marketplace for sharing and receiving redundant computing power.
The marketplace works in a way that allows GNT users with excessive computing power from their laptops, tablets or computers, to share the redundant power in return for joining the rewarding system of the network and being paid for the sharing in form of GNT.
At the same time, this process describes the main purpose of Golem project, but it also provides the currency with a perfectly integrated use case, and practical use cases within the blockchain space can in many ways define a currency in a positive way.
The receivers of the excessive computing power are the ones who are paying for the access to that same power, so they are the ones incentivizing the senders of the power by renting out the power they are sharing. That is how the marketplace has a decentralized connotation, which perfectly describes Golem as a decentralized blockchain-based ecosystem.
The way Golem as a system is contributing to the overall functionality of the marketplace is by working on matching receivers with senders, all based on their specified needs and the type of task they need to complete with the computing power they are seeking.
Moreover, Golem works as a coordinator in the process, creating tasks and provides the results back to the receiver once it finds a perfect match. The receivers are then due to pay for these services in form of GNT that the senders of the computing power can then use, trade, store, or exchange for other currencies.
It is perhaps because of its extreme functionality in the world of supercomputing and power-sharing that made John McAfee predict that GNT will have a massive rebound by the end of the year, stating that GNT will go up to 5$, while it is currently being traded at the price of 0.15$ with the latest rise of 2.45% despite the fact that the market is equally divided on gainers and losers on September 29th.
Golem and the Building of the Proof of Concept
In one of their recent posts, Golem project has shared that the Unlimited team is working on creating a new Proof of Concept, also adding that the PoC which is currently being built should become available in form of a demo in the next couple of weeks.
So, why is Golem turning to building a new Proof of Concept?
In a way, Proof of Concept is able to remove disruption for the business model that Golem is using for its peer-to-peer marketplace. At the same time, the Proof of Concept is able to provide monitoring of services functioning through the system, which should eventually improve the overall functionality of the marketplace.
The strategy of adding Proof of Concept aligns with the future plans of Golem project to provide GNT users on the network who ate involved in sharing and receiving the computing power with more options for utilizing that same power.
That means that Golem is planning on broadening the range of use cases for the marketplace, focusing on introducing AI, machine learning, scientific computing, and much more.
Alongside, Golem is cooperating with Status and Raiden to make Web 3.0, the decentralized internet, a reality for Ethereum network, while they are also going through scalability solutions, considering Plasma as one of the viable options for adopting a high level of scalability.