Golem (GLM) is a decentralized, open-source cryptocurrency and peer-to-peer network that aims to enable users to buy and sell computing power. The Golem network allows users to lend their idle computing resources to others, who then use them to perform various tasks such as rendering graphics, running simulations, and more. The network is powered by the GLM token, which is used for payment between users.
Golem Features and Updates
Golem is an open-source, decentralized computation platform that allows users to rent out their idle computing resources or use resources provided by others to perform tasks. Some features of Golem include:
Task Scheduling: Golem allows users to specify the tasks they want to run and any required input data. The network will match them with available resources to perform the computation.
Payment System: Golem includes a built-in micropayment system that allows users to pay for computing resources in small increments and a reputation system to help users identify reliable providers.
Security: Golem uses various security measures to protect against malicious actors, including signed task descriptions and resource-proof verification.
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Who Are The Founders of Golem (GLM)?
Golem was founded by Julian Zawistowski, Andrzej Regulski, and Piotr Janiuk. Zawistowski is the CEO of Golem Factory, the company behind the Golem project, and has a software development and economics background. Regulski is the CTO of Golem Factory and has experience in software development and cybersecurity. Janiuk is the COO of Golem Factory and has a background in business development and management.
What Makes Golem (GLM) Unique?
Golem is unique because it is a decentralized, open-source platform for computation that allows users to rent out their idle computing resources or use resources provided by others to perform tasks. This makes it different from traditional cloud computing platforms, which are typically centralized and owned by a single company.
One of the key features that sets Golem apart is its use of a decentralized network to match tasks with available resources. This allows for a more flexible and scalable approach to computation, as the network can draw on resources from a wide range of providers.
Golem is also designed to be secure, with various measures in place to protect against malicious actors. Task descriptions are signed, and resource proof is verified, ensuring that tasks are executed as intended, and resources are utilized according to their advertised usage.
Overall, the combination of decentralization, flexibility, and security make Golem a unique platform for computation.
How Many Golem (GLM) Are There in Circulation?
According to data from CoinMarketCap, as of January 10, 2023, there are 959,000,000 Golem (GLM) in circulation. The total supply of GLM is fixed at 1,000,000,000 tokens. It is worth noting that a cryptocurrency’s total supply and circulating supply can sometimes change as new tokens are created or destroyed, so it’s always a good idea to check for the most up-to-date information.
How is The Golem (GLM) network Secured?
Golem uses various security measures to protect the network and prevent malicious actors. Some of the measures used to secure the Golem network include:
Signed Task Descriptions: When users submit tasks to the network, they must include a signed task description containing information about the task and any required input data. This helps to ensure that the task is legitimate and that the input data has not been tampered with.
Resource-proof Verification: Golem verifies the correct use of computing resources using a resource-proof verification system. As a result, fraud is prevented, and users are only charged for resources they actually use.
Reputation System: Golem includes a reputation system that allows users to rate and review the performance of other users. This can help to identify reliable providers and protect against potential scams.
Security Audits: The Golem codebase is regularly audited by third-party security experts to identify and address potential vulnerabilities.
Encryption: Golem uses encryption to protect against unauthorized access to data and communication on the network.
These measures are designed to help ensure the security and integrity of the Golem network and protect against malicious actors.
Golem (GLM) Price Predictions 2024-2035
Detailed Yearly Predictions
- Max Price: $5
- Avg Price: $2
- Min Price: $1
- Analysis: In 2024, Golem (GLM) is predicted to reach a maximum of $5, with an average price around $2 and a minimum of $1. This growth is anticipated due to increased adoption of decentralized computing and potential strategic partnerships in the tech industry. The expansion of Golem’s use cases in areas such as AI and big data analysis, coupled with overall positive market sentiment towards blockchain utilities, could significantly influence these prices.
- Max Price: $10
- Avg Price: $3
- Min Price: $2
- Analysis: By 2025, Golem could see a maximum price of $10. This increase might be driven by broader acceptance of Golem’s computational resources in various sectors, including scientific research and 3D rendering. The platform’s continuous technological enhancements, along with its growing reputation as a reliable and cost-effective solution for computational needs, are expected to be key factors in this price rise.
- Max Price: $50
- Avg Price: $20
- Min Price: $12
- Analysis: Come 2030, Golem is forecasted to attain a maximum price of $50. This significant growth projection is based on the anticipated maturation of blockchain technology and the wider acceptance of decentralized solutions for computational tasks. Key developments could include integration with emerging technologies like quantum computing and extensive adoption in large-scale industrial applications.
- Max Price: $100
- Avg Price: $50
- Min Price: $20
- Analysis: Looking ahead to 2035, Golem could potentially reach a maximum price of $100. This long-term forecast hinges on the sustained evolution of the Golem network, including its ability to adapt to new technological advancements and maintain a strong position in an increasingly competitive market. The successful implementation of Golem in sectors such as healthcare for complex data analysis and its potential role in supporting large-scale Internet of Things (IoT) networks could be pivotal in reaching these price levels.
Where Can You Buy Golem (GLM)?
To invest in GOLEM, follow these steps:
Choose a Cryptocurrency Exchange: Research and select a reliable cryptocurrency exchange that lists GLM.
Set Up an Account: Register an account on the chosen exchange. This process will include providing personal information and completing identity verification to comply with regulatory standards.
Select a Payment Method: Most exchanges offer various payment methods, such as bank transfers, credit/debit cards, or even PayPal. Choose the one most convenient for you.
Place an Order: Once your account is funded, you can place an order to buy GLM. This typically involves specifying the amount you wish to purchase and executing the transaction.
Store Your GLM: After acquiring GLM, transfer your holdings to a secure wallet – either a hardware wallet for maximum security or a software wallet for convenience.
How Can Crypto Investors Use Golem (GLM)?
There are a few different ways in which crypto investors can use Golem (GLM):
Buy and hold: One option is to buy GLM and hold onto it, hoping its value will increase over time. This can be a good strategy for investors who believe the Golem project has long-term potential and want to accumulate as many tokens as possible.
Trade: Another option is to trade GLM on cryptocurrency exchanges, buying and selling the tokens as the price fluctuates. This can be a more active approach and requires more knowledge and understanding of the market.
Use The Platform: Investors can also use the Golem platform to perform tasks and earn GLM tokens as payment. This can be an excellent way to “earn while you learn” and gain a deeper understanding of the platform while potentially earning additional tokens.
Is GLM a good investment?
The long-term price predictions for Golem indicate that it will be a profitable investment. According to forecasts, Golem GLM will be worth $0.77 in five years, which is almost four times more profitable than it is today.
Does (GLM) have a future?
Yes, it does. Based on its use-case, it should stand the test of time and still be relevant in crypto.
Is Golem (GLM) a good cryptocurrency?
Despite the financial and security challenges the crypto world has experienced, GLM has survived and should be worth $1 if all goes well.