What Is Sonm (SNM)?

What Is Sonm (SNM)? Complete Guide Review About Sonm.

What Is Sonm (SNM)?

Sonm provides a computing platform for real world applications worldwide computations organized using 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. At the level of business logic, is abstracted from the computing architecture (currently only amd64 support is implemented, it will be expanded in the future), abstracted from the virtualization technology (Docker support is currently implemented, and others will be supported in the future).

Sonm resources are not based only on data centers, but on a wider range of sources, including people’s computers and datacenters (selling excessive powers). People computers have both strong and weak sides. The weak sides are fewer related services, more difficult to ensure privacy of data and reliability. In Sonm join two global markets – the market of mining and the market of calculations using traditional cloud providers, so your clients (computation consumers and resource customers) receive conditions for mutually beneficial cooperation.

Sonm Storage Key Points

Coin BasicInformation
Coin NameSonm
Short NameSNM
Circulating Supply44,400,000.00 SNM
Total Supply44,400,000
Source CodeClick Here To View Source Code
ExplorersClick Here To View Explorers
Twitter PageClick Here To Visit Twitter Group
WhitepaperClick Here To View
Support24/7
Official Project WebsiteClick Here To Visit Project Website

Mission

To create a global decentralized marketplace of computing power free from ownership, fault tolerant, secure and cheaper than centralized competition. To create a platform for applications of a new type – applications of the future. These are decentralized applications, similar in architecture with micro services, able to horizontal scaling and are resistant to the fall of individual nodes. To support not only the future, but also the present – Sonm are compatible with many existing applications.

SONM is created for

The main persons in Sonm are Customers and Suppliers. Customers can select any rental time or computer architecture they need for their project and they set the cost. Using they can execute wide range of tasks. Suppliers are the resource owners. They can earn tokens by selling computing power peer-to-peer to Customers to perform their calculations. The defining feature is its decentralized open structure, where Customers and Suppliers can interact with no middlemen, while building a market for them, unlike cloud services. Decentralized computational power marketplace of allows the customers to find each other and get the best prices.

Deals technologies

Sonm are using a public platform of smart contracts for key operations that require consensus. Using smart contracts allows to make many kinds of contractual clauses partially or fully self-executing, self-enforcing, or both. The aim with smart contracts is to provide security that is superior to traditional contract law and to reduce other transaction costs associated with contracting. A significant part of the market is implemented on smart contracts. Information about participants (profiles, ratings, history of operations) is stored in registries on the basis of smart contracts.

Transactions are carried out on smart contracts. Virtual currency used for payments in Sonm is SNM token. It is a ERC-20 standard token, based on Ethereum. Token has a function of payment equivalent of computing powers. Token is designed as an utility token (not a securities) according to Singapore law (SFA, FAA), juridical practice and MAS definitions.

SONM limitations

Enabling security requires additional efforts. The first option is yo wait until trusted platform execution using Intel TXT and bootable USB is implemented (not implemented in MVP). The second option is to use resources only from technology partners, owning dedicated data centers, that are assessed for security and can sign NDA. The limit can be also overcome by ruining only insecure part of application on, or enabling strict encryption for data hosted and processed.

Few Sonm resources have high enterprise SLA figures. The applications using is to be aware of node failure and be able to scale and migrate automatically. SDK in progress, only IaaS level is implemented (not implemented in MVP). Another example is starting GPU instances to the cloud provider customers. GPU is not common hardware for cloud provider infrastructure. Still this market is evolving and some cloud providers are willing to suggest new options to their customers. In this case can provide unlimited GPU resources to provider and decrease market entrance costs and risks.