Coinbase adds support for an artificial intelligence (AI)-driven altcoin on the Solana (SOL) network.
In a new announcement, the leading US crypto exchange says that decentralized physical infrastructure network (DePIN) io.net (IO) is being added to the trading platform.
Said Coinbase,
“Trading will begin at 9 a.m. Pacific Time on October 9, 2024, if liquidity conditions are met. Once sufficient supply of this asset is established, trading on our IO-USD trading pair will be launched in stages. Support for IO may be restricted in some supported jurisdictions.
IO is trading at $1.77 at the time of writing, down more than 3% in the last 24 hours. With a current market cap of $168 million, iot.net is the 295th largest crypto project.
The io.net project aims to leverage idle graphics processing units (GPUs) for use in machine learning (ML) and AI projects.
Says the project website,
“We make IT more scalable, accessible and efficient. Our mission is to unlock equitable access to computing power by assembling over 1 million GPUs from independent data centers, crypto miners and crypto projects such as Filecoin or Render. Major cloud providers currently have around 10-15 exaFLOPS of GPU compute capacity. However, given the growing volume of AI/ML model training and inference workloads, the potential demand for GPU computing in the cloud could reach 20-25 exaFLOPS.
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