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io.net to Develop Proof-of-AI, and More

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Decentralized Physical Infrastructure Networks (DePin) are transforming the tech by enabling decentralized projects in real-world infrastructure.

Here’s what happened recently in the DePIN sector: io.net and Flock.io began collaborating on the Proof-of-AI, Aethir partnered with Auros to enhance ATH token transactions, and Space and Time (SxT) secured a $20 million investment round to further develop its AI and blockchain integration.

io.net to Launch Proof-of-AI Consensus

io.net and Flock.io have teamed up to create Proof of AI (PoAI), an AI-focused Proof of Work and consensus mechanism. This system requires nodes in decentralized networks to complete AI training tasks to verify their integrity. Nodes that successfully perform these tasks can earn rewards from both DePIN and AI training networks.

PoAI operates by continuously challenging nodes with tasks, gathering their responses, and providing critical data (e.g., latency, score deviation, and data correctness) to form assessments. This mechanism ensures that nodes function properly and contribute to AI training in a meaningful way.

“The introduction of Proof of AI will bring significant improvements in AI model training and inference over decentralized compute networks. I’m confident GPU node operators and the broader AI/ML developer community will embrace Proof of AI enthusiastically — we certainly have,” io.net CEO and Co-founder Tory Green said.

Read more: What Is DePIN (Decentralized Physical Infrastructure Networks)?

Flock is responsible for providing ongoing challenges, such as generating synthetic data through inference on large language models (LLMs), which helps determine the expected behavior from GPU devices based on factors like TFLOPS and VRAM. This process allows decentralized AI ecosystem providers to verify the honesty of participants in their networks and maintain high-quality AI training inputs.

The PoAI service will create a self-sustaining cycle linking Flock’s decentralized training platform with AI-focused DePIN platforms. Over time, Flock plans to expand PoAI’s verification capabilities to include not only compute tasks but also AI training and federated learning. There are even discussions about the potential for a dedicated AI blockchain in the future.

Aethir Partners with Auros to Boost ATH Token Transaction Efficiency

Aethir, a leading provider of GPUs-as-a-service, has partnered with Auros, a top crypto-native algorithmic trading firm, to boost transparency and efficiency in ATH token transactions for Aethir’s decentralized cloud computing infrastructure. This partnership aims to tackle the common challenge of transaction transparency and efficiency as enterprises transition to decentralized cloud computing. By implementing regular, on-chain transactions, both companies ensure every step is visible and verifiable.

Aethir reports $36 million in annual recurring revenue from enterprise clients, converting this into ATH tokens for computing services. This process builds trust within the Aethir community and among enterprise clients by providing clear insights into how ATH tokens power the ecosystem.

“Teaming up with Auros ensures our financial transactions are executed with transparency and efficiency.This enhances trust within our community and streamlines the integration process for our enterprise clients,” Aethir Co-Founder and CSO Mark Rydon said.

Read more: Top 12 Crypto Companies to Watch in 2024

Auros’ expertise plays a critical role in the partnership by ensuring ATH token purchases are executed efficiently, reducing costs, and maximizing value. As a result of this collaboration, Aethir has successfully onboarded major players in telecommunications, gaming, and publishing into its decentralized infrastructure. These enterprises can now access cloud gaming, cloud phone, and AI training services without the typical onboarding challenges.

Space and Time Secures $20 Million Funding

Space and Time (SxT) Labs has secured $20 million in Series A funding to strengthen its position at the intersection of AI and blockchain, bringing its total funding to $50 million. The round was led by Framework Ventures, Lightspeed Faction, and others, including Microsoft’s M12 Ventures. The funds will accelerate engineering, product development, and ecosystem growth.

SxT is building a verifiable compute layer and provides tools like blockchain indexing, a data warehouse, and the Proof of SQL ZK coprocessor to ensure secure, tamper-proof data processing. This technology allows developers to create advanced applications combining AI and blockchain.

