This week, the Golem project shared a post published by its Research and Development (R&D) team. The post gave an update on the Brass Golem Marketplace and how it works.
The R&D team has been defining and exploring marketplace solutions for Golem. The first stage of this has been to improve the Brass Golem economy and preserve its transactional framework. This post helps define for users what this entails and better help them understand the functionality of the marketplace.
The Golem Marketplace Intro
The project created the Research and Development team back in August and the team has been developing a Golem marketplace. In the blog post, the authors have gone into detail to explain the concept.
The post explains the rules, the players and the game itself of the Golem marketplace. It puts the distinction in transaction framework, which includes; legal restrictions, regulations, technologies, platforms, and protocols, and client strategies.
As for client strategies the team says it has developed features and protocols for parties to communicate and transact. The strategy will be guided by the transaction framework since it involves; price negotiation, agreement conditions, and a counterparty choice. The strategy is however expected to often change depending on the live market.
The team admits that the information on the post is shortened and lacks details such as constraints, the relation to Concent service and its impact on the Golem protocol. What is detailed in the post is the economic model, concept, and approach to the marketplace.
The team says that the next stage is to provide an anti-sybil system. This system will improve the fairness and security of the marketplace.
According to the team, the marketplace is still under development and will be launched in the coming weeks. The team, however, acknowledges that its launch will not mark the end of its development. With the Golem network growing, there will be a need for improvements and updates to the marketplace.
The Golem Coin And Project
The Golem project is a network that allows computer users to rent out their computation power. Users who require the power to complete processes can rent out this power. Payments on the network are done using the networks native currency, GNT.
Golem is still struggling to near the $1.00 level before it attempts to reach its all-time high of $1.16. At the time of press, the coin is trading at $0.138014 having lost by 2.68% in the last 24 hours.
Basil has three years of freelance experience writing on disruptive technologies. He focuses on breaking news and education pieces; helping to spread the gospel of Blockchain. He hopes to have his own blockchain company one day; helping the world through its innovative ledger technology
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