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Golem Network releases Yagna v0.16.0, introducing deposits and new ecosystem roles, indirect payments, and enhanced error handling. (Read More)
The Ethereum price has fallen by around -25% since its mid-March peak at around $4,100 and is currently trading just above $3,000. While this loss is in line with the broader market trend and in particular Bitcoin’s price drop of about -22% in the same time, there could be another reason for ETH’s price slump, which seems plausible since the German government only sells BTC and not ETH, and Mt. Gox doesn’t own any ETH either. But what if Ethereum has its very own Mt. Gox“? Is The Ethereum Price Suppressed By Golem? Chinese crypto journalist Colin Wu (@WuBlockchain) first reported via X on the significant movements of ETH funds by the Golem project, an Ethereum-based project that conducted a notable Initial Coin Offering (ICO) in 2016. According to Wu, “Golem, a project that raised 820,000 ETH in ICO in 2016, has transferred 36,000 ETH to Binance, Coinbase, Bitfinex, etc. in the past 37 days, worth about $115 million.” On-chain analysis service Lookonchain further revealed the extent of these transactions via X: Golem has sold 24,400 ETH ($72M) on Binance, Coinbase and Bitfinex in the past 3 days, and currently holds 127,634 ETH ($372M). Golem raised 820,000 ETH through ICO in November 2016, when the price of ETH was only $10.2. Related Reading: Justin Sun Potential $66 Million Loss Revealed As Ethereum Price Declines The Golem ICO was an early and significant event for the crypto industry which took place in November 2016. Golem aimed to create a decentralized supercomputer by harnessing the combined computing power of users’ machines, from personal laptops to entire data centers. The idea was to allow users to rent out their computing resources to others. In its ICO, Golem raised approximately 820,000 ETH, which was valued at around $8 million at the time, in just 29 minutes, becoming a symbol of the ICO bubble. This funding was supposed to be used to develop the Golem network. Despite its ambitious goals, Golems market relevance has significantly diminished, with its token now trading at just $0.32 (#151 by market cap), a stark decline from its peak price of $1.32 in January 2018. Harsh Criticism From Crypto Experts Criticism has been vocal among industry leaders. Adam Cochran, a partner at CEHV, expressed his displeasure via X: “Absolute bastards. Sat on their ETH for ages doing nothing. And here we are in the era of demand for distributed compute and they cant even be relevant.” Related Reading: Doomsday for Ethereum? A Crash Down To $1,500 Is Coming, Says Skeptic, Heres Why Similarly, Jimmy Ragosa, an advisor at Sismo, sarcastically remarked, “Yes, Golem has been dumping on us. But, at least, they are using these 100s of millions of dollars to build critical scaling infra and widely adopted apps, right?” Another perspective came from @based16z on X, who speculated on the rationale behind Golem’s actions, “Say what you want about Golem, but theyre not exactly a gambler. For them to dump 700 million dollars in ETH after 7 years, I assume they know something.” How strong the influence of Golem sales is on the ETH price remains pure speculation. However, it seems clear that the constant selling pressure has probably played at least a certain role in the Ethereum price slump. At press time, ETH traded at $3,049. Featured image from Shutterstock, chart from TradingView.com
Golem Network announces an updated AI/GPU roadmap focusing on market-validated initiatives, enhancing GPU resource supply for AI industry needs. (Read More)
Golem Network introduces Golem-Workers API, offering high-level access to GPU and CPU resources, catering to diverse computational needs beyond AI model deployment. (Read More)
Golem Network announces golem-js 3.0, featuring modular design, new models, and budget estimation. The update aims to improve developer experience and ecosystem decentralization. (Read More)
Golem Network introduces Modelserve, a scalable and cost-effective AI model inference service designed for developers and startups. (Read More)
Golem Network begins ETH staking tests to bolster its decentralized computing platform and support the Ethereum ecosystem. (Read More)
the Golem Foundation has staked 98,016 ETH (equivalent to $183M) into Ethereum's Proof of Stake (PoS) system, as reported 12 hours ago. (Read More)
Many cryptocurrencies recorded price fall in the past 24 hours. For instance, Bitcoin prices have fallen by 1.65% in the past 24 hours. Even though the 7-day gain shows a 3.23%, the current level is not encouraging. Ethereum hasn’t fared well, either. Its 1-hour trend shows a 0.99% loss, while the 24 hours level indicates a 1.76% fall. Looking at ETH 7 days price movement, the crypto has lost 7.02%, which is surprising given the hype around the Merge. Related Reading: Displaced ETH Miners Seek Refuge In Ethereum Classic, Ravencoin Tether USDT shows all red in 1 hour, 24 hours, and 7 days gain. Many other altcoins also in red include USDC, BNB, XRP, ADA, SOL, Dogecoin, etc. But amid these recent woes, Golem GLM has pushed past expectations. Golem GLM Leads in 24 hours Price gains Golem has seen a