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Golem

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1 GLM = 0.2952 USD
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What Is Golem?

Golem is a decentralized marketplace for computing power, operating on a blockchain-based software system. Founded by the Golem Factory in 2016, with its network officially launching in 2018. Golem aims to democratize access to digital resources, fostering a global peer-to-peer supercomputer that resides in the cloud. This initiative has garnered a massive user base across continents, enhancing both its value and utility.

Golem facilitates the seamless buying and selling of computational power for a myriad of applications including artificial intelligence, cryptocurrency mining, and computer-generated image rendering. By leveraging blockchain technology, Golem nurtures an ecosystem where users can trade computational resources with autonomy over pricing and availability, thereby revolutionizing the traditional cloud computing sector.

Resources

Whitepaper: https://assets.website-files.com/60005e3965a10f31d245af87/60352707e6dd742743c75764_Golemwhitepaper.pdf

Official Website: https://www.golem.network/

How Does Golem Work?

Golem operates as a decentralized supercomputer, amalgamating the computational power of its users to foster more ambitious software solutions in the market. Built on the Ethereum blockchain, Golem utilizes the expansive Dapp and DeFi ecosystem to enhance user experience, maintaining network validity and security. This network connects buyers and sellers in a manner that allows them to offer computations at a reduced rate compared to conventional platforms.

The Golem network is adept at handling tasks that necessitate substantial processing power, such as rendering CGI elements. It employs a fraction of the computational power supplied by sellers in the peer-to-peer market to accomplish tasks almost instantaneously, bypassing the expensive and time-consuming processes associated with traditional cloud computing service providers.

Furthermore, Golem is equipped with developer support, encouraging creators to innovate and develop immersive Dapps. Its open-source nature and cutting-edge architecture foster efficiency and security, promoting creativity within the community. This flexible protocol stands as a viable alternative to centralized cloud computing providers, offering transparency, accessibility, and protection against data breaches.

What Is GNL Token?

The GLM token, initially introduced as the GNT token, serves as the utility token of the Golem network. Users can use GLM tokens to rent computing power or execute smart contracts on the Golem network. Moreover, individuals can earn GLM tokens by sharing their unused computational power with others, fostering a vibrant market for those seeking to sell or rent computer power. GLM has 1,000,000,000 tokens in total supply. All of them are in circulation.

Golem's Impact on Finance

Golem's inception marks a significant shift in the financial landscape, particularly in the decentralized finance (DeFi) sector. By offering a cost-effective avenue to secure returns on unused computer power, Golem has carved a niche in the market, providing users with an opportunity to profit from their computational resources. Moreover, Golem's censorship-resistant approach offers an unrestricted, proxy-free network, mitigating the prevalent issues of content censorship in the market.

However, Golem faces stiff competition in the distributed computing sector, with several projects offering similar solutions. To secure a substantial market share, Golem needs to continually innovate and develop products that surpass those of its competitors. Despite the challenges, Golem's unique value propositions and its commitment to fostering a micro-economy powered by the Golem cryptocurrency have garnered immense attention, especially among software developers.

What Determines Golem's Price?

In the dynamic world of cryptocurrencies, the Golem token price is influenced by a myriad of factors that resonate with both its technical prowess and market sentiments. The Golem (GLM) price today mirrors the decentralized architecture that empowers individuals and businesses to share unused computational resources, fostering a global peer-to-peer supercomputer. This unique proposition has been a cornerstone in determining the Golem cryptocurrency price, offering a cost-effective alternative to mainstream cloud computing services and attracting a substantial user base. Moreover, the GLM token price is closely linked to developments within the Ethereum ecosystem since Golem capitalizes on Ethereum's extensive Dapp and DeFi infrastructure to enhance user experience and network security.

As we delve deeper into the Golem crypto price forecast, it is imperative to consider the role of the GLM token, an asset adhering to the Ethereum ERC-20 standard. The Golem (GLM) price prediction is often dictated by the utility and demand for GLM tokens, which facilitate the renting of computing power or the execution of smart contracts on the Golem network. Furthermore, GLM price analysis must incorporate the increasing adoption rates since its inception in 2016 by the Golem Factory, a Swiss entity led by prominent figures such as Aleksandra Skrzypczak and Julian Zawistowski. The Golem price history reveals a trajectory of growth, spurred by its dedication to creating a censorship-resistant, transparent, and accessible platform, attracting a substantial number of developers and content creators.

