Golem (GLM)

Golem

Type	Token, a decentralized sharing economy of computing power
Ticker symbol	GNT
Total supply	820.000.000 GNT

Basics

• Started in: 2014. Had a token sale in 2016. The first release happened on March 1st 2017.
• Based in:
• Ethereum based
• “Golem is a global, open sourced, decentralized supercomputer that anyone can access. It's made up of the combined power of user's machines, from personal laptops to entire data centers.”
• “Anyone will be able to use Golem to compute (almost) any program you can think of, from rendering to research to running websites, in a completely decentralized & inexpensive way.”
• “The Golem Network is a decentralized sharing economy of computing power, where anyone can make money 'renting' out their computing power or developing & selling software.”
• Found a bug that would have potentially cost millions in exchange hacks.

History

• Started out with GNT as their token, but migrated to GLM on 19-11-2021:

"We are migrating towards an ERC20 token, mainly because New Golem’s transaction framework is built on Ethereum’s Layer 2, and this scaling method requires tokens to be ERC-20."

Audits & Exploits

• Bug bounty program can be found here. Max payout is $15,000 (29-6-2020).
• Blockchain Security DB (29-6-2020) shows 2audits. The latest was in 10-2019.
• Audit Report on the migration contracts (19-11-2021).

Token

ICO

• Has an ICO token sale in 2016, no additional mining afterwards.
• ICO price: 0.000013 BTC, they used the Gnosis multisig wallet in their launch.

Token allocation

• 82% crowdfunding participants, 12% golem factory GmbH, 6% team members & early contributors

Tech

• Whitepaper can be found [insert here].
• Code can be viewed [insert here].

• Built on: Ethereum
• Programming language used: 'New Golem' will be written in Rust (23-4-2020).

Transaction Details

• Capacity (TPS):
• Latency:

Upgrades

• Has had Brass, Clay (2-4-2020) and was working towards Stone but made a change, now working (23-4-2020) to The Golem, or New Golem.

Scaling

• "Golem takes a step forward (12-8-2020) towards the adoption of Layer 2 scalability solutions on Ethereum, with the UX-first approach by Matter Labs’ zkSync". Update (15-3-2021): live.

Their Other Projects

Wildland

• From the website (20-12-2021):

"Wildland is a docker for your data. You can store, organize and access your data however and wherever you want. Wildland is backend-agnostic, open source, and comes with a competitive, multiparty marketplace for storage as well as user-controlled governance."

LEARN MORE

Roadmap

• Can be found [Insert link here].
• Token sale in 2016, first release in 2017, Brass on mainnet in 2018, clay Golem in 2020, 'New Golem' in second half of 2020. (23-4-2020)
• From their blog about their 'next milestone' (23-4-2020):

"During our last AMA, the Golem team boldly went ahead and revealed that we would not continue with the Whitepaper as it stands, but instead take a 180-degree turn based on the lessons we have learned.

The Next Milestone will not have an overthought new name, as it is simply, what Golem was always meant to be. So, The Next Milestone is Golem. For the time being, to avoid confusion, let’s call it New Golem.

New Golem proposes a more overarching platform for generalized distributed compute. One that focuses on developer experience and allows builders the freedom to build their own decentralized applications atop of a robust and innovative platform. Conceived and constructed as the next generation of a project that was already extremely ambitious and has been in the market for more than two years, New Golem opens up much broader possibilities than those that Legacy Golem or other platforms in the field of decentralized compute have been offering.

The Next Milestone is a reference implementation of a complete architectural vision, designed to be open, modular and based on industry standards where applicable. The architecture itself is platform-agnostic and The Next Milestone’s implementation is meant to integrate well with client applications built using various software development frameworks. It is written in Rust, which is a relatively new language, known for its speed, performance, and reliability, allowing Rust code to power performance-critical services.

New Golem allows for a multitude of use-cases to be built atop it, from decentralized compute platforms, data center providers, app stores to private networks (such as Golem Unlimited), and decentralized applications.

The Golem architecture includes a concept of ExeUnits - modular execution environments hidden under a layer of common abstraction. New Golem’s MVP shall include a WebAssembly (WASM) ExeUnit--which is designed to allow hosting and execution of standardized WebAssembly code packages, thus enabling developers to quickly jump aboard the platform. But the WASM ExeUnit is only one of several others, as a VM ExeUnit.

The upcoming migration to ERC-20 is the answer as it will allow the new Golem token to work better within the New Golem construction. The ERC-20 standard allows tokens to access a wide range of solutions to improve UX, such as Universal Login, Metatransactions, and others. Additionally, Layer-2 solutions for ERC-20 tokens are advancing. Thus, for the future integration of the ERC-20 Golem Token (ticker name to be revealed soon--in order to protect our users from scams) in use-cases, we will be able to leverage better transaction speed, avoid network clogging, and other benefits associated with the implementation of scaling models."

• The community was not overly excited (26-4-2020) by the pivot and ticker change however quite a lot of people supported it..

Usage

Projects that use or built on it

• From their blog about their 'next milestone' (23-4-2020):

"An independent development shop has been commissioned to build the first application atop New Golem, which will be launched together with the (new) Golem MVP."

Team, Funding, Partners

Team

• Golem Factory GmbH
• Antczak, Krzystof; “is game developer, 3D graphics artist and Blender enthusiast. He’ll be optimizing Blender integration performance and helping with tests and UX for Blender integration.” came on board after the ICO
• Banasiak, Adam; developer
• Borowik, Grzegorz; developer, came on board after the ICO
• Davis, Wendell; BDM
• ‘Chfast’, Pawet Bylica; lead ethereum engineer
• Franciszkiewicz, Marek; developer
• María Paula Fernández
• Leverington, Alex; P2P network
• Regulski, Andrzej, COO & co-founder
• Rybi, Dariusz; “was a lead developer for one of Poland’s bitcoin exchanges. He’s a wizard at cloud and datacenter technologies.” came on board after the ICO
• Skrzypczak, Aleksandra; lead software engineer & co-founder
• Stasiewicz, Magdalena; developer
• Peregud, Pawet; developer
• “Viggith”, Piotr Janiuk; CTO & co-founder
• Zagorowicz, Radostaw; developer
• Zawistowski, Julian; CEO & Founder

Funding

• Part of the portfolio of SVK Crypto

Partners

• Is a 'friend' of Polkadot
• Is a founding member of the ECF

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