- The Mining Device For Everyone
- Private Cloud Services With N3 Edge V1
- Tokenized Rewards for AI Training with N3 Edge V1
San Francisco, California, September 6th, 2024. The N3 Edge V1 mining device from Network3 has successfully begun mining its initial batches of IoTeX tokens and Network3’s mining machine credit, N3E.
The Mining Device For Everyone
N3 Edge V1 sold out its first batch of 3,000 devices within seconds after its launch on August 20 at 10 am PST. The pre-sale event took place following a $5.5 million funding round in July 2024. N3 Edge V1 is a privacy and performance-focused dual mining machine, offering users better control and monetization opportunities over their digital resources. The device can mine IoTeX and Network3’s native tokens, enabling users to boost their N3E credit points and earn other rewards. These dual mining devices integrate IoTeX's infrastructure like the decentralized W3bstream and ioID to provide individual device identity with DePIN verification.
Private Cloud Services With N3 Edge V1
The physical mining device functions as a personalized cloud service in a more private, decentralized, and profitable manner. Unlike traditional cloud services, N3 Edge V1 enables users to host and manage their clouds at home. Network3 challenges centralized data processing by leveraging devices at the network’s edge to reduce latency and provide more control over users’ digital data footprint. In Edge V1, DePIN and Edge AI work together to make local data available for processing on edge devices or IoT products. Thus, users can integrate Edge V1 into their existing network setup in a user-friendly manner and compete with Tier 1 systems. The device provides an innovative and lucrative mechanism for training AI/ML models while improving data accuracy and speed with real-time user-generated data.
Tokenized Rewards for AI Training with N3 Edge V1
Network3 users can earn rewards by sharing their computational power, data, and network bandwidth from IoT devices. The physical mining devices measure user resources and convert them to tokens, providing real-world utility and value for their contributions. N3 Edge V1 marks a paradigmatic shift from traditional mining's energy-intensive and specialized hardware toward incentivizing participation in mining from general users. Network3 intends to democratize the crypto-mining landscape by providing users with the tools to mine tokens through simple devices. Common people can now use their smartphone or computer for mining and receive financial rewards in return. The mining process involves three types of actions from users: sharing internet bandwidth, providing a device’s computational power, and contributing data from their devices. These actions help to execute network activities, support operations, and bolster data privacy and security while training AI models. Network3 aims to create a fair and competitive AI industry through decentralized model training and data processing in exchange for tokenized rewards.
The successful launch of Network3’s dual mining machine, N3 Edge, is a step forward towards creating an equitable digital economy and decentralized future.
