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What is Golem?
Golem is a decentralized computing platform that operates as an open-source, peer-to-peer marketplace for computing resources. It allows users to exchange computing power for GLM tokens, leveraging idle computing resources across its network.
The operational mechanism of Golem involves breaking down tasks into smaller subtasks and distributing them across multiple providers for parallel processing. This method enhances efficiency and accelerates the completion of complex computations. Golem serves as a decentralized market for computing power, functioning as both Infrastructure-as-a-Service (IaaS) and Platform-as-a-Service (PaaS), with the addition of dedicated software integrations through the Application Registry and customizable payment mechanisms via the Transaction Framework.
GLM is required for conducting transactions, including payment for computations. Requestors bid in GLM for computing tasks, while Providers earn GLM by completing these tasks for Requestors.