• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Io.net and Flock.io Announce New Consensus Mechanism PoAI

user avatar

by Giorgi Kostiuk

a year ago

  1. A Consensus Mechanism
  2. Ensuring Decentralized Integrity
  3. Strategic Partnerships and Expanding Horizons


    4. Io.net, a leading decentralized physical infrastructure network (DePIN), partnered with Flock.io, a decentralized AI training platform, to introduce a new consensus mechanism, Proof of AI (PoAI). According to an Aug. 29 CoinTelegraph report, PoAI aims to enhance the integrity of decentralized networks, particularly in the growing field of artificial intelligence (AI).

    A Consensus Mechanism

    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.

    "PoAI enables decentralized networks to become a more trusted and scalable solution for AI applications. It ensures that honest contributors are fairly compensated, while those looking to exploit the system are effectively deterred."Milan Amin, Chief Marketing Officer at Ionet

    Ensuring Decentralized Integrity

    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. In this way, the network is reportedly more secure and reliable for businesses and developers who want to provide decentralized AI solutions. The implementation of PoAI will compile node judgments within Ionet, providing a transparent and immutable record of resource contributions.

    Strategic Partnerships and Expanding Horizons

    The introduction of PoAI follows that of Io.net’s recent strategic partnerships and developments. Binance revealed Ionet as its 55th Launchpool project a few months before this announcement, with the IO token now available for trading. 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. Central to Ionet’s ecosystem is the IO token, which allows users to access global computing resources within the Ionet network. 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.

    The introduction of the new consensus mechanism PoAI by Io.net and Flock.io marks a significant step in ensuring the reliability and efficiency of decentralized networks. Strategic partnerships and promising developments confirm Ionet's potential for the global application of AI technologies.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Speculation Grows Over Predictfun Airdrop Details

chest

Speculation continues regarding the unverified airdrop details for Predictfun, as no official confirmation has been provided.

user avatarZainab Kamara

Masters of Trivia Set to Launch Exciting Multiplayer Quiz Tournaments

chest

Masters of Trivia is preparing to introduce multiplayer quiz tournaments to enhance user engagement.

user avatarSon Min-ho

SWIFT's Integration of Blockchain-Based Ledger

chest

SWIFT plans to integrate a blockchain-based ledger into its payment infrastructure, marking a significant evolution in its role within the global financial system.

user avatarTando Nkube

SWIFT Shifts Focus to Real-Time Payment Infrastructure

chest

SWIFT is evolving its payment infrastructure to emphasize real-time ledgers and instant settlement, signaling a structural change in global payments.

user avatarAyman Ben Youssef

Bithumb and Upbit to Delist Groestlcoin on January 16

chest

Bithumb and Upbit will delist Groestlcoin (GRS) on January 16, 2025, due to insufficient response to an investment warning.

user avatarKofi Adjeman

Russian Official Declares Imminent Resolution of Ukraine War

chest

Russian Deputy Foreign Minister Sergei Ryabkov announces that a resolution to the Ukraine war is imminent, signaling a potential shift in global affairs.

user avatarNguyen Van Long

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.