Can Golem solve the high bitcoin mining fees?
GOLEM IS THE NEW WAY THE INTERNET WILL WORK.!
That is a big statement, but it could be. It´s a network of computers that share there computing power, just like internet is a network of servers today. Biggest difference, it´s more decentrilized. Creating one big server that can not be shut down. Just like the idea of internet was from the beginning.
On this network you can rent out computing power that you are not using and get paid. Or you can rent computing power if you need more.
Can this power be used to mine cryptocoins to a lower cost of mining today? People can rent power to mine there coins when needed or rent out power to miners and get paid. This could potentially lower the mining fees and also spread out the mining to many small miners again like the beginning of bitcoin.
I believe it has the potential to not only be the new way internet works but also the new way mining cryptos works. I am loking forward to follow the development of Golem, its a very interesting concept. If you don´t know about it then i recommend that you look into it. Give me your thoughts in the comments below.
Surely golem will have its own problems having to pay for gas?
Besides, why would you pay for computation that you can effectively get for free through BOINC?
Not sure golem use gas, it is the one using golem to use the power that pay the gas. I don´t have the knowlige about BOINC but I checked there webpage. Looks like it is just me lending out computer power to them for free, can I use there computing power for free without having the hardware myself?
Really interesting concept, no doubt about that.
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