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Golem (GLM) coin issuance price, total amount and white paper introduction
Golem's coin issuance price of $0.038 per token during its ICO in November 2016 was influenced by market conditions, projected demand, and competitive factors.
Dec 26, 2024 at 08:55 am
Key Points of the Article:
- Golem's Coin Issuance Price
- Golem's Total Coin Supply
- Highlights of Golem's White Paper
Golem's Coin Issuance Price
The initial coin offering (ICO) for Golem's GLM token took place in November 2016. During the ICO, 5% of the total token supply, or 100 million GLM, were sold to investors at a price of $0.038 per token.
Golem's Total Coin Supply
The maximum supply of GLM tokens is capped at 1 billion. Out of this, approximately 95% of the tokens were created during the ICO, while the remaining 5% are reserved for the Golem team and future development.
Highlights of Golem's White Paper
Golem's white paper, released in July 2016, outlines the project's vision, technical architecture, and tokenomics. Here are some key highlights:
- Decentralized Computing Marketplace: Golem aims to create a decentralized marketplace where users can buy and sell computing power on a peer-to-peer basis.
- Blockchain-Based Payments: All transactions on the Golem network are processed and secured using the Ethereum blockchain.
- Request-Renderer Communication: The Golem network facilitates communication between users who request computing power (requestors) and those who provide it (renderers).
- Token Utility: The GLM token is used to facilitate transactions on the Golem platform, including payment for computing services and staking for network security.
FAQs:
What factors influenced Golem's coin issuance price?
- Market conditions at the time of the ICO
- Projected demand for Golem's computing services
- Competition from other blockchain projects
Why is the total coin supply of Golem capped at 1 billion?
- To control inflation and maintain the value of the GLM token
- To ensure that the network remains decentralized and not dominated by large holders
What are the key benefits of using the Golem network?
- Access to on-demand computing power without the need for dedicated hardware
- Reduced costs compared to traditional cloud computing services
- Increased efficiency and utilization of computing resources
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The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
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