io.net (IO) Price, Charts & Market Data

io.net (IO) serves multiple purposes within its ecosystem:

• Transaction Fees: The IO token is used to pay for transaction fees on the io.net network. This includes fees for executing smart contracts and transferring tokens.

• Staking: Users can stake IO tokens to participate in the network’s consensus mechanism, which typically involves proof-of-stake or a variant thereof. Staking helps secure the network and provides rewards to participants.

• Governance: IO token holders can participate in the governance of the io.net platform. This includes voting on proposals related to network upgrades, changes to protocols, and other key decisions.

• Incentives: The IO token is used to incentivise developers and users to participate in the network. This includes rewards for developing dApps, providing liquidity, or other contributions that enhance the platform's ecosystem.

• dApp Development: IO tokens can be used within dApps built on the io.net platform, serving as a medium of exchange or as part of the functionality of various applications.

io.net is specifically designed to support AI and machine learning applications by providing decentralised GPU infrastructure. Key AI-related features include:

• Decentralised AI Computing: Enables AI engineers to train and deploy machine learning models using distributed GPU clusters.
• Cost Efficiency: Aims to lower AI computing costs by aggregating GPU power from multiple sources.
• Scalability: Supports AI workloads that require extensive computational resources, such as deep learning and model inference.