Golem
Crypto Overview
Overview
Golem is a decentralized computing network that allows users to rent out their unused computing power to others who need it. The GLM token serves as the payment method within this ecosystem.
Intended Utility
The primary purpose of GLM is to facilitate payments between requestors (who need computing power) and providers (who offer their computer resources) on the Golem Network. The token is used to compensate providers for sharing their computing resources and allows requestors to pay for these services.
Actual Utility
The Golem Network is actively being used for various computing tasks, particularly in areas like CGI rendering, machine learning, and scientific calculations. The project maintains active development with regular updates to its platform.
Token Distribution and Governance
The token distribution shows a relatively fair model, with no concerning concentration among founders. The project conducted its ICO in 2016, and tokens have been widely distributed since then. The team has demonstrated long-term commitment through consistent development.
Technology Assessment
The platform operates through smart contracts on the Ethereum network, facilitating direct peer-to-peer transactions for computing resources. The technology does not involve interest-bearing mechanisms or gambling elements.
Business Model Analysis
The business model is straightforward and halal-compliant: users pay for computing resources using GLM tokens, creating a clear value exchange between parties. There is no involvement in prohibited industries or activities.
Crypto Impact
To assign a comfort level investing in Golem from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Golem.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.