For PCs running the Golem Network, Thorg is a free Ethereum mining application.
A million machines are mining Ethereum at any given time, contributing to network security and validating transactions in exchange for the possibility to earn a small amount of ETH. However, in order to make mining lucrative, the majority of individuals require expensive hardware with a lot of computer power.
Going forward, the Golem Network, an Ethereum-based platform for sharing spare computing power, will offer a small solution for individuals who want to contribute to the network without investing a lot of time and resources.
Thorg, a free Ethereum mining application for PCs, was released today by the company. Despite the fact that it was designed for gamers and other users with strong home computers, such as miners, Golem promises that the program “will support more machine types in the near future.”
However, while there are various ways to passively mine Ethereum on a home computer, leveraging the Golem Network can assist people in rapidly scaling up their resources without having to fill their entire room with computer hardware.
Since it is not a traditional miner or mining scheme, but rather a novel approach to idle devices and their computational capacity, Golem Network CEO Piotr Janiuk told Decrypt in an email that the company has no direct competition at this time.
It is comparable to Filecoin, a decentralized network that allows users to sell and buy computer storage using the FIL token, which is used to represent the FIL token. Instead of facilitating the purchase and sale of storage space, Golem facilitates the purchase and sale of computing power that would otherwise go underutilized.
In exchange for renting out your spare power, if you’re a gamer by night and have extra capacity to contribute by day, you can be reimbursed in the Golem token (GLM).
That should be acceptable to individuals who aren’t obsessed with receiving ETH and are simply looking for a low-intensity technique to generate some cryptocurrency revenue.
“Thorg enhances the Golem platform as this mining use-case opens up new and exciting ways of creating a healthy and efficient market by providing additional tools for optimizing passive income.” said Janiuk in a press statement.
Golem’s market capitalization has more than doubled in the last year, and it is now just shy of $500 million in value. Its token is valued at approximately $0.50.
Thorg makes use of Polygon, a layer-2 scaling solution, to make payments more convenient, avoiding the hefty fees connected with the Ethereum blockchain. Thorg users, on the other hand, receive a completely different asset in exchange for their efforts, resulting in an indirect method of mining ETH.
Furthermore, as noted on the product page, if you wish to transfer your GLM from Polygon to Ethereum, you will be required to pay fees in Polygon’s native MATIC token in order to cover the costs of doing so.