Golem

What is Golem?

Golem Token, or GLM, (formerly known as Golem Network Token or GNT) is the native utility token of the Golem Network. This is based on ERK-20 token standard.

GLM serves medium of exchange in the Golem Network.

The first token of the Golem network was GNT. The decision to migrate GNT to GLM was made because the GNT token, although based on Ethereum, was not an ERC-20 token. The migration began in November 2020 and has no deadline. This means that GNT holders will always be able to exchange their tokens for GLM at a 1:1 ratio.

The maximum limit is 1,000,000,000 GLM tokens. This could mean that as Golem tokens become scarcer, the price of GLM will rise.

There are several ways to obtain GLM tokens. Firstly, you can just buy them through exchange. To do this, be sure to first check the price of Golem and only then find pairs on exchanges. The second option is to lend your computing power to the Golem Network where other users can use it for a fee.

It is important to keep in mind that it is not possible to obtain GLM coins through mining.

You can see the price of Golem in more detail in the chart above.

What are the main features of the Golem?

Golem is a decentralized supercomputer functioning as a distributed cloud created from digital resources around the world. Simply put, it provides users with massive computing power from the comfort of their home. Most importantly, it is capable of performing complex calculations such as CGI rendering or machine learning.

It serves as an alternative to centralized cloud computing solutions.

There are 3 roles in Golem: requesters, providers and developers.

Requesters borrow computing power from providers. Depending on the computing task, requesters must first set the price they are willing to pay for the required computing power.

Providers lend your free digital resources such as GPU or CPU. By doing this, they provide computing power to those who need it. In return, providers receive GMT tokens. This means that Golem serves as a source of passive income.

Providers can set a minimum and maximum price for renting their computing power. Additionally, there are no restrictions on who can become a provider. Whether you have a warehouse of supercomputers, a simple laptop, or an entire data center, you can join the Golem network and start making money.

On the other side, Developers can run and monetize their software on Golem.

In addition to the ability to lend and borrow computing power, Golem also provides JavaScript, Python and Rust APIs as well as the runtime environment. Moreover, it ensures that users are on the right track by providing exclusive tutorials and educational resources supported by the community.

The Golem Network roadmap includes 4 project stages: Copper Golem, Clay Golem, Stone Golem and Iron Golem.

Be sure to check Golem’s price and other stats in the chart above if you’re considering making a purchase.

Who designed the Golem?

The Golem crypto project has been launched Golem Factory in April 2018.

Golem Factory itself was founded by Julian Zawistowski, Aleksandra Skrzypczak, Andrzej Regulski and Piotr Janiuk in 2016.

However, it was first presented at DevCon 0 in late 2014. Initial Coin Offering (ICO) was launched at the end of 2016. During this time, the project managed to collect about 820,000 ETH tokens in the form of investments.

Its core team consists of the board, management and consultants. Most of them are located in Poland.

Council members Among them are Julian Zawistovsky, Pascal Schmid, Natalia Lorenz and Thomas Linder.

Board members includes Pascal Schmid, who has taken on the role of CEO, and Natalia Lorenz.

Advisors Joanna Rutkowska and Andrzej Regulski.