Golem Network has implemented an application that allows users to mine Ethereum through their laptops, but it can take a long time to earn enough money.
The decentralized computing resource exchange platform has launched its Thorg app, which allows users to mine Ethereum on Windows PCs and laptops.
The application runs in the background and, using the algorithm called Proof of Work, incorporates idle computing power into the system for calculations required for mining. Users are rewarded with GLM, Golem’s native token instead of Ethereum.
The system runs on Polygon, the second-tier aggregation infrastructure, which reduces all the high transaction fees associated with the ERC-20 GLM token. The “shares” are created through batch computing tasks that are collected and used for Ethereum mining.
Golem CEO Piotr Janiuk said that Thorg aims to increase adoption of the Golem Network by allowing users to earn passive income on their own computers.
The minimum requirements to run the application are the Windows 10 operating system and a 6 Gigabyte or higher graphics card that only high-end gaming laptops will have.
Those who think that this system will print money like mints by mining at home may have to think again. Because according to the review websites, the 6GB graphics card achieves a hash rate of about 26MH / s. According to mining calculators, the profit from mining Ethereum on a PC is around $ 0.06 per day, given the average desktop power consumption of around 600 watts. Therefore, it could take more than two weeks to earn $ 1.
However, there are many variables such as computer hardware, power consumption, and the cost of electricity. Therefore, the example presented is theoretical only and the results are subject to change.
Relative to: Nvidia RTX 3080 and 3090 cards “burn out” in Ethereum mining
In calculations; It also doesn’t take into account the cost of high-end graphics cards, which are currently extremely expensive due to demand and global chip shortages. The announcement stated that a high-end GPU is not required for all users.
“If you don’t have a high-end GPU, you can still use the Golem Network to calculate transactions and earn GLM.”
Golem’s native token was trading at $ 0.475, down 1.5 percent on the day at the time of this writing, according to CoinGecko. GLM is currently down 64 percent from its all-time high of $ 1.32 in April 2018.