Cryptocurrencies

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What currency is GLM? What does GLM coin mean?

GLM, the native token of the Golem Network, facilitates payments for computing resources while enabling staking and voting on network modifications.

Oct 16, 2024 at 06:06 am

1. What is GLM Currency?

GLM is the native token of the Golem Network, a decentralized supercomputer platform that provides on-demand computing resources for anyone who needs them. It is an Ethereum-based token that can be used for a variety of purposes within the network, including:

Paying for computing resources
Staking to participate in the network's Proof-of-Stake consensus algorithm
Governance token for voting on changes to the network

2. What does GLM stand for?

GLM is an acronym for "Golem". There is no specific meaning or significance behind the term "Golem" in relation to the network.

3. How does GLM work?

GLM is used to pay for computing resources on the Golem Network. When a user requests a task to be performed on the network, they must pay a certain amount of GLM to the provider of the computing resources. The amount of GLM required is determined by the complexity of the task and the amount of time it will take to complete.

4. Where can I buy GLM?

GLM can be purchased on a variety of cryptocurrency exchanges, including Binance, KuCoin, and Coinbase Pro.

5. What is the future of GLM?

The future of GLM is tied to the growth and adoption of the Golem Network. If the network continues to grow and attract users who need its computing resources, the demand for GLM will likely increase. Additionally, the development of new features and applications for the Golem Network could also drive up demand for GLM.

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