$IO IO Coin is a token associated with the io.net project, which offers a decentralized computing platform based on the use of underutilized graphics processing units (GPUs). The project aims to provide data processing and machine learning services at lower prices compared to traditional cloud services.
Project features:
1. Provide decentralized computing power: The platform combines GPU resources from independent data centers, unused mining farms, and regular users to provide a scalable infrastructure for machine learning projects.
2. Techniques used: It relies on a combination of Proof of History and Proof of Stake networks to secure the network.
3. Uses: The currency can be used to pay for computing costs, run nodes, and participate in governance through the DAO system.
4. Partnerships: The project has partnered with companies like Aethir and Hiveon to improve performance and scale.
Current status:
The circulating supply is around 125 million tokens out of a cap of 800 million tokens.
Market cap exceeds $450 million, with significant daily trading activity
Project challenges
The project faced significant financial hurdles due to high computing costs but was able to overcome them by developing a business model based on decentralized GPU resource pooling, making it attractive to startups and machine learning researchers.
If you are planning to invest, make sure to evaluate the project based on market needs and its future plan.
