Decentralized computing platforms act as two-sided markets where users pay providers of computing resources. Akash and Render Network have both launched their own utility tokens, and Io.net is about to launch its own utility token as a medium of exchange within its ecosystem.
Both Akash and Render Network are decentralized computing networks — they provide a platform where users can buy and sell computing resources for various tasks.
Akash
It operates as an open marketplace, allowing users to access CPU, GPU, and storage. It provides computing resources that can be used for various purposes, such as hosting game servers or running blockchain nodes.
Akash initially focused on CPUs and has a large amount of CPU network capacity. As the rise of artificial intelligence has led to huge demand for GPUs, Akash has been adding GPU capacity to its network since the third quarter of last year.
Akash is an independent PoS blockchain, and $AKT is the native token used for staking to secure the network and pay network fees. The token also acts as a medium of exchange in the ecosystem, and $AKT is the primary unit of measurement for pricing when users settle transactions or leases on Akash. As a PoS chain, Akash needs to use $AKT issuance to generate block rewards for validators, and the current inflation rate is about 14%
Render Network
Focused exclusively on GPU-based 3D rendering. Render is specialized for rendering 3D images and operates as a physically distributed GPU network. In this model, hardware providers offer their resources and the network uses a multi-layer pricing algorithm to determine prices and match users with buyers of services. Render does not act as an open marketplace where users can independently set prices or terms.
Render Network specializes in providing GPU-based decentralized rendering solutions, which enables them to accumulate a large number of GPUs in their network.
Render Network has migrated from Ethereum to Solana, and the protocol token RNDR is used to exchange value within the Render ecosystem. Creators and users use tokens to pay for rendering jobs.
In order to balance the dynamics between supply and demand of computing resources, Render implements the Burn and Mint Equilibrium (BME) mechanism, when the demand (rendering jobs) is greater than the supply of computing resources, RNDR tokens will be destroyed, resulting in a deflationary effect. Conversely, if the supply is greater than the demand, more RNDR will be minted, resulting in token inflation.
Io.net – A new competitor focused on AI and machine learning
io.net is a new decentralized network that sources GPU computing power from geographically diverse data centers, cryptocurrency miners, and decentralized storage providers to power machine learning and AI computations. It also collaborates with existing decentralized computing networks such as Render to leverage underutilized computing resources available for AI/ML tasks.
io.net is a brand new decentralized computing network that launched a beta public network in November 2023. Despite its short history, io.net has accumulated an astonishing number of GPUs by integrating resources from Render, Filecoin, and its own network.
io.net’s key differentiators:
Focus on AI workloads;
Its emphasis on GPU clusters – a group of multiple GPUs working together as a unified system to handle compute-intensive tasks such as AI training and scientific simulations;
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Note: All content represents only the author’s personal views, is not investment advice, and should not be construed in any way as tax, accounting, legal, business, financial or regulatory advice. Before making any investment decision, you should seek independent legal and financial advice, including advice on tax consequences.
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