Buy Golem (GLM)

Golem is a decentralized computing network that allows users to buy and sell computing power for various purposes, such as artificial intelligence (AI), cryptocurrency mining, CGI rendering, and other computationally intensive tasks. Unlike traditional, centralized cloud services, the Golem network is managed by the users themselves, without reliance on central authorities or third parties.

Traditional cloud services often come with high costs and limited accessibility. Golem solves this by creating a peer-to-peer market for computing power, allowing users to sell their unused computing power to users who need it. This lowers costs and makes computing power more accessible to a wider audience.

Golem makes this possible by splitting tasks into smaller parts, which are then distributed across multiple computers within the network. This process, known as task splitting, allows the network to perform large computations quickly and efficiently without relying on a single central resource. Users requiring computing power (requesters) submit a task request to the Golem network. The network validates this request and distributes it across multiple providers of computing power. Once the task is completed, the providers are paid in GLM tokens.

GLM tokens are essential to the functioning of the Golem network. They are used to pay providers for providing computing power, reward developers for contributing software, and handle transaction fees within the network. Golem has set a maximum supply of 1 billion GLM tokens.

Who founded Golem?

Golem was founded by Aleksandra Skrzypczak, Andrzej Regulski, Julian Zawistowski, and Piotr Janiuk. The project is managed by Golem Factory, a company founded in 2016. In addition to the founders, the team consists of experienced professionals with backgrounds in software development and blockchain technology. Their vision to create a decentralized market for computing power led to the development and launch of the Golem Network in 2018.

Golem offers a wide range of applications that provide significant benefits to individuals, developers, and businesses:

• CGI rendering: Users can use Golem to render computer-generated images, enabling them to get results faster than with traditional cloud services or on-premises hardware.
• Deploy software and microservices: Developers can use Golem to deploy and monetize their software and microservices through the Application Registry.
• Decentralized Application (dApp) Development: Businesses and developers can use Golem to develop and run dApps on the network.
• Data exchange: Golem integrates with technologies such as IPFS and Filecoin, helping businesses achieve efficient and scalable data exchange.
• Scientific research: Researchers can leverage Golem's computing power for complex calculations and simulations, which can significantly reduce the lead time of research projects.

The Golem network is fully decentralized and operates on a peer-to-peer model. This means that every node in the network can act as both a provider and a requestor of computing power. The interaction between these nodes is facilitated by smart contracts on the Ethereum blockchain.

Breaking tasks into subtasks

One of Golem’s core technologies is the ability to split tasks into smaller subtasks. When a requestor submits a task, the task is broken down into manageable chunks that can be executed independently by different providers. This process is known as task splitting. Each of these subtasks is then assigned to different nodes within the network, allowing for parallel processing and thus significantly reducing the time required to complete the task.

Verification and payment

Once the subtasks are completed, the results are sent back to the requestor for verification. The Golem network ensures the integrity of the results by running the same subtask across multiple nodes and comparing the results. If the results match, the task is considered successful. The requestor then pays the providers in GLM tokens via a smart contract, ensuring secure and automated payment processing.

Reputation system and security

To ensure the quality and reliability of the services provided, Golem uses a reputation system. Providers are rated based on their performance, such as speed, reliability, and accuracy of the tasks performed. These ratings are stored on the blockchain and are visible to everyone. This reputation system incentivizes providers to consistently deliver high-quality services and helps users select reliable nodes.

Golem is built on the Ethereum blockchain, which provides enhanced security and transparency. All transactions within the network, including payments and reputation scores, are recorded on the blockchain. This provides an immutable and transparent log of all network activity, preventing fraud and ensuring fair interactions between users.

Yagna platform

Yagna is the current implementation of the Golem network and acts as the backbone for processing requests and managing tasks. Yagna offers an enhanced architecture with support for various frameworks and programming languages, allowing developers to easily build and integrate applications with the Golem network. The platform also provides tools for task management, debugging, and monitoring.

The GLM token plays an important role in the Golem ecosystem. First, it serves as a means of payment that allows users to rent computing power. Providers are rewarded in GLM tokens for performing tasks for users. In addition, developers receive GLM tokens as a reward for their contributions to software development. The token is also used for transaction fees and governance within the protocol.

The GLM token is an ERC-20 token on the Ethereum blockchain. There is a maximum supply of 1 billion GLM tokens, which have been in full circulation since January 2024. This means that no new tokens will be created.

Want to provide computing power to the Golem network and earn GLM tokens? Follow these steps:

1. Download and install the Golem software from the official Golem website.
2. Configure your node as a provider by specifying the amount of compute and storage you want to offer, then also set your price margin.
3. After configuration, your node will automatically connect to the Golem network. Your computing power will then be made available to requestors.
4. When your node is connected, it will automatically receive task requests that it processes. The results are sent back to the requestor and you will automatically receive rewards in the form of GLM tokens via Ethereum smart contracts.
   5. Keep a close eye on your node and adjust the settings as needed to optimize your earnings. This way, you can easily earn GLM tokens by providing unused computing power and at the same time contribute to the growth of Golem.

Golem stands out in the blockchain and crypto space in several ways:

• Decentralized computing power market: Golem provides a peer-to-peer market where users can trade their unused computing resources without relying on central parties.
• Task splitting: Tasks are split into smaller parts and distributed across multiple providers, allowing for faster and more efficient processing.
• Reputation system: Providers are rated based on their performance, which motivates them to deliver reliable and high-quality work.
• Innovative tools: Products like Yagna and the Application Registry drive continuous innovation and expansion of network capabilities.
• Future integrations: Integrations with other Ethereum dApps and platforms like Raiden and FileCoin enhance functionality and position Golem as a major player in the Web 3.0 space.

You can buy GLM (Golem) using Bitvavo, a platform suitable for both novice and experienced traders. Follow these steps to buy GLM tokens via our website and app:

1. Log in to your Bitvavo account or create a new account.
2. Add funds to your account by clicking "Deposit".
3. Navigate to the Golem (GLM) purchase page.
4. Enter the amount in euros you want to spend or the number of GLM tokens you wish to purchase and click "Buy".

After purchase, your GLM tokens will be automatically deposited into your Bitvavo account, where you can easily manage and trade them. Selling GLM tokens is just as easy, allowing you to quickly react to price and market changes.

Your GLM tokens can be safely stored in your Bitvavo account. The majority of assets are kept in cold storage by Bitvavo, which means they are managed offline for added security. We also recommend enabling two-factor authentication (2FA) as an additional security measure for your account.

Many software and hardware wallets support GLM. After purchase, you can easily transfer the GLM tokens to an external wallet by linking the wallet address to your Bitvavo account. This gives you full control over your cryptocurrencies.