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In a paper published in the academic journal Chem, the researchers detail how this “counterintuitive marriage” between crypto and origins of life research allowed them to pull off a far bigger version of the network without needing access to supercomputing resources.
Golem’s network operates on a peer-to-peer basis, where individuals can rent out their idle computing power in exchange for $GLM tokens, the native cryptocurrency of the Golem network.
The researchers simulated 11 billion reactions comprising 20,000 CPU cores on Golem. They paid out 82,000 $GLM to the computing power providers which translated to roughly $38,000 at the time.
At $GLM’s current price, the tokens would be worth roughly $17,000. In the article, the research team estimates that running the simulation with Web2 cloud providers would have cost $80,000.
Crowdfunding-like approaches to academic research are one of crypto’s burgeoning use cases.
Coinbase CEO Brian Armstrong has been selling off 2% of his COIN equity to fund ResearchHub. The “GitHub for scientists” funds research by doing things like paying for peer reviews. Its native ResearchCoin appreciated by 1000% in late 2023.
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Academic professionals in underfunded research areas have also increasingly been turning to DAOs as an easier stream of funding.