Golem encourages people to run a marketplace where computing resources can be purchased and traded for bitcoin. Golem, one of the first Ethereum-based initiatives, is envisioned as a type of supercomputer that can link buyers and sellers for a variety of calculations, including CGI rendering, artificial intelligence, and cryptocurrency mining, among others.
The Golem Project, directed by Golem Factory, was presented on April 28th, 2016. On April 10, 2018, the network became live on the mainnet. The Golem Network is a decentralized compute network that provides on-demand access to redundant computing capacity to those who need it. It provides a peer-to-peer network where users may trade computation on an equal footing, breaking down complex jobs into smaller subtasks in the network. There are no central authorities in Golem and no user is more or less significant.
GNT, or Golem Network Token, is required to pay for network calculations and is the money that fuels our marketplace. It is based on Ethereum and adheres to the ERC20 token standard. GNT may be purchased and traded in exchange for fiat money or other digital currencies. As a Requestor, you place a bid for how much GNT you are prepared to pay to perform your work. As a Provider, you earn GNT by completing activities for Requestors. In your settings, you may define your pricing minimums and maximums.
What is Golem [GLM]?
Golem is the world's first completely decentralized supercomputer, paving the way for a worldwide market in computing power. Golem, when combined with customizable tools to assist developers in securely sharing and monetizing their applications, completely alters the way compute jobs are structured and done.
Golem is poised to become a major building component for future Internet service providers and software development by enabling decentralized microservices and asynchronous job execution. Complex systems such as CGI rendering, scientific calculation, and machine learning become more available to everyone as the cost of calculations falls dramatically.
Golem is a peer-to-peer network that allows application owners and individual users ("requestors") to lease resources from other users' ("providers") computers. These resources can be utilized to finish activities that need varying amounts of computing time and capability. These resources are now provided by centralized cloud providers, who are limited by restricted networks, proprietary payment methods, and hard-coded provisioning procedures. An Ethereum-based transaction system, which allows direct payments between requestors, suppliers, and software developers, is also included in Golem's built-in feature set.
Who Are the Founders of Golem [GLM]?
In the year 2016 Julian Zawistowski, Andrzej Regulski, Piotr Janiuk, Aleksandra Skrzypczak founded Golem Factory in Switzerland. The concept for Golem Network was initially introduced in November 2014 at DevCon 0. The decentralized platform aims to be the world's first proxy-free, censorship-resistant environment for computer-intensive applications. The team worked diligently to build the Golem Network after unveiling the concept at DevCon 0, initiating a public crowdfunding event on November 11, 2016.
In 2019, the team recognized that they required a whole new architecture to develop a more encompassing platform for universal distributed computation based on their combined learnings. As a consequence, a new superior architecture and a new construction method were developed, allowing users to create on top of Golem in an infinite number of ways. The Golem Network team has been charged with creating a totally new protocol, architecture, and codebase over the period of 2020.
What Makes GLM Unique?
Golem's role as the backbone of a decentralized market for computing power may be classified as Infrastructure-as-a-Service (IaaS) and also Platform-as-a-Service (PaaS). When specific software integrations are added to the equation, Golem displays its real potential. Any interested entity is free to build and deploy software on the Golem network by uploading it to the Application Registry.
Together with the Transaction Framework, developers may expand and personalize the payment method, resulting in unique techniques for selling applications.
Where Can You Buy Golem [GLM]?
GLM is now available for trading on an increasing number of exchanges, including cryptocurrency and stablecoin pairings. As of October 2020, Binance has the most pairings, but Huobi Global also has Bitcoin (BTC), Ethereum (ETH), and Tether (USDT) choices.
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Is it possible to purchase GLM with cash?
No. It is not possible to purchase Golem with cash. You can, however, utilize markets such as LocalBitcoins to first acquire BTC, and then complete the remainder of the procedures by moving your BTC to the appropriate AltCoin exchangers.
Will Golem GLM Go Up in the Future?
Yes. Golem has the tendency to go up in the future and become worth billions of dollars. The current market capitalization of GNT is $36 million, with each token worth $0.04. If GNT reaches a $1 billion limit, a token will be about $1.24, and if it reaches $10 billion, a token will be worth $12.4. This demonstrates that Golem is a sound investment.
On what factors the price of the Golem Network [GLM] Depends?
Exchange inflows and outflows, technical and fundamental changes, the news cycle, and the overall economic climate are all variables that impact Golem’s price and market cap.
Golem Official website – https://Golem.org/
Golem Medium – https://medium.com/Golem-protocol
Golem Twitter – https://twitter.com/Golemorg
Golem Reddit – https://reddit.com/r/Golemorg