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What is Golem?
Golem is going create the first decentralized global market for computing power combined with flexible tools for developers to distribute and monetize their software.
Golem enables users/applications (requestors) to rent out cycles of other users’ (providers) machines. Any user ranging from a single PC owner to a large data center can contribute resources to Golem network.
An Ethereum-based transaction system clears payments between providers, requestors and software developers.
P2p architecture guarantees decentralization and scalability. Golem supports peer discovery and communication with a specific node. Every connection is encrypted and signed to guarantee security and authentication.
Golem includes a multi-agent transaction system for matching users requesting computing power with its providers.
Users define computing tasks easily using Golem's Task Definition Framework and libraries for high-level programming languages. Golem then automatically distributes each task over the network to computing nodes.
Due to security reasons, task computations in Golem nodes take place inside virtual machines and will be isolated from the host environment. Providers are able to decide how many CPU cores, and how much RAM and disk space they wish to share with other Golem users
A reputation system enforces desired behavior of nodes in a decentralized environment, without relying on any supervising institution. This allows nodes to attribute a reputation rank to their peers. A node's rank is lowered in case of inappropriate behavior and is increased after successful computation.
APPLICATION REGISTRY AND TRANSACTION FRAMEWORK
Deployment and distribution of new software integration relies on Golem’s Application Registry. Developers are free to chose the most suitable remuneration mechanism for their application as long as it is in line with the general rules defined in Golem’s Transaction Framework.
Golem Token, GNT
The Golem Network Token (GNT) account is created during the crowdfunding. GNT is a crucial element of Golem network and will be designed to ensure flexibility and control over future evolution of the project. Following the first release version of Golem, GNT will be attributed a variety of functions in the Golem network.
Payments from requestors to providers for resource usage, and remuneration for software developers is going to be exclusively conducted in GNT.
Once the Application Registry and Transaction Framework are implemented, GNT will also be required for other interactions with Golem, such as submitting deposits by providers and software developers or participation in the process of software validation and certification (as described in the Application Registry section). The general conditions for using GNT will be set in the Transaction Framework, but specific forms of these interactions will be possible to define within each software integration.
Golem crowdfunding was conducted on Nov 11th, 2016. 1,000,000,000 tokens (GNT) were generated, 820,000 ETH were raised during the crowdsale.