19/04/2024 Korean Channel AMA Note/Q&A by @Micahel | io.net (Translated by @Delmonte)

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Q: I’m curious when I can see the reward points on the homepage.

A: The reward dashboard feature may not be launched in time for the TGE event in the last week of April. We had to prioritize development resources for overall infrastructure improvements due to our rapid expansion and influx of new members. This change in plans reflects a strategic decision to focus on other priorities that more closely align with the platform’s current demands and goals. The feature to track the total points accumulated by workers was a planned feature, but we had to shift our development focus due to rapid growth and expansion. We appreciate your understanding as we evolve to provide better service to our expanding user base.

Q: Tokenomics will be revealed on the 15th, but I want to know what you think about nodes that will only receive the first airdrop and then leave, and how it will affect the project.

A: It’s natural to encounter participants in every project who are primarily interested in initial incentives like airdrops. While there may be cases of departure after receiving the first airdrop, it’s important to recognize that their participation can still have a positive impact. For example, they can spread the word about the project and contribute to initial distribution and promotion. Such participation can be beneficial, especially in the early stages where it can attract more attention and over time lead to a broader and more dedicated user base. In the long run, we are confident that io.net will be able to attract appropriate users that will help the success of the project.

Q: How much the GPU and CPU providers do you expect to drop out after the airdrop? I’m curious about what measures there are to respond to this, other than your own facilities.

After the airdrop, it is common for users to disconnect nodes, so we expect there will be a departure of GPU and CPU providers. However, our project has set an ambitious initial goal of integrating 1 million GPUs within the next 5 years. Surprisingly, despite being in the beta stage, more than 500,000 GPUs and CPUs are already connected, surpassing half of this goal. These initial results give us confidence not only that we can achieve our goal, but also that we have the potential to exceed it. Our strategy and the robustness of our network are designed to maintain and grow our provider base, ensuring long-term stability and success

Q: Why should companies use io.net instead of their existing stable services? The issues of stability and reliability seem to pose a risk greater than the cost. I’m curious if there are merits beyond just the price.

The existing problems that users are experiencing on the current platform are expected to be resolved and handled after the beta stage is completed. As we all know, problems are inevitable in the beta version, so we are always grateful to the community for raising issues, which allows our team to quickly resolve them. io.net stands out as a service provider not only for its price competitiveness but also for its excellent scalability and rapid deployment capabilities. The robust infrastructure of the platform ensures high performance and stability, and advanced security measures protect user data. With a user-friendly interface and strong community support, io.net is an attractive choice for companies looking for a network solution that offers both efficiency and innovation.

Q: What background does the io.net team have?

io.net is a company that started in 2022, exclusively developing institutional-grade quant trading systems for the U.S. stock market and the cryptocurrency market. The founder and CEO, Ahmad Shadid, as a quant system engineer with rich experience, is focusing on developing and optimizing software and algorithms to utilize the computational capabilities of high-performance computing systems for financial modeling and quant trading systems.

Q: What goals does the io.net project have and what problems is it trying to solve?

As machine learning engineers, we have directly experienced the limitations of existing computing providers. The demand for GPU computing capacity for AI applications already exceeds 2.5 times the capacity of existing cloud services like AWS or Azure. Due to this high demand, the cost and access rights to these cloud services are becoming increasingly expensive. As a community, io.net can solve this problem by providing cost-effective access to underutilized computing resources for ML startups.

Q: What are the main benefits of io.net, and how does it differ from existing solutions?

Compared to existing providers, io.net is far superior, faster, and cheaper than any other option on the market. Users will have infinite flexibility to choose from the world’s best GPUs and powerful control over cluster types, including hosts, locations, GPU types, security levels, and other specifications. Clusters that typically take several weeks or months to deploy from existing providers can be deployed in just a few seconds. io.net offers all these features at up to 90% cheaper than other cloud computing providers on the market.

Q: What are the major achievements of io.net and what are its future goals?

We have successfully raised $30 million in a Series A funding round, and the number of network nodes has surpassed 500,000, demonstrating our growth and potential. Another important milestone is the Token Generation Event (TGE) scheduled for April 28th. The cloud computing industry is a vast market led by giant companies like Amazon and Google. Nevertheless, we have decided to pioneer a significant niche market. We express our determination to become a key player in the industry by securing at least 10% of the global cloud computing market within the next 2.5 to 5 years.

Q: What are the technical advantages of io.net, and what benefits can be gained through it?

The main advantage of io.net compared to competitors is its low cost and easy access, making the entry barrier competitively low. Users only pay for what they use and can also receive a refund if they terminate the cluster early. io.net is growing at a fast pace, and there are more and more ML startups utilizing our computing resources for large-scale ML and AI applications.

Q: What are the major challenges faced by the io.net project, and how have they been resolved?

We are currently addressing issues related to rapid growth. Recently, an unprecedented number of new nodes have been added to the network, causing temporary connection problems. In response to this, we are massively upgrading our infrastructure to support up to 1 million nodes, accommodating our growing user base. During the upgrade, some users may experience intermittent connection problems. Rest assured, we are doing our best to improve the scalability and stability of the network to provide a smooth experience for all users.

Q: Are there any recent news or updates about the io.net project?

io.net is enhancing its AI computing capabilities through major collaborations. The partnership with Render Network aims to expand the base of GPU providers, and the alliance with Ritual’s decentralized AI network will increase GPU utilization. These strategic moves will advance io.net’s infrastructure and service provision in the AI sector.
In addition to the partnerships with Render Network and Ritual, io.net recently announced a collaboration with KREA, an AI-based design platform. This partnership aims to integrate io.net’s computing resources with KREA’s platform to solve the global GPU shortage problem and strengthen AI-based multimedia production. Another noteworthy partnership is with Nimble Network, which focuses on the use of distributed AI models and data. This strategic alliance will innovatively transform the AI development environment by utilizing io.net’s distributed computing network. These partnerships reflect io.net’s efforts to expand the network and enhance AI and ML research capabilities through cost-effective GPU computing.

Q: Why is io.net focusing on GPU computing power? What changes can be expected through this?

io.net is focusing on GPU computing performance due to the need for fast, efficient processing in AI and machine learning. By leveraging the collective power of distributed GPUs, io.net will lower costs and increase accessibility to computing resources, promoting innovation in the AI field and accelerating development. This decentralized approach will disrupt traditional computing models and provide a scalable and cost-effective alternative for researchers and developers worldwide.

Q: What are the ways users can contribute to the io.net system and what are the benefits of doing so?

You can become a ‘worker’ by supplying GPU power to io.net. Anyone interested in connecting their GPU to the network can check out the step-by-step guide on our website. By supplying GPU power to io.net, you get the opportunity to monetize your idle GPU resources and convert them into a source of income. By providing the computing performance necessary for the development and operation of complex models and algorithms, you will be supporting the AI and machine learning industry. You can also become part of a growing community of tech enthusiasts and experts contributing to a larger vision of democratizing access to high-performance computing.