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From her new project: https://golem.network/ https://golem.network/ >> Ethereum-based transaction system Is this going to be fast enough for their use cases?

pjc50 8y ago
Sounds like FileCoin for CPU rental. Could be legit, especially as they're not creating their own token for this purpose. Nonetheless, by using Ethereum they're still committing to burning a lot of electricity - would be interesting to know if it's more or less power than used in the actual computation they're selling.
- Karunamon 8y ago
  Ether is planning on moving to proof-of-stake rather than proof-of-work some time in 2019, which should help with the power consumption. https://www.mangoresearch.co/ethereum-roadmap-update/ https://www.mangoresearch.co/ethereum-roadmap-update/
  - linuxdude314 8y ago
    GNT is the ERC-20 token they use. Golem had an ICO last year. It would be really challenging to figure out how much power is used by a particular ERC-20 token given that mining is performed on the whole chain, not a token bybtoken basis.
- ddtaylor 8y ago
  It's worth mentioning Ethereum has been planning to switch to proof-of-stake (PoS) mining instead fo proof-of-work (Pow) for a long while now. They even have a "time bomb" built into their PoW algorithm they have to "reset" every once in a while because these original plans were more aggressive. I'm not necessarily in favor of PoS, but it does "solve" the electricity concerns you are raising. Also insert here long winded explanation of how much power is used by existing banking infrastructure.
- wycs 8y ago
  >Could be legit, especially as they're not creating their own token for this purpose. Maybe I am confusing them for another project, but I am pretty sure they do have a token model.
  - sbr464 8y ago
    They mention it's based on ethereum, not currently their own token.
    - jki275 8y ago
      They have an ERC-20 token called GNT, it's a smart contract that runs on the eth network.
hackermailman 8y ago
Edit, wrong parent reply, but I hope their market isn't entirely memecoin based, should let resources decide on the payments they want to take Golem uses Intel SGX (specifically a modified Graphene-SGX libraryOS) for trusted execution if anybody is interested [1] https://software.intel.com/sgx https://software.intel.com/sgx
- ddtaylor 8y ago
  However, it's worth noting that SGX was affected by Foreshadow.

pjc50 8y ago

Sounds like FileCoin for CPU rental. Could be legit, especially as they're not creating their own token for this purpose. Nonetheless, by using Ethereum they're still committing to burning a lot of electricity - would be interesting to know if it's more or less power than used in the actual computation they're selling.

Karunamon 8y ago
Ether is planning on moving to proof-of-stake rather than proof-of-work some time in 2019, which should help with the power consumption. https://www.mangoresearch.co/ethereum-roadmap-update/ https://www.mangoresearch.co/ethereum-roadmap-update/
- linuxdude314 8y ago
  GNT is the ERC-20 token they use. Golem had an ICO last year. It would be really challenging to figure out how much power is used by a particular ERC-20 token given that mining is performed on the whole chain, not a token bybtoken basis.
ddtaylor 8y ago
It's worth mentioning Ethereum has been planning to switch to proof-of-stake (PoS) mining instead fo proof-of-work (Pow) for a long while now. They even have a "time bomb" built into their PoW algorithm they have to "reset" every once in a while because these original plans were more aggressive. I'm not necessarily in favor of PoS, but it does "solve" the electricity concerns you are raising. Also insert here long winded explanation of how much power is used by existing banking infrastructure.
wycs 8y ago
>Could be legit, especially as they're not creating their own token for this purpose. Maybe I am confusing them for another project, but I am pretty sure they do have a token model.
- sbr464 8y ago
  They mention it's based on ethereum, not currently their own token.
  - jki275 8y ago
    They have an ERC-20 token called GNT, it's a smart contract that runs on the eth network.

hackermailman 8y ago

Edit, wrong parent reply, but I hope their market isn't entirely memecoin based, should let resources decide on the payments they want to take Golem uses Intel SGX (specifically a modified Graphene-SGX libraryOS) for trusted execution if anybody is interested [1] https://software.intel.com/sgx https://software.intel.com/sgx

ddtaylor 8y ago
However, it's worth noting that SGX was affected by Foreshadow.