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>Like mining Bitcoin except you are doing something actually useful and getting paid actual money for it A business paying USD is never going to be competitive
by welshwelsh 4y ago
>Like mining Bitcoin except you are doing something actually useful and getting paid actual money for it
A business paying USD is never going to be competitive with a decentralized crypto compute market. Better to build something just like mining BTC, except you do useful work, and are paid in a cryptocurrency you can exchange for USD. Then businesses can build on top of that to make it more user friendly.
The Golem network already lets you do this with CPU. It's way cheaper than centralized cloud computing could ever be, less than $0.003 per core per hour.
There are plans to add GPU support to Golem, but they have been on the backlog for a long time because there is a shortage of devs.
- theamk 4y agoI don't think businesses would be able to ever trust decentralized compute market. Where is the guarantee that the data/code that is sent to the network would not be intercepted and analyzed? It's much safer to sign a contract with a real organization, especially the one which has a reputation to uphold. If someone like DigitalOcean steals data from servers, they can be sued, and there will be penalties. If some decentralized miner somewhere does that? Nothing you can do. This only leaves decentralized compute to the applications where neither the data nor code does not matter. While I am sure there are applications like those (probably related to open-source or cryptocurrencies) I doubt they'll bring much money. (And don't say "homomorphic encryption" -- the overhead there is so high it is much cheaper to just get a centralized server)