In recent weeks, Golem’s (GLM)’s price saw a solid rally that skyrocketed the token to a 3-year high at $ 0.65.
The altcoin saw a solid rally on February 19, but most of the gains vanished as Bitcoin (BTC) corrected below $ 45,000 in the past days. Without confiscation, GLM still has a 230% in February.
Golem is a decentralized Ethereum application that lets users transfer potential computing power. Since November 2020, the plan has centered on migrating from GNT to the GLM token after integrating a new ERC-20. Although most exchanges reflected a supportive stance on the move, it is still possible to find GNT activities and listings.
Golem serves as a provider for a processing scope in the Frank code stack for both applications and logs and transactions. Anyone can share and paste potential computer scientists, as well as create applications with the network. Some alternatives also aim to challenge the traditional centralized cluster services like Amazon AWS.
The Golem ICO was circumscribed in November 2016, raising $ 8.6 million for 820 million GMT tokens. The plan’s Golem Manufacturing unit foundation held 180 million tickets, with early collaborators and team members.
According to Golem, a transaction system arranges payments between vendors, applicants, and software package developers. All calculations go through a solitary confinement environment to create a defensive barrier and protect the host device.
According to the Golem Plan site, its approach to batch transactions protects users from the congestion of the crimson Ethereum and excessive gas prices. Layer 2 scalability already appears as an offer on the mainnet using Make a difference Labs’ zkSync.
Partnerships Support Golem’s Uptrend
The Golem Gitcoin Hackaton 2020 results included a creative understanding called GLM-stake-pool. The agreement allows GLM token holders to earn returns by wagering LP tokens from Uniswap.
On February 17, Golem even revealed a new testnet boost called Alpha IV. The modernization allows users to configure long-term tasks in the circumscription of the regular payments after use. The platform even allows users to collect funds without setting up an account.
On February 23, Polygon (MATIC), formerly known as Matic Community, announced that it would join forces with Golem to produce an off-chain run-time compensator. This partnership aims to provide a long-term alternative to avoid costly Layer-1 transactions.
There is a Robust Increase in Active Addresses and Transfers
According to Golem’s worldwide-web migration site, 44%
of the whole supply has turned into GLM. On-chain data shows that activity soared on February 19, reaching 1,839 daily active addresses. Interestingly, the same day GLM’s price traded at $ .65, the most halting level in three years.
The average cryptocurrency trader is practically unreachable to assess how Golem’s alternative shares some similarities to Amazon AWS and the other service providers. Until then, the GLM token’s superiority seems limited until confirmation through use cases in the authentic world.
By Jenson Nuñez
