As the global economy increases its dependence on technology, the demand for improved processing capability continues to grow. If you wish to complete everyday operations, a single computer is more than up to the task. However, for far more complex undertakings such as predictive modeling, calculations, or deep research, much greater computational power is required.
Unfortunately, for many in need of a supercomputer with sufficient power to solve these problems, the predominant installation model involves a massive level of investment in storage infrastructure, manufacturing costs ($100-300 million on average for design and assembly), and energy fees ($5-8 million annual average).
Welcome to the World of Blockchain…
The team at Elastic is attempting to break down these industry barriers by introducing the world’s first decentralized supercomputer (the price chart below shows a bullish break in the converging triangle).
More specifically, they are building a marketplace where computer owners can rent out their unused processing power to those in need via a trustless blockchain (UI screenshot below).
Within the network, buyers create a customizable model that needs solving using the Elastic SDK. Once configured, the job is broadcasted to the network with a reward attached in its native currency XEL, to entice providers to contribute power. After the task has been completed, the blockchain automatically verifies work from each participant for correctness, ensuring no malicious behavior has occurred. This is a defining feature of Elastic as many other supercomputing projects including Golem, consider verification to be the buyer’s responsibility. In contrast, Elastic has designed their protocol to eliminate any question of doubt about payments and validation by decentralizing the decision-making process through the blockchain rather than the individual. Not only does each node verify the work done by itself, a Super Node confirms the nodes decision, and Guard Nodes then verify the Super Nodes decision.
A Look Ahead…
By utilizing blockchain technology, Elastic aims to improve super-computer efficiency by integrating computational power across networks, creating cheaper and faster supercomputing. Future applications for the project range from more efficient Proof-of-Work mining to Artificial Intelligence calculations. Be sure to research and keep an eye out for Elastic in the near future, the developers have been working hard and with a solid community backing, the sky is the limit.
Disclaimer: This is not investment advice, it is merely an opinion for informational purposes. Investing is a risky matter, people should do their own research and we are not liable for potential losses.