• 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

Market Sentiment Improves Amid Economic Uncertainty

chest

Recent remarks by former US President Donald Trump at the World Economic Forum in Davos have contributed to improved market sentiment, particularly following his clarification that the United States does not intend to pursue military action regarding Greenland.

user avatarDiego Alvarez

G4 Token Set to Enhance Digital Economic Ecosystem

chest

The G4 Token will serve as a core component of a digital economic ecosystem with various utilities for holders.

user avatarKenji Takahashi

Global SKC Capital Announces IEO for G4 Token

chest

Global SKC Capital announces the IEO for the G4 Token amid rising market interest and economic uncertainty.

user avatarGustavo Mendoza

SKC Capital Projects Growth for G4 Token Post-IEO

chest

SKC Capital projects continued growth for the G4 Token following the completion of the IEO, anticipating significant price appreciation over the next 12 months.

user avatarMaria Fernandez

Wells Fargo and Bank of America Expect No Rate Cuts

chest

Wells Fargo and Bank of America analysts predict that the Federal Reserve will not implement rate cuts in the near future, citing strong economic indicators.

user avatarMiguel Rodriguez

Vincent Van Code Highlights XRP Burn Dynamics

chest

Vincent Van Code presents a simulation showing that XRP burn rates could significantly exceed current projections as network adoption increases.

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.