Everyone continues to be captivated by the launch of Open AI ChatGPT in November 2022. Since the launch of ChatGPT, its power, potential, and use cases have benefited many individuals and industries.

This has brought about an increased focus on machine learning and AI development, which leads to demand for computing capacity, which has resulted in a shortage of graphics processing unit (GPU) capacity.

To address the demand and shortage of GPU capacity, IO.NET, a decentralized computing network company that enables machine learning engineers to access scalable distributed clusters for a fraction of the cost of equivalent centralized services, was founded.

What is an IO token

IO token is the token of IO.NET, the world’s largest decentralized computing network. IO.NET helps with the development, execution, and scaling of machine learning (ML) applications on the Solana blockchain. It uses the world’s largest GPU cluster to provide machine learning engineers with distributed cloud computing capability at a fraction of the cost of centralized offerings.

Since November 2023, the network has amassed about 19,000 GPUs and slightly more than 6,000 CPUs that have completed Proof of Compute and are ready for deployment. IO.NET has also collaborated with other decentralized computing networks, such as Solana, Render Network, and Filecoin, to integrate 2,000 of their GPUs into its network.

IO.NET provides up to 90% cost reductions over standard cloud providers such as AWS, making it a more attractive option for startups and companies with large computing requirements. It is also available in more than 138 countries, enabling a vast and diverse network of computational resources. IO.NET also provides sustainable GPU choices, which promote environmental sustainability while providing strong computing resources.

On June 6th, Binance announced that IO.NET (IO) would be the latest and 55th project to launch on Binance Launchpool, which is essentially a liquidity farming service by the largest crypto exchange.

Brief history of IO.NET

Before June 2022, IO.NET was solely dedicated to creating institutional-grade quantitative trading algorithms for the US stock market and the cryptocurrency industry. Since they started providing support for computing providers, they have faced some challenges, including the limitation of traditional computing providers, which led them to Distributed Computing and the decentralized clusters in a DePIN (Decentralized Physical Infrastructure Network).

All of this infrastructure requires the DevOps and MLOps teams, and they handled it successfully with a discovery called Ray.io that accelerated their backend development from over six months to 60 days.

Another challenge they encounter is the cost of high GPUs from on-demand cloud providers; for example, the extraordinary cost of a NVIDIA A100 card at over $80 per day per card was a major obstacle, and they required 50+ cards monthly, bringing about an expense of over $100K.

All of these challenges and obstacles could have hindered the project, but IO.NET successfully dealt with them, and they are currently the world’s largest decentralized AI computing and cloud network.

The price of IO

Since its launch on CoinEx on June 5th, the token has risen almost 43% in the last seven days. As of this writing, the IO token ranks #122 in market popularity, with a total market capitalization of $2.74 billion and a daily trading volume of over $620k.

How to buy IO token

To purchase this token, log in or register on CoinEx; go to the IO trading page to get started.

Overview

Name: IO

Official link: https://io.net/

White paper link: https://docs.io.net/

Explorer: https://solana.fm/address/BZLbGTNCSFfoth2GYDtwr7e4imWzpR5jqcUuGEwr646K

Total supply: 800 million

Contract address: BZLbGTNCSFfoth2GYDtwr7e4imWzpR5jqcUuGEwr646K

Twitter: https://x.com/ionet

Telegram: https://t.me/+vr2_-Vr9YOZhNDNh

Supported CEX: CoinEx, Binance, Bybit, LBank, BloFin

Supported DEX: Bitget

Convenient for users to know in time: https://www.coinex.com/en/info/IO

*This article is for informational purposes only and does not constitute investment advice.

How IO.NET Is Revolutionizing AI with Decentralized Computing Power and Cutting Costs by 90%