Golem’s network works as a peer-to-peer network built on the Ethereum blockchain that has no central server. Users can rent unused GPU/CPU and get paid in GNT-Golem’s token.
Last year was a great year for Golem and its team. They announced the opening of the GitHub public repository in August 2017, and later in October, the team developed the Brass Golem rendering application which was the first use-case known. In November, Golem made partnerships with Friend Software Corporation which really improved they user base.
Golem already has some great partnerships and this is one of the reasons why it’s expected to reach the stage of an early-stage venture. Many companies want to start building on top of Golem’s infrastructure which is great news for the price of Golem. They are, however, experience some technological challenges and because of this, they will need a little longer time and resources to finish them. Despite the challenges, Golem has a lot of reasons to stay optimistic.
Golem is capable of solving difficult mathematical problems and processing complex computations by using the computing power of its user computers, machines as well as data centers. On the Golem protocol, each user is incentivized to lease their computing power to individuals and businesses in need of massive computing power to carry out the intensive tasks such as CGI rendering. Golem also lets users share and monetize their computing power. It is popular for its role in computing-processing power that enables machines globally to interact with each other. That means that all other excess computing power will be saved and later used by scientist and training for algorithms and much more.
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“We will never accept won or renminbi or francs or cryptocurrency, or any other currency. You have to relieve your debts to the state of Ohio with U.S. dollars. That’s what we’re currently accepting. This platform just allows for that exchange, basically before that debt is settled to the state of Ohio.”Sprague pointed out that the treasury is reviewing how the program can be expanded and they are looking into the potential risks that can come up by using this method of tax payments. Ohio is working hard to attract blockchain-related businesses to the state. The state has already passed a law allowing businesses to pay taxes in crypto but the State Treasurer Josh Mandel stated that the legislation ‘’pants a flag’’ in Ohio regarding cryptocurrency adoption. Two days ago, the County Auditors’ Association of Ohio announced the gathering of a group that will work to explore the benefits of blockchain in real estate and transfer of land titles.
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