“SONM stands for Supercomputer Organized by Network Mining, and it’s a network based on Ethereum with the goal of distributing computing power, create marketplaces to buy, sell or rent computing resources…”
Coin Name: SONM
Birth of project: 2017
Project Status: Pending
Circulating Supply: 359,600,000 SNM
Official website: https://sonm.io/
Official Wallet: https://www.myetherwallet.com
Introduction to SONM (SNM)
SONM stands for Supercomputer Organized by Network Mining, and it’s a network based on Ethereum with the goal of distributing computing power, create marketplaces to buy, sell or rent computing resources.
SONM was funded by Andrey Voronkov and Sergey Ponomarev, both experienced in computing projects, and the ICO happened in June 2017.
Computing power is expensive, and that is why many organizations think twice before investing in this area. At the same time, game servers, scientific investigation, blockchains, video rendering, and so on, require huge amounts of computing power, so there is a huge demand.
SONM target those companies needing to process a lot of data, but that can’t afford the necessary hardware to do it. It targets everyone using cloud computing, regardless of where they are located.
SONM will provide the computing power in a decentralized way what means anyone can earn crypto by simply making available their unused computing power, pretty much like happens with Golem. This is decentralized computing power, and as doesn’t require any infrastructure, has less costs.
Not just companies with high demand for computing power can use SONM, anyone that requires this service can use it, even to play a game on the tablet, for example.
For anyone to be able to rent their unused computing power it’s necessary to download the SONM Dockers, so it’s crucial that an easy access to the software exists. One downside SONM has is, precisely, the difficulty in downloading the Docker. The fact that SONM it’s still in Alpha version explains the existence of several technical questions to be solved.
At the same time SONM has to face competition from Golem and iExec, which operate in the same area, as well as the centralized existing services and dominate the market, namely Amazon, Microsoft and Google.
SONM advantages are cheaper prices, decentralization and anonymity, and a Token ecosystem on which discounts and promotions can be based. Finally, running with no need for any setup is plus, as well as, according to their team, the different features from Golem and iExec, namely support for site hosting and game servers, features that will be made available in the future.
This is a brief introduction to SOMN, but if you want to know more about the coin, what people are saying about it, technical details, jump right in any of the links we present below. They are well worth reading before investing!
Feb 19, 2018: $0.280615
Jan 19, 2018: $0.369876
Dec 19, 2017: $0.374244
Nov 19, 2017: $0.082072
I like the idea of SONM. If I understand it it correctly this is extra computing power for things like mining that require a lot of computer power to solve the algorithm?I think this is an amazing way of earning crypto. Your earn crypto by doing almost nothing.However If people can tap into your computer power is it safe from external attacks? A serious area I think they need to address . This assurance will have more people investing in this ICO.Has great potential!
Yep, that is correct, it’s similar to Golem and iEXEC. SOMN is not an ICO, it’s an ongoing project. The ICO (Initial Coin Offering) happened last year, so their project is under development. I don’t think safety is a concern here, but we have seen some hacks happening, that is true.