The rise of AI has led to the emergence of numerous projects in the DePin track, leveraging "AIxDePin" as a focal point. These projects aim to establish a decentralized server market through token incentives, creating a distributed physical infrastructure for AI applications. However, this "rental market + token incentive" model is just the beginning of exploration in this domain. Challenges persist in building a robust computing power market capable of implementation and fostering a sustainable business cycle, including the evaluation of device quality for computing resources.
Addressing this challenge is Fluence DAO, a decentralized serverless computing marketplace. Established in 2017 as a Web3 native computing platform, Fluence DAO received a $9 million Series A funding round in 2022, led by Multicoin Capital, with contributions from Tiger Global and Protocol Labs. On March 23, Fluence launched its token, $FLT, which surged by 64% in two days to reach $1.28. As a relatively young project, the performance of Fluence amid the new DePin trend remains to be seen.
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Alternative to Centralized Cloud Computing
Fluence stands out as a decentralized serverless platform and computing marketplace that operates on blockchain economics. It offers a global, permissionless, scalable, and secure alternative to centralized cloud computing platforms.
Source: Fluence Network
Developers leveraging Fluence can create and deploy applications across a network of computing providers, spanning from professional data centers to personal computers. These providers engage in competition based on pricing and performance. To receive payment and incentives, they must consistently demonstrate that they are effectively serving the application.
What sets Fluence apart from similar projects is its unique programming language Aqua and accompanying tools like Marine. These offerings provide developers with a concrete solution for their decentralized computing resource needs, encompassing everything from task publication to quality assessments.
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Fluence Network
The Fluence network operates entirely on the Aqua protocol, providing secure and distributed execution without centralized coordination. This protocol requires no deployment, and all requests and steps of execution within Aqua scripts are signed by participating nodes, ensuring audibility and verifiability. Given that all computations occur within Aqua, operations on Fluence are probabilistically verified on-chain. Providers must submit executions to receive rewards, or they risk being excluded. Through Marine, Fluence generates cryptographic proofs for each executed computational function. Providers furnish proof of computation, and customers only pay for verified and accurate work.
Source: Fluence Network
Developers with computing requirements compile business logic into Marine Wasm, manage computing functions, and package and deploy computation artifacts and requirements. The marketplace then matches developer quotations. Fluence serves various applications found in the cloud, including web applications, distributed backends, communication software, and Internet of Things solutions. It also accommodates decentralized applications focused on user data privacy, composability, and resilience. These encompass P2P applications, decentralized protocols, community governance tools, and blockchain infrastructure components.
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Fluence Marketplace
The Fluence platform hosts an on-chain marketplace powered by the InterPlanetary Consensus (IPC) blockchain framework, facilitating the matching of compute providers with customers seeking compute resources. This marketplace operates on a fully permissionless basis, enabling any provider to participate and advertise their available compute capacity.
Compute providers on the Fluence marketplace | Source: Fluence Network
Through Proof of Capacity, the marketplace ensures the availability of advertised resources and proportionally rewards providers. Customers have the flexibility to choose providers based on price and other criteria or to publish work with specified maximum prices for provider selection. Deals are created on-chain to document financial and technical details for each application deployment.
Compute provider resources | Source: Fluence Network
Built on Filecoin's mainnet, Fluence's IPC subnet utilizes Filecoin's smart storage capabilities, enabling compute operations on data stored within the Filecoin network. The marketplace guarantees swift and cost-effective transactions to facilitate the rental of compute resources at any scale, allowing the platform to accommodate a significant increase in verified compute demand as adoption expands. Additionally, IPC equips Fluence with advanced cryptographic proof verification capabilities, including the verification of zero-knowledge proofs (ZKPs) such as Proof of Capacity.
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$FLT Tokenomic
Fluence unveiled the tokenomics of its project on March 23. The total supply of FLT tokens stands at 1,000,000,000, with an initial circulating supply of 5%. This portion is earmarked for the Developer Rewards program, which commenced on February 27. Tokens claimed under this program are subject to a two-month lockup period and will begin to be released on April 27.
Source: Fluence Network
Furthermore, rewards designated for storage providers will be disbursed after the mainnet launch on March 20. These rewards are contingent on the amount of computation contributed to the network and will be locked for three months. Approximately 45% of the total FLT supply will be unlocked within 24 months from the token issuance date.
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Disclaimer: This response provides information based on available data and general analysis. It does not constitute financial advice. Always perform your own due diligence and consult with a professional financial advisor before making investment decisions.