• 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

Bitcoin Faces Quantum Computing Threat

chest

Experts warn that Bitcoin's reliance on elliptic curve cryptography makes it vulnerable to advancements in quantum computing, potentially risking 67 million BTC by 2033.

user avatarLeo van der Veen

Trump Media Executes Massive Bitcoin Transfer

chest

A cryptocurrency wallet linked to Trump Media executed a massive transfer of 2,000 Bitcoin worth approximately $174 million to an unknown destination, raising questions about its purpose.

user avatarLi Weicheng

QuarkChain Investigates Disk IO Costs to Improve Blockchain Scalability

chest

QuarkChain's research focuses on understanding disk IO costs for KV lookups to enhance blockchain scalability.

user avatarAisha Farooq

Details of the NFT Fraud Scheme Revealed

chest

The NFT fraud scheme orchestrated by a South Korean cryptocurrency CEO deceived around 30 investors out of over 3 billion won (about 22 million USD) through false promises and celebrity endorsements.

user avatarTenzin Dorje

Regulatory Response to Cryptocurrency Misconduct Intensifies

chest

The sentencing of the South Korean cryptocurrency CEO marks a significant moment in the country's approach to NFT fraud and financial crimes in the digital asset space.

user avatarBayarjavkhlan Ganbaatar

South Korean Crypto CEO Sentenced to Seven Years for NFT Fraud

chest

A South Korean cryptocurrency CEO has been sentenced to seven years in prison for orchestrating a massive NFT fraud scheme that deceived investors out of approximately 22 million USD.

user avatarMohamed Farouk

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.