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.
Steps involved in carrying out a task through the Golem Network include:
- The requestor visits the Golem Network.
- They submit a task on the network.
- The task is broadcasted on the network with the demand and necessary information such as the specs of the required resources.
- The providers publish an offer for their computational resources.
- The demand and the published offer are matched to check if they agree with each other.
- The requestors meet these potential providers and the terms of business are negotiated between the requestor and provider.
- Once an agreement is reached on the business terms, input files get transferred to the provider node.
- The provider starts the task.
- Once the task is complete, the output files get transferred from the provider to the requestor.
- A payment note is issued, so the providers get rewarded for their services.
- Payment is done through Golem Token (GNT).
Golem Network in Blockchain
Golem Network is a blockchain platform that allows users to buy and sell computational power for various purposes like artificial intelligence, cryptocurrency mining, etc.