About Sonm (SNM)

Overview

  The SONM platform offers general-purpose computing services (IaaS, PaaS) based on fog computing as a backend. SONM fog computing will be an alternative to the current centralised cloud-based services available. SONM believe fog computing is a decentralised and more efficient computing model when compared to cloud services. Users of the platform can contribute their computing power to SONM marketplace. In return for supplying their computational resources, they will receive a form of revenue. This access to pooled resources allows developers a more economical means to harness the power they need. They can use the power for creating apps, machine learning, video rendering and streaming, scientific calculations, hosting, and game servers.  

Technology

  The SONM (SNM) token is an ERC20 standard utility token used for payments in the platform. Ethereum smart contracts are used as a consensus system “ensuring transparency and security for the system’s participants”. High-availability clustering prevents failover if a server crashes by using software from Consul, ZooKeeper and etcd. A P2P networking stack provides the ability to work without a public IP. A Docker Container provides an isolated, secure environment to ensure computing parallelism and run within the host machine’s kernel. Also, Kubernetes is an open source cluster orchestration software which automatically manages multiple containers. Overlay networking enables the ability to link different containers in a private network.  

Future Focus

  SONM will be developing version 0.5, nicknamed Virt, in June of 2018. This version will see an application registry added along with Court app. The Court app will filter DAO proposals to give the community an improved tool to use. Version 1.0 will realise the first commercial version of the platform and will include improvements to the graphic UI. Cherub (version 1.n) will consist of the development of SOSNA, Superglobal Operating System with Network Architecture, in 2019. By 2020, version 2.0, nicknamed Sera, will be released and is expected to allow you to operate the system from devices such as Apple watches. SONM believes this will enable you to earn money on the go.

A wallet is essentially a bank account for your cryptocurrency and the wallet address is like your account number. The sender of the cryptocurrency needs a wallet address so they have somewhere they can send it from their wallet, much like a bank transfer. This wallet is giving you access to the blockchain where you can view your balance, send and receive cryptocurrency.

For information please read our beginners guide to cryptocurrency wallets.

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Storing your coins with Wallets

A wallet is essentially a bank account for your cryptocurrency and the wallet address is like your account number. The sender of the cryptocurrency needs a wallet address so they have somewhere they can send it from their wallet, much like a bank transfer. This wallet is giving you access to the blockchain where you can view your balance, send and receive cryptocurrency.

For information please read our beginners guide to cryptocurrency wallets.

Pay with POLI. Its fast!

POLI - internet bankingPOLI is secure and fast. It links directly to your internet banking – login with your normal details and the rest is easy. No extra fees or surcharges. Watch this short video to see how it works.

About Bitcoin

Bitcoin (BTC) is a form of digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds. Transactions are stored on a distributed, immutable, online, public ledger known as a blockchain. Bitcoin was the first truly decentralised cryptocurrency which was created by a programmer under the pseudonym Satoshi Nakamoto and was released in 2009. The system is peer-to-peer, verified by network nodes and recorded in a public distributed ledger called the blockchain. Bitcoin can be exchanged for other currencies, products, and services with over 100,000 merchants and vendors accepting bitcoin as payment. Bitcoin can also be held as an investment. There are only a fixed number of Bitcoin will ever be mined (21 million), it’s not controlled by any one government or central bank, and there’s no such thing as quantitative easing or fractional reserve banking. These qualities make Bitcoin excellent as a store of value and a long-term safe-haven asset, similar to gold.

A Bitcoin success story that went viral on social media is Kristoffer Koch from Norway. Koch invested around $27 in Bitcoin in 2009 and then forgot about it for four years. He remembered about his Bitcoin wallet in 2013, which had then grown in value to $886,000.

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