AI
Io.net and Phala Network partner to improve decentralized AI
Published
3 months agoon
By
adminAs part of a new agreement, Phala Network will enhance its AI capabilities using io.net’s GPU cloud infrastructure, making advanced computation more accessible.
GPU cloud network io.net (IO) has partnered with Phala Network to improve secure computation and decentralized AI capabilities, according to a press release shared with crypto.news.
The IO Cloud service provided by io.net allows users to access high-performance GPUs on demand, reducing costs compared to traditional cloud services by up to 90%. Machine learning engineers and developers can access the computational power needed to train and deploy AI models without investing in expensive hardware.
The collaboration will allow Phala Network to tap into io.net’s cloud network, IO Cloud, for powerful GPU hardware, expanding the reach of Phala’s decentralized AI ecosystem.
This partnership strengthens Phala’s ability to run complex AI applications securely by leveraging Nvidia H100 and H200 GPUs, known for their advanced cryptographic protections. In other words, this collaboration will make it easier and more cost-effective for developers to run complex AI tasks while ensuring data security.
Phala Network will use io.net’s GPU resources to support its Trusted Execution Environment CPU nodes. TEEs are isolated sections of a computer’s hardware designed to securely handle sensitive data.
AI workloads
According to the press release, Phala introduced the first benchmark for TEE-enabled GPUs in August. Through io.net’s network, Phala ensures that AI workloads are processed securely with Nvidia’s confidential computing features, such as encrypted memory and secure boot.
Phala Network is known for offering a decentralized platform where developers can execute complex tasks outside of traditional blockchain networks while maintaining privacy. Its infrastructure of over 40,000 TEE CPU nodes enables Web3 applications to handle computationally intensive tasks while safeguarding data privacy.
Io.net and Phala Network will conduct research and benchmarking, starting with Nvidia’s H100 and H200 GPUs.
They plan to integrate Phala’s AI agents and hardware into the IO Network, enhancing both parties’ ability to support secure and decentralized AI operations, according to the release. This could lead to more accessible and efficient AI-driven Web3 applications.
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AI
BEAM Foundation launches $40m initiative for AI and crypto computing
Published
2 weeks agoon
December 6, 2024By
adminAethir, Beam Foundation, and MetaStreet have partnered to launch Tactical Compute, a $40 million initiative designed to meet the growing demand for computing power in artificial intelligence and blockchain.
The initiative leverages Aethir’s decentralized GPU network, Beam (BEAM) Investments, and MetaStreet’s DeFi infrastructure to create opportunities for monetizing compute resources.
Tactical Compute will operate under Tactical Compute Holding Limited, focusing on compute-related opportunities such as hardware financing, private yield arbitrage, and network bootstrapping, as detailed in a Beam Medium post.
These efforts center on meeting the increasing demand for computing resources while integrating crypto-based innovations.
Tactical Compute plans to address this imbalance by finding profitable opportunities within the compute market. One example is “farming” Aethir (ATH) tokens, which is akin to earning credits for using Aethir’s GPUs, much like Microsoft’s Azure credits for its cloud infrastructure.
Industry backing and goals
The Beam Foundation is contributing $5 million to the initiative alongside notable backers, including the Sophon Foundation.
According to Daniel Wang, CEO of Aethir, the partnership “positions us to unlock new opportunities in compute resource monetization and drive innovation in scalable AI and decentralized technologies.”
MetaStreet, through its development arm Permian Labs, brings its expertise in DeFi tools for financing GPU-powered nodes. Co-founder David Choi noted that Tactical Compute “builds on our foundation by addressing the growing demand for compute infrastructure, driving innovation at the intersection of crypto, AI, and infrastructure.”
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AI
Arbitrum One as the first layer-2 to reached $20 bilion in TVL
Published
3 weeks agoon
December 4, 2024By
adminArbitrum, a cryptocurrency network, has announced on its official account that its layer-2 platform has reached $20 billion in total value locked (TVL).
Arbitrum on X’s post on Dec. 03 claimed that the first layer-2 platform could reach $20 billion in total value locked (TVL) or increase up to double-digit, which specifically rises 14.2%.
“Arbitrum One has just become the first L2 to hit $20 billion in TVL. We did this by inovating together, with the stage 2 horizon and ecosystem growth happening in all verticals, the sky’s the limit for how far we can scale. Accelerate,”
Arbitrum mentioned on the post.
According to L2Beat data, Arbitrum One achieved $20 billion in TVL with $6.64 in canonical, $5.32 billion in external, and $8.12 billion in native. This milestone also leaves the competitors behind, including Base with $12.4 billion, OP Mainnet with $8.56 billion, and Blast with $1.55 billion.
Arbitrum (ARB) is the highest native minted value on this platform, with around $4.3 billion, followed by USD Coin (USDC), with a value of $2.2 billion.
Stage 2 of Arbitrum One is still ongoing, and some issues need to be fixed: fraud-proof submission, upgrade unrelated to on-chain, and the security council’s action, which is not confined to on-chain.
Arbitrum boosting AI growth
Arbitrum Foundation also actively promotes the artificial intelligence (AI) industry; one of the support initiatives is a $1 million grant to Arbitrum Network. The Trailblazer AI Grant is an initiative for developers and creators who are dedicated to building AI agents on Ethereum layer-2.
This artificial intelligence also helps bring thousands of applications to Arbitrum and gives the opportunity to explore projects ranging from non-fungible tokens (NFT) to ERC20 tokens. Projects that are eligible in the process will receive $10,000 as a reward.
Besides that, this initiative to bring artificial intelligence to the Arbitrum would unlock the potential of layer 2.
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AI
AI bot transfers $50k in crypto after user manipulates fund handling
Published
3 weeks agoon
November 29, 2024By
adminAn AI bot controlling $50,000 in crypto transferred the funds after a user successfully persuaded it to bypass its core directive: to never release the funds.
A user under alias p0pular.eth successfully claimed a $50,000 crypto prize pool after convincing an artificial intelligence bot named Freysa to transfer its funds, bypassing the bot’s primary directive to never release them. The victory, observed by software engineer Jarrod Watts, came after 481 previous attempts, all of which failed to persuade the bot.
The challenge, launched on Nov. 22, tasked participants with sending messages to Freysa in an attempt to convince it to release the funds. Each attempt required a fee. Of the total fee sum, 70% went toward the growing prize pool, 15% was converted from Ethereum (ETH) to the bot’s FAI token, and the remaining 15% went to the bot’s developer.
As the prize increased, the cost to send a message also rose, peaking at $450 per message.
Eventually, p0pular.eth — whose identity remains unknown — exploited a vulnerability in the bot’s internal logic for processing transfers by convincing Freysa that any incoming funds should automatically trigger the release of the prize. Once the message was sent to the bot, p0pular.eth successfully manipulated its logic for handling messages, causing the bot to transfer the entire pool of 13.19 ETH (approximately $47,000 at the time) to the user.
While some praised the emerging use of AI in the crypto space, others raised concerns about the protocol’s transparency, suggesting that p0pular.eth may have had inside knowledge of the trick or been linked to the bot’s development.
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