Latest DePIN AI News

The recent Theta Hackathon has concluded successfully, showcasing an impressive array of projects focused on AI, video, and gaming. This event highlighted the contributions of talented developers and teams who are dedicated to building a decentralized future for media and entertainment. Among the standout projects, TPLAY emerged as the winner of the Video/Rendering track. TPLAY is a revolutionary social network designed for sharing videos on the Theta Network, allowing users to upload or create AI-generated videos, engage in contests, and win exciting prizes. This platform not only transforms video content creation and sharing but also offers a unique blend of technology and creativity. TPLAY is more than just a video-sharing platform; it is a comprehensive ecosystem that empowers users to control their content. Users can securely upload and share videos, utilize decentralized storage solutions, and leverage advanced AI tools for video creation. The platform encourages user engagement through weekly contests where participants can win prizes based on audience interaction. Additionally, TPLAY offers interactive features such as liking, commenting, and sharing videos, along with real-time updates on contest standings and video processing, enhancing community engagement. The technical architecture of TPLAY integrates modern web technologies with the Theta Network blockchain, facilitating user interactions through decentralized wallets. The platform processes video uploads and manages blockchain interactions via smart contracts, ensuring secure token transactions and contest management. Future enhancements for TPLAY include the introduction of advanced AI tools for video editing, the establishment of a DAO for user-driven feature proposals, and a transition to a fully decentralized storage solution. Congratulations to the winning team for their innovative contributions to the Theta Ecosystem!

Coinbase has announced that it will be adding support for the artificial intelligence-focused altcoin, io.net (IO), on the Solana (SOL) network. This addition marks a significant step for the decentralized physical infrastructure network (DePIN), which aims to leverage idle graphics processing units (GPUs) for machine learning (ML) and AI projects. According to Coinbase, trading for IO will commence on or after 9 a.m. Pacific Time on October 9th, 2024, contingent upon meeting liquidity conditions. The trading will be initiated in phases, and it is important to note that support for IO may be limited in certain jurisdictions. At the time of writing, IO is trading at $1.77, reflecting a decline of over 3% in the past 24 hours. With a market capitalization of $168 million, io.net ranks as the 295th-largest cryptocurrency project. The project aims to democratize access to computing power by aggregating over one million GPUs from independent data centers, crypto miners, and other crypto projects like Filecoin and Render. This initiative is particularly timely given the increasing demand for GPU compute resources driven by the rapid growth of AI and ML workloads. The io.net project emphasizes its mission to make computing more scalable, accessible, and efficient. Current major cloud providers possess approximately 10-15 exaFLOPS of GPU compute capacity. However, the anticipated demand for GPU compute in the cloud could surge to between 20-25 exaFLOPS, reflecting the escalating requirements for AI/ML model training and inferencing. As the cryptocurrency market continues to evolve, the integration of AI-focused projects like io.net could play a pivotal role in shaping the future of decentralized computing.

VanEck, a prominent asset management company, has recently announced the launch of a new venture capital fund named VanEck Ventures, with an impressive capital of $30 million. This fund is specifically aimed at supporting the growth and development of the cryptocurrency and artificial intelligence (AI) industries. VanEck Ventures plans to focus its investments on early-stage startups within these sectors, indicating a strong belief in the potential of innovative technologies that are shaping the future of finance and technology. The move by VanEck comes at a time when both the crypto and AI industries are experiencing significant growth and interest from investors. By establishing this fund, VanEck not only reinforces its commitment to these emerging markets but also positions itself as a key player in the evolving landscape of digital assets and AI solutions. This strategic investment approach may lead to the identification of groundbreaking projects that could redefine the boundaries of technology and finance. In light of these developments, ChainCatcher emphasizes the importance of viewing blockchain technology with a rational perspective. Investors are reminded to enhance their risk awareness and exercise caution regarding various virtual token issuances and speculative activities. The content shared by ChainCatcher serves as a reminder that all information provided is market-related and should not be construed as investment advice, urging readers to conduct their own research before making financial decisions.

