About Golem – Distributed Supercomputer of the internet. Using Ethereum.
One of my favorite blockchain projects is Golem.
They are building an always on, a rentable supercomputer with massively parallel computing infrastructure ran from home computers and laptops from all around the world.
The ecosystems revolve around the token riding on the Ethereum blockchain called golem tokens. It’s a bit complex to envision for most people today, but the next version of the internet (web3) will be completely decentralized where you won’t need large corporate servers from Google and Microsoft and Amazon.
Data – including hard drive space and computer cycles will be “Sharded” into small bits of data that are all encrypted packets that require a cryptographic key to knowing how to reassemble them. The private key has in it a ‘table of contents’ that can pull them back like a giant magnet pulling pieces of metal from all over the room. (Many youtube videos on sharding can be found if you are a brainiac and want to learn more).
This is how you will be able to store patient records anywhere in the world in public view, and they will remain completely private. Each bit of data is individually wrapped in military grade Christmas wrapping paper of encryption. Now you (the patient) will have access to your records from all doctors and hospitals, clinics pharmacies – and finally, you will own your patient records without asking for permission from 50 different places you’ve visited in your life.
Golem works the same way but with spare computer cycles. Taking unused CPU cycles and adding them to a project when needed, so no giant servers will be required. This will happen “on the fly” when they need it. This is revolutionary and it can only happen because of the invention of the blockchain. This was totally science fiction even five years ago.
I love finding the paradigm changing technologies. Being able to buy the tokens that make this mini-economy work for only pennies right now makes me feel a little guilty. I’m keeping a dirty little secret from my friends that don’t have the time to learn more about blockchain technology, and I’m tired of trying to explain it. – Let alone all of the very cool technologies that are spawning from it.
This is just one of dozens of paradigm changing technologies spawning from Ethereum. More mind-blowing posts to come on this discussion board. (And my classroom video series posts).
You can purchase golem tokens at poloniex, shapeshift and other smaller exchanges. Never leave digital assets on any exchange. Golem is an ERC20 – Ethereum based token and you cannot transfer it to just any ethereum address. You must have a Ledger Nano S hardware wallet to store it off-exchange. Maybe other hardware wallets will follow but if you don’t know what you are doing – don’t start here. This could end up being a 100 bagger or more if it works out. But that’s just my thoughts, not a prediction or advice.
Wow – no sooner had I finished buying 1/2 of what I decided my speculative GNT position would be then pow…..impressive for now. Just about doubled in a short amount of time.
I did a little more internet research on in after reading what you wrote, decided to buy a little, but it took me a while to figure out how buying some (and storing on my new nano ledger s) worked (gotta trade crypto for crypto on Polinex). ETH popping too. I've decided to buy and ride out the ups and downs, because I'm really bad at trading, but its been fun so far…
In the name of science and finding good new business models in the next paradigm…
I'm auctioning off a peak at my next move. ICOs are really competitive and I don't want more competition that might make me miss one I really like. I think I've earned enough street cred by now since I was encouraging eth purchases at less than a dollar.
So here's my experimental new business model:
I will auction off my next ICO move. I'll give one of you a peak at what I'm doing next. I spend a lot of time researching these and although I won't give financial advice I will explain to the highest donator- what my next move will be. The donations received will be put toward the ICO so I put my money where my mouth is. Want to watch?
Top donation wins:
Send me a PM with your name and the amount you donated so I know with whom I shall reveal my secrets. Be prepared to send a small test amount to prove you are you when asked. Donation Amounts must be in by midnight Eastern time tomorrow Monday, May 1 Eastern Time. Let's see how much this is worth.