The Golem Project is best described as blockchain-based supercomputer that’s spread out all over the world. It calls itself the “Airbnb for computers,” because users rent out their processing power that they aren’t using – which contributes to the whole supercomputer’s infrastructure. In exchange for renting out their unused digital property, they get rewarded with Golem Network Token (GNT).
Golem (GNT) has ambitious plans
It’s not only basement PCs that are powering this giant ecosystem – it can also facilitate the integration of massive data centers. There are developers all over the world contributing toward making the system better – and it can already perform a lot of powerful and useful computing tasks.
The first release of the software, called Brass, and it is currently live. Golem Brass facilitates CGI rendering. As the project itself describes it:
Brass Golem enables CGI artists to process even the most compute-intensive Blender and LuxRenderer scenes orders of magnitude faster than their local machines and much cheaper than commercial render farms. Later in 2018 we are planning to add GPU support as well as integrations with some mainstream commercial rendering software.
After that, the team working on this project says that there will be future releases that will bring serious improvements to the protocol. They are partnering up with businesses and exploring machine learning, scientific computing, business analytics and microservices and decentralized applications (dApps).
An update finally came, but fans are ready for the beta version
Yesterday, the Golem Project announced – via their Medium page – that the next major update to the protocol is now here: Alpha2 0.11.0.
— golem (@golemproject) January 24, 2018
This new release will add an uPnP support, GNTW migration, as well as a “a modern-style Windows installer” – all upgrades to the alpha version. But, as it quickly became apparent on Twitter, Golem (GNT) investors are tired of waiting around for the beta release:
Twitter user @highbit_ added that “these were the people who claimed they’d deliver Brass in six months from ICO. It’s been 15 months and counting, so pardon me for my irritation.”
The price of Golem (GNT) has been sliding downward
Sure, it’s a global supercomputer that has the potential to do amazing things – but this pace is a little on the low side when there are other altcoins popping up with new, innovative updates pretty much daily.
With sluggish updates that are behind a schedule that the Golem Project had originally imagined, there hasn’t been much to get excited about when it comes to this coin’s price either.
At the time of writing, the GNT price is sitting at $0.57 – a 7.6% drop over the last 24 hours. Compared to one week ago, this coin has seen its price decline by 21.5%. In the first two weeks of January, this cryptocurrency passed the $1.00 mark more than once.
GNT holders aren’t too happy about that, and the new protocol release announcement yesterday certainly wasn’t a boon to Golem’s price.
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.