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What is Golem (GLM)?

Golem basic info

Name:Golem
Ticker:
Introduction:

What Is Golem?

Golem is a decentralized marketplace for computing power, operating on a blockchain-based software system. Founded by the Golem Factory in 2016, with its network officially launching in 2018. Golem aims to democratize access to digital resources, fostering a global peer-to-peer supercomputer that resides in the cloud. This initiative has garnered a massive user base across continents, enhancing both its value and utility.

Golem facilitates the seamless buying and selling of computational power for a myriad of applications including artificial intelligence, cryptocurrency mining, and computer-generated image rendering. By leveraging blockchain technology, Golem nurtures an ecosystem where users can trade computational resources with autonomy over pricing and availability, thereby revolutionizing the traditional cloud computing sector.

Resources

Whitepaper: https://assets.website-files.com/60005e3965a10f31d245af87/60352707e6dd742743c75764_Golemwhitepaper.pdf

Official Website: https://www.golem.network/

How Does Golem Work?

Golem operates as a decentralized supercomputer, amalgamating the computational power of its users to foster more ambitious software solutions in the market. Built on the Ethereum blockchain, Golem utilizes the expansive Dapp and DeFi ecosystem to enhance user experience, maintaining network validity and security. This network connects buyers and sellers in a manner that allows them to offer computations at a reduced rate compared to conventional platforms.

The Golem network is adept at handling tasks that necessitate substantial processing power, such as rendering CGI elements. It employs a fraction of the computational power supplied by sellers in the peer-to-peer market to accomplish tasks almost instantaneously, bypassing the expensive and time-consuming processes associated with traditional cloud computing service providers.

Furthermore, Golem is equipped with developer support, encouraging creators to innovate and develop immersive Dapps. Its open-source nature and cutting-edge architecture foster efficiency and security, promoting creativity within the community. This flexible protocol stands as a viable alternative to centralized cloud computing providers, offering transparency, accessibility, and protection against data breaches.

What Is GNL Token?

The GLM token, initially introduced as the GNT token, serves as the utility token of the Golem network. Users can use GLM tokens to rent computing power or execute smart contracts on the Golem network. Moreover, individuals can earn GLM tokens by sharing their unused computational power with others, fostering a vibrant market for those seeking to sell or rent computer power. GLM has 1,000,000,000 tokens in total supply. All of them are in circulation.

Golem's Impact on Finance

Golem's inception marks a significant shift in the financial landscape, particularly in the decentralized finance (DeFi) sector. By offering a cost-effective avenue to secure returns on unused computer power, Golem has carved a niche in the market, providing users with an opportunity to profit from their computational resources. Moreover, Golem's censorship-resistant approach offers an unrestricted, proxy-free network, mitigating the prevalent issues of content censorship in the market.

However, Golem faces stiff competition in the distributed computing sector, with several projects offering similar solutions. To secure a substantial market share, Golem needs to continually innovate and develop products that surpass those of its competitors. Despite the challenges, Golem's unique value propositions and its commitment to fostering a micro-economy powered by the Golem cryptocurrency have garnered immense attention, especially among software developers.

What Determines Golem's Price?

In the dynamic world of cryptocurrencies, the Golem token price is influenced by a myriad of factors that resonate with both its technical prowess and market sentiments. The Golem (GLM) price today mirrors the decentralized architecture that empowers individuals and businesses to share unused computational resources, fostering a global peer-to-peer supercomputer. This unique proposition has been a cornerstone in determining the Golem cryptocurrency price, offering a cost-effective alternative to mainstream cloud computing services and attracting a substantial user base. Moreover, the GLM token price is closely linked to developments within the Ethereum ecosystem since Golem capitalizes on Ethereum's extensive Dapp and DeFi infrastructure to enhance user experience and network security.

As we delve deeper into the Golem crypto price forecast, it is imperative to consider the role of the GLM token, an asset adhering to the Ethereum ERC-20 standard. The Golem (GLM) price prediction is often dictated by the utility and demand for GLM tokens, which facilitate the renting of computing power or the execution of smart contracts on the Golem network. Furthermore, GLM price analysis must incorporate the increasing adoption rates since its inception in 2016 by the Golem Factory, a Swiss entity led by prominent figures such as Aleksandra Skrzypczak and Julian Zawistowski. The Golem price history reveals a trajectory of growth, spurred by its dedication to creating a censorship-resistant, transparent, and accessible platform, attracting a substantial number of developers and content creators.

Taking a broader view of the Golem GLM price in USD, it becomes clear that the Golem network's supercomputing capabilities have distinguished it in the competitive domain of decentralized cloud computing platforms. The Golem token price chart reflects the network's capacity to offer unprecedented computational power at a fraction of the cost, presenting itself as a practical option for researchers and developers pursuing ambitious software solutions. As we monitor the prospects of the Golem cryptocurrency future, the unique value propositions, vibrant community, and robust developer support appear to be central in shaping the real-time developments in the Golem (GLM) price live. Therefore, for those seeking to stay updated on the current Golem token price, it is wise to keep a close eye on the community developments and the broader Ethereum ecosystem, as they are poised to be significant indicators in the unfolding GLM cryptocurrency news and shifts in the Golem price graph.

