SONM (SNM)

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SONM is a viable alternative to cloud solutions and services because of using a fog computing structure. Consumers of computing power in SONM get more cost-efficient solutions than cloud services.

Joke Name

SONM = Fog Computing

Basic Intro

Link to the main website

Link to price/market cap

Exchange Ticker (SNM)

Coin or Token

Circulating Supply (359 million)

Total Supply (444 million)

Market Cap Ranking

Review

SONM is a viable alternative to cloud solutions and services because of using a fog computing structure. Consumers of computing power in SONM get more cost-efficient solutions than cloud services. SONM provides computing power in the most generalized case – general computing, this is suitable for a wide range of Consumers. SONM provides a computing platform for real world applications: worldwide computations organized using SONM can serve to complete numerous tasks from CGI rendering to scientific computations. A number of applications will be launched either without modifications or with minimal improvements.

Crowdsale:

The SONM crowdsale managed to raise the astounding $42 000 000 dollars during the duration of its ICO, which is based out of Russia.

Key Features:

  • Client Services
  • Supplier Services

Client Services

For clients, fog computing offers a cheaper solution than the private, monopolized cloud services we see today (like the services offered by Amazon, Microsoft, Google, etc.). SONM promises lower traffic expenses – after all, in a decentralized system, there’s no need for administrative costs like buildings, staff, and infrastructure. SONM doesn’t have a centralized authority that regulates the distribution of computing resources, offering advance privacy tools for anonymity like proxy or TOR. Additionally, the SONM system always finds the best equipment for your computational tasks, and runs with no need for setup and dedicated server support.

Supplier Services

SONM Suppliers (sellers, providers, workers, miners) are people and companies that have computational resources and would like to either start making revenue from resources or to increase revenue from existing resource usage activities. SONM makes a bridge between traditional cloud Customers and modern crypto-currency miners, bringing them to a unified marketplace. SONM acts as an alternative work provider, making sure, that any Supplier will always have profitable tasks. In the current time any computing resource can earn money by mining, but working for applications from the real world earns more. SONM delivers more profitable work from the cloud world to mining market, filling all the idle Suppliers with regular mining work (Ethereum, Monero, etc). This way every Supplier is guaranteed to have at least a work of mining-grade profitability with a chances for a better offer

Problems:

There was supposedly some sketchy behavior coming from the team before and during the ICO. According to a story on reddit, the SONM team applied changes to the pre-ICO discount without any sort of a clarification or announcement, furthermore, they did not use escrow, but rather the team had multi-sign contracts that the team held themselves, this raises some suspicion, because a third, neutral party should be involved with kind of financial instrument due to the ease of committing fraud.

Conclusion:

All in all, SONM plans to democratize the world of processing power. The platform will move the world past cloud computing into a world of “fog computing”. They already have their own mainnet and have secured quite a few strategic partnerships. Despite their questionable actions in the past, the platform itself seems transparent and user friendly. We’ll definitely be waiting to see what’s ahead for the SONM project.

Pros

  • Limited exchanges
  • Own mainnet

Cons

  • No direct backing (asset, profits, commodity)
  • Possible team issues