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

Ionet and Flock.io Implement Proof of AI 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. Ionet, a leading decentralized physical infrastructure network (DePIN), partnered with Flock.io, a decentralized AI training platform, to introduce a new consensus mechanism called Proof of AI (PoAI), according to an Aug. 29 CoinTelegraph report.

    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. 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 has been dubbed the "currency of computing power." 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 IO token also plays a crucial role in governance, empowering token-holders to make decisions that will benefit the protocol and its key stakeholders.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Conducting Effective Market Sentiment Analysis in Crypto

chest

Conducting effective market sentiment analysis involves gathering insights from various market participants, observing social media discussions, and using sentiment tracking tools to enhance trading decisions.

user avatarDiego Alvarez

Growing Accumulation and Derivative Confidence Support SOL Recovery

chest

Smart money and ETFs show growing accumulation, while derivative longs dominate, supporting SOL's potential recovery.

user avatarElias Mukuru

Brett Aligns with Broader Meme Ecosystems

chest

Brett positions itself within meme ecosystems, ensuring cultural relevance.

user avatarGustavo Mendoza

Official Trump Engages Communities Through Cultural Influence

chest

Official Trump leverages political and pop culture to maintain community engagement.

user avatarMaria Fernandez

Baby Doge Coin Focuses on Charitable Engagement

chest

Baby Doge Coin emphasizes community loyalty and charitable initiatives.

user avatarMaria Gutierrez

Pudgy Penguins Evolve into Cultural Assets

chest

Pudgy Penguins have transformed from NFTs into cultural assets, expanding their reach beyond crypto enthusiasts.

user avatarRajesh Kumar

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.