What if you could lend and borrow computing power on demand? Golem Factory asked this question in November 2014 and provided an answer in the Golem Project in April 2018. Working in a peer-to-peer manner, this decentralized computing network lets users divide computation tasks into subtasks and distribute them for solving to operators. The users who seek operators for this are called Requestors, and the operators are Providers. A Requestor puts forward a commission for Providers to fill with a minimum and maximum price denominated in GLM, the cryptocurrency that drives this marketplace.
In 2019 the team decided to rebuild the platform from the ground up and migrated the protocol in late 2020. The new protocol is powered by a GLM token, instead of the previous GNT, and via the special contract, it is possible to convert GNT to GLM to use on the updated platform in a 1:1 ratio.