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
Golem Brass Beta introduced and mainnet launched in 2018. Users could connect Golem to the Ethereum mainnet to earn and spend real GNT for computations.
Golem Beta II released in 2021. The upgrade fixed some previously reported bugs and included Service API, a new payment verification mechanism, and other service improvements.
Introduced Thorg, the first mining app powered and built by Golem, with Layer 2 Polygon payments in September 2021.
Released Golem Beta III in October 2021. Comes with support for Virtual Private Networks between the requestor and provider Virtual Machines.
Released Golem Beta IV in December 2021. Added Polygon support.
‘World Bank & Future Today Institute‘ Recognized the Golem Network in their 2021 ‘Tech Trend Report‘.
Fundraising
The Golem Network ICO opened in November 2016. Raised 820.000 ETH in less than an hour, and created 1.000.000.000 GNT in total.
Roadmap
Aims to give more power to developers for dApp creation in 2022.
Plans to create a convenient environment for dApps with extensive tutorials.
Plans to add features to Thorg: CPU tasks, gamification, more mining engines, affiliation program, extended customization.
Plans to increase the visibility of the GLM token through oracles, GLM support on different platforms (e.g. Compound), staking mechanisms, and additional chain integrations.
Team
Golem was created by ‘Golem Factory‘, a Switzerland-based organization co-founded by Julian Zawistowski, Piotr Janiuk and Andrzej Regulski.
The current team consists of nearly 30 employees and is hiring for multiple developer positions.
Key investors: ‘Continue Capital’, and investment companies ‘KR1′, ‘SVK Crypto’, ‘Fundamental Labs’, & ‘Outlier Ventures’.
Community
Social media accounts: Twitter (NYSE:TWTR) (172K), Reddit (21.8K), Discord (5.6K), Facebook (NASDAQ:FB) (13K).
Has 171 open repositories on GitHub. Repositories include active and regular updates.
Key metrics
Maximum supply: 1 billion GLM
Circulating supply: 1 billion GLM
Market Cap: $463 million
All-time high (ATH): $1.32 (Apr 2018)
All-time low (ATL): $0.00913753 (Dec 2016)
Markets
Available on 50 cryptocurrency trading platforms, including the major ones.
Wallets
Ledger, Trust Wallet, MetaMask, Atomic Wallet.
Asset allocation
The total number of unique addresses that hold Golen coins (GLM) drastically dropped at the beginning of March 2022.
12% of the total supply belongs to the Golem project: 6% was distributed to team members and early contributors.
Verdict
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Source: Cryptocurrency - investing.com
