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

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

What is Golem (GLM)? 

Golem is a decentralized system to distribute computing power to sell and buy computing power on a blockchain. Users can onboard themselves to trade computational power. The platform is powered by its native token GLM. The project was founded by the Golem Factory in 2016. The USP of the Golem network is that all users have equal authority on the network making it a decentralized platform for people to sell and buy computing power with ease. 

Who are the founders of Golem (GLM)? 

Golem Factory was founded by Julian Zawistowski, Andrzej Regulski, Piotr Janiuk, and Aleksandra Skrzypczak. Skrzypczak has over 10 years of experience in software programming. Julian has been the founder of the Institute of Structural Research and has been involved in the Golem Factory since its inception. Andrzej Regulski is the advisor of the project. He holds an M.A degree in Economics from the University of Warsaw. 

How does Golem (GLM) work?

Golem is a platform that speeds up the process of selling and buying computational power without any third-party intervention. The platform processes the computational power by dividing task requests from Requestors to Providers into smaller tasks. Once the distribution of computing power is transacted on the chain, the seller receives GLM tokens for his computing power sale.  

Key Attributes Golem

Fractional Task Distribution

Users on the platform receive their work in small amounts. This helps participants in sharing and trading computational power with those who require it.    

P2P computing

Golem’s truly decentralized network allows users to connect with each other and sell or buy computational power through direct on-chain interaction.  

Golem suit of tools 

Users can make use of Golem SDKs which includes Requestors and Providers tutorials. Golem also offers a wide range of tools like Execution Environments (eg. Wasm, VM, SGX stack) for the ecosystem developers. 

 What sets Golem apart? 

Golem has a vibrant community of developers and users. Besides having a strong p2p computational power distributing system. Golem also incorporates a Transaction Framework and an Application Registry to allow users to choose from a greater number of tasks, making the user experience personalized as well as decentralized. While there are some projects that offer computational power trading on p2p, Golem stands out for its easy-to-use interface and customizable template required for requesters on the network.  

How to buy Golem (GLM) in India 

Use this three-step process to buy your first GLM Money using the CoinDCX crypto investment app

  • Sign Up for the CoinDCX account: Enter a valid email address and a user name on the sign-up page. Once the Email Id has been verified, set a strong password to secure your account.
  • Verify the account: You need to complete your KYC, to buy GLM  on the CoinDCX platform. All you need to do is upload the documents and your account will be set up in 15 minutes.
  •  Buy GLM: After the account has been verified, you can deposit any amount of fiat currency you are comfortable with and start your crypto journey!
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