The Overview of the Golem Network

Golem is a decentralized network with a group of best software developers who develop software and technology solutions globally. It creates a global market for computing power, and the computing resources are accessible across the platform. It provides decentralized microservices and asynchronous task execution. Flexible tools help the developers to create and distribute, and also monetize their software solutions. All these services are available for a fee comparatively less than competitors. The Golem ecosystem aims to provide software development, machine learning, and scientific calculation, which are the future of internet blockchain available and accessible for everyone.

Golem Overview

Cryptocurrency Golem
Ticker Symbol GLM
Price $0.3467
Price Change 24H +5.68%
Price Change 7D +7.42%
Market Cap $278,738,201
Circulating Supply 1,000,000,000 GLM
Trading Volume $8,373,341
All-Time High $1.25
All-Time Low $0.008797
Golem ROI +1750.9%

Golem was introduced in Switzerland in the year 2016 by the Golem factory. It was co-founded by Julian Zawistowski, Andrzej Regulski, Piotr Janiuk, Aleksandra Skrzypczak. The network launched in 2018, and the ICO price of GNT at that time was 1 cent. When the craze of cryptocurrency was manipulated, Golem exploded from its price levels. And GNT exhibits a sudden rally to $1, which was surprising and an overbought position for a new cryptocurrency at that time. The ecosystem includes individual and professional computer programmers, Golem application registry, requestors, and providers. Golem project’s native coin is called GLM, which was migrated from GNT.

Features of Golem (GLM)

The flexible open-source Golem platform allows peer-to-peer networks, which give grants to both application owners and users to rent providers’ resources. It is characterized by accessibility, open access, censorship-resistant protocol, and flexibility. The unstoppable ecosystem is a boon for software developers. SDK helps to grip their creativity and showcase talent to the world.

The computing power can be contemplated as both infrastructures as a service and software as a service. The payment systems are easily accessible, cheap, fast, and secure. The provider installation has been set up on the Ethereum Mainnet, so when the provider launches it, he will get a GLM token as a reward. On October 11, 2021, they announced the beta three release, which supports VPN in customer usage service. The company has introduced Thorg, the first mining app built-in golem, which is expecting to provide higher-level community engagement. Golem conducts a reward management program frequently, which ensures building a huge customer base for the platform.

The roadmap of the Golem has been divided into Brass, Clay, Stone, Iron. It has collaborated with alchemy with a project called ‘get to know life @Golem.’ Golem believes in the opportunities of Web3 and partnered with Hoard, which is an expert in the game development field. They have been associated with better developments in the system. Its continued up-gradation in technology standards provides software developers to track and run with the software innovation world.

GNT to GLM Migration

Golem Network token GNT is migrated into GLM. GNT was the former token of the Golem Network, which has started to migrate into GLM by the end of 2020. GLM is an ERC20 token. Its significant transaction costs have applied the fee of migration transaction is in Ethereum because Golem’s new transaction network is constructed in Ethereum layer-2. Still, this migration process is going on.

The reason behind the migration is that the coin launched in 2016 ERC20 token was not much popular. ERC20 is now freely accessible in layer-2, DeFi, and decentralized exchanges. Increased acceptance, ease of use, and flexibility of ERC-20 have made Golem migrate into a new coin. There are mainly three options for migration, first is migrating with the web application of Golem called Metamask. The second is migration from the Golem app if you have an additional Ethereum account. The third is importing Golem keys to Metamask.

Market Status of Golem

The market cap of Golem is $399,187,312.82, with a circulating supply of 1,000,000,000 GLM. Currently, most of the digital coins are trading in Red and flat after a massive rally. Only certain coins are up on the week due to the positive announcements.

GLM gave an 8% return to their investor in the last six months and 3% negativity last week. Even though it takes another three years to cross the all-time high of GLM on Golem price prediction, it should be noted that the business model and services provided by the platform are highly demandable. The contemporary technology world is looking at the decentralized system and advanced blockchain technology platform, which also has enormous growth potential.