# CRYPTO 101

$IO: Renting GPUs & Earning Rewards

io.net $IO

KEYTAKEAWAYS

  • io.net provides low-cost GPU access for AI and ML, significantly cutting costs for startups and researchers.
  • With over 63,000 GPU providers, io.net democratizes computational power at a fraction of traditional cloud costs.
  • Built on Solana, io.net integrates with Render and Filecoin, offering high performance and low transaction fees.

CONTENT

io.net, a DePIN project on Solana, offers scalable, cost-effective GPU power for AI and ML applications, reducing costs and increasing accessibility with $IO token.

 

 

 

WHAT IS IO.NET (IO)?

 

io.net is a DePIN (Decentralized Physical Infrastructure Network) project built on Solana, aiming to provide computational power at lower costs and faster processing times. DePIN leverages blockchain technology and is managed by a DAO, addressing issues like attack risks, information fragmentation, and high access costs associated with centralized physical infrastructure networks.

 

io.net is designed as a next-generation cloud system, integrating unused GPUs from independent data centers, cryptocurrency miners, and other hardware networks (such as Render) to offer computational power for AI and machine learning (ML) companies. This allows AI engineers to train and run models on the cloud at a lower cost. Additionally, compared to services from centralized companies like Google, AWS, or Azure, io.net supports AI engineers in developing decentralized models more easily and cost-effectively.

 

  • What is $IO ?

 

$IO is the native token of io.net and has three main functions:

 

  1. Payment currency: $IO is used for payments and transaction fees within the IO.NET ecosystem, such as purchasing or providing underutilized GPU computational power and deploying GPU clusters.

 

  1. Staking: Users can participate in network security and earn rewards for idle GPUs by either staking $IO tokens to their chosen nodes or staking more $IO tokens to run their own nodes.

 

  1. Governance: $IO tokens enable holders to participate in the governance of the IO Grants DAO by proposing, voting on, and implementing funding proposals. These proposals guide the allocation of resources and strategic direction of the GPU Network Foundation.

 

 

$IO, as the native cryptocurrency of the $IO network, aims to simplify economic exchanges within its ecosystem. This includes GPU renters (who use the tokens to deploy GPU clusters or for cloud gaming), GPU owners (who provide computational power), and the community of $IO holders.

 

Nodes must stake a certain amount of $IO to offer idle GPU computational power and earn $IO rewards.

 

>>> More to read : What is RNDR & Render Network?


IO.NET APPROACH TO THE COMPUTATIONAL POWER RENTAL MARKET

 

In recent years, the demand for computational chips has surged significantly due to AI development, with the computational power requirements of AI applications doubling every three months and nearly tenfold every 18 months. The supply chain and production capacity, still recovering from the pandemic, have led to a global scramble for GPUs. Public cloud services often secure more GPUs first, making it challenging for smaller enterprises and research units to obtain computational resources, facing issues such as:

 

1. Limited Access: When using cloud services like AWS, GCP, or Microsoft Azure, users often wait several weeks for access, and high-end GPUs are typically unavailable.

 

2. Poor Quality: Users have limited options in terms of GPU hardware quality, security levels, computational latency, and other factors, often having to settle for what’s available.

 

3. High Costs: Using high-end GPUs is extremely expensive, potentially costing hundreds of thousands of dollars per month for training and inference.

 

io.net site

 

io.net addresses these issues by aggregating underutilized computational resources, such as surplus GPUs from independent data centers, cryptocurrency miners, and networks of crypto projects like Filecoin and Render. These resources form a decentralized computational network, enabling engineers to access vast computational power in a customizable, cost-effective system.

 

If you need to deploy AI models and computational power, you can create clusters on io.net and pay for the rental using credit cards like Visa and MasterCard, Solana Pay, or USDC cryptocurrency.

 

Currently, the io.net network is in the testing phase, with approximately 12,000 GPUs available, supporting all GPUs newer than the Nvidia 3050. The overall network utilization rate is around 19%, a figure expected to increase after the official launch. Regular users can rent out their idle GPUs and CPUs on io.net or other networks like Render Network, earning fees and positioning themselves for potential airdrops.

 

HOW TO RENT OUT IDLE GPUS ON IO.NET

 

io.net currently supports Windows, iOS, and Linux systems. If you have one of these systems and a GPU of at least RTX 3050, you can follow the steps below to rent out your GPU. The following instructions use Windows as an example.

 

It is recommended to download and install Docker and Nvidia drivers in advance, and restart your computer.

 

1. Go to https://cloud.io.net/, log in using Google or Twitter, and find “Worker” in the dropdown menu on the homepage.

 

 

2. After entering the Worker page, click on “Connect New Worker.”

 

 

3. Select the operating system “Windows”.

 

 

4. Select the device type. Since you are renting out a GPU, please click on GPU Worker.

 

 

5. Follow the steps provided in the official Docker, Cuda, and Nvidia driver installation documentation.

 

 

6. Open Docker and execute Docker commands in the terminal (Windows users can use the built-in PowerShell to input commands).

 

7. Click “Refresh” and wait for the device to connect. If “Running” appears, the connection is successful.

 

 

8. After completing the connection, remember to set your payout address in the “Earning Rewards” section under “Payout” to receive rental income and rewards.

 

 

FUTURE POTENTIAL OF IO.NET

 

io.net is a decentralized GPU network designed to provide computational power for large startups, especially those focused on artificial intelligence. This network makes computational power more scalable, accessible, and efficient. With over 63,000 GPU providers, io.net operates at a cost nearly one-tenth that of traditional cloud providers, making it an important platform for democratizing computational power.

 

The key difference between io.net and other projects is its low-cost access to GPUs and CPUs, significantly reducing costs for AI startups and researchers. Users can access these resources globally and instantly without needing permission. The network has over 25,000 nodes, making it one of the largest decentralized GPU networks in the world. Its technology allows GPUs to cluster in the cloud, helping large-scale AI projects reduce computation costs by 90%.

 

Additionally, io.net integrates with leading projects such as Render and Filecoin and is built on the Solana blockchain, known for its high performance and low transaction fees. With the introduction of $IO, io.net is paving the way for a future of AI development that is more accessible, collaborative, and rewarding.

 

>>> More to read : What is Solana? The Ethereum killer


FAQ

 

  • What is io.net (IO) ?

io.net is a decentralized physical infrastructure network (DePIN) project on Solana. $IO is the native token of io.net.

 

 

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