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Golem GLM

Golem header image

1. Summary

Fundamental Rank
Developer Rank
Social Rank
Coinrank
Price
$0.43 -7.5%
Market Cap
$441.04M (#140)
Supply
1.00B / 1.00B
Description

Golem is a software that has the main goal of incentivizing users to operate a market where the computational resources can be bought or sold in exchange for cryptocurrency.

Golem is a software that has the main goal of incentivizing users to operate a market where the computational resources can be bought or sold in exchange for cryptocurrency.

Its software is built to facilitate the exchange, where it links users who do not have the resources to carry out specific projects to those who have resources to spare. In return for all of this work and effort, those who supply the resources to the Golem network are rewarded with GTN.

Golem’s creators have essentially created a network which is a user-controller cloud computing service that connects users that require computational work.

The GLM Token Explained

The GLM token, otherwise known as the Golem Network Token is required to pay for computations on the network. It is the currency that also drives the marketplace. You can set a bid for an amount of GNT if you are a requestor, where you are essentially paying to have your task completed. However, you can also be a provider, which means that you can earn GNT by computing tasks for the requestors. You can set a maximum as well as a minimum price threshold.

Features of Golem

Within the Golem Network, transactions occur when someone requires computational services. This person is known as a requestor. Their main mission here is to ask for resources through the usage of a task template.

Golem rents computing resources from another user, which is known as the provider, in order to give the requester the processing power they need.

Speaking of the task template, it contains the full computational logic which the Golem Network will be required to have in order to execute the request. This means that it has the source code that needs to be run, how the task will be split into subtasks and sent to different nodes, and how the results can be verified into a final test result.

The requesters can use the task template which is already created for the network, or even generate their own if that is what they would prefer doing. Once the requestor submits a request, the golem network seeks to programmatically fulfill it.

When the subtasks are eventually completed, they then go through a verification stage that ensures that they were completed correctly. The Golem client can then piece the subtasks into one giant piece before it is sent back to the requester.

Think along the lines of rendering an entire 3D animation, or rendering a video that was recorded in 4K, where you would need multiple CPU and GPU cores that most users might not have access to at all times. Instead of waiting for days for a sub-par PC to render these, they can rent out the processing power required to do this in just a few hours.

Founders of Golem (GLM)

Discussing the founders of Golem, the Golem Factory was founded in Switzerland in 2016.

It was founded by Aleksandra Skrzypczak, Andrzej Regulski, Piotr Janiuk and Julian Zawistowski. The idea was first presented during DevCon 0 in 2014, 2016 it was announced and led by the Golem Factory, and over the course of 2020, the Golem Network team was tasked with building a new protocol, architecture, and codebase for it.

2. Price

$GLM / USD

2.1. Market Performance

How does Golem's (GLM) performance compare to assets of a similar market capitalization?

30 Day Return

-4.3%

GLM

-22.4%

Similar Market Cap

60 Day Return

17.1%

GLM

26.5%

Similar Market Cap

1 Year Return

347.8%

GLM

1,033.1%

Similar Market Cap

3. Developer Activity

We're monitoring 161 Golem Github repos for commits, code additions and deletions. This data is factored into the Developer Rank.

Weekly Commits (All Golem Repos)

Commits vs. The Market

  • Past 4 weeks: 113 commits vs. an average of 40
  • Past 12 weeks: 369 commits vs. an average of 144
  • Past year: 6,409 commits vs. an average of 980

Most Active Repos

Past week 0
Past 12 weeks 0
Past year 2423
Past week 20
Past 12 weeks 140
Past year 1246
Past week 37
Past 12 weeks 198
Past year 621
Past week 1
Past 12 weeks 100
Past year 570
Past week 10
Past 12 weeks 36
Past year 501
Past week 8
Past 12 weeks 43
Past year 215
4. Social Activity
Reddit Subscribers 21,346
Active Reddit Users (past 24h) 24
Telegram Users 0
Twitter followers 160,228
5. News
6. More Information

Always do your own research (DYOR) before making any investment. Here's some links you might find helpful:

Website https://golem.network/
Explorer https://etherscan.io/token/0x7DD9c5Cba05E151C895FDe1CF355C9A1D5DA6429
Twitter @golemproject
reddit /r/GolemProject
Forum https://blog.golemproject.net/
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