What is a Golem? The Golem project was conceived in 2014 but was officially released in 2016. The project is a Blockchain network that tries to channel idle computing power and provide it to users. In this article, you can access the answers to the questions that investors wonder, such as what is Golem, what it offers, what is GLM coin, what is it for, how to get it. As Kriptokoin.com, we have prepared it for you.
What is a Golem? What Does It Do?
Golem Network, at its core, democratizes access to digital resources. In addition, users; connects them through a flexible, open-source platform. Thus, it describes itself as “an accessible, secure, open-source and censorship-proof protocol”. In the network, providers benefit from giving away computing power that they do not use. Requesters, usually developers, offer a specific price that they are willing to pay for the completion of a task. A provider can then complete requests for a specified GLM. According to the live data on the website, there are currently 703 providers available for calculation. That said, there are 12 providers that are actively computing.
What is GLM Coin?
GLM is Golem’s native token. Golem enables decentralized microservices and asynchronous business execution. Thus, it is set to become an important blockchain token for future service providers and software developers. It makes software applications such as CGI processing, computation, and machine learning more accessible to everyone.
How Does a Golem Work?
The business situation for the Golem is basically dependent on previous technological advancements. They are based on the assumption that the computing resources market can be organized around entirely new concepts. On the other hand, large companies such as Amazon, Google, Microsoft and IBM currently control the computing market, using their market dominance and assets to secure substantial profit margins, resulting in inefficiently priced computing services. Fortunately, the market is not destined to operate this way indefinitely. Procurement of computer resources with Golem is dependent on donations from individual and professional providers. Besides that, it is based on various proprietary software available through Golem’s Application Registry that works in a competitive market.
What is a Golem? How to Get GLM Coins?
Golem is traded on many crypto currency exchanges with large trading volume. GLM coin is currently listed by exchanges like Binance, OKX, Bitget, KuCoin. To purchase the token, it is necessary to become a member of one of these exchanges and verify the identity. Investors who have created their accounts completely can buy GLM coins by depositing money in their wallets.
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