IO.NET
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Information about IO.NET (IO)
io.net is a decentralized GPU network designed to provide computing for machine learning (ML). It leverages over one million GPUs assembled from independent data centers, cryptocurrency miners, and projects like Filecoin or Render to access computational power.
Its goal is to combine one million GPUs into the Decentralized Physical Infrastructure Network (DePIN), creating an enterprise-grade, decentralized distributed computing network. By aggregating global idle network computing resources (primarily GPUs at present), it aims to offer artificial intelligence engineers lower-cost, more accessible, and more flexible network computing resource services.
io.net has raised $40 million USD from two rounds of private sales, with a most recent $1 billion USD valuation. This represents 36.24% of the genesis token supply and 22.65% of the maximum token supply. The Series A round was led by Hack VC with participation from Multicoin Capital, 6th Man Ventures, M13, Delphi Digital, Solana Labs, Aptos Labs, Foresight, Amber, Longhash, SevenX, ArkStream, Animoca Brands, Continue Capital, MH Ventures, Sandbox.
IO is a native coin of the IO.NET ecosystem, operating on Solana according to SPL standard, and can be used to:
- Payment Currency: Payments & transactions fees within the io.net ecosystem, such as purchasing / supplying underutilized GPU computing power, deploying GPU clusters.
- Staking: Users can participate in network security & earn share of idle GPU rewards, by either:
- Governance: The IO token enables holders to participate in the governance of the IO Grants DAO by proposing, voting on, and implementing grant proposals that guide the allocation of funds and strategic direction of the Internet of GPUs Foundation.
Specifications
- Name: IO.NET
- Symbol: IO
- Platform: Solana
- Standard: SPL
- Type: Utility, Governance
- Smart Contract Address: BZLbGTNCSFfoth2GYDtwr7e4imWzpR5jqcUuGEwr646K
- Total Supply: 800,000,000 IO
News
2024 predictions are bullish: IO.NET (IO) is predicted to have a bullish trajectory in 2024, with price forecasts ranging from 3,668 USD to 6,381 USD and potentially hitting 10 USD. However, in a bearish market scenario, prices may fall to approximately 1,319 USD.
Current price performances: The current trading price of IO.NET (IO) is 3.14 USD, following a decline of 5.68% in the past 24 hours. The all-time HIGH was 6.45 USD, recorded on June 13, 2024, while the lowest was 1.32 USD on August 5, 2024.
Market and technical analysis: Technical analysis reveals IO.NET (IO) is in an ascending channel, suggesting a bullish trend with resistance at 3,668 USD. Support levels are expected at 2,147 USD. Future predictions forecast growth to 40 USD by 2030, dependent on market dynamics and investor sentiment.
Efficient AI model development: The use of io.net’s distributed GPU network helps OpenLedger accelerate the development of AI models. This allows developers to create smarter and more efficient AI applications. They can use data from OpenLedger to improve model quality.
Improving speed and scalability: The ability to infer and store AI models will be supported thanks to io.net’s infrastructure. This ensures speed and scalability, strengthening OpenLedger’s position in providing reliable AI data. Creativity at the intersection of blockchain and AI will be powerfully enhanced.
Supporting decentralized AI development: According to OpenLedger, this new collaboration unlocks the potential of high-quality data. Users can refine AI models more effectively. This aims toward a decentralized AI ecosystem, allowing more reliable model sharing and development.
Innovation without centralized cloud: The collaboration allows OpenLedger to overcome limits of centralized cloud providers. Thanks to io.net’s GPU infrastructure, OpenLedger expands services and develops AI with higher performance. The ability to create new use cases for AI is significantly enhanced.
IO trading volume is $ 161.12m. Market capitalization reaches $ 517.07m.
IO trading volume is $ 446.1m. Market capitalization reaches $ 471.61m.
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