Supercomputer Organized by Network Mining (SONM) is a decentralized worldwide fog computer for any general purpose computing, from site hosting to scientific calculations. The purpose of this project is to replace hash-based traditional cryptocurrency mining, which now dominates the blockchain community. This can be used for cases like scientific projects, web apps hosting, site hosting, game servers, neurtal networks, CGI and video rendering, and many more.
SONM offers an opportunity for miners to earn tokens by performing calculations for everyone in the network. Any smart device (CPU, GPU, PlayStation, and even smartphone) located anywhere in the world can take advantage by joining the fog network and selling computing power peer-to-peer via the SONM Application Pool.
Buyers benefit from using SONM fog computing as an alternative to centralized cloud services in terms of cost effectiveness, security, and scalability. There’s no need for infrastructure and employees – the data is stored in the fog, decentralized and encrypted on miners’ computers. Buyers can select any rental time or computer architecture they need for their project and they set the cost.
SONM platform uses a token of the same name – SONM (ticker: SNM). Token account is a core component of SONM, and it is designed to ensure flexibility and control for the future evolution of the project. Tokens will be created during the Pre-ICO and ICO. Total supply of SNM will be limited to the amount of tokens created during crowdfunding period. SNM tokens will be used by the computing power buyers to pay for the calculations using the smart-contracts based system.
SNM is a token issued on Ethereum blockchain. Its design follows widely adopted token implementation standards. This allows token holders to easily store and manage their SNM tokens using existing solutions including Ethereum Wallet. This project crowdfunding (Pre-ICO and ICO) and SNM token creation will take place using Ethereum smart contracts. Participants willing to support this project development will send ether to specified ethereum smart contract address, creating SNM tokens by this transaction at the specified SNM/ETH exchange rate.