There is so much untapped computing power in this world. Even you, dear reader, only use that graphics card a fraction of the time. As you’re reading this, its engines are sitting idle, waiting to be harnessed. Since Bitcoin mining has become the preserve of mining ‘factories’, with weaponized batteries of ASIC mining computers, perhaps there is another way that the unused power of your home PC can be utilized? Indeed there is. The Golem Network is a decentralized computing network that aims to put your redundant cpu power to use, by letting computational-hungry companies and individuals use it on demand, and pay providers a fee for doing so.
A Short History of GLM
Started in Switzerland back in 2016, Golem Network aims to be both proxy free and censorship resistant. Back then, the token was called GNT, but developments over time caused the team to realize that a new architecture was needed. Having built it, they enabled the swapping of all* GNT tokens at a 1:1 ratio to the new token that is in use today, GLM. The GLM token is used to pay for the services provided by the Golem Network, with proceeds distributed to those providing the computing power to the users demanding it. The network has applications built onto it that users can run. Computations are calculated in a sandbox in order to protect the host device.
*it should be noted that, to date, not all GNT have been migrated to GLM, as wallet owners must process the migration themselves.
The Advantages of Decentralized Computing
Buying computing power off a third-party is hardly a new idea. Amazon does it all the time with their AWS. However, the mark up on that computing power is high and can make certain projects non-viable to pursue. The Golem Network’s hope is that by harnessing a vast, distributed computing network, the ultimate price to the consumer would be massively lower than even the largest corporation would be able to provide. The opportunity to provide power would not only come from individuals hoping to put some old hardware to use, but also from large data centers who can really pump the network – with the proviso that those same centers can’t then flick the switch or jack up the prices once they have their demand monopolised.
By doing so, the competitive edge gained would be enough to begin stealing market share from these behemoths and, better yet, spreading that market share liberally across the many thousands and ultimately tens of thousands of users providing power to the network. It’s a relatively utopian dream, but other than commercial and retailer uptake and the momentum of adoption, there isn’t too much that stands in the way of it being a reality. This democratization of computational power leans into the pillars of blockchain with the idea that no one entity can switch off the supply when they, or perhaps a national government, feel that the project being worked on is not to their liking.
What is GLM Used For?
GLM is the currency that users who want to use the network’s computing power must pay in. So far, there are limited applications on the network, but they are growing. Moreover, constant upgrades have been coming in. The new GLM token is an ERC-20 token built on Ethereum. You will need an ETH payments app therefore to hold it. If Golem can continue to build its application base and offer a viable and smooth alternative to big players like AWS, and also continue to leverage both its price-advantage and decentralized selling points, then there is every chance it could provide the longed-for distributed processing power and further push our technological future into the hands of the everyman.
Is GLM Hard to Get?
If you are new to the world of digital assets then getting cryptocurrencies can be a confusing prospect. It may be a bit simpler with the top two Bitcoin or Ethereum, but what about that lesser known Ethereum token, such as GLM, that you have heard so much about?
Numio is a great choice for GLM. With Numio you can send and receive your stored GLM instantly and at the touch of a button. If you want to try something a bit more advanced you can use Numio to trade and swap GLM.
How can I get GLM?
Getting GLM is easy on Numio. You can use your credit or debit card to purchase ETH or USDC, which can then be exchanged for GLM *, you can swap or trade it for other ERC-20 tokens (up to 100x cheaper than other wallets), and you can send or receive it as a payment. Whatever way you choose you can be sure that you are always in full control of your GLM .
*direct GLM purchases coming soon.