Golem Network rolls out an app to let users mine ETH on laptops

Golem Network

Golem Network, a flexible, open-source platform that seeks to offer democratized access to digital resources, has launched an app that allows anyone that owns a laptop to mine crypto. The company unveiled this news through a blog post on September 23, noting that the app is dubbed Thorg. Reportedly, Thorg runs on the Golem Network, and it lets users mine Ethereum (ETH/USD) in an easy, intuitive, and non-custodial manner.

According to the blog post, Thorg lets Windows users compute tasks to create shares. The network then uses these shares to mine ETH. While the app mines ETH, users will earn the Golem token (GLM/USD). Golem Network then makes payments through a Layer 2 Polygon payment driver. This payment driver helps minimize any high transaction fee associated with the ERC-20 GLM token.

Per Golem Network’s CEO, Piotr Janiuk, this launch is part of the project’s goal to harness more use cases. According to him, Thorg is a way for the company to show its progress in multiple technical development areas and test them before availing them to end-users and the ecosystem’s growing number of developers.

Janiuk added,

The Thorg implementation aids as well, in improving the Golem market: the mining use-case opens new ways of achieving a healthy and efficient market by providing additional tools for optimizing passive income with Golem.

Thorg’s requirements might limit the user base

The minimum requirements for running the Thorg application are a Windows 10 operating system and a graphics card that features 6GB of RAM or more. These requirements limit PCs that can handle the application to high-end gaming laptops, which are relatively expensive. It is also worth considering that a graphics card with 6GB of RAM will only produce approximately 26MH/s.

As such, the mining proceeds will be marginal after factoring in the laptop’s power consumption. Per mining calculators, mining with a PC that features a 6GB graphics card can generate a daily yield of around $0.06 (£0.044). With such returns, it would take over three months to get $6 (£4.38) from mining ETH, according to Coinwarz, an ETH mining calculator. Although the rewards depend on how powerful a graphics card is, they still can’t match someone using a mining rig.

To ensure no one feels left out, Golem Network noted that one does not necessarily need high-end GPUs to produce shares and earn GLM. The company noted that it is working on integrating CPU computations into Thorg.

While Janiuk believes this development will help expand the Golem ecosystem, GLM is bleeding after losing 4.29% over the last 24 hours to change hands at $0.4683 (£0.34), at the time of writing.

The post Golem Network rolls out an app to let users mine ETH on laptops appeared first on Invezz.

Publication date: 
09/24/2021 - 12:08

The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.