Currencies > Golem (GNT)

Golem (GNT)

What is a Golem (GNT)?

Over the past five years, cloud computing has spread around the world. It has come to mining, too. Companies acquire certain capacities and rent them out for file storage, application launch or other purposes. In some ways, something similar is the Golem project which has held an ICO recently. However, in the case of it, everything is much more global, so read further if you want to know how to invest in Golem.

Golem was created in 2016 and founded by a Polish engineer. The idea was to create the world's most powerful decentralized P2P network and use its capabilities for cloud computing, including mining. It is a kind of huge, the most powerful supercomputer in the world, capable of performing tasks of millions of users at the same time.

The idea was born thanks to the statement that most PC owners do not use the potential of the processor at full capacity. Yes there is, in most cases, the CPU load is minimal. And given that a considerable number of computers are turned on at night without any special load - it turns out a waste of a huge amount of electricity. Golem offers users to lease unclaimed capacities and receive a reward in the internal cryptocurrency of the system. It is impossible to mine these coins.

What are the advantages of the Golem cryptocurrency?

  • Demand among users. A huge number of users need cloud computing to solve their own problems. Using the capacity of thousands of computers can be more profitable than renting a similar equipment from a specialized company.

  • Easy money. For landlords, this solution is also beneficial. If your computer is constantly turned on, but used for minimal tasks, you can give unclaimed power to rent and receive a corresponding reward.

  • Guarantee of payment. The Golem cryptocurrency is based on the Ethereum blockchain and uses smart contracts. At the beginning of capacity utilization, a smart contract is concluded either for a certain amount or for payment for the period of operation. As soon as the user disconnects from the network, the price in Golem coins will be automatically calculated and debited from his account.

  • Ample opportunities for use. On the Golem project, users will be able to rent power for various tasks, including mining, computer graphics processing, machine learning, analytical tasks. Versatility significantly increases the commercial attractiveness of the project, so the question “How do I invest in Golem” is quite popular.

Where to store the Golem?

For Golem, a universal token ERC20 was used. Accordingly, the cryptocurrency can be stored on any wallet that works with this technology. The most common option for users is the official Ethereum wallet - MyEtherWallet. It has a wide functionality and provides excellent protection of user information.

In addition, multi-currency wallets working with the Ethereum blockchain can be used as a Golem storage. For example, they include Jaxx, Atomic, Exodus. You can also keep the coin on the hardware crypto-wallet Ledger Nano 5.

How to buy the Golem tokens

The largest volume of transactions with Golem takes place on the little-known cryptocurrency exchange BitHumb. Here it is sold and bought mainly for the South Korean won - you can see the current Golem crypto price there. The total amount of transactions is $ 24 million, which is equivalent to a share of 37% of all trades. You can buy the Golen token for fair price at better known venues. For example, at Upbit, Golem is also traded mainly for the South Korean won, and on Binance and Bittrex the coin can be purchased or sold for BTC or ETH. You can refer to Coinmarketcap to have an idea of the Golem coin future price.

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