Revolutionizing Cloud Computing: The Rise of DePINs, DeRENs, and Swan Chain's Impact
Summary:
This article discusses the rapid growth of cloud computing, dominated by few big players like AWS, Azure, and Google Cloud, and the potential risks associated with this market concentration. It explores the potential of Decentralized Physical Infrastructure (DePINs) and Decentralized Resource Networks (DeRENs) to minimize such risks and democratize the industry. The rise of AI models is also driving the expansion of DePINs and DeRENs, offering cheaper access to computational power. The article also highlights Swan Chain's contribution to the DePIN space by offering decentralized cloud computing resources. The platform's application of zero-knowledge (ZK) computing technology and its ability to complete ZK tasks at scale are also discussed. The piece ends with a note touching upon the expertise of the Cointelegraph research team.
Cloud computing has seen remarkable growth over the last few years with a predicted market value of $2.3 billion by 2032, a quadruple increase. However, this sphere is ruled by major names like AWS, Azure, and Google Cloud, meaning that a substantial breakdown of any of these companies could severely affect global corporate and individual users. The March 2024 Meta malfunction left a minimum of 600,000 people around the world powerless. Decentralized Physical Infrastructure (DePINs) and Decentralized Resource Networks (DeRENs) have a promising future in mitigating such risks. Besides, they can bolster data processing's security and openness, all while reducing operational and managerial expenses. A report from SwanChain and Cointelegraph Research discusses these crucial cloud computing market issues and highlights how DeRENs and DePINs can revolutionize and democratize the industry. You can download the full version of this free report here.
The rapid expansion of DeRENs and DePINs is catalyzed by the rise in the usage of advanced AI models. The AI market is projected to be worth an impressive $1.4 trillion by 2029. DeRENs and DePINs can assist AI developers by providing easier access to affordable computational power. For example, Flux is a platform that offers similar cloud computing services as Google Cloud, but at a considerably lower price ($5 vs $300). The reasons behind this price gap are elaborated in the report.
Regarding the DePIN arena, Swan Chain contributes by offering a decentralized cloud computing platform. Its services include providing computation power, storage, and bandwidth for applications such as AI applications, smart contracts, and decentralized services. The platform operates as an AI computing and storage auction market where resource requests are matched with providers. In Swan Chain's system, a user requiring specific hardware for a heavy-duty 3D animation task can submit a request, and providers with the necessary computation power can bid for the task. This approach reduces the cost and time in comparison to regular cloud services. SwanChain has presented data suggesting that running a model similar to Chat GPT on their infrastructure network can be 40-50% cheaper than using major providers like AWS.
For a full rundown of Swan Chain's contribution and other critical developments in the DePIN sphere, you can read the full report here.
Swan Chain's infrastructure is built on a decentralized network of hardware providers, who perform computation tasks for users on a payment basis in various blockchain tokens. Zero-knowledge (ZK) computing technology-based products are among the services on offer. Additionally, the platform completed almost 350,000 ZK computing tasks within two months of launch, proving its potential to deliver computational resources for ZK applications on a large scale.
Our report also delivers an overview of the robust growth of the DePIN industry and a comparative analysis of significant DePIN projects like Filecoin, Render Token, etc. These serve as real-world examples of how decentralized networks can enhance AI applications.
The research team at Cointelegraph comprises some of the most skilled professionals in the blockchain field who combine academic rigor and practical experience to provide insightful analysis. They include experts in finance, economics, and technology.
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Published At
6/24/2024 8:38:00 PM
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