Depin is a bridge between blockchain and the physical world. It can be said to be one of the most important areas of crypto investment now and in the next decade. ionet is undoubtedly one of the best. The project spans the concepts of AI + Depin + Solana, and almost hits all the hot spots! In March, it completed a $30 million Series A financing, and investment institutions included Hack VC, Multicoin, etc., which is quite luxurious! Next, let's take a detailed interpretation.
Nowadays, more and more companies and consumers are embracing AI, but the bottleneck of computing power is becoming increasingly difficult to ignore. The computing power required for AI systems doubles every few months, but the supply of computing resources is stretched. In addition, the cost of training large-scale AI models continues to soar, increasing by about 3,100% per year over the past decade! http://Stability.AI The cost of running GPUs on AWS alone is more than $50 million a month!
The high cost of computing power has created a huge obstacle to the development of AI. There is an urgent need for an affordable, on-demand computing power platform, which can only be achieved with the help of blockchain technology. ionet is such a project, which uses a decentralized approach to realize the shared economy of GPUs. Suppliers use it to provide idle computing power, and demanders use it to meet machine learning needs. The matching of supply and demand is timely, affordable, and permissionless!
ionet's architecture includes the underlying IO network, IO engine, IOG, and IO Element. The IO network is a decentralized GPU network that uses a mesh VPN architecture to provide ultra-low latency communication between nodes, ensuring high efficiency of GPU resource sharing and processing. The IO engine is a programmable computing layer built on the IO network. These elements together form a complete ecosystem dedicated to providing AI computing solutions.
ionet is positioned not only to compete with other web3 AI projects, but also to replace traditional cloud platforms. It has the following advantages:
- Low cost and high efficiency: It can achieve 90% cheaper service costs and complete deployment within seconds.
-Supports large-scale scheduling: It can support 500,000 GPU clusters, which is more than AWS or GCP can centrally schedule.
- Huge potential in the future: It will host artificial intelligence models in the future, similar to Bittensor now.
Currently, io.net aggregates GPUs from RNDR, FIL and its own network. The number of GPUs running on its own network alone exceeds 400,000, and the number of CPUs exceeds 43,000, of which more than half of the GPUs are active. Currently, the IO network has more than 300,000 GPU providers, which has increased fivefold in less than a month! Its network nodes are distributed in more than 70 countries and are highly decentralized.
Let’s talk about the IO team:
Founder and CEO Ahmad Shadid has extensive experience in data science. COO Tory Green has more than 20 years of experience in venture capital and senior management. CSO & CMO Garrison Y. was the head of Growth & Strategy at Ava Labs, the leading developer of Avalanche blockchain, before joining IO. Angela Yi in the team graduated from Harvard.
Let’s talk about IO’s financing background
It received $30 million in Series A funding on March 5 this year, with a valuation of $1 billion! The lead institution is Hack VC, and other investors include Multicoin Capital, Solana Ventures and OKX Ventures, which is a very luxurious lineup!
Among institutional investors:
-Hack VC: has more than 100 investment records and has invested in many successful projects such as Consensys, Sui and Helium
-OKX Ventures: is an investment institution under OKX
-Multicoin Capital: The most successful crypto investment institution, its crypto hedge fund has achieved a return rate of 9281% since its launch in 2017
-Solana Ventures: Solana’s investment platform
Among individual investors:
-Anatoly Yakovenko: Co-founder and CEO of Solana
-Sebastien Borget: Co-founder and COO of Sandbox
-Yat Siu: Animoca Co-Founder and Executive Chairman
Currently, ionet has announced plans to launch IO tokens within two or three weeks after the Bitcoin halving. There are currently two main ways to obtain airdrop qualifications:
-Galxe activities: The tasks mainly include following and forwarding Twitter, joining the community, etc. The most time-consuming tasks are Discord tasks, which require obtaining different Tier roles in the official Discord group. You can increase your activity by participating in the AMA every Wednesday, speaking, and posting memes.
-Testnet mining: Deploy the machine according to the graphic and video tutorials on the official website. You need to download docker first, and then install the node. It should be noted that in order to avoid the machine being offline as much as possible, it is recommended to use a VPN global proxy and first find a ladder that can run stably. The number of airdrops depends on many factors such as device model, quantity, network speed, duration, stability, etc.
Summary: ionet can effectively solve the computing bottleneck in the context of the rapid development of AI, and provide cheaper, more efficient and customized services to the artificial intelligence market than traditional cloud computing companies. It raised $30 million from major well-known investment institutions with a valuation of $1 billion. The strong technical advantages and financing background mean that it will become a rising star that cannot be ignored in #Depin. Let us look forward to its products being launched globally and reconstructing a new paradigm for GPU resource utilization!
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