What is Golem (GLM)? How to buy GLM Crypto in India?

What is Golem (GLM)?

Golem is a decentralized network marketplace for users to connect, supply and rent each other’s computational resources. The network aims to combine unused computational resources globally in one supercomputer and offer them to needed users for cheap as an alternative to traditional cloud services. The peer-to-peer network allows software developers, scientists, universities, startups, and others to leverage the Golem network’s computing capacity for machine leading, CGI rendering, and other heavy computing processes through the Golem marketplace.

GLM is a native utility token of the Golem network used to facilitate P2P transactions and rent payment of digital resources by the Requestor in the marketplace. Requestors are users who want to access network digital resources and pay for them. The users providing or selling the digital resource are known as Providers.

Who are the Founders of Golem?

Golem was founded in 2016 by Julian Zawistowski, Aleksandra Skrzypczak, Andrzej Regulski, and Piotr Janiuk. The idea of Golem was first presented in DEVCON0, 2014, followed by the project’s crowdfunding in November 2016. The network became live in 2018 on Ethereum mainnet and was named Brass Golem.

In 2019, the team started working on redevelopment and the new architecture of the platform to build a comprehensive platform for distributed computing with a user-friendly interface and launched it in 2020.

How does Golem work?

The Requestor and Provider are specific pieces of code running on Internet-connected devices. Requestor agents are required to define their resource requirements, such as CPU or memory, in the Requestor code and announce it on the Golem marketplace. Once Provider offers and Requestor demands are met, an agreement is signed between them. Then, the Requestor is given access to resources from the Provider’s side through the Golem network. At last, the Provider generates the bill in GLM tokens, which Requestor pays for resource usage.

Anyone can run Provider and Requestor agents as per their need providing they fulfil device specification requirements. 

What makes GLM Unique-Use Cases?

• Golem networks take advantage of spare computational power when the hardware is not in use, collect them, and offer them to needed users at low costs.
• Golem is an open-access, borderless platform, and censorship-resistant protocol that enables users to connect and share digital resources to earn rewards.
• The network settlement uses an Ethereum layer-2 solution to provide users with cheap transactions.
• Users can participate in any active part of the Golem community to earn GLM rewards.

Golem (GLM) Price Analysis

Source: TradingView

• The GLM price today is trading at $0.2096, with a 24-hour trading volume of $2,457,813. The GLM price has dropped about 2.80% in the last 24 hours. The market cap of GLM is standing at $209,558,155 as of May 22, 2023.
• GLM has been continuously declining for the last couple of months, amid a downturn in the overall crypto market.
• The price is currently near its recent support of $0.0203 and can possibly form a golden cross on the daily chart in a few days pulling the GLM price upside. 

How to Buy GLM Tokens in India?

To buy GLM Token in India, just follow the below-mentioned steps:

• Download the CoinDCX App on your Smartphone
• Enter the details required for registration.
• Complete KYC
• After your profile is verified, fund your wallet and buy a GLM