Ad
News
Arweave’s AO sees $260 million pre-bridged in 4 days Arweave’s AO sees $260 million pre-bridged in 4 days

Arweave’s AO sees $260 million pre-bridged in 4 days

The Arweave-based hyper-parallel computer issued its token in a fair launch less than 10 days ago

Arweave’s AO sees $260 million pre-bridged in 4 days

Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.

AO, a hyper-parallel computer, saw an influx of $260 million stETH pre-bridged to its platform, propelling it to become the 28th largest decentralized finance (DeFi) economy over the past four days, Arweave and AO founder Sam Williams noted in a post on X June 22.

According to Williams, AO’s Total Value Locked (TVL) now matches that of Cardano ($209.43 million), surpassing notable blockchain projects such as zkSync, Fantom, Scroll, Algorand, Filecoin, and ICP.

Understanding AO and Arweave

AO uses a decentralized computational model to enable parallel processing of applications, including artificial intelligence (AI) apps. It is based on Arweave, which provides permanent data storage solutions.

Hyper-parallel computing involves utilizing a vast number of processors simultaneously to perform numerous computations, dramatically increasing efficiency and speed. This makes AO particularly well-suited for tasks that demand significant computational resources, such as large-scale simulations, complex data analysis, and AI model training.

According to research on hyper-parallel computing, this method leverages the power of distributed processing to tackle problems that traditional systems find challenging to handle efficiently.

Arweave, on the other hand, utilizes a blockchain-like structure called “blockweave” to store data permanently, ensuring that once data is written, it cannot be altered or deleted.

This immutability of data has significant implications for data integrity and security, making Arweave an attractive option for developers seeking reliable, long-term data storage solutions.

The Fair Launch of AO

A critical aspect of AO’s introduction to the market was the fair launch of its token. In the context of blockchain and cryptocurrency, a fair launch means that the project’s tokens were distributed without any preferential treatment or pre-sale to insiders.

In other words, 100% of the minted tokens are available to the entire community. This approach fosters a more decentralized and equitable distribution of tokens, encouraging broader participation and reducing the risk of market manipulation.

The AO network was launched in February, but the token issuance took place on June 13. For AO, the fair launch involved the issuance of 21 million tokens, with a halving schedule set for every four years. This mechanism, similar to Bitcoinโ€™s halving process, reduces the reward for mining new blocks, thereby controlling the rate at which new tokens are introduced into circulation.

According to a report on cryptocurrency fair launches, this not only helps control inflation but also introduces a deflationary aspect over time, potentially increasing the value of the tokens as their scarcity grows.

The Future of AO and Hyper-Parallel Computing in DeFi

The rapid growth of AO highlights a significant trend in the blockchain and DeFi space: the increasing demand for high-performance computing solutions amid the conventional computational limitations of blockchains. As more projects and applications require substantial computational resources, the appeal of hyper-parallel computing platforms like AO will continue to rise.

Arweave Market Data

At the time of press 12:35 am UTC on Jun. 23, 2024, Arweave is ranked #49 by market cap and the price is down 2.46% over the past 24 hours. Arweave has a market capitalization of $1.8 billion with a 24-hour trading volume of $51.43 million. Learn more about Arweave ›

Arweave

12:35 am UTC on Jun. 23, 2024

$27.40

-2.46%
Crypto Market Summary

At the time of press 12:35 am UTC on Jun. 23, 2024, the total crypto market is valued at at $2.34 trillion with a 24-hour volume of $35.03 billion. Bitcoin dominance is currently at 54.06%. Learn more about the crypto market ›

๐Ÿ–ฅ Top Computing Crypto Assets

View All
#NamePrice24H %7D %30D %Market Cap24H VolATH% ATH
ICP Internet Computer
$9.93821 -0.59% +31.77% +21.2% $4.64B $136.81M $342.229 -97%
RNDR Render
$6.48517 -3.06% +0.21% -18.04% $2.55B $174.94M $13.6297 -52%
AR Arweave
$30.5649 -2.64% +30.15% +10.01% $2.01B $96.48M $97.3175 -69%
EGLD MultiversX
$37.9973 +2.96% +4.3% +25.76% $1.03B $27.68M $541.042 -93%
AKT Akash Network
$3.53128 -4.21% +0.19% +10.11% $864.28M $16.1M $10.3499 -66%
MINA Mina
$0.54681 -2.73% +9.63% -3.34% $619.8M $22.21M $6.45649 -92%
AIOZ AIOZ Network
$0.48231 -5.52% +13.58% -7.05% $534.52M $6.33M $1.17828 -59%
GLM Golem
$0.35064 +0.07% +10.66% -7.35% $350.64M $14.2M $1.25353 -72%
ANKR Ankr
$0.03094 -1.28% +11.79% +0.41% $309.39M $11.34M $0.22892 -86%
ELF aelf
$0.39516 -2.31% +2.97% +0.98% $289.16M $18.13M $2.76568 -86%

Source: CryptoSlate Computing Crypto Sector Data