Supercomputing Organized by Network Mining (SONM) is a system for global operations and a network that was based on the Ethereum blockchain to distribute worldwide computing power. It aims to let buyers interact directly with sellers with no intermediator. The article focuses on discussing Supercomputing Organized by Network Mining (SONM) in detail. The following topics will be discussed here:
- What is SONM?
- Features of SONM
- Who Founded SONM
- How does SONM Works?
- Client’s Perks
- Miner’s Perks
- SNM Wallet
- SNM Cryptocurrency Mining
- Risks Associated with Investing in SNM
- Where does SONM stand when Compared to Golem?
Let’s start discussing each of these topics in detail.
What is SONM?
SONM is an ambitious project that wants to turn mining computers into the nodes of a worldwide supercomputer that is able to tackle demanding, resource-intensive computing tasks of any nature.
- SONM is a supercomputer built on Ethereum that offers worldwide distributed computing power.
- Cloud computing has been expanding quickly over the past ten years.
- SONM wants to go beyond cloud computing and enter the ETH and Blockchain markets.
- it wants the user to connect to other devices freely like Bluetooth.
- Through SONM anyone can possess the power and capabilities of a supercomputer.
- It eliminates the need for administration, infrastructure, and buildings because computer power is decentralized.
- For those that need it, this offers easier access to computing power at a lower price.
- SONM seeks to make life easier for anyone who wants access to supercomputers, whether they want to access government or academic organizations that have them.
Resources for SONM are drawn from a variety of sources rather than only data centers, such as individual users’ computers and data centers (selling excessive powers). The SONM platform uses the token of the same name SONM (ticker SNM) on the Ethereum Blockchain.
Features of SONM
- Alternative to PoW mining: SONM is an excellent alternative to PoW mining for lone miners.
- Modern deployment: Docker containers, a widely used and popular delivery technique, are used to deploy apps over the SONM network.
- Users can rent computing: The SONM platform, which enables users to rent computing power from other users, is a decentralized fog computing system.
- Employ cutting-edge algorithm: To stop the proliferation of malicious nodes and maintain the network’s security, SONM employs a cutting-edge algorithm.
- Platform updated with enhancements: SONM has a large user base, which guarantees that the platform is regularly updated with fresh features and enhancements.
- Decentralized network: SONM allows web applications to run in a decentralized network.
- Affordable web hosting: Through SONM, web hosting will cost less, and website owners can collect payments from SONM without the help of other cloud services.
- Support variety of activities: Can carry out a variety of activities and run numerous applications, including mining, video rendering, mining, hosting websites, and machine learning.
- Provides IaaS: One of the best features of SONM is that it has the ability to provide IaaS (Infrastructure as a Service) for almost any current cryptocurrency startup or ICO project.
- Cost-efficient alternative to cloud solutions: SONM provides a viable and cost-efficient alternative to cloud solutions and services by operating within a fog computing structure.
- Provides optimized computing power: SONM helps to provide unlimited and optimized computing power on demand.
Founded of SONM
The majority of the SONM team members are from the Drug Discovery Project, as can be seen by looking at the group that created the software. Sergei Ponomarev and Aleksei Antonov are a few of the major players who have helped make this project successful. The project’s coordinator is of Russian descent.
This team first came together in February 2016 to begin looking for the best hardware suitable for biopharma computations. They aimed to advance the bitcoin movement significantly. Looking at SONM’s success, you can see that the efforts have so far been successful.
How does SONM Works?
SONM is decentralized in nature and is considered a worldwide fog network.
- SONM can be applied to many different applications, including hosting websites, performing general computer tasks, and moving forward with scientific computations.
- This fog network can also be used for game servers, video streaming, scientific research, an app running, and the production of computer graphics, among other widely used uses.
- One of the main goals of SONM is to replace the hash power-based traditional cryptocurrency mining techniques. These conventional techniques currently rule the blockchain community, and if they can be replaced by a more efficient mechanism, many advantages could be realized.
- When compared to a centralized, widely used cloud service, SONM is very different due to its capacity to animate a fog computing structure. Through the ideas developed by the Internet of Things, all gadgets are interconnected.
- SONM is aiming for a sizable market. However, SONM faces significant difficulty as a result of the emergence of multiple competing projects. One could argue that Golem is the ideal illustration of such a thing.
- Golem’s commercial strategy, however, differs significantly from SONM’s because it is more concerned with creating a platform on which to execute applications. Amazon, on the other hand, is putting in a lot of effort with a similar drive to transition to fog.
Client’s Perks
- Fast data transfer: It won’t take long to upload and send files, videos, and other documents via the internet.
- Use of tokens for security: The use of tokens as virtual assets fosters a sense of security. There won’t be any money used in transactions, only computer power and a wide range of personalized tokens will be used.
- Decentralized: SONM is free from centralized authority thanks to decentralization.
- Cost-effectiveness: Another benefit is cost-effectiveness, as employing SONM for fogging is less expensive. Additionally, using cloud services eliminates the need to travel between locations, pay middlemen, and incur other costs.
Miner’s Perks
- Real-world estimates: By offering estimates that were grounded in reality, SONM was able to satisfy the needs of these miners who wanted to benefit from the use of their processing power.
- Increased profits: It is also possible to increase those profits by using SONM’s intelligent agents.
- SONM can be used on any smart device: Miners can use SONM on any smart device. However, the possibility of equipment bans and the transition to a PoS algorithm for cryptocurrencies like Ethereum and Bitcoin can present challenges for miners.
SNM Wallet
- The computing power buyers will use SNM tokens to pay for the calculations using the smart contracts-based mechanism.
- SNM is a token released on the Ethereum blockchain that complies with all applicable implementation, storage, and management specifications for tokens, including the Ethereum wallet.
- Ethereum smart contracts will be utilized for the SONM project’s crowdfunding, initial coin offering, and SNM creation.
- Those who want to support the growth of the SONM project will send ether to a specific ICO Ethereum address, which will then generate SNM tokens at the specified SNM/ETH exchange rate.
- Only after the start of the crowdfunding period (specified as the Ethereum block number), will ICO participants be able to send ether to the SONM crowdfunding Ethereum address.
SNM Cryptocurrency Mining
- Specialized computers, often known as nodes or mining rigs, validate blockchain transactions for a specific crypto coin in exchange for a mining reward.
- Given that they are virtual currencies with no real value other than what people are willing to pay for them, you might be wondering why they even need to be mined. By turning on a money printer, real currency, the kind backed by governments, can be produced, so it seems sensible that cryptocurrencies might do the same.
Risks Associated with Investing in SNM
On the basis of the Investors Observer study, SONM (BEP-20) receives a low-risk analysis. The proprietary system evaluates a token’s susceptibility to manipulation by examining the amount of money it took to change its price over the last 24 hours and by examining recent changes in volume and market cap. The scale ranges from 0 to 100, with lower scores corresponding to more risk and higher numbers indicating lesser risk.
Where Does SONM Stand When Compared to Golem?
- In accordance with the initial Golem strategy, a six-month crowdfunding effort was started to raise the funds necessary to continue.
- SONM undertook a comparable project.
- The SONM team is currently preparing for their upcoming release, which is expected in Q2 2017.
- The current developments make it obvious that the SONM team is getting stronger every day.
- To overcome the competition they are up against, the SONM team is likewise eager to do away with the Golem platform.