The Architecture of the Task Template and Reputation System

What is Golem Network?

Golem is software that incentivizes users to operate a market where computational resources can be bought and sold in exchange for cryptocurrency....

History of Golem Network

In 2016, Andrzej Regulski, Piotr Janiuk, Aleksandra Skrzypczak, and Julain Zawistowski co-founded Golem Factory. The Golem network was created with the intention of offering lots of computational power for challenging projects without requiring users to interact with a centralized organization. When the concept was proposed in 2016, the team sold eighty percent of the native token’s available supply.  During this auction, they generated about $8.6 million worth of ETH tokens.  A layer 2 solution based on Ethereum, the new transaction architecture from Golem.  In 2018, Golem Factory launched the Golem network. Therefore, in November 2020, users have to convert their GNT tokens to the new ERC-20 GLM tokens....

What Makes Golem Unique?

Speeds up the purchase of resources: By dividing task requests from Requestors to Providers into smaller jobs, Golem finds a way to speed up the purchase and use of processing resources. Cost-effective: This technology automates the decentralization of cloud computing services and increases cost-effectiveness by breaking down work into smaller chunks. Provides users power over the P2P market: By connecting Requestors and Providers according to the job template, Golem also provides users power over the P2P market.  Anyone can join: Anyone can join Golem as a service provider and earn GLM, unlike traditional cloud computing service providers where a central authority sells the resources and keeps the money from customers.  Enable users to sell processing power: The concept encourages users to sell their processing power in contrast to traditional cloud computing while enabling Requestors to get the resources they need for less money....

Application Registry and Transaction Framework

The application registry and transaction architecture are two characteristics that make the Golem Network special among other features. The platform is made secure, open, and effective thanks to the application registry and transaction framework. As a result, even those who make the requests have limited technical understanding and can start a task. Developers can select payment choices for their applications, including off-chain payment channels and payout schemes, using the advanced functionality known as the transaction framework. Golem Network (GLM) intends to expand its network’s capabilities in order to facilitate developer application submissions and to broaden the range of assignments available to candidates....

The Working Principle of Golem

The transaction initiates when a requestor demands computational resources from a provider through the task template. Users can access a library of task templates from the Golem network when submitting a task request. If an existing template doesn’t meet their needs, they can also design a special task template. Afterward, the network divides the task into many subtasks based on the computer resources supplied by the suppliers....

The Architecture of the Task Template and Reputation System

1. Task Template...

How Does Golem Network Power P2P Computing?

Golem is an open-source platform that empowers software developers to be innovative regardless of their location, background, or affiliation and has the adaptability to accommodate a big audience....

Golem’s Use Cases

The Golem Network is the use-case for the Golem cryptocurrency (GNT). Because GNT is the preferred coin in the Golem Network, its value is tied to its use there....

How Many Golem (GLM) Coins Are There in Circulation?

Whether or not the requestor releases the payment on time affects their rank. Similarly to this, when a requestor’s task contains some errors, it lowers their rank....

How is the Golem Network Secured?

To protect itself from malevolent users, the Golem network has a reputation system....

Golem Consensus

The Golem Network doesn’t rely on miners or staking because Golem currencies were pre-minted, which implies that all Golem coins that should ever exist have already been generated....