AIOZ Network Review 2024: The Swiss Army Knife of Web3

The current digital landscape is characterized by a surge in demand for seamless content delivery, secure storage solutions, and advanced AI computation for a generation that's increasingly always online.

Our insatiable appetite for digital content results in a few challenges, however.

Traditional storage and delivery systems are struggling to keep up, facing issues like scalability and reliability. While centralized cloud services offer convenience, they raise concerns about data security and sovereignty.

The growing need for AI applications also poses challenges, with concerns about data privacy and monopolization in centralized AI resources. The video streaming market is booming with new tech like AR, VR, and social media platforms, but traditional delivery methods are struggling to meet the demand for top-notch streaming quality.

AIOZ Network aims to tackle all of these challenges.

This AIOZ Network review delves into various aspects of this platform, covering its technology, use cases, core components, and its native AIOZ token.

AIOZ Network Review Summary

AIOZ Network addresses the multifaceted challenges of Web3 storage, decentralized AI computation, and live streaming and video-on-demand delivery by harnessing the power of decentralized networks. 

The Key Features of AIOZ Network Are:

• Decentralized Storage
• Scalable Content Delivery
• AI Computation Capabilities
• Multi-Chain Compatibility
• Diverse Use Cases

Understanding Web3 and Its Significance

Web3 is not just a buzzword, but a new way of experiencing the internet.

Web 2.0 is like a city where you can interact with others and share experiences. But Web3 is a whole another level — like a vast digital playground where everyone has a stake and can shape the landscape together.

So, what makes Web3 so special? One word: decentralization.

Instead of relying on mega-corporations to control everything, Web3 is powered by blockchain technology, a digital ledger that records transactions securely and transparently. Think of blockchain as the engine that powers Web3. It ensures that transactions are secure, transparent, and tamper-proof, making it possible for people to trust each other and collaborate without needing to rely on third parties.

Let's take non-fungible tokens (NFTs) as an example. With Web3, artists can create and sell digital artwork directly to collectors without needing a middleman. User empowerment is another area Web3 focuses on — you own your data and control how it's used.

Furthermore, Web3 fosters innovation and interoperability through open protocols and decentralized applications (DApps). These dApps leverage blockchain technology to create new economic models, digital marketplaces, and decentralized ecosystems, disrupting traditional industries and empowering users with greater autonomy and freedom.

In a nutshell, Web3 is all about giving people more control over their online lives and fostering a sense of community and collaboration.

Before we go any further, you may enjoy reading the following articles:

• Top Storage Networks on Blockchain
• Best AI Crypto Projects
• The Convergence of Blockchain and Artificial Intelligence

What is AIOZ Network?

As the world transitions towards Web3, which is characterized by decentralization and democratization of digital resources, AIOZ Network offers a decentralized infrastructure solution that addresses the needs of modern-day content creators, businesses, and consumers.

By leveraging the principles of blockchain technology, AIOZ Network offers a framework for Web3 storage, enabling users to securely store and access their data without reliance on centralized entities. AIOZ Network extends its capabilities beyond storage solutions, offering decentralized AI computation services that empower developers and businesses to harness the full potential of artificial intelligence.

Then there's live streaming and video on demand, where traditional delivery models often struggle to meet the growing demands for high-quality content and seamless user experiences. By leveraging its decentralized infrastructure, AIOZ Network enables efficient content delivery, ensuring that users can enjoy uninterrupted streaming experiences across all of their devices.

The Core Components of AIOZ Network

These are the building blocks that power AIOZ Network's decentralized infrastructure and enable a wide range of applications and services.

Decentralized Storage

AIOZ Web3 Storage (W3S) revolutionizes data storage for Web3 DApps by offering a versatile object storage infrastructure with S3 compatibility. Leveraging the power of AIOZ Network's P2P nodes and blockchain technology, W3S ensures distributed, secure, and scalable cloud object storage at an affordable cost.

Here are some of the key features:

• S3 compatibility allows integration with AWS S3
• No single point of failure ensures high availability with distributed data copies
• Fast access guarantees swift retrieval of data with minimal delays
• Scalability adapts to growing storage needs continuously
• Enhanced privacy with advanced encryption techniques and full user ownership of data access
• Built-in CDN leverages peer-to-peer nodes for global data delivery without extra fees
• Transparent pricing with a straightforward pay-as-you-go model

AIOZ Web3 Storage caters to a wide range of industries and applications:

• Media and entertainment companies can leverage W3S to securely store their collections of video, audio, and image content
• E-commerce platforms have the opportunity to ensure high availability and swift delivery of product media
• DApps can utilize W3S for dependable storage of user-generated content within decentralized ecosystems 
• Blockchain projects have the option to employ W3S for decentralized and immutable storage solutions
• With W3S, healthcare and medical data companies can maintain data privacy and compliance with healthcare regulations
• Data-driven startups can benefit from W3S's scalability and cost-effectiveness for managing large datasets
• Cloud service providers can integrate W3S into their offerings, diversifying their storage options and improving data availability for their clients.

AIOZ W3S boasts over 50,000 active edge nodes, slashing bandwidth costs by 96% and achieving an average download speed of 15MB/s. Monthly pricing includes $17 per TB for storage and $5 per TB for delivery bandwidth.

AIOZ W3IPFS

AIOZ Web3 IPFS (W3IPFS) is a solution designed to enhance the functionality of the InterPlanetary File System (IPFS) by providing features aimed at addressing common challenges faced by users. W3IPFS offers high-speed, secure, and scalable file storage, along with various features such as unlimited pinned files, dedicated resources, and smart caching.

