Golem, a decentralized global market for computing power, has announced that its Golem Network Token (GNT) crowdsale will begin on November 11, 2016.
Acting as an “Airbnb for computers”, Golem allows people to rent their unused computing power and be paid in cryptocurrency. It aims to substantially lower the price of computations to make applications such as CGI rendering, scientific calculation, and machine learning more accessible.
“If you have a powerful gaming computer that you aren’t using all day, or a PC that you leave at the office each night, you can rent your unused computing power to help someone else who may need it for rendering graphics or developing complex applications,” said Julian Zawistowski, CEO and founder of Golem. “We’re excited to involve the community through our crowdsale to advance the Golem network and build the first worldwide supercomputer.”
The Golem Network Token is designed to ensure flexibility and control over the future evolution of the project. Following the first release version of Golem, GNT will be given a variety of functions in the network. Payments between requesters and providers of computing resource usage and remuneration for software developers will be conducted exclusively 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.