Golem (GLM/USD) is an ambitious cryptocurrency project that fosters a global group of creators building ambitious software solutions that aim to shape the technological landscape of future generations. They plan to do this by making computing resources accessible across the entire platform.
Recently, the project held another AMA on Reddit, calling this one the Summer edition of the Golem AMA. The project’s developers announced the AMA around July 10th, giving the community 4 days to ask their questions, which were then answered on July 14th.
Are you looking for fast-news, hot-tips and market analysis?
Sign-up for the Invezz newsletter, today.
The project noted that this AMA comes very shortly after the last one, which took place in April 2021. But, there have been many new developments, and the project is willing to answer the community’s questions already since there is likely to be a number of them.
Before switching to the questions, the project shortly listed some of the major achievements between the last AMA and this one. For example, it released Beta II on mainnet, and it created two patches since the April AMA. It launched new bounties, released the Golem Network Stats API documentation, and it relaunched the bug bounty competition.
Key takeaways from the AMA
Golem has answered many questions during the AMA, some of which were quite great. For example, one user asked how many more stages Golem is expected to go through before it becomes more user-friendly and it starts to compete in the Cloud Computing market. While the project acknowledged that it was a good question, it said that the answer is not that straightforward.
Golem itself is not a direct competitor in cloud computing. Instead, it comes as a different kind of product. It still sees cloud computing as a viable market, although what the project is trying to build corresponds to a new wave of tech innovation, rather than legacy cloud computing.
Next, the project spoke of competition, with one user suggesting that the project is competing against Google. In regards to this, Golem said that it believes Web 3.0 is growing very steadily, as serious contestants against legacy tech. It has a sum of solutions that are combining their power, and as such, are beginning to be a threat to Google, but also others.
Another individual asked whether Golem plans to offer new incentives, listing different projects that are offering rewards even for educational content. However, Golem said that, after inspecting the projects, their incentives lead back to developer bounties, and there are no mentions of rewarding educational materials. Golem itself is definitely interested in furthering the development and rewarding participation. For example, as they said in an answer to another question, there might be a new Golem meme competition at some point in the future, although there are no specific plans for something like that as of right now.
It also cleared the air regarding some issues, such as Coinbase delay. One user suggested that Coinbase is waiting for the project to migrate GNT to GLM, which one of the devs said is untrue, and that the stash migration has nothing to do with Coinbase delay.
67% of retail CFD accounts lose money