Name: Golem
Brand: Golem
SKU: GLM
Price: 11.261627999999998 INR
Availability: InStock
Rating: 4.5 (36 reviews)

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Features good technological feasibility and diverse application scenarios, with major products already launched and either an early-stage or stable ecosystem in place. Multiple automated metrics indicate a notable level of industry attention and support, along with relatively manageable risks.

Golem

Mudrex

Market Statistics

Golem (GLM) is a decentralized computing network that leverages the power of a peer-to-peer network to create a global market for computing power. Within this ecosystem, the Golem token (GLM) acts as a medium of exchange, allowing users to pay or get paid for renting out computational resources. The platform enables users to connect and transact without a central authority, providing a more democratized and accessible computing environment.

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Golem addresses the problem of expensive and centralized cloud computing services by offering a decentralized alternative where users can rent out their idle computing resources or purchase computing power on demand. This model aims to reduce costs and increase accessibility for those requiring computational power for various tasks.

Golem was created by Golem Factory, co-founded by Julian Zawistowski, Aleksandra Skrzypczak, Andrzej Regulski, and Piotr Janiuk. Julian Zawistowski is the CEO and has a background in creating software projects. Piotr Janiuk, the CTO, is an experienced computer programmer passionate about innovative technology. The team has a mix of software development, management, and technology expertise.

The Golem ICO took place in 2016, where the team raised about $8.6 million in ETH by selling more than 80% of the total supply. 

The Golem Project’s whitepaper outlines an ambitious vision for a decentralized supercomputer, facilitated by the Golem Network Token (GNT), now known as GLM, after migrating to an ERC-20 token. This initiative aims to create a global marketplace for computing power, where users can either sell excess computational resources or purchase additional capacity for various tasks, ranging from CGI rendering to scientific calculations and machine learning. The whitepaper emphasizes the project’s potential to disrupt the traditional cloud computing market by offering a more cost-effective, accessible, and decentralized alternative.

Central to the Golem ecosystem is the Golem Network Token (GNT/GLM), designed to ensure flexibility and control over the project’s future evolution. It serves as the currency for peer-to-peer transactions within the network, enabling the rental of idle digital resources. The whitepaper details a comprehensive roadmap, highlighting planned milestones for development and the introduction of key features such as the Application Registry and Transaction Framework. These components are essential for developers to deploy, distribute, and monetize software running on Golem, aiming to change how compute tasks are organized and executed.

The crowdfunding campaign, detailed in the whitepaper, was pivotal for Golem, setting the stage for its development and future growth. The campaign outlined the creation of GNT at a rate of 1,000 GNT per 1 ETH to raise between 150,000 to 820,000 ETH. This funding model allocated a percentage of the generated tokens to the Golem team and Golem Factory GmbH, ensuring resources for the project’s development and marketing efforts.

Golem’s whitepaper also addresses the challenges of scalability and token appreciation, acknowledging the dependence on Ethereum’s scalability improvements. It presents a vision where Golem could become a platform for microservices, running both small and large applications in a completely decentralized manner. This vision underscores Golem’s long-term potential to become a fundamental building block for future Internet service providers and software development, significantly lowering the price of computations and making complex applications more accessible to a broader audience.