Golem has seen a 2.14% price decline over the past 24 hours of trading. The ERC-20 cryptocurrency is currently exchanging hands at $0.1892 and, like the majority of the cryptocurrency market, has suffered a steep 23.84% price drop over the past 7 trading days.
Golem was created in 2016 by Polish founder Julian Zawitowski, and aims to become a decentralized supercomputer. The supercomputer would use the technology of combined computing power, rented out from users across the entire Golem network. Users of the network can then come and rent this spare computing power for CPU-hungry tasks such as CGI rendering or scientific calculations.
This renting of spare CPU power and resources has led many to label Golem as the AirBnb of computing power.
The Golem team has released their proof-of-concept product known as Golem Brass onto the Ethereum mainnet in April. Golem Brass allows users to rent out computing power from the Golem network in order to assist with rendering tasks on the…