China News by Thebittimes.Com

The decentralized cloud service io.net has announced a partnership with Render Network (RNDR) to expand AI-focused GPU suppliers . As part of the “Early Suppliers Incentive Program”, the partnership will distribute up to 1.14 million RNDR ($2.60 million). Essentially, io.net aims to expand its Decentralized Physical Infrastructure Network (DePIN) for Artificial Intelligence (AI) by onboarding more GPU Suppliers. Meanwhile, Render will bring its existing network of distributed GPU suppliers who will support the goal of creating the world’s largest DePIN. Notably, Render Network community members with consumer-grade GPUs (Nvidia RTX 4090 or below) with fewer than 25 nodes will be eligible for enhanced rewards from this moment on. According to information shared with Finbold, the partnership will issue RNDR rewards in phases over a total of eight weeks. At this first moment, there are 300,000 RNDR tokens ($700,000) available for distribution. What is next for AI GPU Suppliers and ...

Token incentive models may become obsolete as layer-2 networks focus on ease of functionality and low fees, but how will this impact decentralization? Layer-2 networks continue to gain momentum as the Ethereum ecosystem advances. For example, data from analytics provider Token Terminal found that layer-2 scaling solution Polygon had 313,457 daily active users as of Jan. 17, 2023 — a 30% increase in activity since October 2022.  Moreover, the Polygon ecosystem recently announced the launch of its beta version Zero-Knowledge Ethereum Virtual Machine. As a result, Polygon’s native token, Polygon (MATIC), maintains a bullish narrative. While notable, some believe layer-2 networks offering token incentive models may soon become obsolete. For instance, Jesse Pollak — head of protocols and Base core contributor at American crypto exchange Coinbase — told Cointelegraph at ETHDenver 2023 that there are currently no plans to associate a token with Base, the Ethereum layer-2 network recently la...