Supercomputer Organized by Network Mining (SONM) announces ICO

Platform lets miners anywhere in the world join fog computing network

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SONM (Supercomputer Organized by Network Mining), 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 conventional 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 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.

SONM also offers an opportunity for miners to earn tokens efficiently by serving calculations for everyone in the network. Any smart device 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.

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.”

SONM tokens will be used by buyers of computing power to pay for the calculations executed via the smart contracts-based SONM platform. Tokens will be created exclusively during the crowdfunding period. No token creation, minting or mining will be available after the crowdfunding period. The funding cap will be confirmed according to the ETH/USD conversion rate before the ICO begins. A progressive bonus structure will exist for the first 70% of tokens sold in the ICO.

The funds raised in the crowdsale will be distributed as follows: 33% is reserved for marketing promotion, market growth, community, and expansion; 30% for research and development including team expansion, and advisers; 20% for the original SONM team; 7% for complementary technologies; 6% for technology infrastructure; and the remaining 4% for other indirect costs such as legal and office expenses.

Sergey Ponomarev said:

“The SONM platform can also be used for providing decentralized services in a heterogenous computing environment, which is expected to be a cornerstone of the future of computing. Given SONM’s reputation system and intelligent agents, we expect SONM to be the smartest, cheapest, and largest decentralized computing system with strong rules regarding morality and loyalty.”

Investors can participate in the SONM ICO using BTC, ETH and other major cryptocurrencies. The SNM token basic price is 1 ETH = 606 SNM. The amount of SNM tokens to issue for the other cryptocurrencies (except Ethereum) deposits will be calculated according to the current exchange rate of this cryptocurrency in Ethereum.

More information, the SONM whitepaper and business overview are available at http://www.sonm.io

About Richard Kastelein

Richard Kastelein is the Founder, Publisher and Editor in Chief of industry leading online publication, Blockchain News, co-founder and director at education company Blockchain Partners and partner of token design and ICO architecture company Cryptoassets Design Group.

As a prominent keynote presenter, Kastelein has spoken on Blockchain at events in Gdansk, Amsterdam, Minsk, Dubai, Antwerp, Eindhoven, Bucharest, Munich, Nairobi, Tel Aviv, Manchester, Brussels, Barcelona. San Meteo etc, where he helped spread the cause for Blockchain technology and cryptocurrency and, consequently, has built a notable network in the scene.

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