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Ionet and Flock.io Implement Proof of AI Consensus Mechanism

by Giorgi Kostiuk

a year ago

A Consensus Mechanism
Ensuring Decentralized Integrity
Strategic Partnerships and Expanding Horizons

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.

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