Blockchain 101 Episode 82 – Utility Tokens – Golem

Golem is the first exchange platform built on Ethereum to trade excess computing power.

Through blockchain technology, Golem connects computers all around the world, establishing a sharing economy of computing power. Through the peer to peer network, users, can rent computing power from other users.

Currently, few large monopolies are controlling the computing power market, earning high profits from it, resulting in the increasing price of computing power.

A decentralized computing power trading platform could be the answer to lowering prices, even if the development is highly dependent on the participants of the project.

Golem is abbreviated as GNT, When users request for computing power they need to give GNT tokens to the providers as payment, The total supply for GNT is 1 billion With 82% of GNT sold and circulated in public and 18% of GNT allocated to Golem team and company.