A Comprehensive Guide To SONM Crypto (SNM) – 2023

SONM is one of the blockchain projects competing in the same domain as the examples mentioned above. So, what is an SNM coin? SNM coin is the token of the SONM platform, which provides decentralized cloud services. SNM is utilized within the platform for making payments.

A Comprehensive Guide To SONM Crypto (SNM) – 2023

Key Information Founder and Year of Establishment: Alexei Antonov and Sergei Ponomarev / 2017 Blockchain: Ethereum, Binance Chain Total Supply: 44.4 million SNM Circulating Supply: 44.4 million SNM Market Capitalization: $125 million Project Objective: Provision of decentralized cloud services.

With SONM, users have the capability to either rent out their hardware for income or utilize another individual’s hardware. Throughout this process, they can leverage the advantages of the rating system. Within the SONM marketplace, where rentals take place, each user is assigned a rating score based on their past transactions. This system effectively prevents malicious actors from exploiting the platform. The SONM platform is currently active, having facilitated a total of 432,957 transactions to date.

Founded in 2017 by Alexei Antonov and Sergei Ponomarev, SONM raised approximately $42 million through a token sale conducted in June of that year. A total of 8,774 participants contributed to the token sale. Antonov, one of the co-founders of SONM, holds a degree in computer security and has been involved in Bitcoin, blockchain technologies, and digital assets since 2016. The other co-founder, Ponomarev, became a founder of the project at the age of 22. He specializes in innovative contract development, JavaScript, and Solidity programming. According to their official website, the SONM team consists of around 70 members.

What is Sonm (SNM) Coin?

In the past few hours, the price of SNM has undergone a remarkable surge, experiencing a rapid and substantial increase in value. The cryptocurrency, trading at $0.19, soared to as high as $3.30. Within a matter of hours, SNM witnessed an astonishing appreciation of 1600% (later reaching up to 7000% during subsequent hours). This swift and dramatic ascent not only propelled the price but also significantly augmented the trading volume of the cryptocurrency. As a result of this surge, SNM has positioned itself as the third most traded cryptocurrency on Binance, trailing only BTC and ETH.

With today’s remarkable ascent, SNM’s market capitalization surged past the $100 million mark and reached as high as $125 million. However, the robust surge in SNM’s price lacks a discernible and confirmed catalyst. As verified data indicates, there are currently 44.4 million SNM tokens in circulation.

It’s noteworthy that SNM is listed not only on Binance but also on Bitget. Despite the absence of specific developments that could be directly attributed to this remarkable price surge, SNM has managed to captivate the attention of the cryptocurrency market, resulting in an extraordinary and unexpected surge in its value.

Sonm Project and Whitepaper

The Sonm project aspires to establish a globally robust distributed system for decentralized computing power, distinctively designed to outperform centralized competition by being autonomous, fault-tolerant, secure, and cost-effective. Sonm introduces a groundbreaking opportunity for individuals and businesses alike, enabling them to access substantial decentralized computing resources on a scale never seen before. It empowers individual users to profit by leasing their computing resources.

At the heart of Sonm are its developers, who function as Customers and Suppliers, allowing them to define the rental duration and computer architecture necessary for their projects. This, in turn, provides customers the flexibility to determine costs. Simultaneously, resource-providing Suppliers can earn SNM by selling peer-to-peer computing power for performing calculations. This innovative ecosystem opens new avenues for harnessing computational capabilities, heralding a shift towards decentralized computing in a manner that benefits both resource seekers and resource providers.

What are the Usage Areas?

The Coin has been developed to facilitate the trading of computational power between the participants within the ecosystem, namely Customers and Suppliers. Within the Sonm ecosystem, which can serve as the backend for machine learning, video rendering, network provisioning, large-scale distribution, scientific computations, and managed data storage services, the role of the token can be delineated as follows:

Customers: Customers in need of rented resources for their projects can purchase SNM tokens after downloading and configuring Sonm components. They can then proceed to place orders by selecting resources from the Marketplace. Suppliers: Suppliers who have downloaded and configured SONM components can create rental resource slots and place orders on the Marketplace. They can earn coins by leasing their resources to interested customers who place orders. Investors: Investors who speculate on potential price increases of coin can buy and sell SNM Coins on cryptocurrency exchanges where it is listed. Alternatively, they can engage in trading by swapping it with other cryptocurrencies.