Post-ICO update for SONM decentralized fog computing platform
- Project name: SONM
- Ticker symbol: SNM
- ICO date: June 2017
- Market cap*: $20 million
- Circulating supply*: 359,600,000 SNM
- Total supply: 444,000,000 SNM
SONM is a decentralized fog computing platform with use cases targeted at general-purpose computing tasks. SONM facilitates the use and exchange of general-purpose computing power and computer architectures.
The marketplace for SONM is built on the Ethereum blockchain and uses an ERC-20 token as its standard. However, there are two tokens used in SONM’s ecosystem.
The first is the ERC-20 standard used on exchanges, and the second is the SONM blockchain token. The SONM blockchain token is pegged at a rate of 1:1 to the SONM token and can be exchanged between their native blockchain and the Ethereum blockchain.
When purchasing or leasing computing power, SONM suppliers and customers use the SONM blockchain tokens as a medium of exchange. The ultimate goal of the SONM platform is to give more resources to crypto miners and make better use of the total computing power in the network.
Use cases for SONM include machine learning, video rendering on CPU/GPU, CDN and video streaming, and so on.
SONM was founded by Sergei Ponomarev, a smart contract expert, and Aleksei Antonov, a blockchain proponent. SONM was able to raise $42 million USD in their four-day ICO period.
Since then, SONM has launched its main net and is in the process of gaining Customers and Suppliers to exchange computing power within their fog computing platform. As of the date of publication of the article, there are 106 deals in process…