The Golem Network Token

Last Updated: 19 February 2024

We have advanced to a level where people who have never met each other can collaborate to handle computing tasks efficiently. Also, these smart platforms allow remote trading and exchanging computing resources in different ways. That is what Golem is about, and more.

A Dynamic Platform

The Golem software is designed for everyone who wants to participate in a market space where they can purchase computing resources with cryptocurrencies. It is a secure platform that you can use to significantly increase your crypto assets if you have computing resources that people need.

Using the platform is easy. The developers aim to make it user-friendly so new investors can find fast tools to handle simple or complex issues. All they have to do is use their crypto to pay for access to these computing tools.

How Golem Gained Popularity

Golem is one of the first software tools to be introduced into the Ethereum network. Considering the vast nature of the Ethereum network, it is not surprising that the software has quickly become popular among users and crypto traders in the Ethereum community. That is not all; other users have come from outside the network to leverage the essential Golem features which can help them.

Also, the developers who manage the software have successfully diversified the functions to allow a wide range of tasks, which can be done quickly. Therefore, more people who have crypto for use as payment are attracted to pay for computing services accessible via Golem. Check out the useful Ethereum Wiki Page

Services Accessible Via Golem

Here are some of the common services people pay for through the platform:

  • Cryptocurrency mining
  • CGI rendering
  • Remote computing tasks
  • Smart contracts
  • Tasks involving the use of artificial intelligence

The Golem Native Currency

Another reason why the Golem community is thriving is due to the acceptance of their native currency. For all transactions and services you render using the software, you will be with the Golem Native cryptocurrency.

This is what sets the software apart. Over time, as the number of users increased, the value of Golem Native crypto, also abbreviated as GNT, has significantly increased. More people now recognize it in the market space.

According to the reviews, many users compare Golem’s features to the common cloud computing services. But in this case, you give or receive payment in crypto.

How it Started

We first heard about the Golem software in 2016. It is the main project managed by the Golem Factory, a renowned software development company. The developers and co-founders include Andrzej Rgulski, Piotr Janiuk, Aleksandra Skrzypczak and Julian Zawistowski.

They successfully launched a fundraising campaign that generated up to 820,000 ETH. The company raised funds by selling 82% of its GNT stock to the public. We have seen significant growth in the company’s value since then, which we attribute to the well-managed platform that remains a consistent source of computing resources.

How it Works

It is basically about connecting people who need computing resources with others who want to sell. The person who needs the service is referred to as the requestor. Therefore, sellers advertise their services to requestors.

This is how it works- the requestor navigates to the task template platform. There they can put in requests for specific computing tasks. After establishing a request, the system matches their entry with available services. Then the requestor makes payment in crypto, and the task starts.

It is an excellent system for people who may not have the time or resources to handle elaborate computing tasks. For example, instead of spending all that time to complete a CGI rendering task, you can outsource it to professionals via Golem. They will handle the job quickly and efficiently.

Features of the Task Template

The process of executing projects on the Golem platform is fast because the template task template has a unique design. It features every computing information needed to complete the task. That means the requestor has a perfect template which they use to provide essential information that the executor needs to do the job. This saves time and increases efficiency.

In addition, requestors are allowed to create custom task templates. This allows them to add features that are specifically for their unique projects.

The features of the task template include;

Defining the Source Code

It is essential to provide the exact source code needed to handle the job. This is an essential part of the project, which the requestor must enter before they complete their part.

Creating sub-tasks

Instead of trying to handle one major project at a go, it is best to split the processes into sub tasks. This allows the professional handling the job to work faster and to do performance checks to ensure they are on the right track. After dividing the project into sub tasks, the system allows you to send the data to different nodes.

After completing the sub tasks, the system takes over, matching the project with a professional who can do the job effectively.

Verification Template

To ensure that the completed task is accurate, there needs to be a verification template. This allows the requestors to confirm that the job is satisfactory before they accept it.

Task Grading

Requestors can use the grading report as a guide for future tasks. After Golem sends the completed project to the requestor, the system assesses the requestors and the seller’s conduct. The grading system allows the users to understand the system better. Also, the developers can find lapses or bugs in the system, which they address promptly. For example, if defective nodes stall the process during a project, the system detects and sends a report. This allows the developers to resolve the issue.

Also, sellers who consistently deliver low-quality jobs that do not pass verification will be removed from the platform. On the other hand, requestors who send in projects riddled with errors that complicate the sellers’ task will be screened out after warnings.

The ranking for sellers reveals the best teams to give projects. These sellers receive more requests because the system detects their high rating on the platform.

Organizing the Process

The developers who manage Golem have added unique features to help all users get maximum benefits through the platform. They can use any of these features easily because they are not complex.

Application registry

This is the platform in the software that features all the tools and computing resources available at any time. The requestors need to visit the application registry to find the right tasks that best match their needs. Also, sellers are allowed to submit their service descriptions on this platform. A seller can offer multiple services.

Golem has informed its community that in the near future, they will make provisions to allow the platform to accommodate more services.

Transaction Management

This portal features a guideline that allows the sellers to identify the type of requests that match the services they want to render. For example, some requestors only want a one-time service, while others may need to use a service frequently.

These features keep the system operations flowing seamlessly. However, the platform has a helpful team who are always ready to step in during disputes or if any user has issues with the features.

Building Golem on Ethereum

The Ethereum network has significantly boosted Golem’s growth in the market space. Because Ethereum is so efficient, the developers who manage Golem have no reason to start their blockchain.

Involving Ethereum has made it possible to process payments seamlessly. The financial transactions are also transparent and fair. Also, Golem relies on the ETH network to manage tasks, validate transactions, and compile subtasks before sending them to the requestor.

However, the Golem developers have made it known that things will be much better if the ETH network becomes more scalable. Then they can allocate resources according to the user’s specific needs.

How to Get Golem

The process is really easy. All you need to do is download the software online. You can choose between Clay Golem or Golem Unlimited, which are the brand’s two main products. Downloading any of these software gives you access to all Golem’s resources.

Clay Golem

If you choose to download the clay golem, you will be using software that is supported by one machine. Therefore, it is ideal for individuals who need to buy computing resources for personal projects.

Golem Unlimited

The unlimited version of the software is suitable for more elaborate projects. It is mostly used by companies or people with large-scale projects. Also, it supports computing settings that have several nodes available for rent. The company encourages people who have computers that are being underutilized to take advantage of their software and sell computing resources.


We expect more from Golem in the coming year. There is so much to look for. More people can get access to fast services via the software, and sellers can earn significant income daily.

  • Luke Handt

    Luke Handt is a seasoned cryptocurrency investor and advisor with over 7 years of experience in the blockchain and digital asset space. His passion for crypto began while studying computer science and economics at Stanford University in the early 2010s.

    Since 2016, Luke has been an active cryptocurrency trader, strategically investing in major coins as well as up-and-coming altcoins. He is knowledgeable about advanced crypto trading strategies, market analysis, and the nuances of blockchain protocols.

    In addition to managing his own crypto portfolio, Luke shares his expertise with others as a crypto writer and analyst for leading finance publications. He enjoys educating retail traders about digital assets and is a sought-after voice at fintech conferences worldwide.

    When he's not glued to price charts or researching promising new projects, Luke enjoys surfing, travel, and fine wine. He currently resides in Newport Beach, California where he continues to follow crypto markets closely and connect with other industry leaders.

error: Alert: Content is protected !!