Golem (GLM) - a decentralized computing network, based on the Ethereum smart contract, which ensures the execution of operations within the system. This coin allows users to exchange computing power in a peer-to-peer environment.
Contents:
- What is Golem (GLM)?
- What is the uniqueness of the platform?
- Cryptocurrency of the project and its purchase
What is Golem (GLM)?
Golem is characterized by open source and uses the computing power of any user's PC, whether it's a whole children's center or a regular computer. With Golem it is possible to perform multiple operations. For example, the system is effective even when launching websites or processing images. The developers call Golem not quite an ordinary digital coin, as it has a unique idea. GNT or Golem Network Token is required to pay for computing on the network and is the currency that governs our market.
Golem tools include:
| 1 | Golem SDK which includes the Requestors and Providers tutorials. |
| 2 | Runtimes (e.g. Wasm, VM, SGX stack). |
| 3 | Python, JavaScript and Rust API. |
| 4 | Awesome Golem, a community curated list of Golem resources, links, projects, tools and apps. |
As the requester, you bid on the amount of GNT you are willing to pay to complete your task. As a Supplier, you earn GNT by calculating tasks for Requesters. You can set minimum and maximum price thresholds in the settings.
What is the uniqueness of the platform?
The GNT project is presented by the developers as a peer-to-peer, P2P network. It is a decentralized system, created to handle various computing operations. Any user who owns a computer - ordinary or super powerful - can participate in the execution of such transactions
Features of the Golem crypto project:
| Safety | Maximum security for solving problems through the use of virtual computers. |
| Network | The use of a peer-to-peer network, which guarantees high scalability and decentralization of the system. |
| Nodes | Reputation node system. |
| Tasks | Distribution of tasks into certain types for their most efficient execution. |
The essence of the project - to use the free capacity of computer equipment to process transactions and generate additional profit. For example, computers in office networks work even at night, while the capabilities of any of them are used minimally, and electricity consumption is quite high. And if the software is partially used to perform computing tasks, it will be possible not only to cover these costs, but also to reach additional profit.
Cryptocurrency of the project and its purchase
On November 11, 2016, the sale of GNT tokens began and ended. The token sale reached its maximum limit in 29 minutes with the creation and distribution of 1 billion GNT tokens. 82% of the GNT went to the participants in the token sale, 12% - to the operating company and 6% - to the Golem founders. On November 19, 2020, the GNT token began migrating to the new GLM token, where GNT holders were able to burn their old GNT tokens and receive the new GLM 1:1.
Although the Golem cryptographic project differs significantly from popular digital coins, its demand among users is gradually growing. Golem has the following positive qualities:
- Versatility. You can use the Golem platform to handle a variety of tasks.
- Uninterrupted system operation. It is provided through decentralized project management. Golem is characterized by fast work without any failures within the system.
- Unlimited scalability. Any number of computers can simultaneously participate in the processing of computational tasks.
- High level of security. When processing any operations, they remain unrelated to the main system and are ,using "virtual" computers. In addition, users who develop computing applications can use them to integrate into the Golem project.
- Simultaneous work in two directions. Golem functions as both an IaaS and PaaS platform and as an infrastructure.
Accordingly, after the launch of the tokens, they will help to pay for the work of capacity providers and software authors. It is also assumed that tokens can be used as collateral in the future.
GLM is available for trading on a growing number of exchanges, with currently available crypto and stablecoin pairs. The best cryptocurrency exchanges to trade Golem shares currently are:
- Binance
- OKX
- Huobi Global
- KuCoin
- Crypto.com
Binance offers the most pairs as of October 2020, while Huobi Global also offers Bitcoin (BTC), Ethereum (ETH) and Tether (USDT) options.