What Is Aioz Network (AIOZ): How It Works and Its History
2024-12-02
Bittime - What is AIOZ Network (AIOZ)? This article will discuss this revolutionary network for decentralized content delivery. Curious about this network? Continue reading the review in this article.
For your information, the AIOZ coin has been experiencing a bullish trend this week. In the last 24 years, this coin managed to reach the IDR 17,800 level with an increase of around 2.7%. Meanwhile, in the last 7 days, this coin managed to increase by around 36%.
What is AIOZ Network (AIOZ)?
Source: AIOZ Network
AIOZ Network is a Web3-based media infrastructure that uses the Cosmos blockchain and is compatible with the Ethereum Virtual Machine (EVM). Known as Layer-1 blockchain, AIOZ focuses on faster, more secure and decentralized content delivery.
This platform utilizes the network decentralized content delivery network (dCDN) which enables the delivery of multimedia content with high efficiency. Users running AIOZ node applications can share resources such as storage and bandwidth, which are then rewarded with AIOZ tokens.
This allows the internet to become more decentralized, similar to human-powered internet.
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How Does AIOZ Network (AIOZ) Work?
Source: AIOZ Network
AIOZ Network works by leveraging two main components: blockchain and distributed storage. The blockchain layer ensures security, transparency, and governance, while the distributed storage system ensures efficient delivery of content.
Users running AIOZ nodes can store and transmit data directly, reducing dependence on expensive and slow central servers. In this system, there are three main types of nodes:
1. Content Providers (CPs): Users who provide digital content to the network.
2. Delivery Nodes (DNs): Nodes that store and distribute content to users.
3. Edge Nodes (ENs): End users who access and enjoy distributed content.
The content delivery process is very fast because the files are taken from the nearest node, not from a central server located far away. Thus, AIOZ Network can speed up the content access process, reducing costs and time required for data transmission.
What is AIOZ Network (AIOZ) Token?
The AIOZ token is a tool used for transactions within the AIOZ Network ecosystem. This token functions as a transaction settlement mechanism, as well as an incentive for users who participate in the network.
With a total supply of 1 billion AIOZ tokens, 993 million tokens are in circulation (as of December 1, 2023). These tokens are also used in staking programs, where users who lock their tokens will receive rewards in the form of annual percentage yield (APY) which varies, depending on network inflation parameters.
Apart from that, AIOZ tokens are also given to Delivery Nodes as a form of appreciation for their contribution in delivering content to users.
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History of AIOZ Network
AIOZ Network was founded in 2021 by Erman Tjiputra, a blockchain developer based in Singapore, who also serves as the company's CEO.
AIOZ's core team consists of experienced professionals in the fields of blockchain, technology and artificial intelligence.
The team worked hard to create a platform that not only simplifies the delivery of digital content, but also makes it more affordable and efficient for its users around the world.
Main Features of AIOZ Network
AIOZ Network has a number of features that differentiate it from other blockchain platforms. Some of the main features to pay attention to are:
WASM Smart Contracts
AIOZ supports WebAssembly (WASM) for smart contracts. This technology offers more speed and flexibility compared to the Solidity language used in Ethereum.
Developers can write smart contracts using various programming languages such as C++, Rust, and Typescript, which provides more freedom in creating applications.
Node-Based Service
In contrast to traditional Content Delivery Networks (CDNs) that rely on central servers, AIOZ relies on a decentralized network of nodes.
This allows content to be stored and distributed directly between users, which increases efficiency and reduces costs.
Leverage Idle PCs
AIOZ optimizes utilization of idle hardware, such as personal PCs, to run nodes.
Users who contribute their computer resources to the network will be rewarded with AIOZ tokens.
Latest AIOZ Network (AIOZ) Token Price Movements
The current AIOZ token price is around $1.19 USD (Rp. 18,951) per token. With daily trading volume reaching $167 million USD (Rp. 2.66 trillion), AIOZ Network has experienced a price increase of 2.7% in the last 24 hours.
At the moment, AIOZ Network is ranked 88th on CoinMarketCap, with a market capitalization of around $1.36 billion USD (Rp. 21.7 trillion).
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Conclusion
AIOZ Network is a very interesting innovation in the world of blockchain. Primarily, this network is engaged in digital content delivery.
By leveraging decentralized technology, AIOZ not only improves the speed and quality of content delivery but also creates a fairer and more transparent ecosystem for content creators and users.
The AIOZ token, which functions as an incentive in the network, provides the opportunity for anyone who wants to participate in this ecosystem to earn passive income through their participation in running nodes.
With all its advantages, AIOZ Network can be part of a more decentralized and efficient internet future.
FAQ About AIOZ
What is AIOZ Network?
AIOZ Network is a distributed CDN built on its own Blockchain. In AIOZ Network, users share redundant memory, storage, and bandwidth resources. This is to create a large CDN capable of powering streaming platforms anywhere in the world.
What is AIOZ?
The AIOZ Network is a comprehensive infrastructure solution for web3 storage, decentralized AI computing, live streaming, and video on demand (VOD), powered by a community of nodes.
Is AIOZ network AI?
AIOZ Network is DePIN for Web3 AI, Storage and Streaming. AIOZ empowers a faster, more secure and decentralized future.
Powered by the global DePIN network, AIOZ rewards you for sharing computing resources to store, transcode, and stream digital media content and supports decentralized AI computing.
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Reference:
Techopedia, article Techopedia, accessed December 2, 2024
coinmarketcap, AIOZ Chart Coinmarketcap, accessed December 2, 2024
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