This week’s featured project, as it topped our ranking of the best performing tokens of last week, is Sonm, a global company that provides cloud services based on distributed customer level hardware including PCs, mining equipment, and servers, while also offering a platform for renting hardware.
Their sudden rise last week could be related to their latest press release announcing the plans for SONM DAO, a Decentralized Autonomous Organization that will be able to fulfill the need of a section of Sonm’s userbase in an entirely decentralized manner. But let’s learn more about the base project before discussing this variation:
Cloud Computing and its Rise
With software evolving at a rate similar to hardware, more and more demanding tasks can be programmed and performed by any computer that meets the necessary requirements.
The problem arises when users interested in these tasks cannot afford to purchase a computer that fulfills their needs. Hardware is growing increasingly more expensive and, more often than not, it’s deemed not worth it to spend large amounts of money into equipment that will need to be replaced in a short time, given software keeps evolving.
A solution to this comes in the form of cloud computing, a system where a user can “rent” a machine suited for their needs only for the time they require, which makes it remarkably cheaper, and the owner of the machine pays off their investment by making use of it 100% of the time. The most popular and effective use for this kind of service are rendering farms, where animation projects and studios rent servers to render their final products in a shorter time while spending less in assembly and power consumption.
Or course, much like many other digital services, the implementation of blockchain can bring great benefits to both the providers and the consumers. Transparency and autonomy are always welcome, and a potential for global reach (due to fast data transfer via decentralized networks) is the cherry on top. And that’s what Sonm is here to offer.
The Golden Touch of Blockchain
With all the benefits of blockchain, it was only a matter of time for a project like Sonm to propose its implementation into the world of remote computing. And they want to do it right by offering blockchain-based platforms where users can rent out their powerful machines to generate revenue while they are not using them, and enthusiasts can quickly find computers that meet their requirements, with every transaction tightly protected by the decentralized nature of blockchain.
Not only that, but they also offer the network as a “cloud blockchain service” powered by the Ethereum blockchain, which users can rent to create their own apps and platforms on top of it, and this is what gives Sonm an edge over potential competitors and can make them a reference in terms of offering great fees and performance when it comes to video rendering, machine learning, CDN, video streaming and peer-to-peer networking.
With a vision like this and the announcement of their DAO platform, it’s no wonder their popularity is on the rise, so it could be a good decision to follow Sonm for the near future to evaluate their possibilities of success.