GLM is an Ethereum token that allows users to pay or receive payment for resources via the Golem protocol. The protocol aims to allow participants in the network to loan out their computer’s spare processing power to others.
What Is Golem (GLM)?
Golem is a decentralized computation network designed to create a global market for computing power. The platform facilitates combined mechanisms of flexible tools to aid developers in securely distributing and generating revenue from their software. Golem aims to become a building block for future Internet service providers and software development. Subsequently, users and creators can create, compute, and earn by building ambitious software solutions by accessing computing resources across the platform.
According to its whitepaper, Golem aims to be a new way of distributing redundant computing power for on-demand uses. The platform seeks to create a peer-to-peer network wherein users can join on an equal basis to trade computation and split up complicated tasks into subtasks on the network. Also, the Golem platform has an in-built feature dedicated to the Ethereum-based transaction system that enables users to perform direct payments between requestors, providers, and software developers.
Besides being at the core of the decentralized market for computing power, the primary function of the platform is to serve as an Infrastructure-as-a-Service (IaaS) and Platform-as-a-Service (PaaS). Thus, the platform intends to offer users tools such as:
Golem SDKs (Software Development Kits) that includes requestors and providers tutorials;
Execution environments like Wasm, VM, SGX stack;
Python, JavaScript, and Rust API; and
Community-curated list of resources, links, projects, tools, and applications.
GNT and GLM are the two tokens used to pay for computations on the network and at the marketplace. GNT is the former ERC20-based token; meanwhile, GLM is a migrated GNT token used to access the Golem Network and perform peer-to-peer transactions for renting idle digital resources. GLM is also an ERC20-based utility token. Users can purchase GLM on various DEX listings.
History of Golem (GLM)
Piotr Janiuk is the acting CEO, CTO, and co-founder of the Golem platform. Aleksandra Skrypczak is the co-founder and lead software engineer of the Golem ecosystem. She and her team worked together and published the GLM project’s whitepaper in November of 2016.