In recent developments, the demand for local large language models (LLMs) has surged as businesses and developers prioritize data privacy and control. Running LLMs locally allows users to keep their data on their devices, mitigating concerns associated with sending sensitive information to external servers. This article highlights six powerful tools that enable users to run LLMs offline, ensuring enhanced privacy and customization. These tools not only provide a secure environment for data processing but also offer flexibility in terms of model configuration and usage without incurring costs associated with cloud services. Among the notable tools is **GPT4ALL**, which is designed with privacy at its core. It supports a wide range of consumer hardware and allows users to run multiple LLMs without an internet connection. Key features include extensive model libraries, local document integration, and customizable settings for various parameters. Additionally, **Ollama** stands out for its ability to create custom chatbots locally, offering flexible model customization and seamless integration with applications. Both tools cater to developers looking for robust, privacy-focused solutions while maintaining ease of use and accessibility. Another noteworthy tool is **LLaMa.cpp**, known for its minimal setup and high performance across different hardware. It supports a variety of popular models and integrates well with open-source AI tools. **LM Studio** and **Jan** also provide user-friendly interfaces for running LLMs locally, with features that allow for customizable model parameters and offline functionality. Lastly, **Llamafile** offers a straightforward way to run LLMs through a single executable file, enhancing accessibility across various architectures. Together, these tools exemplify the growing trend of local LLM usage, providing users with the ability to maintain privacy while leveraging advanced AI capabilities.

