SONM Powers Up Fog Platform as a Blockchain Marketplace for Computing Power
In a recent release, SONM, an open-source decentralized system and blockchain-based marketplace, announced the launch of its fog computing platform. It is designed to allow users to connect their personal devices to one platform, creating a decentralized marketplace where consumers and suppliers can rent and purchase computing power from one another to be used for specific computing tasks.
The SONM marketplace consists of suppliers and consumers that either rent out or purchase computing power to perform their tasks. Consumers that connect to the virtual space can select a rental time and volume of resources, calculate the cost accordingly, and buy the available power needed for their projects. While the power resources are at their disposal, consumers can take advantage of SONM’s capabilities to make scientific calculations, work with machine learning and big data, render videos, host apps and websites, and manage data storage.
Users of the new platform are able to solve computing tasks with the use of GPU, CPU, free disk space, or RAM and network bandwidth, without the need to purchase any special equipment. To get started, PC or server owners just have to install, then customize the SONM software. For suppliers of computing resources, SONM offers a viable alternative to mining, allowing them to earn not only from searching parameters for hash keys, but also by completing real business tasks.
In order to start working on the platform, both consumers and suppliers of computing resources must purchase SONM tokens, named ‘SNM.’ The suppliers, who are the owners of the computing power, earn SNM tokens when they sell computer resources to the consumers. Interaction between the supplier and consumer is automated and takes place directly (P2P) via a blockchain marketplace. A smart contract ensures the fulfilment of payments.
The SONM infrastructure is suitable to run any software on Linux, including commercial software with closed source code. The computing resources of GPUs are ideal for the solution of tasks linked to machine learning, big data analysis and rendering. SONM can also be used for the storage of large data sets. Additionally, SONM is suitable for mining any kind of cryptocurrency, offering consumers a minimum basic income from mining. SONM will launch a bot that will monitor the crypto market and automatically channel the resources of the idle equipment to mining.
“It’s our dream to provide an alternative to the cloud that can complete more than one task amongst a variety of clients and their computational needs,” said Aleksei Antonov, co-founder, SONM. “Based on blockchain technology and by using fog computing services, we have built a environment where cryptocurrency and computing power resources can complement each other, with an expanding potential that comes from the millions of devices connected to our platform, globally. SONM’s vision for the future includes a set of masternodes that will secure the marketplace that operates on our own blockchain network. The masternodes will be set up by the SNM token holders themselves, and they will be rewarded for performing the action.”
Ken Briodagh is a writer and editor with more than a decade of experience under his belt. He is in love with technology and if he had his druthers would beta test everything from shoe phones to flying cars.
Edited by Ken Briodagh
