About io.net🌐
io.net positions itself as the world’s largest decentralized computing network designed to power up machine learning (ML) and AI applications at a fraction of the cost of centralized services.
Prior to June 2022, io.net was exclusively devoted to developing institutional-grade quantitative trading systems for the US stock market and the cryptocurrency market. In April 2023, after rebranding itself as the "internet of GPUs", io.net became one of the winners of the Solana Hackathon and launched the network in November.
Technically, $IO is a Solana-based DePIN project that aggregates the computing power of more than a million GPUs from independent data centers, crypto miners, and crypto projects such as Filecoin or Render. A Decentralized Physical Infrastructure Networks (DePIN), leverages blockchains, IoT and the greater Web3 ecosystem to create, operate and maintain real-world physical infrastructure. In a DePIN network, token incentives are used to coordinate, reward and safeguard members of the network.
Io.net uses the Solana blockchain to provide transparent proof-of-compute and make every transaction between supplier and consumer visible on-chain. The IO token, in turn, provides a unified transaction experience for users and enables incentive mechanisms for suppliers, customers, and users to participate and grow the network.
Prospects 👩💻
According to Ahmad Shadid, founder and CEO of io.net: "The demand for GPU compute capacity for AI applications is more than 2.5 times the capacity that exists in cloud services like AWS and Azure today, increasing costs and lead times for everyone." For this reason, io.net intends to disrupt the cloud computing market with its decentralized permissionless model: while it can take weeks to obtain GPU compute from traditional centralized cloud providers, such as AWS, io.net makes it possible to get access to distributed clusters in seconds.
The project is already backed by a solid ground of investors, including Solana Ventures, Multicoin Capital, and Hack VC. ⭐️⭐️⭐️
According to Shayon Sengupta from Multicoin Capital: GPUs are "the scarcest commodity in the world" and industry analysts are "still radically underestimating" how much computing power will be needed to fuel the next generation of AI apps. "Io.net has the potential to democratize GPU computing", he added.
According to Ed Roman from Hack VC: "Io.net saves customers up to 90% on their cloud AI costs. In an age where GPU chips are in high demand with global shortages, that is simply an incredible accomplishment."
As seen above, there are many positive points for the IO project!
Also as said Ahmad Shadid, founder and CEO of io.net the demand for GPU compute capacity is extremly high! We can therefere expect that the recent hype around artificial intelligence (AI) and the huge enthusiasm surrounding GPU tokens should continue to be strong over time! 📈
Let's not forget to highlight "Nvidia shares passed a historic milestone on Wednesday, with a new record high of $1224.40, which pushed the capitalization above $3000 billion, allowing the AI chipmaker to pass Apple (NASDAQ:AAPL)"💥
So investors are out in force to speculate on these new technologies! With the large team behind the project and the many partnerships already built, IO token seems to be a solid choice for the long term!
An you, do you think that the AI and GPU sector will be a top trend in the new bull run to come? 👀🚀