Golem’s initial coin offering raised $8.6 million dollars in just 29 minutes, making it the third largest ICO behind Ethereum. After last night’s 100% run, the momentum has carried its market cap to rank 11th on CoinMarketCap at a whopping $32 million. Golem now sits ahead of Factom and Steem, poised to break the top 10, later this month.

Golem Super Computer

Fundamentally Golem is a decentralized supercomputer, with ability to connect through the cloud computers to computers around the world. Through Golem, users will be able to buy and sell processing power on the open market for purposes such as scientific research, graphics rendering, data analysis, cryptocurrency mining among other things.

Decentralized Computing Market

“If you have a powerful gaming computer that you aren’t using all day, or a PC that you leave at the office each night, you can rent your unused computing power to help someone else who may need it for rendering graphics or developing complex applications,” says Julian Zawistowski CEO and Founder of Golem. Experts claim, “It’s just the beginning. The long-term prospects are promising because of the big problem and big market they are taking on. Short term they will be launching their first product around April/May so I expect the price to be much higher than it is now leading up to that time.”