io.net (IO): Revolutionizing AI/ML Applications With Decentralized GPU Power
Artificial intelligence (AI) and machine learning (ML) are two closely related technologies experiencing an unprecedented boom. The demand for AI and ML solutions is growing stronger, which also means that data and processing requirements to service AI/ML algorithms are also expanding. The performance and quality of these algorithms and models are highly dependent upon the data and processing capacity they can leverage.
At the same time, traditional computing solutions enabled by centralized providers like AWS might not be sufficient to meet the demands of the AI/ML sector. Being centralized, such providers have undue control over the processing capacity that AI/ML models need, and thus cannot scale quickly and cost-effectively when required.
io.net (IO) is a blockchain platform that addresses these challenges by serving as a vast and completely decentralized network of GPU processing power providers. AI/ML algorithms can utilize the io.net network to access the processing power accumulated by the network for model training and other purposes.
Key Takeaways:
io.net (IO) is a decentralized physical infrastructure network (DePIN) that acts as a marketplace for GPU processing capacity
One group of users on io.net contributes their machines' idle GPU capacity in exchange for crypto rewards, while another group sources this capacity for a variety of applications, primarily in the AI/ML domain
The platform's native crypto, IO, isn't yet available on the wider public market, but can be accessed on the Bybit Pre-Marketing platform
What Is io.net?
io.net (IO) is a decentralized computing network that sources GPU processing power from supplier nodes and makes it available for a variety of use cases, including AI/ML algorithm processing. The platform acts as a giant and completely decentralized marketplace in which suppliers can contribute their idle GPU processing capacity in exchange for crypto rewards. In turn, capacity consumers, including AI/ML model developers and users, can utilize this GPU capacity to power the functionality of their applications and algorithms. Operating as a typical decentralized physical infrastructure network (DePIN) platform, io.net brings together providers and consumers of computing capacity via blockchain.
The project aims to attract GPU processing capacity from at least 1 million institutional and individual suppliers. io.net targets large suppliers of GPU processing, such as data centers, crypto miners and other entities with significant hardware capacity. Its vision is to provide a more cost-effective, flexible, scalable and privacy-focused alternative to traditional centralized providers of computing capacity, such as Amazon, Google and Microsoft.
io.net's decentralized network of GPUs provides a highly flexible environment for processing power consumers to customize their requirements. These consumers, including decentralized apps (DApps) utilizing AI/ML algorithms, can set up clusters to access any number of GPUs they require. Access to such capacity is based on a highly flexible per-use basis. The costs of accessing GPU power are also much lower than those of traditional centralized providers.
How Does io.net Work?
io.net is a multi-layer platform (with seven layers) designed to ensure smooth operations and secure sharing of GPU processing power. The topmost layer is the user interface, where GPU consumers and providers (called Workers in the platform's terminology) have dedicated areas to connect to the system and manage their activities and consumed services. This layer also includes the project's website.
Right below the user interface, there's the security level, comprising two key components β the network-wide firewall and the user authentication and logging service. The third level, API, provides public and private APIs that can be used to source data for analytics, monitoring, reporting and more.
The next three layers β backend, database and message broker β are designed to support backend operations, data storage and frequently accessed data retrieval, and GPU processing task management (respectively). Finally, the lowest level β infrastructure β is the foundational backbone of the platform, and hosts the net GPU capacity using hardware from the project's verified partners.
In order to encourage the growth of the platform, io.net runs an extensive, multi-season loyalty program called Ignition Rewards. These rewards primarily target Worker nodes, i.e., suppliers of GPU processing capacity, and to a lesser extent, other community participants.
The first season of Ignition Rewards concluded on Apr 25, 2024 and included rewards for Workers and content contributors to the project's social media pages (primarily Discord). The second season is ongoing and will run until the end of May 2024. In this current season, io.net is providing rewards for Workers according to their GPU capacity contribution.
io.net Key Products
IO Cloud
IO Cloud allows platform users to easily set up clusters β globally distributed networks of nodes providing GPU power β via the cloud environment. Users can then access and manage the processing capacity provided by the network. Depending upon the required processing capacity and nature of the particular application, users can create three different cluster types: Ray, Mega-Ray and Kubernetes.
IO Worker
IO Worker nodes are network users who provide their machines' GPU processing capacity in a decentralized manner in exchange for crypto rewards. Anyone can apply to join the io.net platform as a Worker node, as long as their machines meet the minimum requirements. For instance, you currently need a machine with at least 12 GB of RAM, 256 GB of SSD disk and (naturally) a sufficiently powerful GPU card. For Windows-based systems, NVIDIA GeForce RTXβ’ 30xx and above would suffice.
IOG
IOG, which stands for the Internet of GPUs, is a system designed to provide backend customizations to the underlying io.net network. Thanks to IOG, certain platform functionalities and features are simplified or enhanced. These include features such as confidential computing, zero-knowledge (ZK) jobs, distribution and scaling of AI/ML applications, multi-cluster management and AI/ML algorithm training.
IO Explorer
IO Explorer is a network explorer app that provides a detailed view of all on-platform activities. You can access real-time statistics on GPUs available on the network, regional distribution of processing capacity, clusters, Worker nodes and more. For many key statistics (e.g., Worker nodes), you can drill down to the level of each individual machine to review information, such as processing capacity and history.
IO ID
IO ID is a centralized control panel for users to track their finances. From the IO ID interface, users can also view their account balances, rewards earned as a Worker, and expenditure on sourcing GPU capacity from the network. IO ID also lets users top up their account balances using both crypto and fiat currency.
What Is io.net Crypto Token (IO)?
IO is the native cryptocurrency of the io.net platform. Its main functions include:
Payment of rewards to Worker nodes for providing GPU capacity to the network. GPU power suppliers earn rewards in two ways: hourly-based Availability Rewards, paid for making hardware available on the network, and Hire Fees, paid when a service consumer hires the Worker's GPU for their processing needs.
Payment for access to GPU services sourced from the platform. Users have the option to pay in USDC or IO tokens. While USDC payments incur a 2% fee, IO payments are commission-free.
Staking. Any user can earn rewards in IO tokens by staking their crypto on a supplier node on the network, helping to secure the network and earning hourly rewards.
The IO token is based on the Solana (SOL) blockchain and has yet to be publicly released. However, it's available on Bybit's Pre-Market Trading platform, as detailed in the next section. IO is deflationary, with a maximum and total supply of 800 million, and is equipped with a programmatic burn mechanism whereby the revenue generated is used to buy and burn IO according to its price.
Where to Buy the io.net Crypto Token (IO)
The IO token is already available on the Bybit Pre-Market Trading platform ahead of its wider public release. Bybit Pre-Marketing is an over-the-counter (OTC) trading platform that lets you access promising early-stage tokens before their public launch.
Closing Thoughts
As AI and ML applications are increasingly being used for various purposes in the business world, the demand for processing capacity β especially capacity provided by GPU devices β will only increase. Many industry observers agree that the main limitation of AI/ML model training and applications is the ability to process the data on which these models are based effectively. Now, io.net is shaping up as one of the platforms that are going to benefit from this increased demand. As long as AI/ML model training requires significant processing power, io.net's business concept is poised to remain viable and relevant.
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