SONM Announces ICO

May 18, 2017         By: Mike Dautner

SONM, the universal fog supercomputer powered by blockchain technology, has announced its Initial Coin Offering, commencing June 15, 2017 and concluding July 15, 2017.

By modifying the algorithms behind traditional cloud and grid networks, SONM will be the first distributed supercomputer for general purposes, from site hosting to DNA analysis to scientific calculations.

SONM will be expected to issue tokens of the same name on the Ethereum blockchain.

SONM CEO Sergey Ponomarev said: “Market demand for computing power is rising exponentially across a range of industries. SONM’s unique offering directly responds to this demand by making use of idle standing computing power to solve non-deterministic tasks like hosting websites, the backend for mobile apps, and massively multiplayer online gaming (MMO instances). Any miner with a smartphone or supercomputer cluster can become a part of SONM’s fog network and generate computing power to be used by others.

“Fog computing with its greater innate potential, is widening the scope of what cloud computing can achieve by bringing solo miners, private datacenters, public clouds, and IoT into the network. The SONM platform, based on BTSync’s data transmission software and Yandex Technologies’ open source code for decentralized computation, is an integration of the most advanced solutions in the field of fog and cloud computation,” he added.

By hybridizing fog computing with an open-source PaaS technology, the SONM platform will offer a full spectrum of services, including app development, scientific calculations, website hosting, video game server hosting, machine learning for neural networks, video and CGI rendering, augmented reality location-based games, and video streaming services.

The company also offers an opportunity for miners to earn tokens efficiently by serving calculations for everyone in the network. This allows any smart device anywhere in the world to take advantage by joining the fog network and selling computing power P2P via the SONM Application Pool.

Sergey Ponomarev said: “In recent years, being a part of a pool has been the only way to profit from mining, but this method often doesn’t even cover electricity costs associated with Proof-of-Work (PoW) mining. SONM will reduce miners’ costs by eliminating the need for PoW mining and by suggesting the most profitable applications and tasks for each miner’s hardware.”