Ever since the beginning of February 2021, Golem (GLM) has started experiencing a surge with respect to its adoption and growth in volume. The platform is constantly experiencing an upward trend and the rally for the asset is growing to new heights.
The recent rally has resulted in Golem (GLM) experiencing an all-time high in three years and currently it is sitting at $0.65.
It was reported that the price of the altcoin “Golem – GLM” surged on February 19, 2021. The surge was experienced at the same time when Bitcoin (BTC) went onto hitting its all-time high. However, the surge was short-lived and the price of Golem (GLM) also evaporated that it had gained around February 19, 2021.
The price surged gained by Golem (GLM) evaporated right when Bitcoin (BTC) ended up experiencing a drop with respect to its prices on February 22, 2021, and it came all the way down to below $45k per BTC.
After all the ups and minor downs for Golem (GLM), the asset has still managed to gain a lot of growth for the running month. According to the data provided by the on-chain data analyzing firms, in February alone, Golem (GLM) has acquired 230% gains.
One of the major reasons why Golem (GLM) has gained so much success is the service and benefit it offers the users. Golem (GLM) is a platform that exists as a decentralized application on the Ethereum (ETH) network. The platform allows users to rent out the excessive computing power that their computers generate and earn GLM as rewards for doing so.
After the deployment of the new ERC-20 contract, the platform has been busy migrating its assets from GNT to GLM tokens. The process of deployment of the new ERC-20 contract and migration was initiated back in November of 2020.
Since then, the majority of cryptocurrency exchanges around the world have made necessary amendments at their end. However, there are still some crypto-exchanges where the GNT tokens are still being purchased, sold, and traded with other assets. The GNT tokens are still tradeable and can still be found listed on different cryptocurrency exchanges.
Golem is known for providing a framework that is based on open-source cloud processing. The open-source cloud processing framework is not only limited to registries but also provides the facility to process transactions.
Therefore, using the platform provided by Golem, every user has the ability to aggregate and share their computing resources. The platform also allows the users to be able to use the network in order to create and launch new applications.
The Golem platform has revealed that in the long-run, it aims to come face to face with other centralized cloud services. The company that Golem is currently planning to take head-on is Amazon Web Services.