Golem$GLM

What is this network?

The Golem Network is a decentralized marketplace for computing power. It consists of a network of nodes that implement the Golem network protocol. The nodes in the network can act as providers or requestors. Both the requestor and the provider share the same implementation of the Golem daemon. The platform’s goal is to bring buyers and vendors together, meaning a typical user might generate passive revenue by renting out their extra computing capacity.

How can I mine tokens?

The Golem Network doesn't rely on traditional mining or staking because Golem currencies were pre-minted, which implies that all Golem coins that should exist are already in circulation. However, users can earn GLM tokens, the utility token of the Golem network, by providing their computational resources. The Golem Network introduced Thorg, a mining app that allows users to get involved in mining in an easy, intuitive, and non-custodial way, featuring Layer 2 payments built on Polygon. Users can start mining using their GPU and earn GLM tokens.

How can I optimize my mining rewards?

Optimizing mining rewards on the Golem Network involves providing more computational resources. The more computational power you provide, the more tasks you can complete, and the more GLM tokens you can earn. It's also important to note that the Golem Network uses a reputation system, so consistently completing tasks and releasing payments on time can improve your rank and potentially increase your earnings.

How can I use the network?

To use the Golem Network, you need to install the Golem Software on your device. Once installed, your device combines with others into peer-to-peer (P2P) nodes. Your device will need to stay online and available 24/7 for a potential customer. When a customer purchases the abilities of a unit, their processing is distributed for all PCs in the node. If you are available for a moment, then calculations are undertaken, and you’ll be rewarded.

Who governs this network?

The Golem Network is governed by Golem Factory GmbH, a company construed under the Laws of Switzerland. However, the contractual relationship arises only between the Provider and the Requestor, and the Company does not form any part of such relationship.

Funding

The Golem Network was funded through a token sale in 2016, where the team sold eighty percent of the native token’s available supply. During this auction, they generated about $8.6 million worth of ETH tokens.