AO, a hyper-parallel pc, noticed an inflow of $260 million stETH pre-bridged to its platform, propelling it to develop into the twenty eighth largest decentralized finance (DeFi) financial system over the previous 4 days, Arweave and AO founder Sam Williams famous in a submit on X June 22.
Based on 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 purposes, together with synthetic intelligence (AI) apps. It’s primarily based on Arweave, which supplies 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 significantly well-suited for duties that demand vital computational assets, equivalent to large-scale simulations, complicated information evaluation, and AI mannequin coaching.
Based on analysis on hyper-parallel computing, this methodology leverages the ability 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 knowledge has vital implications for information integrity and safety, making Arweave a pretty choice for builders looking for dependable, long-term information storage options.
The Honest 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 challenge’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 group. 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 occurred 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.
Based on 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 development of AO highlights a major pattern within the blockchain and DeFi house: the growing demand for high-performance computing options amid the traditional computational limitations of blockchains. As extra initiatives and purposes require substantial computational assets, the attraction 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 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 entire 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 in regards to the crypto market ›
