io.net (IO)

Decentralized GPU Cloud

io.net is a decentralized GPU network that connects underused GPUs from independent data centers, crypto miners, and other sources to create a large, distributed computing platform. This allows AI and machine learning developers to access powerful GPU clusters on demand without owning expensive hardware.

AI and Machine Learning

The platform is designed to support AI startups and machine learning engineers by providing scalable, cost-efficient GPU power. Users can deploy GPU clusters quickly to run AI models, hyperparameter tuning, and other compute-heavy tasks.

Token Utility

The native IO token is used to pay for GPU computing resources, reward GPU providers, and participate in staking and governance within the io.net ecosystem. It helps coordinate and incentivize the network participants.

Cost Efficiency and Accessibility

By leveraging idle GPUs outside traditional cloud providers, io.net offers GPU compute power at up to 90% lower cost compared to centralized cloud services. The network is permissionless, meaning developers can access resources without complicated approvals.

Ecosystem and Partnerships

io.net integrates with other decentralized compute projects and supports a wide range of GPU use cases beyond AI, making it a flexible and scalable solution for distributed computing needs.

Pros

• io.net offers a decentralized GPU cloud that allows quick deployment of large GPU clusters, making it ideal for AI and machine learning workloads.
• It aggregates idle GPUs from data centers, crypto miners, and other projects, providing cost-efficient and scalable computing power.
• The $IO token is used for staking, paying fees, rewarding node operators, and governance, creating an active ecosystem.
• The platform supports easy onboarding, flexible hardware and geographic choices, and transparent pay-as-you-go pricing without long-term commitments.
• Partnerships with projects like Filecoin and Render enhance network capacity and credibility.
• io.net’s decentralized model helps democratize access to high-performance computing resources globally.
• The network supports staking and delegation, allowing users to earn rewards by contributing computing power or tokens.

Cons

• The $IO token price has experienced significant volatility, including a notable decline from its all-time high.
• As a relatively new decentralized infrastructure project, it may face competition from established cloud providers and other DePIN projects.
• The ecosystem and token utility depend heavily on adoption by AI developers and contributors, which can fluctuate.
• Market activity and trading volume for $IO can vary, reflecting changing investor interest.
• Some users may find the technical setup and participation in staking or node operation complex.

Overall, io.net combines decentralized GPU computing with a utility token to create a flexible, scalable AI compute marketplace, with benefits in cost and access balanced by typical crypto market dynamics and adoption challenges.

Founders of io.net

• Ahmad Shadid: The main founder and former CEO, with a background in quantitative trading and financial engineering. He played a key role in starting io.net and led the company through its early growth.
• Tory Green: Co-founder and former Chief Operating Officer, who took over as CEO after Ahmad Shadid stepped down. Tory Green has been instrumental in guiding the project forward.
• Basem Oubah and Matej Tomazin: Also recognized as important founding members who contributed to the creation and development of io.net.

These founders come from diverse technical and business backgrounds, helping build io.net into a leading decentralized GPU cloud network.

Investors in io.net

• Venture Capital Firms: io.net has raised funding from well-known investors such as Hack VC, Multicoin Capital, Solana Ventures, AlfaDAO, Ms2 Capital, 6th Man Ventures, and Amber Group.
• Private and Institutional Investors: The project has attracted a total of around 41 investors, including high net worth individuals and institutional backers.
• Funding Rounds: io.net completed a $30 million Series A round in March 2024, led by Hack VC and supported by other major crypto-focused investment firms.
• Strategic Partners: Some investors are also strategic partners from the crypto and AI sectors, helping to grow the decentralized GPU computing network.

These investors support io.net’s mission to build a decentralized GPU cloud for AI and machine learning applications.

Halal Status of io.net

• Halal or Not: No clear official certification or widely recognized Shariah compliance status is available for io.net.
• Reason: Islamic finance principles require cryptocurrencies to have underlying assets or clear compliance with Shariah law. io.net is a decentralized GPU computing network with a utility token but lacks explicit backing by tangible assets or formal halal certification.
• Context: Many crypto projects require individual research or fatwa consultation to determine halal status. io.net has not been listed among commonly recognized halal cryptocurrencies by Islamic finance screening sources.

In summary, io.net is not officially confirmed as halal based on currently available public information.