“Blockchain technology lays the foundation for a future where anyone can build an application, deploy it to their community, and create a tokenized economy around it, without any centralized intermediaries like banks or governments in the way. But today, the design space for blockchain apps is still very limited. Realizing a better tokenized future requires two things: easy AI tools that allow anyone to build an onchain app, and a trusted source that provides ZK-verifiable, realtime data to your smart contracts. That’s what we’re delivering with Space and Time,” Space and Time CEO and Co-Founder Nate Holiday told BeInCrypto.

Read more: How To Invest in Artificial Intelligence (AI) Cryptocurrencies?

SxT has partnered with Microsoft’s AI Co-Innovation Lab to accelerate generative AI tools, with a focus on developing AI-powered apps. The company’s work in blockchain and AI is seen as crucial by its investors, who believe it will drive new use cases in decentralized finance (DeFi), traditional finance (TradFi), and AI.

While DePIN is still in its early stages and has some flaws, it allows for the exchange of tokens between synthetic and real-world assets. This supports traditional infrastructure by providing last-mile coverage in areas where conventional models are not economically feasible.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Can Bulls Stage A Comeback?

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Este artículo también está disponible en español.

Chainlink is facing increasing bearish pressure as its price continues to edge lower, signalling a potential move toward the further downside. After a period of consolidation, the bears have regained control, pushing Chainlink closer toward the $9.28 support level. 

However, bulls may not be ready to give up just yet. With market sentiment fluctuating, the possibility of a bullish comeback looms on the horizon. By examining key technical indicators and market sentiment, we seek to determine if LINK is poised for a deeper decline or if bullish forces could reverse the current trend and drive the price upward.

At the time of writing, Chainlink was trading around $10.59, marking a 0.10% decline over the past day. The cryptocurrency’s market capitalization stood at approximately $6.4 billion, while trading volume exceeded $206 million, showing increases of 0.10% and 15.36%, respectively.

Current Market Sentiment: Bearish Pressure Mounts On Chainlink

On the 4-hour chart, following a successful drop below the $11 mark, LINK has continued to experience negative momentum, dropping toward the 100-day Simple Moving Average (SMA). As the cryptocurrency approaches the 100-day SMA, it could either find temporary support or risk further declines if the bearish momentum continues to intensify.

Chainlink
LINK showing growing negative momentum after drop below $11 | Source: LINKUSDT on Tradingview.com

Also, the Relative Strength Index (RSI) on the 4-hour chart, has dropped below the 50% threshold, now sitting at 42%. With the RSI attempting to move deeper into the oversold territory, it shows that bears are gaining control, and an extended decrease could be on the horizon if buying interest does not pick up soon.

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On the daily chart, Chainlink is currently making a bearish movement, toward the $7.14 trading below the 100-day Simple Moving Average. This movement underscores strong selling pressure and negative market sentiment, signaling a heightened risk of further losses.

Chainlink
Chainlink drops below the 100-day SMA, targeting the $7.14 level | Source: LINKUSDT on Tradingview.com

Lastly, the 1-day RSI reflects increasing pessimistic pressure on LINK, as the indicator has fallen to 47% after briefly crossing above the 50% threshold. This drop highlights mounting selling activity and signals a stronger potential for additional downward movement.

Will LINK See A Recovery Or Further Decline?

As the cryptocurrency approaches the $9.28 support level, which could spark a potential rebound, technical indicators like the RSI still point to strong selling pressure. If LINK fails to hold this level, a break below could result in persistent declines, potentially testing the $7.14 support level and even lower thresholds.

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However, should Chainlink manage to hold above this crucial support level, it could set the stage for a potential upward move toward the $11.10 resistance. A successful breakout through this resistance could ignite a significant rally, paving the way for the price to aim for the next key resistance at $12.44. If bullish momentum continues to build, Chainlink may even reach higher levels, extending the rally beyond current resistance points.

Chainlink
LINK trading at $10.47 on the 1D chart | Source: LINKUSDT on Tradingview.com

Featured image from Medium, chart from Tradingview.com



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Bitcoin Price Bounces Back, But Can It Sustain Above $60K?

