What is GLM coin? Introduction to the issue price, total amount and white paper of GLM coin

GLM Coin, the native token of the decentralized supercomputer network Golem, was initially valued at $0.07 during its 2016 ICO.

Oct 13, 2024 at 08:06 am

Understanding GLM Coin

1. Overview
GLM (Golem) is a decentralized supercomputer network that leverages the spare computational power of computers worldwide. It enables users to access high-performance computing services on demand, reducing the need for dedicated hardware infrastructure.

2. Issue Price
The initial issue price of GLM was $0.07 during its initial coin offering (ICO) in November 2016.

3. Total Amount
The total supply of GLM is capped at 1,000,000,000 GLM.

4. White Paper
The GLM Coin White Paper, published by the Golem Project, outlines the technical details, use cases, and architecture of the Golem network. It provides insights into the tokenomics, security mechanisms, and governance structure.

Key Highlights of the White Paper

Problem Statement: High-performance computing is often inaccessible due to costly hardware requirements.
Solution: Golem creates a marketplace where users can rent out their excess computational power and request compute jobs.
Golem Token (GLM): The native token of the Golem network that serves as fuel for transactions and incentivizes network participants.
Protocol Architecture: Details the technical components of the system, including provider nodes, client nodes, and the interoperability layer.
Token Distribution: Outlines the distribution mechanism of GLM, including the allocation for pre-sale, ICO, team, and development.
Security Mechanisms: Discusses the security measures implemented to protect the network and its users.
Governance Structure: Describes the decentralized governance model of Golem, empowering GLM holders to participate in decision-making through voting.

Understanding the GLM Coin and its underlying concepts is crucial for evaluating its potential as an investment or tool for accessing decentralized high-performance computing services.

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