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Bitcoin Global News (BGN)

April 10 ,2018 -- ADVFN Crypto NewsWire -- One of the most ambitious projects for the blockchain space released its first public version. The basic idea behind the platform is to allow individuals to share their computer’s working capacity while they aren’t using it. In this way, having your computer connected to the network can generate a small income.

Golem expands on the Bitcoin/Blockchain concept, where instead of exchanging just the small data of a ledger of transactions for money, the participants are exchanging huge amounts of computing power.

The grander benefits of establishing this network are in the ability to compile computing power that would not have been accessible previously. This will make current work towards Machine learning and Artificial Intelligence become more efficient. Ideally, Universities without access to supercomputers, will have access to those tools via a network like this in the future.

"We definitely need to move in the direction of machine learning. This is something that is suited to Golem pretty well," says CTO Piotr Janiuk.

Golem Brass Beta

In it’s current state, things are more basic. The project was originally launched as an ICO on November 13, 2016. It has drawn a good deal of criticism for the time it has taken to move towards anything like a working service. However, it seems patients in this particular space will be rewarded and is definitely deserved.

With this initial release, Golem is using the CGI platform Blender to exchange CPU power – meaning that someone who wants more efficient computing capacity working with Blender can pay someone for the extra CPU power through Golem.

The technology Golem is developing is more complicated than standard software development in two major ways. It is being programmed on top of the Ethereum network – a computer that is always running and always connected to the Internet. Because of this, and the nature of payments exchanged for the computing power, they are “playing with other people’s money” in an indirect way.

The current focus is a seamless network that is secure from hacks. Once this is firmly established, the group will begin applying work towards more versatility.

By: BGN Editorial Staff