What Problems Does Golem (GLM) Attempt to Fix?

GLM coin

The cloud computing industry has been beset by a number of problems. It is extremely centrally located, to start. Because they have market power, platforms like AWS demand higher prices for their cloud computing and data services. Up until recently, there weren’t many options for consumers. This industry has undergone a change thanks to the adoption of blockchain technology.

Golem offers people a practical way to get paid for their underutilised computer power. Users donate their computing work specifically to other Golem community members. Depending on how much computing power users contribute to the network, they get GLM tokens. Users can now finally take advantage of their underutilised computer power thanks to this strategy. Additionally, it opens up a brand-new market for consumers to take advantage of. On the Golem market, users can offer their services in a quick and safe way.

what is Golem (GLM)?

A decentralised market for computing power is run by Golem (GLM). Users can share their unused computer resources over the protocol and receive compensation for their labour. A global peer-to-peer supercomputer that resides in the cloud is accessible to academics as part of the project’s aim to democratise access to digital resources.

Censorship

The increasing level of market censorship is one of the primary problems that developers and content producers continue to face. The previous few years have seen the development and promotion of a narrative. Those who have questioned it have discovered that their content has been restricted or, in some cases, permanently removed. Golem offers unconstrained, proxy-free choices to the market that are censorship-resistant.

Benefits of Golem (GLM)

There are numerous benefits to using Golem instead of a centralised cloud computing provider for an individual or company. The system offers more openness, for starters. Using a straightforward explorer, you can keep track of all transactions on the blockchain. The typical consumer, in contrast, has no knowledge of AWS or other data suppliers.

The products are also easier to obtain. You don’t have to fill out a tonne of invasive paperwork in order to use Golem. Your personal information is not required for them to use their services. Users benefit from increased safety thanks to this strategy’s ability to stop data breaches in the future.

Data breaches are becoming more frequent, with billions of pieces of stolen personal data already being sold in 2022. Users of Golem avoid these problems because they can access the network’s capabilities and services by simply opening a wallet and holding GLM tokens. Additionally, this tactic enhances user onboarding.

Developer Support

Golem offers the market developer support, enabling creators to be innovative. The protocol’s distinctive qualities can all be used to build more engaging Dapps. The system is open source, and the programmers can offer more assistance.

Flexible

Golem is a flexible protocol that makes use of cutting-edge open-source architecture to increase user efficiency and security. The developers encourage creativity within the community and the network is entirely programable. The Golem community can assist you in creating a Dapp by guiding you toward your objectives and clearing up any confusion.

Supercomputer

Golem’s enormous computing power is one of its key advantages. For researchers that require supercomputers to complete their tasks, the network serves as a kind of supercomputer. The network serves as a sizable computer that combines the hashing ability of all users, enabling software developers to offer more ambitious software solutions.

How Does Golem (GLM) Work

In the Ethereum community, Golem has long been a well-liked project. The Ethereum blockchain was used to build the network. To enhance the user experience, it makes advantage of the biggest Dapp and DeFi ecosystem in the globe. Ethereum is used by Golem to ensure network integrity and enhance security. It’s noteworthy that it was among the first Ethereum-based projects.

Golem works by bringing together customers and sellers so that they can provide computations, such as CGI rendering, AI, and bitcoin mining, to other users at a lower cost than the competition. The network makes use of Golem’s distinctive structure to enable international payments.

Supercomputer

One of the key attractions of the Golem network is its supercomputing capabilities. For the majority of individuals, accessing a supercomputer is practically impossible. However, the Golem’s design offers comparable processing power for a far lower price. There is no waiting period either. Users get immediate access to global computing power whenever they require it. This choice may be more realistic for most individuals than to booking a pricey supercomputer session.

Token

The GNT token was the original name of the GLM token, which was later altered to reflect the protocol’s direction. The coin functions as an ERC-20-compliant asset on Ethereum. On the Golem network, it can be used to carry out smart contracts or rent out computer power. When users distribute their unused computational resources, they additionally receive GLM tokens.

History

Since the concept was first announced in 2016, Golem, or “the first international supercomputer,” has made some important steps in adoption. The Golem Factory, a group from Switzerland, created Golem. Aleksandra Skrzypczak, Andrzej Regulski, Julian Zawistowski, and Piotr Janiuk were the specific co-founders of the protocol.

Decentralized Cloud Computing Competition on the Rise

The number of decentralised cloud computing platforms on the market has been steadily rising. These solutions have shown to save firms money while offering services on par with those offered by top-performing suppliers. In terms of data-sharing possibilities, Golem is not unique. It does stand out from the majority of the competition, though, thanks to its supercomputer capabilities.

How to Buy Golem (GLM)

You can buy Golem (GLM) right now on the following exchanges.

Best for much of the world, including Australia, Canada, Singapore, and the UK, is Binance. It is forbidden for Americans to purchase Golem (GLM). 10% off all trading costs can be obtained by using the promotional code EE59L0QP.

Over 300 more well-known tokens may presently be traded for cryptocurrencies on KuCoin. It frequently offers purchase opportunities for new tokens initially. Residents of the United States & other countries are currently accepted in this exchange.

One of the best exchanges for people in the US and the UK that offers a large variety of cryptocurrencies is called Uphold. The Netherlands and Germany are off limits.

Uphold Note that the assets on Uphold depend on the region. All trading and investments carry risk, and it is possible to lose money. Because they are mostly unregulated, cryptocurrencies are not protected.

WazirX – As a member of the Binance Group, this exchange is held to a high degree of excellence. The finest exchange is available to Indian citizens.

Golem (GLM) – Researchers Gain

Golem offers the market a useful service. There is now a trustworthy alternative for those looking for more economical cloud computing services. Golem combines a number of well-liked features with Ethereum’s well-established security record to help develop a thriving market for individuals looking to buy or rent computing power.