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Current price:
All-time high:$1.25
All-time low:$0.008797

GLM supply and tokenomics

Circulating supply:1,000,000,000 GLM
Total supply:1,000,000,000 GLM
Max supply:1,000,000,000 GLM
Market cap:$358.44M
Fully diluted market cap:$358.44M
Token allocation:
Crowdfunding participants
82.00%
Golem Factory GmbH
12.00%
Golem team
6.00%
Tokenomics:

Token utility

GLM token gives users the opportunity to loan out the computing capabilities of their machines (be it a PC or an entire data center) to other users of the network who require that additional processing power. With such a supercomputer at hand, users no longer need to own a lot of advanced hardware to complete complex and high-performance computing operations.

Supercomputers are gaining momentum because they offer users large amounts of, yet highly affordable, computing power. However, in today’s reality, owning a supercomputer can be quite expensive. Moreover, no software yet exists that could efficiently support such great computing capacity without some issues.

This is where Golem enters the stage by bringing all the benefits of a supercomputer to ordinary users. Golem aims to contribute to the idea of decentralization by creating an open-source decentralized supercomputer that is available to everyone, irrespective of their physical location.

Bear in mind that Network’s former token GNT is migrating now. Following the substantial rewrites of the Golem code, the project is migrating from the GNT token to the new ERC20-compliant GLM token that enables Golem to leverage layer 2 solutions of Ethereum for transactions, crypto exchanges, and decentralized finance. Users can convert their GNT to GLM at a 1:1 ratio with no deadlines.

Links

Buy Golem for $1Buy GLM now

What is the development prospect and future value of GLM?

The market value of GLM currently stands at $358.44M, and its market ranking is #188. The value of GLM is widely recognized by the market. When the bull market comes, the market value of GLM will likely continue to increase.

Moreover, if GLM can play a greater role in practical applications, such as Golem builders fully leveraging the potential of GLM, partnering with more businesses, and increasing its user base, the long-term value of GLM will be significantly enhanced.

What will the price of GLM be in 2025?
Based on GLM's historical price performance prediction model, the price of GLM is projected to reach $0.5807 in 2025.
What will the price of GLM be in 2030?
In 2030, the GLM price is expected to change by -7.00%. By the end of 2030, the GLM price is projected to reach $0.9018, with a cumulative ROI of +150.09%.
Reminder: Just like all cryptocurrency investments, investors must closely monitor the market performance of GLM and be aware of the associated risks. The world of cryptocurrencies is full of uncertainties, so thorough research and preparation are essential.

Is GLM worth investing or holding? How to buy GLM from a crypto exchange?

If you want to buy GLM, the following information may be helpful for your investment decisions:
In the last 7 days, the price of GLM has fallen by -16.60%, leading to negative returns for most GLM investors. The market is currently pessimistic about the price trend of GLM.
It is important to note that the current price of GLM has retreated by -71.41% from its all-time high. This coin is currently considered high-risk, and while its price may rebound in the future, there is significant uncertainty.
Additionally, it's important to understand that each coin has its own optimal times for buying and selling. The optimal time to invest is dynamic: when a coin is undervalued, it's wise to adopt a buying strategy; when it becomes overvalued, you should decisively sell the coin.
To decide whether GLM is worth investing in, you need to consider various market factors such as the overall trend of the cryptocurrency market, the project's fundamentals, its current market valuation, and whether the current price is suitable for buying. If the project's fundamentals suddenly change or the price becomes excessively high, you should adjust your investment strategy and trading operations accordingly.
Your investment decisions should be based on your own risk tolerance, financial status, market analysis and research, especially the timing of your investments. Correct timing can ensure more reliable returns. Keep in mind that investing in GLM or any cryptocurrency comes with certain risks and uncertainties.
Regardless of your outlook on the development prospects and future trends of GLM, if you want to buy or sell GLM, you can consider Bitget for your trading needs. The best place to buy GLM is an exchange that offers hassle-free and secure transactions, combined with a user-friendly interface and high liquidity. Every day, millions of users choose Bitget as their trusted platform for crypto purchases.
Investing in Golem has never been easier. Simply sign up on Bitget, complete the identity verification process, and make payments using bank transfers, debit cards, or credit cards, all while ensuring security through crypto wallets. This is a widely adopted method to buy Golem. Here's a step-by-step guide on how to buy Golem on Bitget.

How to get Golem through other methods?

Using cash to buy Golem is not the only way to obtain Golem. If you have the time to spare, you can get Golem for free.
Learn how to earn Golem for free through the Learn2Earn promotion.
Earn free Golem by inviting friends to join Bitget's Assist2Earn promotion.
Receive free Golem airdrops by joining ongoing challenges and promotions.
All crypto airdrops and rewards can be converted to Golem through Bitget Convert, Bitget Swap, or spot trading.

What is Golem used for and how to use Golem?

The use case of Golem may expand as the crypto market and the project itself develop. Currently, you can use GLM to achieve the following goals:
Arbitrage by trading GLM: Since GLM is a frequently traded cryptocurrency, the price of GLM is always fluctuating. Earn more GLM by buying low and selling high on the exchange. Bitget spot market provides a variety of GLM trading pairs to fully meet your needs.
Earn by staking GLM: You can also generate income through financial management methods such as staking GLM or lending GLM. Bitget Earn offers a variety of financial products designed to help you earn more income from your GLM.
Send or pay GLM: If you want to give GLM to your friends, a charity, or a fundraiser, or you want to pay someone with GLM, you can quickly and easily send GLM to the recipient through their payment address.
You can also go to the official website of the Golem project to learn more about the use cases of GLM. For example, find out if the project supports the use of within its community or ecology, or if the project allows you to purchase physical or virtual products in .

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