About Golem (GLM)
Golem is a decentralized marketplace for peer-to-peer (P2P) computing power, where requestors seek to purchase computing power for energy-intensive processes they lack the bandwidth to complete. The Golem network hosts users who dedicate extra computing power to it for purchase and use by requestors who need this computing power.
Fees paid by buyers are primarily distributed to the users responsible for providing this computing power. The protocol operates by breaking computing power down into fractions, so that it is derived from multiple sellers. According to the network, this is the primary reason Golem operates as efficiently as it does, delivering computing power without any third-party involvement within a P2P network.
The Poland-based Golem was founded in 2016 and launched in 2018. Its native cryptocurrency, GLM, is used by requestors to purchase computing power and to pay sellers. GLM runs on the Ethereum blockchain network, enabling it to be traded and swapped on-chain with other Ethereum-based digital assets. GLM price is updated and available in real time on Binance.