How Golem(GNT) could be used to mine ethereum and how powerful it could be?
Have you ever imagined what Golem could be used for? As a two-sided market, Golem allows users to either:
Sell unused computational resources (CPU or GPU time) to others, or
Buy unused computational resources (CPU or GPU time) from others.
So it could be easily used to mine other coins and it might be cheaper than mining pools or buying graphic cards. What do you think about this idea? Is it doable? This golem project seems to be service of the future and is a bit scary. It could easily be used by hackers but it also solves a problems of many people. I think golem is a future and even if it will be not as cheap it would be used for current problems just because it is fast, easy and so powerful. Comment to share your ideas of using golem service.
just now had that thought :D any updates?
I don't really see the point in using the golem network to mine more cryptocurrencies. I wouldn't think it would be significantly more efficient than anything that already exists. And what you are suggesting is basically just cloud mining. So I would think people would want to use the world's most powerful supercomputer on something that they can only do with a supercomputer. What that might be, I'm not entirely sure.
This is just new way of how cloud mining could work with no need of setting up mining supercomputers and spending a lot of money on repairing and servicing it just using computers of other users i think it could rly work if golem gets popular. Maybe it would be even cheaper to reach for example 100MH/s and you don't need any contract you just mine whenever you want it is a good alternative