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
- A2B Direct to Launch a Blockchain Platform and Hold an ICO - June 24, 2017
- The ‘under the radar’ ICO, Populous. A platform tackling the Multi-Trillion Dollar international billings industry. - June 23, 2017
- Blockchain Startup TrueFlip Reinvents Business with 600 Year Long History of Fails - June 23, 2017
- EXMO exchange lists WAVES Blockchain Project - June 23, 2017
- Blockchain Startup DECENT Launch Date Announced - June 23, 2017
- Adex, A Decentralized Ad Network, Taps WINGS Platform For Community Engagement, Token Sale Value Discovery And Social Promotion - June 23, 2017
- Comcast’s Advanced Advertising Group And Participants Announce Blockchain-based Technology Platform - June 22, 2017
- Online Platform for Gamers to Release a Cryptocurrency for In-game Skins Trading; Launches an ICO - June 22, 2017
- Colu Launches Digital “Local Pound, East London” Currency to Empower Local Economies - June 21, 2017
- bitJob.io is Building a Student Employment Program on the Ethereum Blockchain – Launching ICO - June 21, 2017
- Blockchain Project Waves launches landmark USD gateway - June 21, 2017
- Status.im Raises $270m in Three Hours – Shattering Token Raise Record - June 21, 2017
- World’s First Mobile Data Exchange DENT Seeks to Disrupt Telco Market with Blockchain - June 20, 2017
- Financial Inclusion Company Everex Takes Home RemTECH Award For Ethereum Apps - June 18, 2017
- SONM Raises $42 Million in Token Raise - June 18, 2017
- WISeKey partners with the Blockchain Interface company RIDDLE&CODE to develop innovative solutions for securing IoT via Blockchain technology and crypto-hardware - June 17, 2017
- Bancor Announces $153 Million Raise, Largest Token Generation Event in History - June 17, 2017
- CORION Announces Final Coin Sale Details to Build its Revolutionary Platform & Stable-Rate Currency - June 17, 2017
- Enhancing the value of history with ZenDao – ICO announcement - June 16, 2017
- FunFair Announces Token Creation Event on June 22 for World’s Fastest Blockchain Casino Platform - June 15, 2017
- Blockchain Technology Venture Nimiq Announces Token Sale - June 14, 2017
- Outlier Ventures Makes Multi-Million Dollar Investment in Distributed IoT Marketplace ‘IOTA’ Through Major Token Purchase - June 14, 2017
- Bancor Token Allocation Event Smashes Record – Raises over $150 Million - June 13, 2017
- Consensys Introduces Omega One - June 12, 2017
- MetaX and DMA Join Forces to Launch adChain: a Blockchain Solution to Digital Advertising Fraud - June 12, 2017
- Aeternity Raises $24 million Over Phase Two of Token Sale - June 12, 2017
- HyperChain Capital announces Collaboration and Investment in CoinDash - June 12, 2017
- Community-Driven Cryptocurrency Credits Announces First Public Release - June 12, 2017
- Bancor Protocol Foundation Announces New Partners Before Upcoming Token Allocation Event - June 12, 2017
- Investors from Russia are launching a venture fund formed on blockchain - June 12, 2017
- Bancor Adds Heavyweight Advisory Team to their Foundation – Token Allocation Event Kicks off Today - June 12, 2017
- Bancor Protocol Foundation Adds Author and Euro Designer Bernard Lietaer as Chief Monetary Architect - June 10, 2017
- Russian Billionaire Announces Business Incubator on Waves Platform - June 9, 2017
- Bancor Launches Crowdfunding Valuation And Promotion Via Wings Dao On Ethereum - June 9, 2017
- Coinsilium invests in Indorse.io Decentralised Professional Network - June 8, 2017
- Cofound.it Breaks Pre-Sale Record, Selling Out With Priority Pass Before Public Token Sale - June 7, 2017
- Cofound.it Token Pre-Sale Reaches $5 Million Threshold Within Three Hours, Announces First Three Projects - June 5, 2017
- Blockchain Startup DECENT Testnet #2 Launched! - June 4, 2017
- Blockchain Challenge Dubai Announces Winners- Awarded $45,000 - June 4, 2017
- Waves Ceo Sasha Ivanov: Blockchain Will Lead To Rapid Progress Not Only In State Administration, But Also In Business - June 4, 2017
- Exscudo ICO Successfully Concluded – $5M Dollars Raised - June 1, 2017
- Aventus launches Ethereum-based Event Ticketing Solution - June 1, 2017
- Brave Token Sale Blasts Records With $35 Million in 30 Seconds - June 1, 2017
- Japanese Blockchain Startup releases VALU – Social Media Value That Can Be Traded - May 31, 2017
- MetaX and ConsenSys Announce adToken Sale June 26, 2017 - May 31, 2017
- Blockchain Indy Production Start Up to make a TV Series about the Bitcoin Revolution. Fans invest to help tell the story! - May 31, 2017
- Chat Platform Kik to Integrate Kin Token as First Mainstream Adoption of Cryptocurrency - May 31, 2017
- VPN Blockchain Startup Mysterium Network Raises 68,629 ETH ($14,358,975 USD) in under 45 minutes - May 30, 2017
- XinFin Introduces Blockchain-based Institutional Financing Marketplace Alongside Pre-ICO Token Sale - May 30, 2017
- European Energy Companies to Test Peer-to-Peer Trading Over The Blockchain - May 30, 2017