In the rapidly evolving world of blockchain technology, new projects constantly emerge to tackle existing challenges. One such solution is decentralized computing, which aims to overcome the inefficiencies and high costs associated with traditional centralized structures. Golem (GLM) is at the forefront of this movement, offering a solution to revolutionize computing by leveraging the power of decentralized networks.
What is Golem
Golem is a community-driven network that enables the exchange of unused hardware and software capabilities. Users with idle computing resources can contribute their spare capacity to the Golem network, creating a decentralized marketplace for IT resources.
Unlike traditional cloud services, Golem fosters a peer-to-peer (P2P) and user-controlled system, empowering individuals to rent computing power and access the necessary tools in a seamless and cost-effective manner.
The Golem team
Based in Poland, Golem was founded by Piotr Janiuk, Julian Zawistowski, and Aleksandra Skrzypczak. Serving as the CEO, Director of the Golem Foundation, and COO, respectively, these tech-savvy individuals have decades of combined experience in the computing industry. The team also comprises renowned developers, marketers, and sales experts.
How does Golem work
Golem utilizes blockchain technology to create a sustainable and transparent ecosystem for sharing idle computing power, allowing users to easily share their computing resources with others in exchange for compensation.
By leveraging blockchain, Golem ensures that transactions between users are recorded and permanently stored, promoting transparency in the industry. The integration of smart contracts further enhances the platform, enabling the creation of a decentralized, secure, and seamless infrastructure with a reliable payment system.
This decentralized approach to computing power opens up new possibilities and opportunities for individuals and businesses alike.
Golem’s native token: GLM
GLM is the native ERC-20 token of the Golem network, initially known as GNT. The token serves as fuel for Golem, enabling users to rent computing resources and execute smart contracts on the network. Additionally, users who share their idle computing resources receive GLM tokens in return.
GLM tokenomics
GLM has a maximum supply of 1 billion tokens, all of which are currently in circulation.
GLM use cases
GLM is a vital component in powering the Golem network, facilitating P2P transactions for renting and loaning computing resources within the network. Additionally, GLM token holders can stake their tokens for additional rewards and participate in Golem’s ecosystem governance and decision-making processes.
Distribution of GLM
GLM is distributed as follows:
- 82 percent was sold during the token sale.
- 12 percent was set aside for future developments and project expansion plans.
- 6 percent is held by the team and early project contributors.
What does the future hold for Golem
Golem is dedicated to building a future where accessibility to computing resources is seamless and efficient. The team is focused on introducing innovative features and tools that will create a genuine, secure, and transparent infrastructure for cloud computing resources. Through ongoing development and advancements, Golem aims to revolutionize the way computing resources are accessed and utilized.