StealthEX recently conducted an AMA session on X Spaces in collaboration with IoTeX, and we’re excited to share the highlights with you. Recap of Exclusive AMA: StealthEX and IoTeX Host: StealthEX – instant cryptocurrency exchange. Guest: Giuseppe, DevRel lead at IoTeX. Questions from Twitter: Q1: How will IoTeX’s infrastructure specifically contribute to the advancement of AI? What role does real-time data play in training those models, and how can it impact the accuracy and capabilities of AI agents? Giuseppe: IoTeX’s infrastructure plays a key role in advancing AI by leveraging the DePIN model, where individuals can contribute data or GPU power for AI model training. With our infrastructure, people can provide real-time data, which is essential for improving the accuracy of AI models. What makes IoTeX unique is that everything is verifiable on our Layer 1 blockchain, meaning that anyone can check the contributions and computations, ensuring that AI models are built on trusted data sources. This adds transparency and boosts the reliability of AI systems. Q2: As IoTeX transitions into version 2.0, what new tools, protocols, or frameworks are being introduced to enhance the experience of developers building DApps on DePIN infrastructure, and how will these changes impact overall ease of use and performance for end users? Giuseppe: IoTeX 2.0 brings all the individual components we’ve been building together into a cohesive infrastructure. This includes tools like wallets, bridges, and decentralized off-chain computation layers. The key here is modularity: developers can choose specific components that suit their project needs, making their applications easier to build and more scalable. For end users, this translates to better performance and a smoother experience since developers don’t have to reinvent the wheel and can focus on creating useful, composable DApps. Q3: With the launch of a web wallet, version 2 was highlighted as an all-in-one DePIN asset manager. What unique features does it offer that position it above other wallets in the DePIN space? Giuseppe: Our web wallet is unique because it’s specifically designed for DePIN assets. It serves as a hub where new DePIN projects can list their tokens, and users can trade these tokens across multiple chains like Ethereum, Binance Smart Chain, Polygon, and now Solana. We’ve built the wallet to be more than just a place for storage – it’s an entry point for DePIN projects and users to discover, interact with, and cross-trade assets. Additionally, we’re expanding its cross-chain capabilities, making it easier for people to interact with multiple ecosystems within the DePIN space. Q4: Can you explain the features of IoTube as a cross-chain bridge facilitating asset exchanges between IoTeX and major Layer 1 and Layer 2 blockchains? How does IoTube enhance interoperability and facilitate seamless asset transfers across different blockchain networks? Giuseppe: IoTube is our decentralized bridge that connects IoTeX with major Layer 1 and Layer 2 blockchains like Ethereum, Binance Smart Chain, Polygon, and now Solana. Its main feature is enabling seamless cross-chain asset transfers, which is critical for DePIN projects that want to expand their user base across multiple ecosystems. By bridging these chains, we ensure that projects aren’t confined to a single ecosystem but can interact with users and liquidity on other chains. We recently announced our collaboration with Solana, which is a huge step toward making IoTube one of the most interoperable bridges in the DePIN space. Q5: Can you elaborate more on the Halo Grants initiative and its tailored support for DePIN projects at various stages of development? How do these grants foster innovation, provide professional guidance, and drive forward projects within the IoTeX network? Giuseppe: The Halo Grants initiative has been around for a while, providing support for smaller DePIN projects that are just getting started. It’s perfect for teams of one to three people who have great ideas but need resources to get started. We also offer more support for larger projects through our Accelerator program, which helps teams scale up by offering marketing, technical, and community-building assistance. So far, we’ve seen a lot of success with projects launching their devices and tokens, and many are now preparing for their next rounds of funding. The goal of both Halo Grants and the Accelerator is to foster innovation and help these projects grow within our ecosystem. Q6: With the introduction of decentralized governance in IoTeX 2.0, how does the platform balance governance efficiency with decentralization, and what mechanisms are in place to prevent centralization of power within the ecosystem? Giuseppe: Decentralized governance has always been at the core of IoTeX. With IoTeX 2.0, we’ve taken this further by introducing a new DAO structure—what we’re calling the “Marshall DAO.” This DAO is designed to allocate funds and resources to DePIN projects that the community believes are promising. Governance efficiency is maintained through proposals and community voting, ensuring that power isn’t concentrated in a few hands. By enabling the community to participate in decision-making, we prevent centralization and ensure that the platform remains transparent and fair. Live Questions Q1: Can you explain how the modular architecture of IoTeX 2.0 supports the scalability and specialized needs of DePIN projects? How does it compare to other existing solutions in the market? Giuseppe: The modular architecture of IoTeX 2.0 allows projects to select specific components they need, like identity protocols or off-chain computation, which increases scalability. This flexibility is key to supporting projects with unique requirements while enabling composability—where different projects using the same modules can easily collaborate. Compared to other solutions, IoTeX’s modular approach offers greater interoperability between projects, which is crucial for scalability and growth. The modularity empowers developers to build on top of other DePIN projects and make use of shared resources, something that many other ecosystems don’t offer. Q2: Staking programs are very important for any project. Can I stake your token? Do you have any plans for a staking program? Giuseppe: Yes, staking has been available since we launched IoTeX in 2019, and it operates on a delegated proof-of-stake (DPoS) model. You can stake your tokens via stake.iotex.io and either become a delegate or vote for other delegates. We recently introduced liquid staking and passed a proposal that allows staking to be represented as NFTs, making it even more flexible. We currently have between 110 and 120 delegates, with the top 36 responsible for block production. It’s a great way to contribute to the ecosystem and earn rewards while securing the network. Q3: What have been the challenges this project has faced since 2019 after launch? Giuseppe: We’ve faced numerous challenges over the years. One major challenge has been educating people about the value of combining IoT and blockchain. In the early days, it was difficult to explain our vision for DePIN, and getting people to see the benefits of decentralized machine networks took time. On the technical side, building entirely new protocols like off-chain computation layers was also a challenge. There weren’t many existing templates to follow, so we had to push boundaries and innovate. Persistence and constant iteration have been our main strategies for overcoming these challenges. Q4: After all these challenges, what has been your strategy for overcoming them and moving the project forward? Giuseppe: The strategy depends on the challenge. For product-related challenges, we focus on market fit and user research, iterating as needed until we get it right. For narrative challenges, where people don’t yet see the value of what we’re building, we keep pushing forward with our vision until the market catches up. Each challenge has its own unique strategy, but persistence and the willingness to adapt are key. StealthEX: Thank you all for joining today! Recap of Exclusive AMA: StealthEX and IoTeX You can swap IoTeX (IOTX) crypto on StealthEX exchange platform. How to Buy IoTeX Coin? Just go to StealthEX and follow these easy steps: Choose the pair and the amount for your exchange. For example, ETH to IOTX coin. Press the “Start exchange” button. Provide the recipient address to which the coins will be transferred. Move your cryptocurrency for the exchange. Receive your coins! Follow us on Medium, Twitter, Telegram, YouTube, and Publish0x to stay updated about the latest news on StealthEX.io and the rest of the crypto world.

