By Josiah Wilmoth
One of Ethereum’s most hotly-anticipated applications has finally received a beta release nearly a year and a half after its token generation event (TGE).
Golem, which raised 820,000 ETH (worth $340 million today) in just 20 minutes during its Nov. 2016 token sale, has officially unveiled the first live implementation of its peer-to-peer computing power marketplace.
“The road to mainnet for the Golem team has been a long and eventful one, there are many issues and challenges to tackle, but we are on the right path. We have also undergone a myriad of unforeseen circumstances in these two/three years,” Golem said in a statement.
“Yet the team kept their eye on the ball at all times, understanding that the project, and the complexity that building a marketplace for computations on a decentralized scenario implies, is a monumental goal that can contribute to the shared economy model and the blockchain ecosystem alike,” the company added.
Though still a long way from fulfilling its mission to create a global supercomputer, Golem Brass Beta gives users the first taste of that vision. In the current release, users can use the Golem’s utility token (GNT) to rent unused CPU power and use it to render computer-generated imagery (CGI) through Blender, an open-source animation client.
By distributing rendering tasks over the Golem network, users will be able to achieve a finished product more quickly than when rendering them on their own machines. Once the system’s kinks have been ironed out, users might even feel comfortable outsourcing all such tasks to the network, eliminating the need for them to purchase expensive hardware.
In the meantime, users who have expensive hardware can rent it out to the Golem network when they are not using it for their own projects, enabling them to recoup part of the cost of their investment.
But while its current implementation is restricted to CGI rendering, future Golem releases should add support for additional use cases, including the ability for developers to host machine learning stacks on the network.
Strategic Coin is a leading research and advisory firm for companies planning to integrate blockchain capabilities into their business model via utility token launches. Our customer research reports provide qualitative and quantitative analysis of token use cases and platform value. With the Strategic Coin Advantage network of partners, we offer customized services for the pre-launch, full-launch, and post-launch phases of Token Generation Events (TGEs).
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