There are millions of machines mining Ethereum at any given time, contributing to network security and validating transactions in exchange for the chance to earn some ETH. However, in order to make mining profitable, most people require expensive hardware with a large amount of computing power.
Golem Network, an Ethereum-based platform for sharing unused computing power, has a small solution for those who want to contribute to the network but don’t want to invest heavily.
Thorg, a free Ethereum mining app for PCs, was announced today. Though it was designed for gamers and other people with powerful home computers, such as miners, Golem promises that the app “will support more machine types in the near future.”
While there are other ways to passively mine ETH on a home computer, using the Golem Network can help people quickly scale up their resources without taking up too much space.
Golem is similar to Filecoin, a decentralized network that allows users to sell and buy computer storage using the FIL token. Golem, on the other hand, facilitates the buying and selling of computing power that would otherwise go unused. If you’re a gamer by night and have extra power to share by day, you can rent it out and be compensated in the Golem token, GLM.
Thorg facilitates payments with Polygon, a layer-2 scaling solution, avoiding the high fees associated with Ethereum. However, this results in an indirect method of mining ETH because Thorg users receive a completely different asset in exchange for their troubles. Furthermore, as stated on the product page, if you want to move that GLM from Polygon to Ethereum, you’ll have to pay fees in Polygon’s native MATIC token to cover the cost.
Still, for those who aren’t dead set on receiving ETH and simply want a low-intensity way to earn some crypto money, this should suffice. “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 Golem Network CEO Piotr Janiuk in a press release.
The market capitalization of Golem has more than quadrupled in the last year and is now just shy of $500 million. Its token is worth around $0.50.