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Decentralized sharing of computing power is among the most innovative solutions that blockchain technology offers. Over the past few years, numerous projects focused on bringing together buyers and sellers of computational power over a blockchain network have emerged. This new category of the blockchain ecosystem, DePIN (decentralized physical infrastructure network), is among the fastest-growing niches in the industry. The origins of the DePIN concept, however, predate even the Ethereum (ETH) blockchain itself, the network of choice for most of these projects.
Back in late 2014, a few months before the launch of Ethereum, programmer and blockchain enthusiast Piotr Janiuk presented the initial idea behind Golem Network (GLM), a DePIN system designed to support a decentralized computing power marketplace. The pioneer of the concept, the Golem Network project, was eventually founded in 2016 and launched on Ethereum in 2018.
To date, Golem Network remains one of the foremost innovators in the DePIN sector, with the project introducing a scalable Layer 2 solution in 2021 and an artificial intelligence (AI) road map in early 2024. The concept of trading computational resources, such as GPU, CPU, memory or storage over a decentralized platform, truly emerged with the arrival of Golem Network.
Key Takeaways:
Golem Network, an Ethereum-based app, enables decentralized trading of computing resources. Conceptualized in 2014, it’s the oldest widely-known DePIN platform.
Golem’s trustless marketplace connects providers and consumers of supercomputing power, which is often used for resource-intensive tasks in AI, ML, rendering and more.
Its native token, GLM, is used primarily to facilitate the trade in computing power on Golem Network, and can be traded on Bybit as a Perpetuals contract.