Golem is a peer-to-peer network in which users exchange unused hardware capabilities. It is a decentralised marketplace for information technology resources. Cloud computing has existed before, but it is now a public and user-controlled system.
Golem was created by a small group of cryptocurrency enthusiasts led by Piotr Janiuk. They desired to develop a proxy-free and censorship-resistant protocol that would provide global access to computer power.
Aleksandra Skrzypczak, Andrzej Regulski, Julian Zawistowski, and Piotr Janiuk co-founded Golem Factory, the business behind the Golem platform, in 2016.
Golem (GNT) is an Ethereum-based cryptocurrency token, which is their native token. The current quantity of Golem is 1,000,000,000, with 990,670,000 already in circulation.
Investors may want to consider adding GNT to their portfolios if they believe in the possibility of a decentralised marketplace for anybody looking to purchase or sell computing power.
In February 2021, the price of Golem (GLM) surged 230% to a three-year high following protocol upgrades.
It’s virtually difficult for any cryptocurrency trader to determine how Golem’s solution stacks up against Amazon Web Services and the other top-tier cloud service providers it intends to compete with. As a result, this restricts the upside potential of the GLM coin until such validation occurs through real-world use cases.
The price of Golem Coin has been very volatile. The price fluctuations of coins have removed previous gains.
Golem Coin ran its ICO from 13th October 2016 to 13th November. It raised $8.6 million for 820 million GNT tokens. The project’s “Golem Factory” foundation, together with early contributors and team members, held 180 million tokens.
Golem is an Ethereum-based currency that enables users to pay for and receive resources using the Golem protocol. The protocol allows for network participants to lend their computer’s excess processing power to others.
Many cryptocurrency exchanges, including CoinSwitch Kuber, allow for the purchase of Golem.
Price volatility is highly likely to occur shortly. Golem is extremely liquid, and one can trade it against Ethereum (ETH), Bitcoin (BTC), and other stable currencies (USD).
CoinSwitch, India’s largest crypto exchange, is a safe and reputed investment platform. In keeping with its mission to “Make Money Equal for All,” the company prioritizes quality in its product and the safety of all stakeholders.
Cryptocurrencies have emerged as an attractive investment option in recent years, capturing the imagination of investors despite their high volatility.
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Disclaimer : Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered as investment/financial advice from CoinSwitch. Any action taken upon the information shall be at user's own risk.
Golem is a peer-to-peer network in which users exchange unused hardware capabilities. It is a decentralised marketplace for information technology resources.
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