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

Io.net and Flock.io Announce PoAI – A First-of-Its-Kind Consensus Mechanism

user avatar

by Giorgi Kostiuk

a year ago

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


    4. Leading decentralized physical infrastructure network Io.net has announced a partnership with AI training platform Flock.io. The result of this collaboration is the introduction of a new consensus mechanism called "Proof of AI" (PoAI), which aims to enhance the integrity of decentralized networks, particularly in the 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," 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."

    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. As a result, 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. A few months ago, Binance revealed Ionet as its 55th Launchpool project, 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.

    Io.net continues to expand its capabilities in the field of decentralized AI solutions. Central to Ionet’s ecosystem is the IO token, which allows users to access global computing resources and play a crucial role in governance. With ongoing technological improvements and strategic partnerships, Ionet strengthens its market position.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

KuCoin Pay Expands Real-World Crypto Spending Through DoggyCards Deal

chest

KuCoin has partnered with DoggyCards to enable users to purchase gift cards from over 300 global brands using cryptocurrency.

user avatarElias Mukuru

Massive Crypto Scam in India Shakes Investor Confidence

chest

A significant crypto scam in Punjab and Himachal Pradesh has defrauded investors of nearly 2,300 crore, prompting a crackdown by the Enforcement Directorate.

user avatarKenji Takahashi

Bitcoin Price Drops Below $88,000, Analysts Suggest Potential Opportunities

chest

Bitcoin's price fell below $88,000, indicating a challenging period for investors, while analysts highlight potential buying opportunities based on NVT data.

user avatarDiego Alvarez

Bitcoin Struggles Below Key Resistance Level

chest

Bitcoin's price continues to decline as it fails to break the 95K resistance level, indicating a loss of bullish momentum.

user avatarRajesh Kumar

On-Chain Signals Indicate Potential Panic Selling

chest

On-Chain signals indicate potential panic selling in the Bitcoin market as the Adjusted SOPR approaches a critical threshold.

user avatarMaria Fernandez

IPO Genie Sponsors Misfits Boxing Event and Announces VIP Giveaway Winners

chest

IPO Genie is sponsoring the Misfits Boxing event in Dubai and has announced winners of a VIP giveaway for an exclusive experience.

user avatarGustavo Mendoza

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.