Golem

Golem is a decentralized computing marketplace where users can rent out idle CPU and GPU power to those who need it. Having held its token sale in 2016, the project is one of the first-generation applications on Ethereum. GLM is the payment token of Golem Network under the Ethereum token standard and replaced the old GNT token in 2020.

The network has two core roles: requestors, who need computing power, and providers, who open their machines to the network. Requestors submit tasks such as image processing, scientific computing or artificial intelligence to the network; providers run these jobs in isolated environments and receive payment in GLM in return. To lower transaction costs, payments can be made on Polygon as well as on the Ethereum mainnet. The software of Golem is open source, and its development is carried on by Golem Factory.

The course of GLM may be sensitive to the size of genuine computing demand reaching the network, competing projects that offer decentralized compute for artificial intelligence and changes in centralized cloud pricing. On the Lzzo.com page, the Golem price is calculated by converting the GLM/USDT pair on Binance into dollars at Coinbase Exchange's USDT/USD rate; the chart shows this dollar-based series.