SONM stands for Supercomputer Organized by Network Mining. SNM project has been conceptualized for replacing hash-basedtraditional cryptocurrency mining, which is the dominating force in the blockchain community. This decentralized worldwide fog computer that can be utilized for all kinds of general purpose computing. You can use it for scientific calculation to site hosting.
This ambitious project has the aim of converting mining computers into worldwide supercomputer nodes. These can in turn be used for tackling resource intensive as well as demanding computing tasks of any kind.
Now, the question that obviously comes is – What is fog computing? It is nothing but distributed cloud computing form. Here, the computing tasks are farmed to localized end-user device networks and not to the large remote data centres.
SONM, from technical perspective, it is the top layer on underlying P2P technologies. The whitepaper on SNM says –
On the Ethereum blockchain, token used by SONM platform is SONM, whose ticker is SNM. On April 15, SNM pre-sale launch was initiated and within a span of 12 hours the entire process was complete. It raised 10,000 ETH. SNM crowd sale officially reached a whooping $42 million capitalization on June 18. Listing of the SNM tokens are now present on EtherDelta and HitBTC exchanges.
Business model of SONM tries to capitulate the double-digit growth enjoyed every year by the computing market. SONM team says that they can get higher growth rate because of the simple fact that fog computing is faster than cloud computing, on one hand, and more cost efficient, on the other.
This platform wants to work as an aggregator where it will provide P2P marketplace to the users through fog computing and helping them get connected to one another. Now, a dummy on cryptocurrency may ask – What does Mining mean? It refers toa computingwork that the service providers of fog computing (who are also called Miners) do for executing a task. When the task is done by the fog service providers, the Miners are rewarded with SNM tokens. These tokens can in turn be used by the miners for cashing out of the exchange or pay for other services available on the platform.
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