The Golem Project Looks Promising For Ethereum

The Golem project is one of the first Ethereum ICO projects, which has now officially launched. Just this week, an announcement was issued on their website revealing that the Brass Beta version of Golem had gone live. Golem became known as the ‘Airbnb for Computers’, but within the first 29 minutes, it has racked up 820,000 Ether, which made analysts question the future of the project. The statement said;

“We’ve come a long way. From being one of the first crowdfunded projects, way past the challenges we had to face while navigating the uncharted territory that is building Golem, the time has come to take the big step: mainnet launch is here.”

The aim of Golem is to connect computers in a peer-to-peer network, which enables both application owners and individual users to rent the resources of other users’ machines. The project states;

“Golem is a p2p network where users are equally privileged. People who seek to compute tasks broadcast their offers in the network, while those parties that have  computer power, scan the offers and try to connect with the requestors of choice. Golem’s transaction system matches providers and requestors, taking into account prices, reputations and their machines’ performance. Resources, i.e. files needed for computation are sent to the provider’s machine. After the computation is completed, the provider’s app sends back results to the requestor’s app.”

The Golem project has identified the diverse risks that it is now open to; however, they have addressed this, saying;

“Golem is a dApp, and as any other, it required testing through a contained ‘laboratory’. But, in order to progress, we need to get out of this comfort zone, and make sure the elements that we have worked hard, and continue to build, are responsive and working well on a decentralised setting.”