Hey Steemians!
Welcome to a new edition of Cryptomian reviews!!! In this article I will be reviewing and analysing different Altcoins for all of you!!! Since this is the first article I will be doing a giveaway of a full upvote for a random commenter on this post if they answer the question at the end!!! Hope you enjoy this new edition of articles!
About SONM
SONM is a decentralized supercomputer network based on blockchain technology. The project will help power a worldwide computer for general purpose computing – from site hosting to simple scientific calculations. The project seeks to replace the hash rate based mining with a fog computer system.
This supercomputer in the making can be used for a wide range of applications from app hosting, video editing and rendering to DNA analysis. Participants interested in mining can leverage the power of their idle computer to become part of the SONM network.
Miners on the SONM network will be rewarded by helping others perform calculations. Any device can be a part of the network just by making available the computing power of their device via the SONM application Pool.
In terms of cost-effectiveness, security and scalability, buyers can benefit immensely from the SONM network. No need for employees or complex infrastructure, data is stored in the fog network and encrypted in the miner’s devices.
Buyers will have the ability to choose what device they need and set the rental time for their project.
Learn more about this ICO here:
Team
I haven’t been able to do much background check on the team because most of the LinkedIn profiles aren’t available but I think they have assembled a strong team to do justice to this project.
Financial
If you plan on investing on this ICO here are some important financial tips on this project. The ICO ran from 15th Jun 2017 to 19th June 2017 with the Token SNM. Price in ICO was 0.59 USD and as of writing it is trading at an average price of 0.18 USD. This represents an ROI of -69.49%
165,680,000 tokens were available for sale in ICO. No soft cap was set and a hard cap of 273399 ETH was in play. At the end of the ICO, $42,000,000 was raised from the public.
3 months SONM Technical Charts Analysis
Three months trendline analysis from the high and low shows a slow and steady decline in price. However, that trend channel has been slightly broken to the upside indicating that the bottom might have flattened out.
A clear and sustained break above the trend line is needed to confirm that the bear market is over and the bulls are gaining the upper hand. If the trendline break is not sustained we will see price move back into the channel or trade sideways for a wide.
Overall, this is an innovative project that has a very bright and promising future. I’m particularly impressed with the idea behind it. They have recently partnered with DBrian a neutral scientific ICO and in Feb 2018 has decided to build an Ethereum sidechain for internal transactions smart contract execution. Now its time for the giveaway!!!! All you have to do is answer the question below and I will choose one of your answers at random and give you a free upvote and follow!!!
What Altcoin do you Want me to Review and Analyse Next?
Disclaimer
The information in this article is just for the interest of Crypto Lovers and should not be considered as investment advice. If you want to take this opportunity, then invest only what you can afford.