Project of Decentralized Supercomputer Starts Crowdsale


Published on 10 Nov. 2016
Golem

Decentralized platform Golem, which plans to buy a machine time of PCs of ordinary users and sell it to scientific research institutes, technology centers, laboratories – to all institutions that require global calculating powers, starts selling tokens GNT (Golem Network Token) as soon as tomorrow, November, 11.

So What Is Golem?

Developers themselves say the following about their creation:

Golem is a supercomputer. Precisely, a huge global (and potentially interplanetary) network of everything – from personal portable computers to whole data processing centers. It is extremely powerful, totally decentralized, and with 100% open source code available to all users.  

Golem plans to buy the time of computer work from ordinary users, offering them to earn money “when they sleep”. For that, specific tokens GNT were designed, which are one of the most important elements of the decentralized network. Owning such computing power, Golem will sell it for scientific calculations, data analysis, and for crypto-currency mining.

Decentralized supercomputer will be based on Ethereum platform, and it is inherently a smart-contract which had to be approved today, on the 10th of November. However, of this writing, there was still no approval at dapps.ethercasts.

Crowdsale Conditions

They are described in detail on the blog of Golem CEO and founder Julian Zawistowski:

- Maximum sum after reaching which the crowdsale will be stopped - 820,000 ETH

- Minimal sum needed - 150,000 ETH

- One can purchase 1000 GNT tokens for 1 ETH

- 18% of tokens will be transferred to the project fund (12% to Golem Factory GmbH, 6% to the development team)

- After the end of crowdfunding new tokens won’t be created

- Users will receive tokens after the successful end of crowdfunding

- The tokens purchased will be blocked during 6 months after the end of crowdfunding

Perspectives

According to Julian Zawistowski’s words, they have created their project with the aim to combine the calculating powers of users:

We are glad that with the help of crowdsale we are able to engage the community into Golem promotion and build the world’s first supercomputer.

So if the project appears to be successful, then the joining of users’ machines into the network to fulfill certain tasks can become a mainstream. A similar project was recently released by the creators of MicroMining app, which offers its users reward for using their PCs for crypto-currency mining.

 

More news

Prague will host the largest conference devoted to cryptocurrencies and blockchain


On May 19, the capital of the Czech Republic will host Blockchain & Bitcoin Conference Prague – the event dedicated to the development of cryptocurrencies and blockchain. Guests will meet supporters of a decentralized economy, successful blockchain developers

24 Apr. 2017

Facebook Account Helps to Receive the New Crypto-Currency For Free


Tokenization becomes a mainstream. This fact can hardly be denied, since the number of crypto-currencies approaches a thousand. That is why experienced users can rarely be surprised by the new conception - cryptocurrencies just duplicate one another, often differing by the name only.

10 Apr. 2017

Valery Vavilov, CEO of the BitFury Group to report at Blockchain & Bitcoin Conference


On April 19, the annual Moscow-based Blockchain & Bitcoin Conference will feature a presentation of the legendary blockchain entrepreneur, founder of BitFury Group, Valery Vavilov. He will focus on blockchain as a new technological revolution.

10 Apr. 2017