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SNM token: an internal currency on the Sonm computing power marketplace

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 The rate at which the crypto industry is expanding is undeniable. The industry has found ways to solve several global problems digitally. An excellent example of the crypto industry solving world problems is the SONM platform. If this is your first thing learning about the SONM, you may wonder what it is and why it is essential.

What is SONM?

SONM is a decentralized supercomputer that performs general computer functions. SONM uses a decentralized pool of devices that are connected to the internet, for example, the Internet of Everything or the Internet of Things.  The mission of the SONM is to create a decentralized global marketplace of computing power.

Also, the SONM network aims to provide a platform for the application of a new type that supports the future and the present, as it is compatible with several existing applications. For example, the Ethereum Smart Contracts as a consensus system, Cocaine open source PaaS technology as a decentralized computing platform, and so on.

Roadmap of SONM development

Aleksei Antonov and Sergey Ponomarev co-founded the SONM platform. The SONM platform started in 2016 and launched the SNM token on the 24th of January, 2017. The SNM token is a utility token, an ERC20 token type with a circulating supply of 359.6 million out of its proposed 444 million tokens. 

During its launch, the SONM team discussed a series of updates it will release as the development progresses. Its first version, the v.0.1 or ANGE, uses Docker as isolation and a slave protocol using Yandex.Cocaine platform. This version supports multiple languages like C++, Python, Node.js, and Ruby, to mention a few. The v.0.1 also brings services like elliptic storage, distributed in-memory cache, logging, jabber, etc.

The development has already moved forward with the v.0.2 or PRINCIP in June of 2017. This update brought about functions on top of the ANGE update, like the ICO application and Main Token Contract, Ethereum P2P101 Whisper modified with the FUSRODAH, and so on. The next update that followed the PRINCIP is the ARCH made live in September 2017. This version focused on the most crucial part of the system, which saw the implementation of PayOut DApp. This simple decentralized application allows the hub admin to payout tokens to miners based on their work.

SONM ended 2018 with the v.1.1 update, or THRON, released in November. Following this, the platform saw other updates like the v.04 or POWER in March of 2018. The next update is v.0.5 or VIRT in June 2018 and v.1.0 or DOMIN in August 2018. And in 2019, the SONM platform released the v.1.n update. In 2020, it released v.2.0 or SERA.

What are the applications of the SONM Network?

The SONM network and SNM token are gaining ground in the crypto industry because of their utility. The flexibility of the SONM network makes it relevant in several industries. Below are some of the applications of the SONM network. 

●      Scientific projects

One standout use of the SONM network is to run essential scientific calculations. The SONM network has found use in drug development, bioinformatics, climate prediction, meteor trajectory modeling, etc. The SONM network has also found use in areas where large computer capacity is needed, such as molecular dynamics and quantum mechanics. Fields like molecular dynamics are computational experience that studies intermolecular interaction and small molecule behavior, requiring the largest computer power to model the interaction between biological targets and new medicines.

●      Site hosting

Another area where the SONM network is applied is hosting websites. The advantage of using SONM for site hosting is that it does not require a centralized cloud service like Google Cloud, Azure, AWS, or a hosting provider. Website operators can also use the SONM code snippets to collect payments on their platform in SONM or Ether tokens.

●      Game server

Many MMO games use in-game currencies. Such games can implement SONM’s technology to deploy their game service on the network. On this network, one can easily convert game currencies to SONM tokens. Additionally, gamers can support their favorite game developer by offering their computing resources in exchange for in-game currency or tokens. Developers integrating this service in their games will see better conversion because one can use crypto anywhere in the world.

●      Neutral networks projects

Neutral networks or machine learning algorithms are a powerful technology that has become prevalent in recent years. Neutral networks are so powerful they can emulate the work of the biological brain. With it, one can empower computers to act like humans and sometimes transcend human abilities. Since the main application of machine learning is in speech recognition, sight, translation, data analysis, prediction, and so on, the SONM network is becoming a part of many services like this.

●      Rendering and graphics card

One can use the SONM network for rendering CGI thanks to its large number of computing devices. As such, due to the infrastructural flexibility, clients can rent computer graphics for much faster processing of files. So, instead of renting a K80 NVIDIA unit from Amazon, the client can use the SONM network to rent up to 600 K80 NVIDIA units to complete the task at an incredible speed.

Overall, the SONM network is a worthwhile network to take advantage of. It offers a tremendous list of services that several people can find helpful. Because it is a utility token, if you are considering investing in SONM stock, it will be the best time to invest in it. The SNM token’s price will increase with time as its utility increases. Moreover, the SNM token is a great way to diversify your investment portfolio. You may even come to need the utility of the token later on in your investment.

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