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What Is SONM

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Sep 7, 2022
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4 min read
what-is-sonm

This blog post will cover:

  • About SONM (SNM)
  • Where did SONM (SNM) come from?
  • What are the advantages of SONM (SNM)?
  • What are the disadvantages of SONM (SNM)?
  • How to buy SONM (SNM)?

About SONM (SNM)

SONM is a decentralized global platform made for fog computing. It appears as a sustainable alternative to giant cloud services. Machine learning, calculations, video rendering and many more are among the spheres of SONM usage.

SNM is a utility token of the SONM platform. It’s an ERC-20 token which is built on the Ethereum blockchain. One of the main functions of SMN is paying the equivalent of computing powers.

Where did SONM (SNM) come from?

SONM was launched in 2018 by Aleksei Antonov and Sergei Ponomarev. The team of SONM aimed to build a worldwide decentralized marketplace of computing powers. Among the core goals of SONM — delivering people and businesses an opportunity to freely use a large amount of computing resources, give owners of computing resources a chance to benefit from renting them out, and of course, create a true alternative to cloud computing giants.

What are the advantages of SONM (SNM)?

  • An alternative to centralized cloud companies. Being scalable, cost effective and ready to face the future, SONM seems to be a great alternative to the existing cloud computing brands. 
  • Wide range of opportunities. Customers and suppliers get a chance to benefit from joining the platform — SONM offers a lot of perks for its users, which seem to be more attractive than centralized services’ ones. SONM supports almost all types of hardware resources, customizable rental options, exceptional security etc.

What are the disadvantages of SONM (SNM)?

  • Team issues. There was some strange behavior coming from the team before and during the SONM ICO. It raised some suspicion, because a third, neutral party should be involved with some kind of financial instrument due to the ease of committing fraud.
  • Weak marketing. SONM definitely lacks a good promotion. As a strong project, it needs more resources to advertise itself. As for now, it’s mostly popular in Russia, but the team has all the instruments to let more countries and people know about SONM.

How to buy SONM (SNM)?

Interested in SONM project and want to purchase SNM? Visit the SimpleSwap homepage. Follow our instructions to buy SNM:

  • Choose the currency you want to exchange (e.g. BTC) in the first drop-down list. Enter the amount you would like to swap.
  • Select SNM in the second drop-down list. You will see the estimated amount that you will receive after the exchange.
  • Click the Exchange button.
  • Enter the Recipient's Address. SNM will be sent to this address. Be careful and make sure you use the correct address.
  • Create the exchange.
  • You will see the Bitcoin deposit address. You need to transfer the necessary amount of BTC to this address to start the exchange.

SimpleSwap reminds you that this article is provided for informational purposes only and does not provide investment advice. All purchases and cryptocurrency investments are your own responsibility.

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