Coinbase, the popular US crypto exchange, is adding support for a new AI-focused altcoin called io.net (IO) that runs on the Solana network.
IO: A Decentralized GPU Network
io.net is a decentralized physical infrastructure network (DePIN) that aims to use idle GPUs (graphics processing units) for machine learning (ML) and AI projects. Basically, they’re trying to create a network of powerful computers that can be used for complex AI tasks.
Why is this a big deal?
According to io.net, the demand for GPU computing power is skyrocketing, especially for AI model training and inferencing. They believe that by connecting millions of GPUs from data centers, miners, and other crypto projects, they can offer a more scalable and accessible alternative to traditional cloud computing.
Trading Begins Soon
Coinbase says that trading for IO will begin on October 9th, 2024, if there’s enough liquidity. The IO-USD trading pair will launch in phases, and support for IO may be restricted in some countries.
IO’s Current Performance
IO is currently trading for $1.77, down slightly in the last 24 hours. With a market cap of $168 million, it’s currently the 295th-largest crypto project.
Disclaimer: This information is for general knowledge and should not be considered investment advice. Always do your own research before investing in cryptocurrencies.
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