Rogue Money and the Underground Economy by John C. Edmunds

Author:John C. Edmunds
Language: eng
Format: epub
Publisher: ABC-CLIO

Golem

Golem (GNT) is one of a number of tokens that allow users to buy access to underutilized computers around the world. Golem tokens are used to buy time on supercomputers so that people who want to analyze enormous amounts of data do not have to own their own supercomputer. Using GNT to buy time on a supercomputer costs less than using fiat currency.

People buy golem using a popular type of cybercurrency known as ether. Golem’s software code is open-sourced; the code is published, and programmers are invited to make improvements to it. The computational power that Golem harnesses is crowd-sourced, meaning that people with powerful computers can join the Golem community and leave it at will.

The Golem network’s architecture is particularly suited for computational tasks that can be subdivided and done in parallel, with different computers working on different aspects of the tasks. Golem also has found applications in machine learning and artificial intelligence. This potential for new activities is facilitated by an application registry open to software developers.

It is important for users to keep in mind that data security is not a feature of Golem; it is a public cloud computing service. Under Golem, data sets are sent to different computers to be worked on, and those computers may not be secure. A new product, Golem Unlimited, addresses the security issue for companies with idle computing power. Golem Unlimited allows them to form trusted groups that operate privately.

John C. Edmunds

Further Reading

“What Is Golem (GNT)?” Coinswitch.co. n.d. https://coinswitch.co/info/golem/what-is-golem

“Whitepaper in Four Minutes—Golem.” Infourminutes.co. n.d. https://infourminutes.co/whitepaper/golem

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