What is IO.NET? A Prominent DePIN Project on Solana

1. What is IO.NET?

IO.NET is a distinctive project operating within the DePIN framework, developed on the Solana blockchain architecture. Its primary focus lies in supplying GPU computational capabilities to artificial intelligence (AI) and machine learning (ML) firms. With an emphasis on cost efficiency and streamlined execution timelines, IO.NET has garnered significant attention from prominent AI startups.

The project's overarching objective revolves around establishing what is termed as the "Internet of GPU," aiming to address the prevailing scarcity of GPU computing resources amidst the flourishing AI landscape.

By leveraging the Solana blockchain, IO.NET ensures transparency in computational transactions, facilitating the seamless display of tasks and transactions between service providers and consumers on the blockchain ledger. The IO token serves as the cornerstone for consistent transactional operations, incentivizing network participants including providers, customers, and users.

Experiencing rapid expansion within a short timeframe, IO.NET has established a robust network comprising over 25,000 nodes and has contributed over 47,000 computing hours to its clientele. Furthermore, the network has disbursed over $300,000 in payments to network providers, underscoring its prowess in delivering customer success and fostering trust within its ecosystem.

2. IO.NET products

Following the launch of ChatGPT by OpenAI, Shadid, the CEO of the IO.NET project, recognized its potential to serve AI/ML companies. These companies often require significant computational power with minimal delay. Consequently, IO.NET emerged as one of the successful projects in the Solana Hackathon held in April 2023 and officially debuted its network in November of the same year.

IO.NET provides several core products:

IO Cloud: This service functions as a cloud-based platform that allows users to deploy and manage GPU clusters. Users have the flexibility to choose the type of cluster, its intended purpose, deployment location, and integration with popular Machine Learning (ML) frameworks like Tensorflow or PyTorch.
IO Worker: This product enables users to lease out their GPU resources through the IO.NET platform, thereby earning income from renting out their computing power.
IO Explorer: Serving as a comprehensive network exploration tool, IO Explorer offers real-time insights into cluster deployments, computational tasks, network performance, and pricing information.
IO Coin: As the native token of the project, IO Coin's details are currently limited, with further information yet to be disclosed.

3. Team

The development team of IO.NET consists of 29 members, with Ahmad Shadid serving as the Founder and CEO of the project.

4. Partners and investors

The project secured a $30 million Series A funding round, with Hack VC leading the investment and multiple venture capital firms participating, including Multicoin Capital, 6th Man Ventures, M13, Delphi Digital, Solana Labs, Aptos Labs, Foresight, Amber, Longhash, SevenX, ArkStream, Animoca Brands, Continue Capital, MH Ventures, and Sandbox Games.

*IO.NET announced raising $30 million in Series A round*

5. Tokenomics

Updating

6. Roadmap

The development process of IO.NET consists of six significant stages:

RC1 - Road to Ray:

Initial testing phase focusing on essential functionalities to demonstrate concepts to a wider technical audience.
Core enhancements include setting up and deploying clusters, managing tasks, and viewing job performance.
Providers can set up worker machines and connect them to the portal.

RC2 - Road to BreakPoint:

Enhancements to the portal for clients and providers, introducing payment options via Solana, and implementing the Explorer concept for ecosystem monitoring.

RC3 - Sunny Road Recap:

Serious showcasing of the first two versions to the public, with feedback used to improve overall functionalities.
Specific support for various tasks, mining machine specification improvements, and portal updates.

RC4 - Alphas Only:

Direct feedback from partners and limited community access to address initial customer feedback and enhance ecosystem stability.
Expansion of mining machine configurations, Explorer functionalities, and testing load balancing.

RC5 - Beta Rolling Stone:

Continuous user invitation to fine-tune platform mechanisms, address bugs, and provide a balanced market experience.
Introduction and optimization of more supported computing types and advisory tools within the application.

V1.0 - Full Release: The final version with comprehensive features and stability, marking the official launch of IO.NET.

7. Project infomation

Website: https://io.net/
Twitter: https://twitter.com/ionet_official/
Discord: https://discord.gg/X8wgHmURKK

8. Conclusion

IO.NET is an emerging project with the aim of providing worldwide access to GPU resources for the advancement of artificial intelligence (AI). Through the innovative Internet of GPUs model, IO.NET seeks to address the pressing computational challenges faced by the AI industry. Its suite of products, comprising IO Cloud, IO Worker, and IO Explorer, offers dependable and flexible solutions to users. By enabling cost savings of up to 90% compared to other major public cloud platforms, IO.NET holds the promise of delivering significant economic benefits and enhanced performance for AI startups.

Although the project has not yet introduced its token, it recently launched a point system. It is highly likely that the project will distribute airdrops to users through these points.

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