Arweave’s AO sees $260 million pre-bridged in 4 days
Arweave’s AO sees $260 million pre-bridged in 4 days Arweave’s AO sees $260 million pre-bridged in 4 days
The Arweave-essentially based mostly mostly hyper-parallel computer issued its token in a supreme delivery lower than 10 days within the past
Quilt artwork/illustration by strategy of CryptoSlate. Image contains blended bid material that might perchance embody AI-generated bid material.
AO, a hyper-parallel computer, saw an influx of $260 million stETH pre-bridged to its platform, propelling it to transform the twenty eighth most keen decentralized finance (DeFi) financial system over the final four days, Arweave and AO founder Sam Williams renowned in a post on X June 22.
In accordance with Williams, AO’s Complete Fee Locked (TVL) now fits that of Cardano ($209.43 million), surpassing valuable blockchain projects similar to zkSync, Fantom, Scroll, Algorand, Filecoin, and ICP.
Working out AO and Arweave
AO uses a decentralized computational mannequin to enable parallel processing of applications, along with man made intelligence (AI) apps. It is in step with Arweave, which offers everlasting data storage solutions.
Hyper-parallel computing contains utilizing a mountainous option of processors simultaneously to operate a bunch of computations, dramatically increasing effectivity and plug. This makes AO in particular successfully-suited for duties that save apart a query to important computational resources, similar to gigantic-scale simulations, complex data analysis, and AI mannequin coaching.
In accordance with research on hyper-parallel computing, this attain leverages the vitality of disbursed processing to kind out issues that old school methods glean annoying to tackle successfully.
Arweave, on the assorted hand, makes use of a blockchain-love structure known as “blockweave” to store data permanently, guaranteeing that as soon as data is written, it'll no longer be altered or deleted.
This immutability of data has important implications for data integrity and security, making Arweave a stunning possibility for builders looking out for authentic, lengthy-term data storage solutions.
The Magnificent Launch of AO
A severe factor of AO’s introduction to the market modified into as soon as the enticing delivery of its token. In the context of blockchain and cryptocurrency, a supreme delivery manner that the mission’s tokens had been disbursed with none preferential treatment or pre-sale to insiders.
In assorted phrases, 100% of the minted tokens come in to the full neighborhood. This attain fosters a more decentralized and equitable distribution of tokens, encouraging broader participation and lowering the risk of market manipulation.
The AO network modified into as soon as launched in February, but the token issuance took allege on June 13. For AO, the enticing delivery engaging the issuance of 21 million tokens, with a halving agenda residing for every four years. This mechanism, similar to Bitcoinâs halving direction of, reduces the reward for mining contemporary blocks, thereby controlling the rate at which contemporary tokens are launched into circulation.
In accordance with a legend on cryptocurrency enticing launches, this no longer most keen helps retain watch over inflation but also introduces a deflationary factor over time, doubtlessly increasing the associated price of the tokens as their scarcity grows.
The Plot forward for AO and Hyper-Parallel Computing in DeFi
The snappy increase of AO highlights a important vogue within the blockchain and DeFi operate: the increasing save apart a query to for excessive-efficiency computing solutions amid the mature computational limitations of blockchains. As more projects and applications require large computational resources, the appeal of hyper-parallel computing platforms love AO will continue to upward thrust.
Arweave Market Knowledge
At the time of press 12:35 am UTC on Jun. 23, 2024, Arweave is ranked #49 by market cap and the associated price is down 2.46% over the final 24 hours. Arweave has a market capitalization of $1.8 billion with a 24-hour buying and selling volume of $51.43 million. Learn more about Arweave ›
Crypto Market Summary
At 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 volume of $35.03 billion. Bitcoin dominance is currently at 54.06%. Learn more referring to the crypto market ›
ð¥ Top Computing Crypto Sources
| # | Name | Impress | 24H % | 7D % | 30D % | Market Cap | 24H Vol | ATH | % ATH |
|---|---|---|---|---|---|---|---|---|---|
ICP Net Laptop
|
$8.27234 | -0.79% | -9.26% | -33.41% | $3.85B | $35.27M | $342.229 | -98% | |
RNDR Render
|
$7.38539 | -2.93% | -6.06% | -26.84% | $2.87B | $92.43M | $13.6297 | -46% | |
AR Arweave
|
$27.7630 | -0.76% | -0.91% | -32.41% | $1.82B | $45.2M | $97.3175 | -71% | |
EGLD MultiversX
|
$28.8769 | +1.23% | -12.41% | -26.33% | $782.45M | $12.29M | $541.042 | -95% | |
AKT Akash Network
|
$3.02769 | -1.97% | -11.74% | -42.73% | $730.97M | $7.55M | $10.3499 | -71% | |
MINA Mina
|
$0.55328 | -0.17% | -13.88% | -33.94% | $621.41M | $11.31M | $6.45649 | -91% | |
AIOZ AIOZ Network
|
$0.47390 | +2.29% | -19.61% | -43.45% | $522.43M | $4.47M | $1.17828 | -60% | |
GLM Golem
|
$0.38026 | +2.73% | -12.25% | -27.63% | $380.26M | $12.15M | $1.25353 | -70% | |
IO io.glean
|
$3.69953 | +0.13% | -31.23% | $351.46M | $120.66M | $6.44118 | -42% | ||
ANKR Ankr
|
$0.03059 | -1.37% | -11.26% | -33.34% | $305.88M | $5.9M | $0.22892 | -87% |
Source: CryptoSlate Computing Crypto Sector Knowledge
Monika Ghosh
In 2020, Monika immersed herself in crypto, affirming skepticism yet firmly believing blockchain might perchance address key issues love monetary disparity and transparency. A e book-lover, she's also a passionate meals enthusiast.
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CryptoSlate is a comprehensive and contextualized source for crypto data, insights, and data. Focusing on Bitcoin, macro, DeFi and AI.
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