By
Bhushan Akolkar
March 6th, 2024
Leveraging sophisticated software, Ritual’s sovereign chain will support decentralized inference, model marketplaces, and heterogeneous proofs, along with modular tools to bridge AI to on-chain workloads.
io.net, one of the top-rising blockchain projects in the industry, has teamed up with Ritual, a decentralized finance (DeFi) protocol focused on artificial intelligence (AI).
According to a shared press release, the partnership will see both platforms leverage their resources, expertise, and capabilities to drive innovation and enhance accessibility in the global AI compute space.
io.net to Tap Ritual’s Product Stack to Attract More Users
io.net, which announced the launch of its decentralized Physical Infrastructure Network (DePIN) for AI last year, simplifies access to affordable Graphics Processing Units (GPUs) through its tools, while its io.net Cloud offers the infrastructure and architecture needed to deploy decentralized GPU clusters across various locations.
As for Ritual, the platform enables users to integrate AI models into their protocols, applications, or smart contracts with ease, requiring minimal coding effort.
The two companies have now partnered to boost their individual offerings and elevate standards in the global AI compute space. By coordinating their business teams, both platforms are committed to delivering more cost-efficient, accessible, and innovative solutions to users and AI/ML engineers worldwide.
The collaboration, expected to last long-term, will see io.net tap Ritual’s Infernet SDK, Infernet node client, and Ritual Chain components. The integration is expected to significantly boost GPU utilization on io.net Cloud, attracting a greater number of developers and opening up a wide array of new use cases and markets for the network.
“After we were introduced to Ritual, there was an instant connection, and the potential synergies between our projects became apparent. Ritual’s tooling, particularly their Infernet SDK and node client, aligns with our vision for enhancing GPU utilization and opening up new markets. We’re excited to see how the partnership will attract more developers and enable groundbreaking use cases in AI compute,” said Ahmad Shadid, founder of io.net.
Unlocking New Opportunities
While io.net plans to integrate Ritual’s tools, the company will focus on building a sovereign chain for AI. Leveraging sophisticated software, Ritual’s sovereign chain will support decentralized inference, model marketplaces, and heterogeneous proofs, along with modular tools to bridge AI to on-chain workloads.
The company’s goal is to ensure that AI is managed by people rather than corporations.
Ritual’s co-founder Akilesh Potti said the partnership with io.net is a significant milestone achievement for the firm. He further stated that the firm is positioned to unblock new opportunities for developers.
“Joining forces with io.net represents a significant milestone for Ritual. Their extensive infrastructure and global compute access capabilities, combined with our AI stack, create a powerful synergy. Together, we are poised to unlock new possibilities and efficiencies to benefit developers and users alike,” he said.