• 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

Levi Rietveld Highlights Energy Efficiency in Digital Assets

chest

Crypto expert Levi Rietveld emphasizes the importance of energy efficiency in digital asset ecosystems, featuring insights from Ripple CEO Brad Garlinghouse on the environmental impact of proof-of-work mechanisms.

user avatarRajesh Kumar

Garlinghouse Discusses Bitcoin's Energy Consumption

chest

Ripple CEO Brad Garlinghouse discusses Bitcoin's energy consumption, highlighting its impact on global energy usage and promoting the efficient design of the XRP Ledger.

user avatarJesper Sørensen

Crypto Usage Expands Beyond Traditional Traders

chest

Crypto is increasingly being adopted by freelancers, remote workers, online sellers, and Web3 professionals for various financial transactions.

user avatarFilippo Romano

Binance Academy Improves Educational Resources.

chest

Binance Academy, the official educational platform of Binance, has significantly expanded its offerings since its launch in 2018, now including over 1,000 articles and glossary entries on blockchain technology and cryptocurrencies.

user avatarLucas Weissmann

Wirex Business Introduces New Stablecoin Yield Feature

chest

Wirex Business has launched a new feature that allows customers to earn yield on their stablecoin deposits with just one click.

user avatarEmily Carter

Bitwise Launches BITW, a Rules-Based Multicrypto ETF

chest

Bitwise has launched BITW, a rules-based multicrypto ETF that offers diversified exposure and regulated access to cryptocurrencies, responding to the increasing demand from institutional investors.

user avatarTomas Novak

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.