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What is SONM (SNM) coin and how does it work?

by Financial Economy

SONM (SNM) is a cryptocurrency built on Ethereum and the BNB Chain. With SNM coin, users can present their computers with high computing power to other users. In this article, you can find answers to questions such as what is SONM (SNM)  coin, how it works, how to get it, which exchange is available on, what is it used for, etc. You can browse here for information about Valencia CF Fan Token (VCF).

What is SONM (SNM) coin and how does it work?

Cloud storage and computing services have started to find a place in the blockchain space in recent years. While many new projects gravitate towards this area, some of the old projects have rebranded themselves. This trend is now largely dominated by traditional tech giants. Big companies like Google, Microsoft and Amazon already hold most of their cloud services space. However, the services offered by giant companies are criticized for issues such as user privacy, cost and security.

Taking these criticisms into account, SONM (Bep-20) was built on Blockchain, and was founded in 2017 by Alexei Antonov. The project aims to decentralize cloud services similar to Filecoin. For this, it works with a distributed computing architecture. All users can participate in this network and offer cloud storage services. However, users can purchase cloud storage areas over the network at extremely low prices. All this is possible with SNM coin, SONM’s native cryptocurrency.

How to use SNM token?

SNM coin is a cloud-based and decentralized computing network. With SNM coin, users can present their computers with high computing power to other users. This means that users can rent storage space by paying cryptocurrencies.

All rental transactions within the ecosystem take place in SONM’s cloud service marketplace. In this computing power market, users can be a seller and a customer at the same time. However, all sales are in the form of SNM coins. In addition, the network places importance on security as well as decentralization in cloud services. All sellers and buyers have a rating similar to their credit rating. It becomes difficult for users with low scores to access and use the platform.

Which exchange is SNM coin on?

SONM coin is listed on some cryptocurrency exchanges such as Binance, Bitget, Tapbit, XT.COM, Bibox, etc.

How to buy SNM coins?

SONM coin can be purchased from listed some cryptocurrency exchanges, like mentioned above. However, before trading, it is necessary to make sure that the exchange and the crypto project are “RELIABLE”. It is so important point for investors.

SNM token supply!

Total supply of SONM token is 44.400.000 units.

SNM token price!

As of January 27, 2023, at the time of the writing, 1 SONM coin price is around $1,11 (because of the volatility on crypto market the price can change instantly).

Caution: The information contained in this content is for general informational purposes only. It is not investment advice.

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