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The Golem Network Token is an ERC-20 Ethereum-based token. It’s used as a currency on the Golem Network, where people can make peer-to-peer transactions. The payments are made for the loan and rental of unused computing power, kind of like AirBnB for idle CPUs. The Golem Network is used for a wide range of projects, including machine learning, data analytics, video transcoding services, and image and video rendering. Since 2020, The Golem Network has been migrating away from its previous token (GNT) to the new Golem Token (GLM).