Over the past few years, the cloud computing sector has been steadily growing, with market capitalization expected to reach $2.3 billion by 2032. However, the dominance of major players like AWS, Azure, and Google Cloud poses a risk to companies and users worldwide in the event of a systemic failure. The outage experienced by Meta in March 2024 impacted over 600,000 individuals globally.
To address these challenges and enhance the security and transparency of data processing while reducing operational costs, DePINs (Decentralized Physical Infrastructure) and DeRENs (Decentralized Resource Networks) have emerged as viable solutions. A report by Cointelegraph Research and SwanChain delves into the critical issues facing the cloud computing market and how these decentralized technologies can revolutionize it.
The growth of DePINs and DeRENs is further fueled by the increasing demand for computationally intensive AI models, with the market projected to reach $1.4 trillion by 2029. These technologies provide affordable access to computing power, lowering the barrier for AI developers. For instance, Flux offers comparable cloud computing services to Google Cloud at a fraction of the cost, making it more accessible to a wider range of users. The reasons behind this cost reduction are detailed in the report.
SwanChain plays a pivotal role in the DePIN space by offering a decentralized cloud computing platform that provides resources such as computational power, storage, and bandwidth for AI applications and smart contracts. Users can post requests for resources on Swan Chain’s platform, which are then matched with providers offering the required services. This streamlined process reduces both time and costs compared to traditional cloud services. Running AI models on Swan Chain’s network can result in significant cost savings compared to major players like AWS.
For a comprehensive overview of Swan Chain’s offerings and other key developments in the DePIN ecosystem, the full report can be accessed here.
The ecosystem of Swan Chain is built on a decentralized network of hardware providers that execute computing tasks on behalf of users, accepting payments in various tokens across blockchains. Zero-knowledge (ZK) computing technology is also integrated into the platform, with nearly 350,000 ZK computing tasks processed within two months of its launch, demonstrating its scalability for ZK applications.
The report also highlights the rapid expansion of the DePIN sector and features a comparison of notable projects like Filecoin and Render Token as case studies of how decentralized networks can improve AI applications.
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