SONM (BEP-20) PriceSNMInactive

What is SONM (BEP-20) (SNM)?

SONM (BEP-20) (SNM) is a decentralized, global system for general-purpose computing, implemented as a fog computing structure. It strives to provide cloud services by harnessing the unused computing power from a variety of devices owned by individuals around the globe, including personal computers, dedicated mining rigs, and even larger servers. The platform operates on the principle of fog computing, which aims to create a vast, decentralized network of devices capable of providing computing resources. This approach stands in contrast to traditional cloud computing models that rely on centralized data centers. The SNM token is the native currency within the SONM ecosystem and functions as an internal currency on the computing power marketplace. It facilitates transactions and interactions on this marketplace, allowing users to rent out their idle computing resources or, conversely, to access the computing power of others for their own needs. SNM (BEP-20) has been listed on CoinMarketCap since May 19, 2021. The project previously used an earlier version of the token and later completed a token swap to the current BEP-20 standard on BNB Smart Chain. The total supply of SNM is 332,312,235.93622 tokens (approximately 332.31 million), and the circulating supply equals 100% of the total supply.

Key Specifications & Tokenomics

• Name: SONM (BEP-20)
• Ticker / Symbol: SNM
• Blockchain / Platform: BNB Smart Chain (BEP-20 token standard); also live on Ethereum
• Token Standard: BEP-20
• Consensus Mechanism: Not applicable to the token itself — SNM is a BEP-20 token on BNB Smart Chain, so transaction validation and consensus are provided by the BNB Smart Chain network, not by SNM holders.
• Start Date: 2021-05-19
• Total Supply: 332.31M SNM (332,312,235.93622 SNM)
• Circulating Supply: 332.31M SNM (100% of total)
• Max Supply: Not specified
• Contract Address (BNB Smart Chain): 0x46d0DAc0926fa16707042CAdC23F1EB4141fe86B
• Official Website: https://sonm.com/
• Whitepaper: https://docs.sonm.com/
• Block Explorer: https://bscscan.com/token/0x46d0DAc0926fa16707042CAdC23F1EB4141fe86B
• Tags: BNB Chain Ecosystem, DEX
• CertiK Rating: 3.5
• WKN / ISIN: XFC000099311
• Source Code: github.com/sonm-io
• Community: t.me/sonm_eng, reddit.com/r/SONM, twitter.com/sonmdevelopment

Who created SONM (BEP-20)?

SONM's official materials do not name individual founders. The project publishes its code on GitHub (github.com/sonm-io) and communicates through its official Telegram and Twitter channels. The project has a presence on social media through its Twitter account, and it maintains a community page on CoinMarketCap. SONM has undergone a token swap, moving from an earlier version of the token to the current BEP-20 standard on BNB Smart Chain. Bitget delisted SNM on August 22, 2023, and its symbol is marked as delisted on TradingView.

How does SONM (BEP-20) work?

SONM operates on the principle of fog computing, which involves the use of a decentralized network formed from disparate individual computing devices, as opposed to a single data center structure. This architecture allows the platform to aggregate unused computing power from a wide range of sources, including personal computers, mining equipment, and servers. Users can either rent out their hardware or use someone else's computing power for their needs. The SNM token serves as the internal currency on this computing power marketplace, facilitating transactions and interactions between participants. The BEP-20 token standard ensures compatibility with a wide range of decentralized applications and services within the Binance ecosystem, while the token also maintains a presence on the Ethereum network.

What makes SONM (BEP-20) unique and valuable?

The main idea behind SONM is the use of a decentralized network formed from disparate individual computing devices, as opposed to a single data center structure. This fog computing approach aims to create a vast, decentralized network of devices capable of providing computing resources, which is in contrast to traditional cloud computing models that rely on centralized data centers. This creates a flexible and potentially more cost-effective alternative to conventional cloud computing solutions, especially for tasks requiring significant computational resources. The platform's ability to harness idle computing power from a variety of devices owned by individuals around the globe represents a novel approach to cloud services. The project's materials describe a user-centric security approach in which users control their own accounts and passwords; no independent audit of this feature is cited in available sources. The token's compatibility with both BNB Smart Chain and Ethereum further extends its potential utility and accessibility across multiple blockchain networks.

What is SONM (BEP-20) used for?

The SNM token is the native currency within the SONM ecosystem and functions as an internal currency on the computing power marketplace. It facilitates transactions and interactions on this marketplace, allowing users to rent out their idle computing resources or, conversely, to access the computing power of others for their own needs. With SNM, users can get access to the resources provided by SONM, enabling them to perform tasks that require significant computational resources without relying on traditional centralized cloud providers. The token essentially serves as the medium of exchange for buying and selling computing power within the network. This creates a flexible and potentially more cost-effective alternative to conventional cloud computing solutions. The token's utility is directly tied to the platform's core function of matching providers of idle computing resources with consumers who need them, all facilitated through the SNM token on the BEP-20 standard.

How Is the SONM (BEP-20) ecosystem developing?

The SONM ecosystem is centered around its decentralized computing power marketplace. The project maintains an official website and documentation portal, and it has a presence on social media through its Twitter account. Compatible wallets listed in available sources include Binance Chain Wallet and MetaMask. Trading pairs listed in available sources include SNM/USD, SNM/BTC, SNM/EUR, and SNM/GBP. However, the ecosystem has faced challenges, including a delisting from Bitget on August 22, 2023, and its symbol being marked as delisted on TradingView. Available sources note a token swap to the BEP-20 standard and a Bitget delisting in August 2023; no official statement on the project's current development stage is cited.

How to mine SONM (BEP-20)?

SNM is a BEP-20 token on BNB Smart Chain and does not have its own mining or staking mechanism. New SNM is not issued through mining; the token's total supply is fixed at 332,312,235.93622 SNM. Holding SNM does not by itself generate staking rewards — any yield would have to come from third-party platforms, which should be verified independently.

How to keep your SONM (BEP-20) Coin safe?

Keeping your SONM (BEP-20) tokens safe requires a multifaceted approach that integrates both technical and community-driven mechanisms. The foundation of security lies in the empowerment of users through the control of their own accounts and passwords, a fundamental practice in safeguarding digital assets. Users should consider using non-custodial wallets such as NOW Wallet, which supports SONM (BEP-20) and is free of custody, available on both Binance Smart Chain and Ethereum networks, and operational 24/7 with a 24/7 support team. Binance Web3 Wallet can also be used to connect to decentralized exchanges to buy SONM (BEP-20). For those holding SNM on a custodial exchange account, be aware of counterparty and custody risks. Potential users and investors are advised to conduct thorough research and understand the specifics of how the platform and its token operate within the broader blockchain and cryptocurrency landscape, including the risks and benefits of participating in such a decentralized system, especially considering the volatility and regulatory uncertainties that can affect the cryptocurrency market.