price push within the past few days. Currently, GLM price sits at $0.3583, indicating a 14.76% price gain in 24 hours. Watching its movement on the trading chart today, September 15, the coin has been increasing steadily since the market opened. Apart from adding more in its 24 hours price growth, Golem GLM is also encouraging investors with its 7 days price gain. It has added more than 20% growth in one week. This growth level is above many altcoins, besides Ravencoin. The coin also has a high 7 days price growth but is in red for both 1-hour and 24 hours growth. Golem Price Grows, What Could Be The Reason? On September 12 and 13, the Golem price pushed higher, showing a 55% price increase in 24 hours. The coin, previously struggling between $0.276 and $0.281, spiked to $0.4054, sending the market into a buying frenzy. September 14 saw the price move down to $0.345. But GLM is currently adding more as trading continues on September 15. There’s hope the crypto might reach September 12 and 13 levels again. This fast growth has made market watchers wonder about the possible reasons. The recent spike in Golem might be linked to the announcement of new hires. According to its Twitter message on September 6, the network is adding developers to its team, indicating expansion. It also announced that new hires would earn between $3K and $10K monthly, plus other priceless life-changing experiences. The community head, Mattias Nystrom, even stated that the developers could choose a currency they want for their payments. Should Investors Go Bullish? This announcement might have caught investors’ interest in adding funds to a rapidly expanding network. But some analysts advise waiting a bit before going bullish on the crypto. They expect a 78.6% Fibonacci retracement level, the next level of support that might underpin GLM price at $0.3275. Related Reading: AVAX Price Rebound Fails To Breach $22 Resistance Due To High CPI Data For now, the resistance is at $0.3746 and $0.4079. Investors can buy until the $0.4413 and $0.4820 price levels if the coin breaks above these levels. Featured image from Pixabay and chart from TradingView.com
Golem Price Prediction for the future shows that it is a profitable investment that provides a good return for the long term. Golem GLM is expected to be worth $0.77 in five years, which is around three times its present value. Invest on the drop and wait for price adjustments, according to experts’ predictions. What […]
Golem Token (GLM) is an Ethereum token that allows users to use the Golem protocol to pay for and receive resources. Golem is a software that encourages people to run a marketplace where computational resources can be bought and traded for cryptocurrency. The protocol’s goal is to allow network participants to lend their computer’s extra […]
In this article, I have picked five most promising utility tokens that do not require massive investments at the moment but can turn out to be a lucrative asset in the future. (Read More)
Golem uses cloud computing to build a distributed supercomputer.
Continue reading Coin Healthcheck: Golem (GLM) at DailyCoin.com.
Since Bitcoin is a shiny gold that appreciates over time and beats inflation always, the question to ask is why not everyone sets up mining rigs and mine Bitcoin, instead of buying them from an exchange. Well, the answer for the same is the cost involved in mining BTC and other PoW cryptocurrencies. As a result, industry-centric mining rigs with a very high hash rate have been mining the majority of the cryptocurrencies and retail miners have turned marginalized over the years.
What if there was a way to deal with this problem? Or, put better, what if the community could jointly share resources and establish true decentralization on which all cryptocurrencies stand. That’s what the Golem Network aims to achieve and it has been striving towards its fulfillment.
What is the Golem Network and GNT Token?Golem is a cryptocurrency-powered software ecosystem where computational resources can be bought or sold for cryptocurrencies, especially, the GNT token. The ecosystem establishes a democratized cloud computing environment where hardware can be purchased online through a sharing economy and put to use for meeting various purposes. Like a supercomputer, Golem performs CGI rendering, AI, and crypto mining. In this way, most of the computational power which remains unused can be shared by the owners with others in exchange for GNT Token.
GNT is the native token within the Golem ecosystem which will streamline all operations of sharing, buying, selling, and renting in the Golem ecosystem.
Note: In a recent token migration, GNT Token has been renamed as GLM Token.
How Does The Golem Network Establish a Shared Economy?Golem’s ecosystem’s motive is to provide an open-source workable ecosystem model which is highly flexible, programmable, and connects to the end-users on a personal level. Through the Golem Network, a wide array of tasks can be performed like CGI rendering, Machine Learning, scientific computing, and token mining. In the workable model, the requester needs to submit a task that will be matched by the sender. Once that is established, the sender will share the computational resources on-chain over the network.
