What is SONM Coin?
SONM Coin is based on SONM, wich is a global operating system that acts as a decentralized global supercomputer for fog computing. SONM can bring in computing power wherever it is needed (IoE, IoT). Global World Computing, organized with this system, can do any number of scientific computing tasks with CGI rendering.
One defining feature of SONM is its decentralized open structure. Unlike other cloud services, like Amazon, Microsoft, or Google, buyers and employees in this structure can interact directly with each other without middlemen, to create the most profitable market for themselves.
SONM is implemented using SOSNA—Super Global Operating System—with Fog Computing Net-Work Architecture. Fog computing is a model that uses the resources of various devices on the internet (personal computers, smartphones, tablets, appliances, etc.) to process, store, and analyze data rather than the central nodes of the network.
If the cloud solutions are centralized in their features, then the fog computing power is decentralized. Fog Computing customers receive more cost-effective solutions than other cloud services (Amazon, Microsoft, Google Cloud, Digital Ocean, etc.).
Because SONM plans to use fog computing instead of the cloud structure, there is no need to pay in advance for providing private or monopolized cloud computing. Because SONM is a fully decentralized platform, it does not have a single entity that regulates or distributes computer resources.
The SONM Coin
SONM uses its own SNM token based on the Ethereum blockchain system—the SONM Coin.
Today, almost every online service needs some sort of computing power. This is true for traditional websites, online stores, MMORPG, companies that use large databases, and applications. In fact, anyone who uses the internet today to run their business will be able to use the SONM Coin to solve their computing tasks.
On the other hand, every internet user can use the SONM Coin platform to get passive income by making his computer equipment available for rent.
The price of the SONM Coin is supported by robust market demand for computing power and the ability to provide more competitive pricing than traditional cloud computing services. Owners of SONM Coin receive a percentage of transaction and operation fees (buy-sell-developer). This is a direct analogy to owning stocks and receiving dividends from operating profits.
SONM’s unique fraud protection system
Fog computing technology works on the basis of trust between network members and it may happen that the hub you choose on the network is actually fraudulent. In that case, you are definitely jeopardizing all your data.
For this reason, it is extremely important that the platform has an appropriate and well-designed anti-fraud strategy that allows unscrupulous participants to be excluded from the system.
The developers of the SONM project say they have thought this problem through. Their platform already has a working prototype of such a unique fraud protection system based on Ethereum’s smart contracts.
It provides miners and customers with reliable protection against malicious nodes, clusters, and pools in the system. SONM’s developers offer a simple solution, which requires you to create a hub wallet for each hub and deposit a fixed amount. This amount is frozen according to the booklet as protection against the malicious actions of the hub.
The team consists mainly of Russian software developers, who have a lot of experience in cloud computing. Sergey Ponomarev is the creator of the decentralized supercomputing architecture and the SOSNA concept of SONM, as well as the main developer of the SONM platform.
He was a long time Ethereum and Blockchain developer. Anton Tiurin is a senior Yandex software developer and one of the leading developers of the Cocaine platform in the cloud division of Yandex. Max Taldykin is an experienced developer of smart contracts working on off-chain calculations for Ethereum.
What is the idea
The idea behind SONM is decentralized global computing power. They want to solve the problem of inefficiencies of cloud platforms. SONM is able to connect miners and customers in its distribution network with computing power.
The services that can be provided range from CGI rendering to scientific calculations by using fog/grid computing. It is an architecture that uses one or more collaborative entities of end-user clients or devices. This provides a considerable amount of memory and offers many possibilities for communication, control, configuration, measurement, and administration.
The project will create a market for the miners and customers. The SNM token is used as the platform’s native currency. Everyone could connect to the SONM network and receive passive income for their computing power.
As you know, Ethereum will switch to a hybrid version of PoS and PoW this year. This will be the moment many miners leave Ethereum and SONM wants to invite these miners to its platform.
The main goal of SONM is to become an important player in the cloud market. The market currently stands at $200 billion in annual sales. By the year 2020, that number will turn into $300 billion. They want to be cheaper and more effective than their competitors by covering a substantial part of the market.
Advantages and disadvantages of SONM Coin
The team is a solid advantage. They are all experienced, professional and passionate about what they do. The value proposition is logical and well represented in their documents. They distribute a large percentage of the tokens to investors, which is always healthy for the ICOs.
There are a lot of projects that will do the same thing, so the competition is fierce.