Golem (GLM)

Computing Power Marketplace

Golem lets users buy or sell unused computing power. People with extra computer resources can rent them out, while others can pay to use this power for tasks that need a lot of processing.

CGI Rendering

One of the main uses is rendering complex 3D animations and images faster and cheaper than using personal computers or traditional rendering farms.

Scientific Research and Machine Learning

Golem supports tasks like scientific calculations and machine learning by providing affordable, decentralized computing resources.

Software Development and Network Transactions

Developers earn GLM tokens by contributing software to the network. GLM is also used to pay for computing services and transaction fees within the Golem ecosystem.

Pros

• Golem offers a decentralized alternative to cloud computing, allowing users to rent out computing power at potentially lower costs.
• It supports fiat-to-crypto options for easier access to GLM tokens.
• The platform is open-source, which encourages transparency and community development.
• Golem contributes to the growing Web3 infrastructure, making it relevant in the evolving blockchain ecosystem.
• It provides customizable deployments and shareable links, enhancing user experience.
• Continuous technological improvements aim to increase speed, security, and reduce costs.

Cons

• The Golem wallet is currently mobile-only, with a desktop version still in development.
• The price and usage costs can be variable, depending on demand and network activity.
• Market capitalization is relatively small, making GLM price more sensitive to large holders ("whales").
• The project has experienced periods of low activity and social media presence, which may affect user confidence.
• Price predictions for GLM show mixed outlooks, with some forecasts indicating bearish trends in the near term.

For more details, visit the official website: golem.network

Founders of Golem

Golem was co-founded by Julian Zawistowski, Aleksandra Skrzypczak, Andrzej Regulski, and Piotr Janiuk in 2016. They started Golem Factory, the company behind the project, and launched the Golem Network in 2018.

Investors in Golem

• Venture Capital Firms: Fundamental Labs, CaptureAlpha, FutureMoney Group, A2DAO, and HyperChain Capital are some of the key venture capital investors in Golem.
• Institutional Investors: Golem has attracted a total of around 9 institutional investors, including Monday Capital.
• Seed and ICO Investors: Early funding rounds included a seed round with Nirvana Capital and a notable ICO round in 2016 that raised $8.6 million.
• Angel Investors and Syndicates: Various angel investors and syndicates, including some from Japan and Germany, have also supported Golem.

These investors have helped Golem grow by providing financial backing and strategic support.

Halal Status of Golem

• Yes, Golem is considered halal because its business model is straightforward and halal-compliant.
• It involves a clear value exchange where users pay for computing resources using GLM tokens.
• There is no involvement in prohibited industries or activities according to available Islamic finance assessments.
• The token is used to compensate providers for sharing computing power, which aligns with Islamic principles of fair trade.