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What is Golem? – Invest In Blockchain

Golem is built on the Ethereum network, but it is not an ERC-20 standard token, as are most coins built off of Ethereum. There are actually many ways new tokens can be created using Ethereum’s platform, and ERC-20 is just one standard to help create tokens without having to invent every protocol from scratch.

The Golem team went their own way, meaning that one can’t assume the Golem token, GNT, can be stored on ERC-20 compatible wallets, but it does have the security and stability of the underlying Ethereum blockchain.

Golem is designed to be a distributed computing network, similar to blockchains like EOS. However, where EOS focuses on distributed applications (dapps) which are largely self-contained programs running on the blockchain, Golem is geared toward computational problem solving that assists other existing programs that could be better serviced by access to a larger pool of computing resources.

What Does Golem Do?

As explained in their whitepaper, Golem wants to take on…

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