Token

Aptos

Launchpool

Io.net, a leading decentralized physical infrastructure network (DePIN), partnered with Flock.io, a decentralized AI training platform, to introduce "Proof of AI" (PoAI), according to an Aug. 29 CoinTelegraph report.&nbsp;
This new consensus mechanism, claimed to be the first of its kind, aims to enhance the integrity of decentralized networks, particularly in the growing field of artificial intelligence (AI).
<h2 dir="ltr" id="span-span-a-consensus-mechanism-span-span">A Consensus Mechanism</h2>
Unlike traditional consensus mechanisms that primarily validate transactions, PoAI focuses on verifying the integrity and performance of compute resources within decentralized networks. As a result, only genuine contributors are rewarded, while those who simulate contributions are penalized.
<blockquote>
 "PoAI enables decentralized networks to become a more trusted and scalable solution for AI applications," Milan Amin, Chief Marketing Officer at Ionet, stated. "It ensures that honest contributors are fairly compensated, while those looking to exploit the system are effectively deterred."
</blockquote>
<h2 dir="ltr" id="span-span-ensuring-decentralized-integrity-span-span">Ensuring Decentralized Integrity</h2>
The primary function of PoAI is to substantiate DePIN node integrity in an "AI-native" manner. This means that Ionet’s decentralized network will now have a system for verifying the authenticity of contributions.&nbsp;
&nbsp;
In this way, the network is reportedly more secure and reliable for businesses and developers who want to provide decentralized AI solutions.
&nbsp;
The implementation of PoAI will compile node judgments within Ionet, providing a transparent and immutable record of resource contributions.&nbsp;
<h2 dir="ltr" id="span-span-strategic-partnerships-and-expanding-horizons-span-span">Strategic Partnerships and Expanding Horizons</h2>
The introduction of PoAI follows that of Io.net’s recent strategic partnerships and developments.&nbsp;
&nbsp;
Binance&nbsp;<a style="text-decoration:none" href="https://www.binance.com/en-IN/support/announcement/introducing-io-net-io-on-binance-launchpool-farm-io-by-staking-bnb-and-fdusd-6556e3b5aae54c76adb0fd267b105a15" rel="noopener noreferrer nofollow">revealed</a> Ionet as its 55th Launchpool project a few months before this announcement, with the IO token now available for trading.&nbsp;
&nbsp;
In addition to its partnership with Binance, Ionet has also teamed up with Aptos Labs. Together, they aim to create a transparent and immutable ledger of resources and creations generated by AI.&nbsp;
<h2 dir="ltr" id="span-span-the-role-of-the-io-token-span-span">The Role of the IO Token</h2>
Central to Ionet’s ecosystem is the IO token, which has been dubbed the "currency of computing power." The IO token allows users to access global computing resources within the Ionet network.&nbsp;
&nbsp;
With a fixed supply of 800 million tokens, 300 million of which will be gradually distributed over 20 years, the tokenomics of IO are reportedly designed to encourage long-term participation and stability in the network.
&nbsp;
The IO token also plays a crucial role in governance, empowering token-holders to make decisions that will benefit the protocol and its key stakeholders.&nbsp;
&nbsp;
Ionet is a decentralized physical infrastructure network (DePIN) that&nbsp;<a style="text-decoration:none" href="https://docs.io.net/" rel="noopener noreferrer nofollow">specializes</a> in deploying and managing on-demand decentralized GPU clusters from geo-distributed sources. Ionet aims to democratize GPU compute capacity, reducing costs, accelerating lead times, and expanding options.&nbsp;

Io.net and Flock.io Launch World’s First Proof-of-AI Consensus Mechanism

Table of Contents

BSCN

Other articles published on Sep 6, 2024

Implied Volatility Soars as Perp Open Interest Drops, New Bybit Report Reveals (6 Sep)

The New Game-Changer Has Emerged: Artemis Presale Success

Fundamental BONE Statement Issued by SHIB Team

Crypto.com Announces Strategic Partnership with Standard Chartered Bank to Expand Global Retail S...

Binance Kazakhstan Secures Full Regulatory License from AFSA

Russia May Rely on Domestic Crypto Exchanges to Evade Sanctions, Chainalysis Warns

Join our free newsletter for daily crypto updates!