Golem is a decentralized network for sharing computing power that allows users to rent out their idle computing resources or use other people's computing power to perform intensive computations on a pay-per-use basis moreGolem is a decentralized network for sharing computing power that allows users to rent out their idle computing resources or use other people's computing power to perform intensive computations on a pay-per-use basis. The Golem network is built on top of the Ethereum blockchain and aims to become a global supercomputer that can be used for various purposes, from rendering CGI animations to running scientific simulations.
The benefits of Golem include:
1. Cost-effective computing: Golem enables users to access computing power at a much lower cost than traditional cloud computing providers. This is because users only pay for the computing resources they use, rather than renting a whole server even if they don't use all of its capacity.
2. Decentralization: Golem is a decentralized network, which means that it is not controlled by a single entity. This makes it more resistant to censorship, hacking, and other types of attacks that could compromise the integrity of the network.
3. Accessibility: Golem allows anyone with a computer and an internet connection to participate in the network as a provider or a user of computing resources. This creates opportunities for people in countries with limited resources to tap into a global computing infrastructure and contribute to the network's growth.
4. Flexibility: Golem is designed to be compatible with various software and programming languages, making it possible for developers to run their applications on the network without having to rewrite them.
The GLM token is the native cryptocurrency of the Golem network and is used as a means of exchange for computing resources within the network. It can also be used to pay for transaction fees and other services provided by the network. GLM is an ERC-20 token and is traded on various cryptocurrency exchanges.
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