For example, if Alice has a large mining rig with an 800 m/H speed; however, Alice could use just 600 m/H. To maximize the mining potential of the set-up, Alice could lend the additional 200 m/H of computing power to Bob through a shared mining pool. For the same Alice will raise a payment note and Bob must pay in GNT tokens for such a service. In this way, despite Bob not having a mining set-up, he could easily mine BTC using Alice's computational power. That’s the whole point of Golem Network, to establish true decentralization.
Why is GNT Token a Revolution?GNT token has turned revolutionary because the ecosystem has been diversifying use-cases ever since its inception. Not just empowering the mining, but also other aspects. In the latest release, the Golem Network has introduced 3D rendering. Through the help of the 3D rendering, all those artists, creators, and animators who couldn’t complete their project due to restrictive computational power costs could use the Golem Network by paying those who own such resources through the GNT token and complete their projects.
GLM Price Prediction - What is Happening to Golem Crypto?GLM token has shown mixed reactions on the charts for the last few months. We did see double bottom formation at the .28 and .27 price levels. However, the market did pick up from 0.49 price levels.
Pic 1. Break out from the resistance levelIf we look at the trading volume in the last 24 hours, it is well over 574%.
Pic 2. Daily Trading VolumeHowever, we do see a descending triangle forming at the 0.62 and 0.56 price levels which could show that we might see a further downside in action where prices may drop to as low as 0.48 level. However, to invalidate that claim, support should form somewhere at the .50 level which could possibly see the next resistance at the .62 levels.
Pic 3. Descending triangle pattern Where to Buy GNT Token?Since the GNT token migrated to GLM, there are not many exchanges that still sell this old token. You would find GNT on DEXs such as LBank, Apeswap, and Hotbit. On the other hand, the volumes traded are very low. That's why it would make more sense to buy GLM instead.
Where To Buy GLM Token?There are many exchanges that offer the Golem GLM token. We picked the safest exchanges below:
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The post Swap your GNT token to GLM TODAY – Get to know all About Golem Crypto! appeared first on CryptoTicker.
Golem Network, a flexible, open-source platform that seeks to offer democratized access to digital resources, has launched an app that allows anyone that owns a laptop to mine crypto. The company unveiled this news through a blog post on September 23, noting that the app is dubbed Thorg. Reportedly, Thorg runs on the Golem Network, and it lets users mine Ethereum (ETH/USD) in an easy, intuitive, and non-custodial manner.
According to the blog post, Thorg lets Windows users compute tasks to create shares. The network then uses these shares to mine ETH. While the app mines ETH, users will earn the Golem token (GLM/USD). Golem Network then makes payments through a Layer 2 Polygon payment driver. This payment driver helps minimize any high transaction fee associated with the ERC-20 GLM token.
Per Golem Network’s CEO, Piotr Janiuk, this launch is part of the project’s goal to harness more use cases. According to him, Thorg is a way for the company to show its progress in multiple technical development areas and test them before availing them to end-users and the ecosystem’s growing number of developers.
Janiuk added,
The Thorg implementation aids as well, in improving the Golem market: the mining use-case opens new ways of achieving a healthy and efficient market by providing additional tools for optimizing passive income with Golem.
Thorg’s requirements might limit the user baseThe minimum requirements for running the Thorg application are a Windows 10 operating system and a graphics card that features 6GB of RAM or more. These requirements limit PCs that can handle the application to high-end gaming laptops, which are relatively expensive. It is also worth considering that a graphics card with 6GB of RAM will only produce approximately 26MH/s.
As such, the mining proceeds will be marginal after factoring in the laptop’s power consumption. Per mining calculators, mining with a PC that features a 6GB graphics card can generate a daily yield of around $0.06 (£0.044). With such returns, it would take over three months to get $6 (£4.38) from mining ETH, according to Coinwarz, an ETH mining calculator. Although the rewards depend on how powerful a graphics card is, they still can’t match someone using a mining rig.
To ensure no one feels left out, Golem Network noted that one does not necessarily need high-end GPUs to produce shares and earn GLM. The company noted that it is working on integrating CPU computations into Thorg.
While Janiuk believes this development will help expand the Golem ecosystem, GLM is bleeding after losing 4.29% over the last 24 hours to change hands at $0.4683 (£0.34), at the time of writing.
The post Golem Network rolls out an app to let users mine ETH on laptops appeared first on Invezz.
Mining Ethereum on a home PC can be done, but profits will be few and far between.
Golem Network introduces the golem-js 3.5 update, offering enhanced features for JavaScript and TypeScript developers, marking a significant step in its ongoing development. (Read More)
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