Black Forest Labs has recently launched Flux 1.1 [Pro], an advanced AI image generation model that follows the original Flux family, which includes Flux 1 Pro, Flux 1 Dev, and Flux Schnell. The new model showcases significant improvements in text generation capabilities, prompt adherence, and overall image quality. Notably, Flux 1.1 Pro has achieved the highest Elo score in the Artificial Analysis image arena, outperforming all other text-to-image models while maintaining impressive generation speeds. This model is priced competitively at $0.04 per image, making it a strong alternative to other paid services like MidJourney and Ideogram, which are notably slower and more expensive. Despite its advantages, Flux 1.1 Pro is a closed-source model, limiting users to access it through platforms like Together AI, Replicate, and Freepik. This means users cannot run it locally or customize it as they can with its open-source counterparts. However, some platforms offer free credits for initial generations, with Freepik being highlighted for its Mystic workflow that enhances image quality. While there are no announcements for an open-source version of Flux 1.1, Black Forest Labs appears to be concentrating on refining its offerings for image and video creators. In hands-on testing, Flux 1.1 Pro demonstrated satisfactory results, producing realistic images with improved prompt adherence compared to its predecessor. The model excels in generating detailed and aesthetically pleasing images, making it suitable for various artistic tasks. While it may not represent a generational leap, the enhancements in realism, spatial awareness, and overall consistency make it a compelling choice for users seeking quality AI-generated images. Overall, Flux 1.1 Pro stands out as a cost-effective and efficient option in the competitive landscape of AI image generation.

Network3, an AI Layer2 platform for global artificial intelligence developers, recently unveiled its latest innovation at the R3al World Summit in Singapore. The new Local Large Language Model (LLM) feature is designed to enhance the efficiency and performance of Edge AI technology. Edge AI involves deploying AI models directly on local devices like smartphones, bringing data processing closer to the source to improve application performance and reduce latency. The global Edge AI market is projected to exceed $269 billion in the next eight years, highlighting the growing significance of this technology. Transforming Smart Devices into AI Training Assets With a focus on making Web3 & AI technologies accessible, Network3 integrates DePIN with AI to enable IoT devices to train small AI models. By leveraging idle resources on smart devices, individuals can participate in AI training and earn rewards. The introduction of the local LLM feature aims to optimize smart devices' processing capabilities during idle times, reducing reliance on cloud computing, cutting down bandwidth usage, and enhancing data security and privacy. Network3, with over 320,000 active nodes globally, recently launched the N3 Edge V1 mining device, offering dual mining capabilities for IoTeX and Network3 tokens. Offering AI Chat Services on Mobile Devices Network3's latest update allows users to access AI chat services on their mobile devices without the need for expensive cloud infrastructure. A test version of the update will be available for download on the official website soon, providing users with the opportunity to interact with the model, earn tokens, and personalize their AI experience.

Synesis Foundation, known for developing Solana’s first AI data pre-processing solution, has teamed up with AirMoney DEGN to introduce consumer hardware focused on DePIN. The collaboration aims to enhance the crypto experience beyond traditional wallets by offering features like web3 protocol interaction, cryptocurrency trading, and play-to-earn games through the AirMoney DEGN device. This partnership seeks to boost the popularity of crypto hardware within the DePIN ecosystem. **Synesis Milestone and Future Developments** Synesis recently achieved a significant milestone by completing over 1.5 million AI data transactions on Solana. CEO Isaac Bang expressed excitement about decentralizing data sourcing and validation for AI solutions. The collaboration with AirMoney DEGN will allow users to earn crypto for supporting the DePIN economy through data validation. Additionally, Synesis has developed a new Reinforcement Learning with Human Feedback (RLHF) system, offering rewards for verifying data with AirMoney DEGN devices.

At the recent Token 2049 and Solana Breakpoint conferences, analysts noted the dominance of both AI and DePIN as the most promising use cases for blockchain technology. These conferences delved into the exploration of promising protocols and rising trends within these sectors. Furthermore, the surprise of continued institutional adoption of Solana was a key point of discussion. This unexpected trend showcases the growing interest and trust from traditional financial institutions towards Solana's blockchain ecosystem.

Altcoin Render (RENDER) has surged 31% over the past week, breaking above a downward trendline. Despite this bullish momentum, market activity suggests a potential consolidation phase as 53% of holders are currently profitable. The balance between sellers and buyers indicates a possible dip before the next move, supported by indicators like social volume and large transactions. **Optimistic Signs for RENDER's Future** Render has experienced a significant increase in social volume, attracting retail players and enhancing overall sentiment. Additionally, large transactions have seen a notable uptick, signaling renewed optimism from institutional players. These positive trends could further support RENDER's recovery and push the current rally. **BTC Dominance Decline Signals Altcoin Season** As Bitcoin dominance decreases, altcoins like Render stand to benefit. Analysts suggest that the declining Bitcoin dominance could usher in an alt season, where alternative tokens see substantial gains. The Altcoin Season Index climbing to 33 and the stablecoin supply ratio's decline both point towards a strengthening momentum for altcoins.