Through Golem, one of the first projects on the Ethereum network, renting and paying for computing power has never been so simple and decentralized. Golem was proposed by Golem factory in 2016 and launched on the second largest network two years later, providing a point-to-point market for on-demand computing. The main purpose of this project is to provide computing power of various projects for users who do not have enough computing power.
Compared with the centralized mode of providing the same or similar services, golem is tapping the potential of the decentralized P2P market and providing a way to control our payment, lease and use of computing resources. Through blockchain technology, Golem has realized democracy and decentralization, and created an ecosystem where users can purchase and sell computing power for various projects, including artificial intelligence and cryptocurrency mining.
Interested in Golem (GLM), but not sure what it is, or even where to start? never mind. This guide is designed to teach you everything you need for the project and prepare you to jump into the most friendly trading experience in the market.
How to Use Golem
Golem’s ultimate goal is to provide a better environment for data sharing in the future Web 3.0 ecosystem, so that users can have more control over the way they use the Internet. The Golem network can be used to purchase and sell computing power for various purposes, while developers can deploy tools and use task templates to diversify the market.
GLM tokens are used in the reward system to motivate sellers, i.e. suppliers, and represent the main payment methods and value storage of the Golem network. GLM can also trade in the cryptocurrency market to make profits.
How Do I Choose a Golem Wallet?
As an ERC-20 token, GLM can be stored in any wallet that supports Ethereum. The type of wallet you choose may depend on what you want to do with it and how much you need to store.
Hardware wallets or cold wallets, such as ledger or trezor, provide the safest choice for storing cryptocurrencies, which can be stored and backed up offline. However, they may require more technical knowledge and are a more expensive option. Therefore, for more experienced users, they may be more suitable for storing a large number of GLMs.
The software wallet offers another option that is free and easy to use. They can be downloaded as smart phones or desktop applications, and can be managed or non managed. For safekeeping wallets, the private key is managed and backed up by the service provider on your behalf.
An unmanaged wallet uses the security element on your device to store the private key. Although convenient, they are considered less secure than hardware wallets and may be more suitable for a small number of GLM or more novice users.Online wallet or online wallet is also free, easy to use, and can be accessed from multiple devices through a web browser. However, they are considered hot wallets and may be less secure than hardware or software alternatives.
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