Consensus Mechanisms

Revolutionizing Decentralized Networks with Proof of AI

Thursday. August 29 at 5:00 PM

1 min. read

Io.net, a decentralized physical infrastructure network (DePIN), has teamed up with FLock.io, a decentralized artificial intelligence training platform, to introduce a groundbreaking consensus mechanism called “Proof of AI” (PoAI). This innovative approach aims to enhance the integrity of decentralized networks by ensuring genuine contributions of compute resources rather than mere simulated participation for rewards. According to Milan Amin, chief marketing officer at io.net, PoAI will make decentralized networks more trustworthy and scalable for AI applications. The implementation of PoAI signifies a significant advancement in developing decentralized AI systems, providing a decentralized and AI-native approach to substantiate DePIN node integrity. Additionally, the recent leadership change at io.net, with Ahmad Shadid stepping down and Tory Green taking over, reflects the project's commitment to growth and success amidst allegations. Bitcoiners are closely watching these developments as they navigate the evolving landscape of decentralized technologies.

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Revolutionizing Decentralized Networks with Proof of AI

Thursday. August 29 at 5:00 PM

Consensus Mechanisms

Critique of Misleading TPS Metrics in Solana and Cardano

Monday. August 19 at 5:00 PM

Justin Bons, the founder and CIO of Cyber Capital, the oldest cryptocurrency fund in Europe, recently raised concerns about the inaccurate transactions per second (TPS) metrics reported by Solana (SOL) and Cardano (ADA). Bons highlighted that both networks are providing misleading information that deviates significantly from industry standards. Solana's claimed TPS of 65,000 is far from its actual capabilities due to cryptographic limitations, resulting in a feasible maximum of around 50,000 TPS. Similarly, Cardano's advertised TPS of 477 is unrealistic, with the actual figure being a mere 18 TPS. Bons criticized both networks for counting multiple outputs as separate transactions, artificially inflating TPS figures. He proposed a new metric, Outputs Per Second (OPS), for a more accurate representation of network capacity. Bons emphasized the importance of transparent and accurate reporting of performance metrics to aid investors and users in making informed decisions.

Consensus Mechanisms

Revolutionizing Asset Distribution in the Crypto Space

Friday. August 16 at 11:30 AM

In a groundbreaking move, Cellula has introduced a programmable incentive layer on the Ethereum Virtual Machine (EVM) ecosystem to tackle issues of fair asset distribution and decentralization in the cryptocurrency industry. The core of Cellula's innovation lies in its virtual Proof-of-Work (vPOW) consensus mechanism, which merges concepts from Conway’s Game of Life, Variable Rate GDAs Algorithm, and Game Theory to transform how digital assets are distributed and liquidity is allocated. By addressing the problem of asset concentration among a few entities, Cellula aims to promote fairness and accessibility in the crypto space. Through innovative algorithms like Conway’s Game of Life for mining, Variable Rate GDAs for pricing, and Analysoor for fair asset distribution, Cellula is reshaping decentralized finance and on-chain participation. The project's permissionless nature and transparent processes further enhance decentralization and credibility, setting a new standard for equitable asset distribution in the crypto ecosystem.

Consensus Mechanisms

Canto Blockchain Upgrade to Address Ongoing Outage

Monday. August 12 at 10:30 AM

Canto, a Cosmos-based layer-1 blockchain, is set to undergo an upgrade on Aug. 12 to resolve a 33-hour outage caused by a consensus issue. Launched in August 2022, Canto is a permissionless blockchain for DeFi applications, compatible with Ethereum Virtual Machine. The blockchain has been inactive for over a day, with the last transaction recorded on Aug. 11. Despite the outage, Canto assures users that their funds are safe and normal functions will resume once the consensus problem is fixed. The team plans to migrate to the Ethereum Network in September 2023 but reversed the decision in March 2024 to remain a layer-1 blockchain. Activity on the blockchain peaked in February 2023 but has since declined, currently ranking as the 80th largest blockchain by total value locked.

Consensus Mechanisms