UAE, April 18th, 2024, Chainwire
Mind Network and Io.net are partnering to take on centralized AI. Mind Network brings its advanced Fully Homomorphic Encryption (FHE) solution to Io.net's decentralized compute platform to help galvanize Io.net's product security and boost its ability to service the global GPU shortage. This partnership will significantly improve security and efficiency in crypto AI computations. Computational efficiency and data security are key challenges to be solved in crypto AI and this collaboration is among the first in the industry to tackle this problem, which will allow for greater security and scalability within AI.
“AI projects and systems are growing exponentially. AI compute demand is doubling roughly every 3.5 months. Mind Network is the first Fully Homomorphic Encryption-based general-purpose Restaking Rollup solution, bringing secure computation and consensus to the EigenLayer and Ethereum ecosystems. By adding FHE validators to a Proof of Intelligence (POI) consensus mechanism, Mind Network adds better capability and high security to AI systems in Web3.” - Christian Pusateri, Co-Founder of Mind Network
How does FHE secure Io.net?
FHE secures the network by ensuring that data can be processed and analyzed without ever exposing the raw data to potential threats or breaches, thereby maintaining confidentiality, integrity, and compliance. This encryption method opens up new possibilities for securely leveraging cloud resources and collaborative data analysis without compromising data privacy.
Mind Network’s adoption of Fully Homomorphic Encryption (FHE) technology promises to secure data across Io.Net’s extensive network, which encompasses over 110,000 nodes worldwide. This deployment upgrades privacy and security for data processing in a way never seen before in crypto ai.
Implementing FHE could potentially reduce the risk of data breaches, considering that data remains encrypted even during processing. This is significant in the context of the global average cost of a data breach reaching $4.45 million in 2023, according to IBM. (Link: https://www.ibm.com/reports/data-breach)
In terms of cost efficiency, this partnership is projected to lower operational expenses for AI computations, making cutting-edge AI technologies more accessible to startups, which traditionally face budget constraints, and also providing financial relief to established entities burdened by the high costs of AI development.
"io.net's decentralized compute network provides a flexible and accessible alternative to centralized cloud and this partnership with Mind Network enables AI/ML companies and other enterprises to adopt decentralized cloud more rapidly knowing that the fully homomorphic encryption provided by Mind Network is securing the data processed by io.net's GPUs and CPUs." Said Ahmad Shadid, CEO of io.net
About io.net
io.net is a decentralized physical infrastructure network (DePIN) that deploys and manages on-demand, decentralized GPU clusters from geo-distributed sources. Hundreds of thousands of GPUs are accessible today in IO Network, and this Internet of GPUs is specifically architected for low latency, high processing demand use cases like AI/ML ops and cloud gaming. io.net democratizes access to GPU compute capacity while reducing costs, expediting lead times, and expanding choice for engineers and businesses. Access compute capacity for a fraction of the cost or become a capacity supplier at io.net .
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About Mind Network
Mind Network is the first Fully Homomorphic Encryption (FHE) based general-purpose Restaking Rollup solution, bringing secure computation and consensus to the EigenLayer and Ethereum ecosystems. Mind Network’s solution enables verifiable decentralized compute over encrypted data, which solves significant challenges for use cases such as decentralized GPU networks processing AI workloads as well as Decentralized Physical Infrastructure Networks that manage sensitive user data, among others. Mind Network’s solution has found initial product-market-fit with projects such as AIOZ, Nimble AI, ChainLink, etc. adopting its solution, and has 600k+ active users and 3.2M+ transactions processed on its Testnet. Mind Network is backed by Binance Labs, Hashkey, Big Brain, Chainlink, Comma3, SevenX, and received an Ethereum grant to conduct research on practical implementations for FHE technology on Ethereum.
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Contact
Dan Edelstein
PR@marketacross.com
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