A project that started out as an institutional-grade quantitative trading system for cryptocurrencies and stocks has transitioned to become a decentralized network sourcing GPU computing power to serve increasing demand for AI and machine learning services.
The io.net platform will allow GPU computing providers to provide resource to clusters for AI and machine learning needs. Source: io.net, with the price of renting a single NVIDIA A100 averaging around $80 per day per card. Needing more than 50 of these cards to operate 25 days a month would cost more than $100,000.
The decentralized network is set to leverage Solana’s blockchain to deliver SOL and USD Coin payments to machine learning engineers and miners that are renting or providing computing power. “The IO coin will be freely traded in the crypto market and is the gate to access the compute power, while the IOSD token will serve as a stable credit token algorithmically pegged to 1 USD.”
The founder adds that any businesses that require AI computation typically use third-party providers, since they lack the GPUs to handle it all in-house. With demand for GPU’s estimated to increase by ten times every 18 months, Hadid says that these is often insufficient capacity to meet demand, leading to long wait times and high prices.
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