The technology blockchain is synonymous with cryptocurrency, but this technology has extended its tentacles into other sectors of the economy due to its decentralized distribution ledger system. This feature allows for a peer-to-peer interactive activity that eliminates any third party. One sector that this decentralized technology will very useful is in the distributed cloud computing.
As much of the world’s dependency on computers increases, it has become essential to creating a computable system that can solve the main problems that plague big computing organization. Distributed cloud computing is a system or application which can be utilised to solved an individual gigantic problem by breaking the problem down to several tasks.Each task is then computed by harnessing the computing power of individual computers in the distributed system. The presence of this network offered an opportunity for computers from all around the globe to communicate and accomplish a common goal by utilising their own local memory.
Here are top blockchain based distributed computing projects:
GRIDCOIN is based on the BOINC platform which was used for decoding transmitted signals from seti. For those who contribute computing power to the research done on this project, they will earn the GRC token. Users get paid based on the degree of research carried out on the platform, which led to the consensus algorithm "proof of research." The research ranges from medical drug discovery, studying space signals, and protein structures.
- Ticker symbol: GRC
- Token type: SPARC
- Website: http://gridcoin.us
- Whitepaper: https://gridcoin.us/assets/img/whitepaper.pdf
The primary aim of this blockchain project is to create a global computing marketplace which will be decentralized. They are geared towards offering an equal playing ground for all who are interested in using their vacant storage space to trade, and they will be paid in GNT. One of it futuristic goal is creating the next generation of the web called “web 3.0.”
It is a health-based system of computing which leverages the unused processing space in the computer of their volunteers to fold protein. Foldingcoin is in partnership with Stanford to curtail the misfolding of protein which causes cancer and Alzheimer. This project is bent on assisting medical researchers who are searching for the likely cause of these medical conditions by providing current data.
SONM wants to remove the large requirement of hash-based crypto mining by making the task much more easier. On the SONM platform you either function as miners and buyers. A miner uses their devices (either a desktop or mobile phone)to make computational values. The buyers purchase this computed values. Their services are geared towards machine learning, video rendering, streaming, and scientific research.
Elastic operates as a decentralized computing space. Its primary purpose is to provide for it users a computational space instead of running to cloud computing vendors who run them high and dry. Users who have free processing power can also rent it out in exchange for incentives. This will help them save the money spent on electricity bills.
- Ticker symbol: XEL
- Token type: elastic token
- Websites: https://www.elastic.pw/
- Whitepaper: https://github.com/elastic-coin/whitepaper
ENIGMA wants to change the system by which crypto data are being managed in the financial industry, removing every monopolized system of trade. With the use of its newly developed protocol, catalyst; which functions as a playground for quants, developers and traders can have a live trade experience of the cryptocurrency market using working strategy.
- Ticker symbol: ENG
- Token type: ENG
- Website: http://enigma.co
- Whitepaper: https://s3.amazonaws.com/enigmaco-website/uploads/pdf/enigma_full.pdf
iEXEC is a cloud computing space built on the ethereum Blockchain technology. They have three stakeholders in their field; the developer, investors, and provider. The provider rents out the free space on their computer, for the developer to use in running their application. The investor uses their token for profit-making either by holding or trading the token.