What is Golem?
Golem is an ambitious open-source project with the intention to build a supercomputer by collecting the computing power of many users around the globe. It doesn’t matter if they are laptops, desktop devices or big data centres, Golem will unite their working capacity and will offer a monetary reward for those who provide equipment and will charge those looking to lease that same gear. The difference is that the Golem`s network is decentralized shared economy offering computing power renting services without the need of a middleman. The max supply of GNT tokens is 1,000,000,000.
Advantages
Golem`s network is capable to assist in the resolution of many global problems related with computing power. The practical specter of usage covers many industries with miscellaneous origin. Most importantly, it is a decentralized system which brings a high level of democracy because realistically such power could be used for many purposes not all of them are noble.
- The wide specter of usage
- Democratized system
Disadvantages
Creating such an ambitious project always push your limits because innovation is related to uncertainty and complexity. Because there is no other similar project, the development team faces issues which they are not capable to predict and prevent.
- Complexity
- Still in the test period
History and Evolution of Golem
Golem token is announced as one of the most successful ICO campaigns because in 2016 it successfully raised over $8.6 million for less than 30 minutes. The idea was presented to the common people as the computing version of Airbnb, allowing anyone, anywhere to rent equipment through their network. The man behind the project is called Julian Zawistowski who is also an advisor is the Hoard blockchain for video games. The first beta versions were called “Alpha” and “Alpha Brass” released on August 2016 and on March 2018, implementing Blender and LuxRender tools for CGI rendering. The team is still moving forward with the project, the next phase is called “Clay” bringing more tools to build dApps. “Stone” will be the security update and “Iron” supposed to be official public release.
Golem’s Future
From everything that you read so far, I believe that you can imagine the magnitude of the impact upon the modern world which Golem coin can inflict. It has the endless potential for development and the fact that there are no other competitive brings a certain level of trust because the project is unique. Another fact is that Golem token operates under the Ethereum network which also delivers a strong feeling of reliability. The utilization of smart contract to rent computing power solves many problems and reduces the final cost the service itself. In a manner of fact, GNT token is already recognized by many exchanges so it won’t be difficult to acquire some anytime. Apart from everything beforementioned, the total decentralization makes you feel equal to all others in the web society and it gives you the right to vote and participate in any minor or major changes on the network. That will prevent the misuse of the computing capacity by impure intentions. I expect to see the bright future of this project because currently there’s no official roadmap of the planned improvements, so we can only wait to see.
Golem Blockchain
The Golem token does not have its own blockchain because it operates as an ERC-20 token on the Ethereum network to host and process transactions and applications. The first 2 updates targeted general integration and improvement of protocols, verification of tasks, UX/GUI refinement and overall bug fixing. I won’t lie to you, the project awakened huge interest and many people started asking when the mainnet will be launched but it is still unclear when and how it will be fully operational.
How to get Golem at Exchanges
Many exchanges offer trading pairs of GNT token, the most popular ones are Bittres, Ethfinex, Poloneix, and Liqui. The highest volume you will find on Huobi with BTC, USDT, and ETH. There is no second opinion, Golem is worth investing because of the many reasons that I have mentioned so far in this article. Golem tokens attract an even bigger audience with its superfast payment transfers, thanks to the lumen technology. It holds a position on the market and the followers of the project are multiplying every day.
| Exchange | Buy Golem with: | Buy with Fiat Money: | |
|---|---|---|---|
| Bitcoin, Ethereum | – | Trade now | |
| Bitcoin, Ethereum | – | Trade now | |
| Bitcoin, Ethereum | – | Trade now |
Wallets for Golem
The official wallet for Golem cryptocurrency is still under development but GNT is an ERC-20 token which practically means that you can use any wallet which supports that standard(Jaxx, Exodus etc) and of course MyEtherWallet. In the digital world nothing is safe because of the many threats on which you are exposed while being online, that’s why it will be best to back up your MEW wallet, see here how it’s done. In case you cannot see the tokens in your wallet, find a solution.
Alternative Wallets
The alternative wallets for GNT coins are splits by different criteria, first, they are hot and cold wallets depending on their access to the internet. After that by the interface and client type, they support desktop, mobile, web. On the table below, you will see options of each type and I will recommend you take advantage of one because it is more secure to keep your digital assets out of the exchange.
Mobile Wallets
Web Wallets
News
After having the information from this review of the Golem coin, you need to know where the relevant information about this cryptocurrency is shared. Always start with the official stream of information posted on the official channels like Golem`s homepage. Right after you may check any other sources that you can find useful for you.