You are hereHome Storing compressed text in Ethereum transaction logsFAQ: Which wallet should I use to store SNM tokens?SNM is a ERC20 token issued on Ethereum blockchain.Token holders can easily store and manage their SNM tokens using existing Ethereum clients including .Can participate in the crowdsale without creating an Ethereum address?No, because SNM is a token issued on Ethereum blockchain, so you need to have an Ethereum address to receive and store your SNM tokens.You can use any Ethereum wallet: Ethereum wallet, Mist, Parity, , Jaxx or any other wallet where you have access to the wallet private keys.Do not deposit Ethereum to the ICO using the cryptocurrency exchange account!!!You don't own your cryptoexchange ETH address private key, so will not be able to access your SNM tokens!citizens participate in the token sale event?No, residents of the United States can't participate in the SONM tokens distribution because of the US laws.

You can participate in the SONM ICO if you are neither a U.S.nodejs bitcoin apicitizen or permanent resident of the United States, nor have a primary residence or domicile in the United States, including Puerto Rico, the U.S.ethereum file storageVirgin Islands, and any other territories of the United States.litecoin asic hardwareWhat kind of escrow will you use during the ICO?bitcoin rising llcSONM tokens will be issued automatically via Ethereum smart contract.jordan lee bitcoinICO smart contract code on GitHub will be public and available for audit by anyone.cs go cheat bitcoin

What is the legal structure of SONM project?SONM is incorporated in Singapore.SONM team is international, our team members and advisers are located all over the world.Main operational and development office is currently located in Moscow.Will tokens be available on the exchange after the token sale event?It depends on the crypto exchanges decision to list SNM tokens.We are already communicating with some major cryptoexchanges regarding the SNM tokens trade.Token will be issued on Ethereum blockchain (ERC20), and it will be available for transfer and trade almost right after the ICO.How to migrate SONM preICO tokens (SPT) to SNM tokens?SONM pre-ICO participants will be able to migrate their pre-ICO tokens (SPT) to SNM tokens using the ICO smart contract migration function at the rate of 1 SPT = 4 SNM.(accordingly last editing in token price and increase in the total number of tokens to 444.000.000) Detailed pre-ICO tokens migration instructions will be made available on the ICO page: ico.sonm.io.

What is the minimal amount of funds to be collected during the tokens distribution?The cut-off for funds gathered during ICO is $3 000 000, if this is not reached - the money will be refunded to the participants What will happen if not all available SNM tokens will be distributed during the ICO?In case of the maximum ICO funding cap not being reached, tokens distribution (bounty, SONM team, SONM ecosystem) is proportional to the number of SNM generated during the ICO Will there be more SNM tokens issued after the crowdfunding?No token creation, minting or mining will be available after the crowdfunding period.At the end of the ICO, SNM token creation will be closed permanently.Recently I have been interested in the crypto-currency called Ethereum.This crypto-currency runs “smart contracts” on its blockchain.The meaning of the term smart contract took me awhile to grasp.In Bitcoin the system is setup so that users can transfer coins on the blockchain (technically UTXO, or unspent transactions).

With Bitcoin the blockchain is a ledger recording these transactions.On the Ethereum system, code is actually being run on the blockchain.This code is considered a smart contract.When a computer is mining Ethereum it is also running the code encoded in a contract.Contracts are written in the language Solidity which is a custom language written for Ethereum.Solidity is similar to Javascript and runs it own virtual machine called the Ethereum Virtual Machine (EVM).For more in depth details the Ethereum Wiki is good place start.One of the most interesting claims of Ethereum and the Solidity language is that it is a Turing-complete language.This means that anything a Turing machine can do, the Solidity language is capable of doing.It is a strange claim considering Turing completeness is a theoretical concept which cannot be proven.The reason it cannot be proven is that for every possible Turing encoding, it would have to be shown that a Solidity program exists which can do the same.When an Ethereum contract is submitted to the blockchain there is a potential problem that the program will never halt.

In this case miners for the blockchain would be doing useless work forever.To mitigate the halting problem, Ethereum introduces the concept of “gas” which is used by contract writers to pay for computation and memory consumption.I recently examined how the gas concept works.There a different prices for gas depending on the context.It is my opinion this system is overly complex and has many potential failure points.21,000 gas is the base fee for any transaction.For data, 4 gas is used for a zero byte, and 68 gas for a nonzero byte.For storage, 20,000 gas is required to change a zero value to a non-zero value, 5,000 gas to change a zero value to a zero value or a nonzero value to a nonzero value, and 5,000 gas to change a nonzero value to a zero value.There is a potential for a 20,000 gas refund at the end of a successful transfer.For messages, there is no cost as no copies are required by the blockchain, only a simple pointer lookup is needed.For memory, it is expandable array where gas costs 1 per 32 bytes of memory expansion.

Then there are various other OPCODES which have variable costs.OPCODES are generated by the Solidity language which are byte-code for the Ethereum blockchain.EXP (exponent) – costs 10 + 10 per byte in the exponent CALLDATACOPY – variable CODECOPY – variable EXTCODECOPY – 1 + 1 per 32 byte copies CALL – costs 9000 gas if the value is nonzero Additionally miners have the right to set the gas limit, but it can only be changed gradually.Many of the rules for gas are complex and have arbitrary costs.I am not sure where they got the cost for the gas numbers; my guess is they got them empirically by seeing how much an average contract consumes.I could see many cases where a contract abuses these rules based on a price mismatch.Recently a smart contract called TheDAO was hacked.TheDAO is one of the first smart contracts written being run on the Ethereum blockchain.The “Decentralized Autonomous Organization” gathered a lot of hype and money until somebody generated a recursive call structure which kept paying themselves money.