Interested in cryptocurrency investing but not sure what to choose? Well, when looking for crypto to invest in, one must have a precise list of criteria in mind. A trader, for example, should understand the basics of the asset of their choice, as well as its real-world applications, technology, and market data.
In this article, we will look at SONM (SNM) – an exciting and new cryptocurrency – through different lenses.
What Is SONM?
SONM is a marketplace where you can trade computer power via its internal currency called SNM. In other words, users can access SONM’s resources by using SNM.
Without going too much into technicalities, the most essential aspect of SONM is fog computing. Fog computing is the use of a decentralised network that consists of disparate individual computing units rather than a single data centre structure.
What Does SONM Aim to Do?
SONM is a real-world application and global computation platform that can handle various activities, including CGI rendering, scientific calculations, and gaming.
Being a decentralised fog computing platform and a worldwide marketplace, SONM links providers who want to share the idle processing power of their infrastructures, such as servers, desktop PCs, and laptops, with customers who want to rent that power for their projects.
Use cases of the technology include: AI SaaS companies, AI engineers, big data projects, cloud providers, compute-intensive services, computer graphic studios, render farms, render software developers, R&D teams, web services admins, and regular companies with spare computing resources, and white-box application.
SONM in Numbers
Though market data, such as market cap and trading volume, are subject to change as the market fluctuates, analysing figures is vital. As of July 2022, SONM has a trading volume of $89,231 and a market cap of $53,921. Its currently circulating supply is 359,600,000 SNM tokens.
As stated above, you should always conduct your own research. Alternatively, consult a licensed professional to help you understand trends, market data, and technical analysis. The good news is that there are many platforms that could help you find a broker to assist you on your trading journey. Immediate Edge is one of the platforms that could help out, which is growing in popularity among investors. That said, new projects and cryptocurrency trading remain risky. Carry on due diligence.
The goal of SONM is to attract private users and data centres with free computing resources and create an open market where purchasers may find the resources they need to operate their applications competitively.
If interested in SONM, always do your own research. To start with, SONM’s official website contains more information about its platform, available solutions, features, profitability calculator, ICG rendering, and roadmap, among other factors. Joining their community is also beneficial. Note that SONM has a Reddit community with 9,800 members, and they also have 33.1k followers and 1,132 tweets on Twitter.
When choosing a cryptocurrency to invest in, one must consider various factors, including market data, technology, risk management, capital, and more. But that’s not all! One should also consider the impact the company has on our tech-driven society.
Being an organisation that aims to open the crypto technology for everyone and create a decentralised marketplace for computing power – open-source, free of ownership, and less expensive than centralised cloud providers – SONM might be the right asset for some investors!