Current rate

What is Golem?

Golem (GLM) is a cryptocurrency that operates as a decentralized computing network, allowing users to rent out their unused computing power. The Golem token is used for transactions within this ecosystem, facilitating payments for computing resources and services. This blockchain project runs on the Ethereum blockchain, enabling developers to create and deploy decentralized applications (dApps) that require significant computational resources. By connecting providers and consumers of computing power, Golem aims to create a more efficient and accessible global computing network.

When and how did Golem start?

Golem (GLM) was launched in 2016, created by a team led by Julian Zawistowski, who aimed to build a decentralized computing network. The project gained significant attention during its initial coin offering (ICO) in November 2016, raising over $8 million. Golem was initially listed on major exchanges, including Poloniex and Kraken, which helped establish its presence in the crypto market. The platform allows users to rent out their unused computing power, fostering a collaborative ecosystem for developers and users alike. Over the years, Golem has undergone various updates and improvements, solidifying its position in the decentralized computing space.

What’s coming up for Golem?

Golem (GLM) is poised for significant advancements as it continues to enhance its decentralized computing network. The upcoming roadmap includes the integration of new features aimed at improving user experience and expanding the platform's capabilities for developers. Community goals focus on increasing participation in Golem's ecosystem, fostering collaboration, and driving the adoption of decentralized applications. With these developments, Golem aims to solidify its position as a leading solution for distributed computing, catering to a variety of use cases such as rendering, AI, and scientific computations. The next upgrade is expected to bolster performance and scalability, further evolving Golem's offerings in the blockchain space.

What makes Golem stand out?

Golem (GLM) is unique compared to other cryptocurrencies due to its standout technology that enables decentralized computing power sharing, allowing users to rent out their unused processing resources. This real-world use case facilitates a wide range of applications, from CGI rendering to scientific computations, creating a collaborative ecosystem. Unlike traditional cryptocurrencies, Golem operates on a unique tokenomics model that incentivizes both providers and requesters of computational power, enhancing its utility within the network.

What can you do with Golem?

Golem (GLM) is primarily used as a utility token within the Golem network, enabling users to pay for computing power and services in a decentralized manner. It can also be utilized for staking to participate in governance decisions, allowing holders to influence the protocol's development. Additionally, GLM can be integrated into DeFi apps and NFTs, expanding its use cases within the broader blockchain ecosystem.

Is Golem still active or relevant?

Golem (GLM) is currently active, with ongoing development and regular updates from its team. The project remains still traded on several exchanges, reflecting a steady interest from investors. Additionally, the community presence is vibrant, indicating that Golem is not an inactive project or abandoned.

Who is Golem designed for?

Golem (GLM) is built for developers and businesses seeking decentralized computing power. Its target audience includes those in need of high-performance computing resources for tasks such as rendering, data analysis, and machine learning. The platform fosters a community of users who leverage its capabilities for innovative projects in various industries.

How is Golem secured?

Golem (GLM) secures its network through a unique decentralized model that leverages a combination of Proof of Work and a reputation system for validators, ensuring robust blockchain protection. Validators contribute computational power and are incentivized based on their performance, enhancing network security and consensus. This innovative approach allows Golem to maintain a reliable and efficient marketplace for computing resources.

Has Golem faced any controversy or risks?

Golem (GLM) has faced challenges related to extreme volatility, which poses significant investment risks for users. Additionally, the project has encountered security incidents, including hacks that raised concerns about the safety of funds within its ecosystem. While there have been no major legal issues or rug pulls reported, the evolving nature of the decentralized technology sector continues to present inherent uncertainties.