Golem (GLM) – Price Updates, Recent Developments, Community, Upcoming Events
- The Golem tokens migrated from their native network to, as their network architecture required rework.
- Golem was one of the first Ethereum ICOs, but it did not remain on the Ethereum network after launch.
- Reusing leftover resources is a business model that has proven to be idealistic in the blockchain space.
- MIT Solve partnered with Golem to expand its acceptance in the blockchain space.
Cryptocurrencies are disengaging from their P2P transfer systems. Golem is a decentralized P2P marketplace for reusing unused computational space with supply and demand dynamics.
Amazon Web Services (NASDAQ 🙂 offers a similar solution to consumer pain points, but as a centralized entity. The Golem structure had become a heap to leverage Ethereum’s crowdfunding platform before ERC-20 became a blockchain standard.
Golem resurfacing again?
Several decentralized entities mimic Golem’s pay-as-you-go business model. Still, the market potential is highly competitive with projects continually identifying a multitude of services that could help support the integration of Web 3.0 into our daily digital interactions.
Golem migrated from its native ecosystem to an ERC-20 compliant token. The Golem Network CEO emphasized that the company tackles “big tech monopolies with fairer systems,” thus expanding its network architecture. The new network architecture resulted in the creation of a new token.
In November 2020, GNT token holders had the option to migrate to the new network and exchange their token in a 1: 1 pairing for Ethereum’s native token GLM. Building on Ethereum’s layer 2, it expanded the scope of new network opportunities, primarily due to its scaling capabilities.
Golem became part of MIT Solve, extending the network’s reach to early technology users. As stated in their press release, they consider providing uncensored access to computing resources an imperative to “embrace Web 3.0 technologies.” Maria Paula, Golem’s chief advisor, noted that markets, and society in general, are on the brink of “world-changing” events, increasing the demand for disruptive technologies.
On the other side
- Powerful computing users still view big tech monopolies as trustworthy, even though blockchain offers more transparency.
- Golem funded its ICO on Ethereum, but decided not to select an ERC-20 standard.
- Since 2018, GLM has failed to break above its previous all-time high of more than $ 1.
One patch at a time
The title “Airbnb for computers” is not an exaggeration. Greater demand for additional resources increases the workload on Golem’s end service. The developers have been actively committed to improving the stability and security of their final blockchain product.
As such, new code iterations and amendments go through Beta 1 and 2 phases on their mainnet. As Golem gathers more institutional as well as user attention, the smooth operation of the network is imperative for both applicants and providers. Additionally, Golem is actively promoting community rewards to increase dApp testing on their API.
Golem’s claim to credibility as a decentralized marketplace is reflected in its transparency. They introduced API documentation and statistics that allow the community to augment price prediction strategies.
Golem is also looking at community feedback on whether to participate in AAVE or MakerDAO as a guarantee. Additionally, they incentivize Community Contribution by introducing Golem’s own blockchain. The Golem Fleet Battle Simulator demonstrates the project’s ability to integrate multiple use cases and use the resulting computational power to process PvP results. Finally, Golem increases community participation in Discord through a reward system through which participants can receive 1,500 GLM tokens every two months.
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