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Bitcoin price started another increase above the $58,500 resistance. BTC is back above $60,000 and again struggling to continue higher.

  • Bitcoin is correcting gains from the $61,200 resistance zone.
  • The price is trading above $59,500 and the 100 hourly Simple moving average.
  • There is a connecting bearish trend line forming with resistance at $60,500 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could climb again if it stays above the $59,400 support zone.

Bitcoin Price Reclaims $60K

Bitcoin price remained supported above the $57,500 level. BTC formed a base and started another increase above the $58,500 resistance zone. There was a clear move above the $60,000 level.

The price tested the $61,200 resistance zone. A high was formed at $61,300 and the price is now correcting gains. There was a move below the $60,500 level. The price dipped below the 23.6% Fib retracement level of the upward move from the $57,488 swing low to the $61,300 high.

Bitcoin is now trading above $59,500 and the 100 hourly Simple moving average. On the upside, the price could face resistance near the $60,500 level. There is also a connecting bearish trend line forming with resistance at $60,500 on the hourly chart of the BTC/USD pair.

Bitcoin Price
Source: BTCUSD on TradingView.com

The first key resistance is near the $60,650 level. A clear move above the $60,650 resistance might start a steady increase in the coming sessions. The next key resistance could be $61,200. A close above the $61,200 resistance might spark more upsides. In the stated case, the price could rise and test the $62,500 resistance.

More Downsides In BTC?

If Bitcoin fails to rise above the $60,500 resistance zone, it could continue to move down. Immediate support on the downside is near the $60,000 level.

The first major support is $59,750. The next support is now near the $59,400 zone and the 100 hourly Simple moving average or the 50% Fib retracement level of the upward move from the $57,488 swing low to the $61,300 high. Any more losses might send the price toward the $58,450 support in the near term.

Technical indicators:

Hourly MACD – The MACD is now losing pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

Major Support Levels – $60,000, followed by $59,400.

Major Resistance Levels – $60,500, and $61,200.



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BNB Price Set to Outperform: Is a Breakout Coming Soon?

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BNB price started a fresh increase above the $542 resistance zone. The price is now consolidating gains and might aim for more gains above $550.

  • BNB price started a fresh increase above the $540 resistance zone.
  • The price is now trading below $550 and the 100-hourly simple moving average.
  • There is a key bearish trend line forming with resistance at $550 on the hourly chart of the BNB/USD pair (data source from Binance).
  • The pair must stay above the $540 pivot level to start another increase in the near term.

BNB Price Regains Traction

In the past few days, BNB outperformed Ethereum and Bitcoin. It remained stable above $525 and started another increase above the $535 resistance zone.

There was a move above the $542 and $545 resistance levels. The price climbed above the 50% Fib retracement level of the downward move from the $562 swing high to the $527 low. However, the bears are now active near the $550 resistance zone.

The price is now trading below $550 and the 100-hourly simple moving average. If there is a fresh increase, the price could face resistance near the $550 level. There is also a key bearish trend line forming with resistance at $550 on the hourly chart of the BNB/USD pair. The trend line is close to the 61.8% Fib retracement level of the downward move from the $562 swing high to the $527 low.

BNB Price

The next resistance sits near the $558 level. A clear move above the $558 zone could send the price higher. In the stated case, BNB price could test $565. A close above the $565 resistance might set the pace for a larger move toward the $580 resistance. Any more gains might call for a test of the $592 level in the near term.

Are Dips Supported?

If BNB fails to clear the $550 resistance, it could start another decline. Initial support on the downside is near the $544 level. The next major support is near the $540 level.

The main support sits at $535. If there is a downside break below the $535 support, the price could drop toward the $520 support. Any more losses could initiate a larger decline toward the $505 level.

Technical Indicators

Hourly MACD – The MACD for BNB/USD is losing pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BNB/USD is currently above the 50 level.

Major Support Levels – $540 and $535.

Major Resistance Levels – $550 and $558.



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