The AI gold rush is in full swing as 65% of organizations now report regularly using generative AI in some capacity.
Small problem, no matter how much some want AI to be everywhere or even become your clone, there’s a critical shortage of the very thing needed to keep this AI revolution going: raw computing power. As tech giants hoard GPUs like greedy dragons guarding treasure, countless AI projects are left out in the cold.
IO.net aims to fix this shortfall by offering a decentralized physical infrastructure network (DePIN) which aggregates GPUs from underutilized sources.
By tapping into independent data centers, repurposed crypto mining equipment, and other hardware networks, IO.net is looking to unlock an estimated 200 exaFLOPS of additional GPU capacity, the equivalent of 13 times what’s currently available from major cloud providers. Let’s take a look at what an “Internet of GPUs” looks like.
The current GPU shortage is more severe than most people, both experts and everyday users, realize. Major cloud providers only have about 10-15 exaFLOPS of GPU compute capacity to offer, while potential demand could be as high as 20-25 exaFLOPS.
The need for processing power will only increase over the years, given the increasing popularity of AI, gaming, and other GPU-intensive technologies. This 5-10 exaFLOPS shortfall creates significant challenges for AI and ML projects worldwide, such as long wait times to acquire hardware, lack of choice, and high costs.
The industry’s answer to this problem has been pretty basic so far: Just build more chips!
However, what if the solution isn’t creating more chips, but using the ones we already have more smartly? That’s what blockchain project IO.net is trying to accomplish, implementing an audacious plan that might just save the AI revolution by turning the world’s idle GPUs into the backbone of AI’s future.
What is IO.net
At its core, IO.net is a decentralized network that connects idle GPUs worldwide, creating a massive, distributed supercomputer accessible to machine learning engineers or anyone who requires more GPU capacity. This means instant access to high-powered computing power, not only at a fraction of what big cloud providers charge but also more easily and faster than with traditional providers.
More than a service, however, IO.net is building an ecosystem with computer power at its heart. Their goal? To make advanced AI development possible for anyone, not just tech giants with deep pockets. By tapping into underused resources, IO.net aims to solve the GPU shortage and democratize the future of artificial intelligence in a more sustainable, accessible, and efficient way.
As a result, users also get to enjoy increased control and flexibility over the different resources and features of the network thanks to its modularity and use of decentralized infrastructure. This greatly differentiates IO.net from traditional providers like Amazon Web Services (AWS), Google Cloud, and other alternative cloud computing platforms.
IO.net Products
The IO.net ecosystem is composed of various products and features designed to provide a comprehensive experience without sacrificing flexibility. These features also interact with the IO coin ($IO), creating a self-sustainable and trustless ecosystem that doesn’t require middlemen and operates more efficiently.
IO Cloud
IO Cloud is the platform’s flagship offering, allowing users to deploy and manage on-demand decentralized GPU clusters such as Ray, Mega-Ray, and Kubernetes. Some of its key features include seamless integration with IO SDK for distributed computing, native support for the RAY distributed computing frameworks, global distribution of GPU resources functioning like a CDN for ML serving and inference, and future access to the IO Models Store.
IO Worker
IO Worker is a web application that enables individuals and businesses operating as suppliers to rent out their computing power. It offers them the opportunity for higher earnings compared to traditional cloud services, real-time performance monitoring, secure resource sharing, and global accessibility. In exchange, users of IO Worker are rewarded based on their block rewards, jobs processed, active time, blocks earned, and much more.
IO Explorer
Similar to other blockchain explorers, IO Explorer provides transparency into the network’s operations. This is achieved by offering comprehensive statistics on network activity and real-time metrics on cluster bookings, deployments, and network devices. Some of the information available to users includes total GPUs/CPUs, verified GPUs/CPUs, cluster-ready GPUs/CPUs, supply insights, Geo Distribution, activity trends, etc.
IO ID
IO ID serves as the central hub for tracking earnings and expenses within the network, facilitating easy withdrawal of funds in cryptocurrency. This control panel allows users to interact with all the different IO.net elements, personalize their experience, connect their Solana/Aptos wallet, delete their account, and perform any other changes to their account.
IO Coin ($IO)
IO Coin is the native cryptocurrency of the IOG Network. $IO plays a crucial role in facilitating economic incentives within the ecosystem, balancing the needs of GPU renters/owners, and providing network security through staking mechanisms. Every transaction taking place in the IO ecosystem makes use of the IO token, independently of the currency users are interacting with fiat, USDC, or any other token in the front end.
IO Coin’s tokenomics were developed around having a fixed maximum supply of 800 million coins, hourly rewards to suppliers and their stakers, and the use of an $IO burning mechanism. 500 million of these $IO were distributed when the project launched while the remaining 300 million will be emitted and paid to suppliers as rewards every hour.
Recent Developments
IO.net has recently undergone significant leadership changes to drive its next phase of growth. Tory Green, formerly the COO, has stepped into the role of CEO with an ambitious vision for expansion. This transition marks a pivotal moment as IO.net aims to solidify its position and change the game in the world of cloud computing.
The company has launched a highly anticipated staking program, building on the success of its Ignition Reward Program. This new initiative allows participants to stake their devices in the IO Network, turning their computing power into a source of income. The strong community engagement is evident as over $1 million was staked shortly after the program’s launch.
IO.net has also formed strategic partnerships to enhance its offerings. A notable collaboration is with FLock.io to introduce Proof-of-AI (PoAI), an innovative consensus mechanism designed to ensure integrity and scalability in decentralized AI networks. This mechanism aims to verify genuine contribution of computing resources, deterring simulated participation and ensuring fair compensation for honest contributors.
The project’s potential has not gone unnoticed by investors so far. IO Research, the parent company behind io.net, recently raised $30 million in a Series A funding round. This significant investment was backed by web3 powerhouses like Hack VC, Solana Labs, and OKX, ensuring the future plans of the project can be implemented.
Conclusion
IO.net is a bold step forward in the world of decentralized GPU computing for AI and machine learning applications, offering a real alternative in a seemingly saturated market.
By addressing the critical issues of availability, choice, and cost that plague traditional cloud providers, IO.net could soon become a key player in the development and growth of the AI ecosystem.
The platform’s innovative approach to aggregating underutilized GPU resources, combined with its robust feature set and thoughtful tokenomic model, offers a compelling solution to the current GPU shortage.
As AI and ML continue to drive technological advancement across industries, the demand for accessible, scalable, and cost-effective computing power will only grow.
