AO, a hyper-parallel pc, noticed an inflow of $260 million stETH pre-bridged to its platform, propelling it to turn out 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 keeping with Williams, AO’s Whole Worth Locked (TVL) now matches that of Cardano ($209.43 million), surpassing notable blockchain tasks comparable 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 based mostly 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 velocity. This makes AO notably well-suited for duties that demand important computational sources, comparable to large-scale simulations, complicated information evaluation, and AI mannequin coaching.
In keeping with analysis on hyper-parallel computing, this methodology leverages the facility of distributed processing to deal with issues that conventional programs discover difficult to deal with effectively.
Arweave, alternatively, makes use of a blockchain-like construction known as “blockweave” to retailer information completely, making certain that when information is written, it can’t be altered or deleted.
This immutability of information has important implications for information integrity and safety, making Arweave a gorgeous choice for builders in search of dependable, long-term information storage options.
The Truthful Launch of AO
A important 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 implies that the venture’s tokens have been distributed with none preferential remedy or pre-sale to insiders.
In different phrases, 100% of the minted tokens can be found to your entire neighborhood. This method fosters a extra decentralized and equitable distribution of tokens, encouraging broader participation and lowering the chance of market manipulation.
The AO community was launched in February, however the token issuance befell 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, just 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 keeping with a report on cryptocurrency honest launches, this not solely helps management inflation but additionally introduces a deflationary facet over time, doubtlessly growing the worth of the tokens as their shortage grows.
The Way forward for AO and Hyper-Parallel Computing in DeFi
The fast progress of AO highlights a big pattern within the blockchain and DeFi house: the growing demand for high-performance computing options amid the standard computational limitations of blockchains. As extra tasks and functions require substantial computational sources, the enchantment of hyper-parallel computing platforms like AO will proceed to rise.
Arweave Market Knowledge
On the time of press 12:35 am UTC on Jun. 23, 2024, Arweave is ranked #49 by market cap and the worth 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. Be taught extra about Arweave ›
Crypto Market Abstract
On the time of press 12:35 am UTC on Jun. 23, 2024, the full crypto market is valued at at $2.34 trillion with a 24-hour quantity of $35.03 billion. Bitcoin dominance is at present at 54.06%. Be taught extra concerning the crypto market ›