Coin Health Check: Golem (GLM)

Golem (GLM) is a global, open-source, decentralized network that aims to connect thousands of computers around the world through its blockchain to build a distributed supercomputer.

Founded in Switzerland in 2016, Golem is expected to become one of the most disruptive blockchain projects.

State of project Golem works on the blockchain. It is a lightweight, anonymous and censorship-resistant protocol, with a modular architecture.

The network acts as a peer-to-peer marketplace for excess computing power. It uses the distributed cloud to make computing power available to every user.

Users can rent their hardware, they are compensated in Golem tokens (GLM).

GLM is an ERC-20 utility token, used to access the Golem network and in P2P transactions for renting computing power and other spare digital resources. The former token of the Golem network, GNT, migrated to GLM in late 2020.

Golem enables fast and low-cost GLM micropayments on Ethereum’s Layer 2.

Development and performance Golem Brass Beta introduced and mainnet launched in 2018. Users could connect Golem to the Ethereum mainnet to earn and spend real GNT for calculations.

Golem Beta II released in 2021. The upgrade fixed some previously reported bugs and included Service API, a new payment verification mechanism, and other service improvements.

Introducing Torg, the first mining app powered and built by Golem, with Layer 2 Polygon payments in September 2021.

Golem Beta III released in October 2021. Comes with support for Virtual Private Networks between the requestor and provider Virtual Machines.

Golem Beta IV released December 2021. Added Polygon support.

World Bank & Future Today Institute recognized the Golem network in their 2021 Tech Trend Report.

fundraising The Golem Network ICO opened in November 2016. Raised 820,000 ETH in less than an hour and created a total of 1,000,000,000 GNT.

roadmap Aims to empower developers to create dApp by 2022.

Plans to create a convenient environment for dApps with comprehensive tutorials.

Plans to add features to Torg: CPU tasks, gamification, more mining engines, affiliate program, extensive customization options.

Plans to increase the visibility of the GLM token through oracles, cross-platform GLM support (e.g. Compound), stakeout mechanisms, and additional chain integrations.

Team Golem was founded by ‘Golem Factory’, a Switzerland-based organization co-founded by Julian Zawistowski, Piotr Janiuk and Andrzej Regulski.

The current team consists of almost 30 employees and is looking for multiple developer positions.

Main investors: ‘Continue Capital’ and investment companies ‘KR1′, ‘SVK Crypto’, ‘Fundamental Labs’ and ‘Outlier Ventures’.

Community Social Media Accounts: Twitter (NYSE:) (172K), Reddit (21.8K), Discord (5.6K), Facebook (NASDAQ:) (13K).

Has 171 open repositories on GitHub. Repositories contain active and regular updates.

Key Statistics Maximum offer: 1 billion GLM

Circulating offer: 1 billion GLM

Market capitalization: $463 million

Highest Ever (ATH): $1.32 (April 2018)

Lowest Ever (ATL): $0.00913753 (Dec 2016)

markets Available on 50 cryptocurrency trading platforms, including the major ones.

wallets Ledger, Trust Wallet, MetaMask, Atomic Wallet.

Asset allocation The total number of unique addresses with Golen Coins (GLM) dropped dramatically in early March 2022.

12% of the total supply is from the Golem project: 6% was distributed among team members and early contributors.

verdict

The digital economy, artificial intelligence (AI), 5G, big data and blockchain all require huge amounts of computing power, which have become the inevitable forms of innovation and productivity so far in this decade. The need for sufficient computing power is endless. Golem has little competition. While centralized virtual server providers such as Google (NASDAQ:), Amazon (NASDAQ:), and Microsoft (NASDAQ:) have expressed interest, there are currently no serious rivals to the Golem network in the decentralized space. The project is actively evolving and boasts a highly contributing community and ambitious plans for its future development, which could have a major impact on the entire Golem ecosystem and on the price of GLM. As with the cryptocurrency market in general, GLM has been experiencing a bear market since late November 2021. The token has fallen almost 65% since its ATH and has not reached such highs four years later. As a coin with strong fundamentals, a steady supply and a small market cap, GLM can be a valuable asset to add to a crypto portfolio with the intention of holding it for the next bull run.

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This post Coin Healthcheck: Golem (GLM) by DailyCoin was original published at “https://www.investing.com/news/cryptocurrency-news/coin-healthcheck-golem-glm-2787975”

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