Similar to other compute-focused Decentralized Physical Infrastructure Network (DePIN) projects, io.net aggregates underutilized GPU and CPU power for use-cases in areas such as AI.
In this article, we will briefly cover io.net project fundamentals, and what they have achieved in terms of artificial intelligence (AI) and machine learning (ML) in the past year.
Growing Network
By aggregating over 5,000 GPUs/CPUs, io.net has built a decentralized AI compute network, offering scalable, budget-friendly solutions to AI/ML developers at less than 90% the cost of centralized providers like AWS.
Token Generation Event
Io.net had its $IO Token Generation Event (TGE) in 2024 on Solana.
At the time, 500 million tokens were minted and ~95 million were put into circulation. The remaining 300 million tokens will be emitted over time as rewards to GPU suppliers and IO stakers.
In 2024, the project secured $30 million in Series A funding from investors including Hack VC, Solana Labs, and OKX Ventures.
The $IO token trades on centralized exchanges like Binance, as well as Solana-based decentralized exchanges like Raydium and Orca.
Technical Advancements
The io.net team has been innovating in multiple areas over the past year:
The introduction of mesh networking has reduced latency by 47%, improving real-time processing capabilities for distributed AI workloads.
New algorithms optimize GPU resource distribution based on workload requirements increasing efficiency by 38%.
Improved end-to-end encryption and multi-layer authentication systems now protect data transfers.
Revenue Numbers
The Io.net network has also been generating revenue over the past year.
According to July numbers from House of Chimera:
- $42,500 in earnings per day
- More than $69,000 earned in a single day
- Over $16 million in total has been paid out to the network
Until next time...
Considering its growing node count, technical advancements, and consistent revenue numbers, io.net may be a DePIN project worth keeping an eye on as we transition into a new, crypto-powered economy.
If you learned something new from this article, be sure to check out my other posts on crypto and finance here on the Hive blockchain. You can also follow me on InLeo for more frequent updates.