AO, a hyper-parallel pc, noticed an inflow of $260 million stETH pre-bridged to its platform, propelling it to grow to be the twenty eighth largest decentralized finance (DeFi) financial system over the previous 4 days, Arweave and AO founder Sam Williams famous in a post on X June 22.
In accordance with Williams, AO’s Whole Worth Locked (TVL) now matches that of Cardano ($209.43 million), surpassing notable blockchain initiatives equivalent to zkSync, Fantom, Scroll, Algorand, Filecoin, and ICP.
Understanding AO and Arweave
AO makes use of a decentralized computational mannequin to allow parallel processing of functions, together with synthetic intelligence (AI) apps. It’s primarily based on Arweave, which gives everlasting information storage options.
Hyper-parallel computing entails using an unlimited variety of processors concurrently to carry out quite a few computations, dramatically growing effectivity and pace. This makes AO significantly well-suited for duties that demand vital computational assets, equivalent to large-scale simulations, advanced information evaluation, and AI mannequin coaching.
In accordance with analysis on hyper-parallel computing, this methodology leverages the facility of distributed processing to sort out issues that conventional programs discover difficult to deal with effectively.
Arweave, alternatively, makes use of a blockchain-like construction referred to as “blockweave” to retailer information completely, making certain that when information is written, it can’t be altered or deleted.
This immutability of knowledge has vital implications for information integrity and safety, making Arweave a sexy choice for builders searching for dependable, long-term information storage options.
The Truthful Launch of AO
A essential facet of AO’s introduction to the market was the honest launch of its token. Within the context of blockchain and cryptocurrency, a good launch signifies that the venture’s tokens had been distributed with none preferential remedy or pre-sale to insiders.
In different phrases, 100% of the minted tokens can be found to the whole neighborhood. This method fosters a extra decentralized and equitable distribution of tokens, encouraging broader participation and lowering the danger of market manipulation.
The AO community was launched in February, however the token issuance came about on June 13. For AO, the honest launch concerned the issuance of 21 million tokens, with a halving schedule set for each 4 years. This mechanism, much like Bitcoin’s halving course of, reduces the reward for mining new blocks, thereby controlling the speed at which new tokens are launched into circulation.
In accordance with a report on cryptocurrency honest launches, this not solely helps management inflation but in addition introduces a deflationary facet over time, probably growing the worth of the tokens as their shortage grows.
The Way forward for AO and Hyper-Parallel Computing in DeFi
The speedy progress of AO highlights a big development within the blockchain and DeFi area: the growing demand for high-performance computing options amid the standard computational limitations of blockchains. As extra initiatives and functions require substantial computational assets, the enchantment of hyper-parallel computing platforms like AO will proceed to rise.
Arweave Market Information
On the time of press 12:35 am UTC on Jun. 23, 2024, Arweave is ranked #49 by market cap and the value is down 2.46% over the previous 24 hours. Arweave has a market capitalization of $1.8 billion with a 24-hour buying and selling quantity of $51.43 million. Study extra about Arweave ›
Crypto Market Abstract
On the time of press 12:35 am UTC on Jun. 23, 2024, the overall crypto market is valued at at $2.34 trillion with a 24-hour quantity of $35.03 billion. Bitcoin dominance is at the moment at 54.06%. Study extra concerning the crypto market ›