The GLM (Golem Network Token) project is part of the Golem Network, a decentralized distributed computing platform. Golem relies on blockchain technology to provide unused computing resources to users around the world, allowing individuals and companies to rent their computing power or lease it from others.
### Golem Project Goals:
1. Providing unused computing resources: The project aims to take advantage of unused computing resources on users’ devices, providing a cost-effective alternative to traditional cloud computing.
2. Decentralization: Golem relies on blockchain technology to ensure that there is no central authority controlling the network, making it more secure and transparent.
3. Diverse applications: Golem can be used in a wide range of applications, including 3D rendering, data analysis, machine learning, and more.
### GLM Coin:
- Code: GLM
- Blockchain: GLM is based on the Ethereum network and follows the ERC-20 standard.
- Usage: GLM is used as a means of payment within the Golem network. Users who provide computing resources can receive GLM for their services, while users who need computing power can pay GLM to obtain those services.
### How the network works:
1. Providers: These are the users who provide their computing resources to the network.
2. Requestors: These are users who need additional computing power and pay GLM for these services.
3. Applications: Developers can create applications that run on the Golem network, expanding the network's uses.
### Benefits of using Golem:
- Cost savings: Computing costs on Golem can be lower compared to traditional cloud services.
- Flexibility: Users can access additional computing power when needed without requiring large infrastructure investments.
- Privacy and Security: Due to its decentralized nature, Golem offers a high level of privacy and security.
### Challenges:
- Competition: Golem faces stiff competition from major cloud computing services such as AWS and Google Cloud.
- Technical complexity: Using the network can be complex for non-technical users.
### Golem's Future:
Golem's future depends on its ability to attract more users and developers, as well as improve the user experience and expand the range of applications supported by the network.
