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Coin Healthcheck: Golem (GLM)

By DailyCoin | DailyCoin | 21 Mar 2022


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Golem (GLM) is a global, open-source, decentralized network that aims to connect thousands of computers all over the world through its blockchain to build a distributed supercomputer.

Founded in Switzerland in 2016, Golem is expected to become one of the most disruptive blockchain projects.

   

State of Project

 Golem operates on the Ethereum blockchain. It is a lightweight, anonymous and censorship-resistant protocol, with a modular architecture.

 The network functions as a peer-to-peer marketplace for excess computing power. It uses the distributed cloud to enable computing power available to every user.

 Users are able to rent their hardware, they get compensated in Golem tokens (GLM).

 GLM is an ERC-20 utility token, used to access the Golem Network and in P2P transactions for renting computing power and other spare digital resources. The Golem Network’s former token, GNT migrated to GLM at the end of 2020.

 Golem enables fast and cheap GLM micropayments on Ethereum’s Layer 2.

 

Development and Achievements

 

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DailyCoin
DailyCoin

DailyCoin is an online media outlet, with a focus to cover news, opinions, trends and helpful articles on Fintech, digital assets, blockchain technology and other related technologies.

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