What is Golem?

The Golem token, or GLM, (previously known as the Golem Network Token, or GNT) is the native utility token of the Golem Network. It’s based on the ERC-20 token standard.

GLM serves as a medium of exchange on the Golem Network.

The first token of the Golem Network was GNT. The decision to migrate GNT to GLM was made since the GNT token, while being Ethereum-based, was not an ERC-20 token. The migration started in November of 2020, and it doesn’t have a deadline. This means that GNT holders will always be able to exchange their tokens to GLM on a 1:1 ratio.

There is a max cap of 1,000,000,000 GLM tokens. This could mean that, as the Golem token becomes more scarce, the GLM price will increase.

There are a few ways to obtain GLM tokens. Firstly, you can simply purchase them via an exchange. To do this, make sure to first check the Golem price and only then find pairs on exchanges. The second option is to lend your computing power to the Golem Network where other users will be able to use it for a fee.

It’s important to keep in mind that it's impossible to obtain GLM coins via mining.

You can have a more detailed look at the Golem price on the graph above.

What are the Main Features of Golem?

Golem is a decentralized supercomputer functioning as a distributed cloud that’s created from digital resources all over the world. To put it simply, it provides users with great computing power without them having to leave their house. Most importantly, it’s capable of handling complex computations like CGI rendering or machine learning.

It serves as an alternative to centralized cloud computing solutions.

There are 3 roles within Golem: requestors, providers, and developers.

Requestors borrow computing power from providers. Based on the computation task, requestors must first set the price they’re willing to pay for the computing power needed. 

Providers lend out their spare digital resources, such as GPU or CPU. By doing this, they’re providing computing power for 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 a maximum price for borrowing their computing power. Besides, there are no limitations set on who can become a provider. Whether you have a supercomputer warehouse, a simple laptop, or an entire data center, you can join the Golem Network and start earning.

On the other hand, developers can launch and monetize their software on Golem.

Besides enabling the lending and borrowing of computing power, Golem also provides JavaScript, Python, and Rust APIs as well as execution environments. Moreover, it ensures users are on the right path by providing exclusive tutorials and community-powered educational resources.

The Golem Network roadmap includes 4 stages of the project - Brass Golem, Clay Golem, Stone Golem, and Iron Golem.

Don't forget to check the Golem price and its other statistics on the graph above if you're considering making a purchase.

Who Developed Golem?

The Golem crypto project was launched by the Golem Factory in April of 2018.

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

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

Its core team consists of a council, a board of management, and advisors. The majority of them are located in Poland.

Council members include Julian Zawistowski, Pascal Schmid, Natalja Lorenz, and Thomas Linder.

Board of Management members includes Pascal Schmid who has taken the role of CEO and Natalja Lorenz.

Advisors are Joanna Rutkowska and Andrzej Regulski.