Taking a broader view of the Golem GLM price in USD, it becomes clear that the Golem network's supercomputing capabilities have distinguished it in the competitive domain of decentralized cloud computing platforms. The Golem token price chart reflects the network's capacity to offer unprecedented computational power at a fraction of the cost, presenting itself as a practical option for researchers and developers pursuing ambitious software solutions. As we monitor the prospects of the Golem cryptocurrency future, the unique value propositions, vibrant community, and robust developer support appear to be central in shaping the real-time developments in the Golem (GLM) price live. Therefore, for those seeking to stay updated on the current Golem token price, it is wise to keep a close eye on the community developments and the broader Ethereum ecosystem, as they are poised to be significant indicators in the unfolding GLM cryptocurrency news and shifts in the Golem price graph.

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coin.24Hcoin.7dayscoin.30dayscoin.90dayscalculator.common.one_yearcoin_market.all_time
-5.00%-7.73%-11.16%-3.74%+33.57%+1861.57%

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24h$0.2914$0.3105
7d$0.2914$0.3240
30d$0.2914$0.3573
90d$0.2262$0.4112
1y$0.1949$0.7707
coin_market.all_time$0.008797(2016-12-12, coin_market.years_ago )$1.25(2018-01-08, coin_market.years_ago )

coin.market_info

coin_market.cap
$295,241,952.98
-5.00%
coin_market.fully_cap
$295,241,952.98
-5.00%
coin_market.volume_24h
$8,184,863.48
+6.66%
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coin_market.circula_rate
+100.00%
coin_market.volume_cap
0.0277
coin_market.circula_supply
1,000,000,000 GLM
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1,000,000,000 GLM
1,000,000,000 GLM
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4
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32.57K(#589)
coin_price.social_contributors(24h)
323
-12%
coin_price.social_mentions(24h)
56(#449)
-2%
coin_price.social_dominance(24h)
0.01%
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8
+700%
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88%
coin_price.twitter_neutral
13%
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0%
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0
coin_price.reddit_ posts(24h)
0
-100%
coin_price.reddit_comments(24h)
0
0%

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Consensys writes to future US president: Clear regulation to promote crypto innovation
Consensys writes to future US president: Clear regulation to promote crypto innovation

Regardless of the final election outcome, hindering encryption innovation is not good for the United States.

BlockBeats2024-10-24 06:47
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Who is still staking BTC crazily?
Odaily2024-10-10 08:12

faq.name

What is use case of Golem?

Golem is a decentralized computing network on Ethereum, created in 2016. It taps into idle computer power worldwide, speeding up complex tasks. It uses Golem Network Tokens (GLM) for transactions. Golem operates without central control, letting users become providers (offering power) or requesters (needing power). GLM payments go to providers, set through auctions. In 2020, Golem transitioned from GNT to GLM for network improvement. It functions via task subdivision and parallel processing, secured by Ethereum smart contracts. Developers can use the Golem SDK to create various applications for the network, from simple tasks to complex projects.

Is Golem a good investment?

Golem is a pioneering blockchain concept that leverages global idle computing power for efficient and speedy tasks. Built on Ethereum, it benefits from Ethereum's robust infrastructure and smart contracts for secure automation. Golem caters to both individuals and businesses, offering passive income to individuals and cost-effective computing solutions for companies. Its strong community and the potential for further growth in the emerging field of decentralized computing power make it an intriguing investment prospect.

What is Golem price prediction?

The price of GLM, Golem's native token, is influenced by several key factors. Demand for Golem's services, network development and improvements, and the general sentiment in the crypto market all play a significant role in determining GLM's price. Increased demand for Golem's computing power services, ongoing network enhancements, and positive market sentiment can drive up the price of GLM.

How are the token distibuted?

Golem employs the GLM token as its internal currency, with a total supply of 1 billion tokens. These tokens were distributed in a crowdsale in 2016, with 82% going to sale participants, 12% to the Golem Factory, and 6% to the project's founders. GLM tokens are used to purchase and sell computing power within the Golem network. Providers of computing power earn GLM tokens as rewards, while users in need of computing power use GLM tokens for payment.

Can you stake Golem?

In June 2023, Golem currently does not have staking functionality available. Users can acquire GLM tokens by contributing computing power to the network. It is possible that staking features will be explored in the future to bolster network security and decentralization.

Is Golem safe?

Golem utilizes a reputation system to safeguard its network against malicious actors. Upon task completion, users are rated, contributing to the reputation of Providers and Requestors, which helps identify and deter malicious nodes. Currently, Golem relies on Ethereum's Proof of Work (PoW) consensus mechanism for network security. However, it is poised to transition to the Proof of Stake (PoS) protocol once the Ethereum 2.0 upgrade is finalized, ensuring enhanced security and efficiency.

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BountyHunter-Q
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insight1274/1300
12712.40%
price_sidebar.roi
price_sidebar.total_pnl $263,875.45
PHOENXCORP
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insight111/750
217.65%
price_sidebar.roi
price_sidebar.total_pnl $938,815.34

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