• 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

Canva Gains Ground With Key User Groups

chest

A central concern highlighted in the report was market share erosion, particularly among younger and independent users. Survey data cited by BMO showed that more than 50% of students and nearly half of freelancers now primarily use Canva instead of Adobe's Creative Cloud products.

user avatarDiego Alvarez

Adobe Stock Slides After Analyst Downgrade Flags Competitive Pressure

chest

Adobe's shares fell after a downgrade by BMO Capital Markets, highlighting rising competition and lack of near-term catalysts.

user avatarKenji Takahashi

BMO Cuts Rating and Price Target for Adobe

chest

BMO analyst Keith Bachman downgraded Adobe from Outperform to Market Perform and lowered the price target from 400 to 375 due to intensifying competitive dynamics.

user avatarMaria Fernandez

Scalability and Risk Management through Liquidity Providers

chest

Liquidity providers enable exchanges to scale operations and manage risks effectively.

user avatarRajesh Kumar

Benefits of High Liquidity for Trade Execution

chest

High liquidity leads to better trade execution and tighter spreads, enhancing user satisfaction.

user avatarMiguel Rodriguez

ChangeNOW Enhances Market Access for New Exchanges

chest

ChangeNOW enhances market access for new exchanges by providing liquidity aggregation services, allowing them to quickly access deep order books and reduce operational costs.

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.