Wouldn’t it be nice to make some extra income just by browsing social media? Well, there’s good news for Ethereum investors: Golem goes live today. Golem is a peer-to-peer market that lets users put their excess CPU powers to use for other people. It’s been in the works for three years now, and the Golem team announced the news this morning via their Medium.
The project launched its GNT utility token back in 2016 and raised almost $340 million in just 20 minutes. Golem was one of the earliest ethereum applications.
Due to the amount of money it raised and nearly three-year turnaround time, the project has received an ample amount of criticism. It seems that the Golem team severely underestimated how difficult it would be to achieve their goal of a “worldwide supercomputer.” CEO and founder of Golem, Julian Zawistowski, told a reporter at CoinDesk:
“This is typical for software development in general, and blockchain in particular, we underestimate the complexity of what we want to do. You always underestimate how difficult it is, and this was obviously the case with us.”
Golem Goes Live Today
However, this main net launch is an important step in proving its worth and underlying architecture. Presently, Golem enables computers to rent unused CPU power for creating computer-generated imagery (CGI) via Blender. Blender is an open-sourced 3d computer graphics software that is used for creating interactive 3D applications, video games, animated films, visual effects, art, and 3D printed models. Golem connects to Blender directly and swaps the computer power for GNT.
The main net release is set to test the economic assumptions of the network and to gain user feedback on issues and usability. The team behind the project hope to eventually create a dedicated plugin for Blender so that there won’t be an extra step for using Golem’s service through the application.
While the process has been slow in many investors eyes, the Golem team wants to make sure their product is as “bulletproof” as possible. Once moved into the production stage on Ethereum, the development team has stressed that they are continuously making sure there are no holes in the code, as it is a risk to someone else’s money.
This is just the first big step for Golem and while they have taken nearly 14 software application turns in the past, this is the step in the right directions. A lofty goal like this takes time.
GNT is currently ranked #59 in top cryptocurrencies by market cap. At press time, GNT is trading for $0.247 a coin, up 20.84%, in 24 hours. A rise in price because Golem goes live today, no doubt. You can trade for GNT on many of the major exchanges such as Upbit, Bittrex, Huobi, Poloniex, Ethfiniex, Liqui, OKEx, and Koinex.
Featured Image: Canva