Golem is a token created on Ethereum Blockchain network whose transaction takes place from one peer to another without involvement by the government thus is being considered to be a decentralized asset. Golem was mainly created to provide power at a cheaper price for bigger firms that require a lot of energy to perform their online data activity. By providing power at a cheaper price, Golem allows users to share their free computing power using the central processing unit (CPU) among themselves after which they are rewarded with Golem token. The more computing power you share,the more Golem token you earn.

Golem transaction

  Golem transaction takes place on the Ethereum blockchain exploer based on block height and time stamp . To view how the transaction takes place at ethereum blockchain explorer, simply follow the link below;  

https://etherscan.io/token/0xa74476443119A942dE498590Fe1f2454d7D4aC0d  

    Date Launched

Golem was created in 2016 with the main objective of allowing a peer to peer sharing of idle computing power. In return there is a reward in form of Golem token.  

Founder Of Golem

Golem was created by Julian Zawistowski who is a Poland based entrepreneur and economist. His main objective was to help most data companies to minimize on the power consumption by helping them get accessed to free computing power all over the world. In return, the providers of those idle computing power earn reward in form of Golem token.  

Process of creating Golem

 Unlike Cryptocurrencies like bitcoin and ethereum which are created as a proof-of-work through the mining process, for Golem that is not the case since it is a token created on Ethereum network. During the launch, 820,000,000 of Golem tokens were raised through initial coin offering.Therefore Golem token can note be mined. The already issued coin can be recreated through sharing of idle computing power were the computing power providers are being rewarded with already circulating Golem token. Here is an imaging showing how golem reward process works;  

Maximum circulation of Golem

The maximum supply of Golem token is 1,000,000,000. Out of this amount, 820,000,000 were issued to early investors during the initial coin offering stage. 120,000,000 is being held by Golem company while 60,000,000 were distributed to team members  

  Golem Price

Currently, 1 Golem is worth more than $0.06 and its price is expected to increase over the next period of time. Golem is being abbreviated as GNT.

Converting my Golem to other cryptocurrencies T

o convert your Golem  to other cryptocurrencies such as bitcoin and ethereum, you need to have a cryptocurrency exchange account. If you don't own one then you can follow the link to open a cryptocurrency exchange account for easy conversion of your Golem to bitcoin or ethereum.

  https://www.binance.com/?ref=10776203  

  Storing my Golem

To store your Golem, you need to have an Ethereum address supporting ERC-20. You can use meta mask or my ether wallet. Never store your ERC-20 in an exchange unless you are trading them. Never use an exchange Ethereum address to receive your Golem cause you will never receive them because those addresses do not support ERC-20. To secure your Golem token from theft by hackers, you can use offline wallets lie Ledger Nano, Trezor wallet and Jaxx wallet.

Transferring my Golem to other Users

If you want to transfer your Golem to another user, the two of you must have trust in each other. The trust should be the Golem address provided for the receiver while the sender must have the Golem balance in their account to send to the receiver. For the sender, a blank space to insert receiver address and another blank space to insert the amount to send to the receiver is indicated. Here is how it looks like;  

Knowing more About Golem

If you feel that you need to learn more about Golem token, then you can follow them on their site. Here is the link redirecting you to Golem website    https://golem.network/  

  Now that you know, i think that it is time for you to start earning some Golem by sharing your idle computing power .The more idle computing power you have, the more Golem tokens you earn. .If you feel that i should also own some Golem for helping you to know about it then here is my Golem address compatible to ERC-20 token.

  0x829a03ca847DD1Cbf1E4fc102337787B2e28800c