Key features of W3IPFS include integration with IPFS for decentralized storage, a pinning service for data preservation, simplified NFT upload and management, a built-in CDN for efficient content delivery, and dedicated gateways for optimized access to stored data. Additionally, W3IPFS provides a well-documented SDK and API to facilitate integration and utilization for developers.

Use cases for W3IPFS span various industries and applications, including artists and creators showcasing digital artworks, NFT marketplace platforms ensuring the availability and integrity of user assets, NFT games storing game assets securely, and metaverse applications utilizing stored assets for virtual experiences. W3IPFS aims to offer an enhanced IPFS experience for both end-users and developers.

Decentralized AI Computation

AIOZ W3AI is a Web3 AI computing infrastructure aimed at revamping the execution of artificial intelligence tasks. It emphasizes decentralized AI computing and integration as AI-as-a-service, empowering developers and businesses to leverage the power of decentralized AI computing.

AIOZ W3AI enables AI models to run locally on user devices through AIOZ Nodes, ensuring data privacy and improved performance. It distinguishes itself by offering a comprehensive ecosystem beyond conventional AI execution platforms. This includes facilitating decentralized AI model training, hosting an extensive marketplace for AI models and datasets, and providing dedicated spaces for crafting advanced AI-powered DApps.

AIOZ W3AI combines collaborative model training, secure and shared datasets, and the development of innovative decentralized applications to create a multifaceted approach to AI computing.

Here are some of its key features:

• Local AI Task Execution: AI models run locally on user devices via AIOZ Nodes, ensuring data privacy and enhanced performance.
• Distributed Computing: AI tasks are distributed across the AIOZ Network, optimizing resource utilization and scalability.
• AI-as-a-Service Integration: Seamless integration of AI models into applications and services through user-friendly APIs, SDKs, and documentation.
• Comprehensive AI Models: Access a wide array of AI models, including image generation, classification, text recognition, and sound recognition.
• Proof of Computing and Rewards: AIOZ Nodes earn rewards for executing AI tasks through a proof-of-computing mechanism.
• Decentralized AI Marketplace: AI researchers and developers can create, publish, and monetize AI models on the AIOZ W3AI marketplace.
• Data Privacy and Security: Zero data exposure ensures privacy, while encryption and decentralized storage enhance security.
• Dynamic Scaling: AI task execution scales dynamically based on demand, ensuring efficient resource utilization.
• Low Latency: Local execution of AI tasks minimizes latency and improves user experiences.

AIOZ's AI computing solution has a multitude of use cases:

• Blockchain Projects: Integrate AI functionalities directly within the blockchain ecosystem for decentralized applications and smart contracts.
• Edge Computing Solutions: Execute AI tasks locally on IoT devices and platforms, enhancing real-time decision-making.
• Mobile and Web Applications: Deliver AI-powered features without compromising user data privacy in mobile and web applications.
• E-commerce and Personalization: Power personalized product recommendations to enhance user experiences and drive customer engagement.
• Research and Development: Collaborate, share models, and execute experiments securely and efficiently in AI research.
• Healthcare and Biotechnology: Enable AI-powered medical image analysis directly on medical devices to improve diagnostic accuracy.
• Education and E-learning: Enhance e-learning platforms with on-device AI capabilities for personalized learning experiences.

Live Streaming Capabilities

AIOZ W3Stream is a foundational infrastructure for decentralized video streaming on the internet, aiming to address the challenges posed by centralized video hosting and streaming platforms.

While Web2 platforms have transformed the consumption and creation of video content, they often result in opaque distribution and disproportionately benefit large platforms over content creators. AIOZ W3Stream provides tools, technologies, and support for businesses to deliver high-quality video content globally while offering alternatives to the revenue-sharing models of Web 2 platforms.

AIOZ W3Stream offers an infrastructure for decentralized video streaming on the internet, featuring comprehensive support for popular media streaming protocols such as HLS and MPEG-DASH. It incorporates AIOZ's distributed Content Delivery Network (dCDN), strategically positioned across the globe to ensure lightning-fast content delivery with minimal latency and no single points of failure.

The platform simplifies integration for businesses with user-friendly APIs, SDKs, and documentation, enabling seamless incorporation of video streaming capabilities into applications and services. With wide device compatibility, including desktop browsers, mobile devices, smart TVs, and streaming media players, AIOZ W3Stream provides a cost-effective video delivery solution through various optimizations.

In terms of use cases:

• AIOZ Web3 streaming serves as a valuable solution for video streaming platforms, catering to global streaming services, niche content providers, and live streaming platforms alike.
• Media and entertainment companies, including broadcasters, content creators, and sports networks, benefit from seamless and reliable delivery of their video content, enhancing audience engagement.
• E-learning platforms can leverage AIOZ Web3 streaming to deliver educational videos and interactive content worldwide.
• For webinar and virtual event platforms, AIOZ enables the delivery of live video streams with minimal latency and buffering.
• OTT service providers can utilize the platform to optimize content delivery, offering smooth playback experiences to subscribers across various devices.
• Gaming and esports platforms can leverage the solution for real-time gameplay streams and esports tournaments.
• Enterprises can utilize AIOZ Web3 streaming for internal video communication, training solutions, and executive broadcasts.
• Telecommunications providers can integrate the platform into their service offerings to enhance video streaming capabilities for customers while optimizing network bandwidth usage.

The Technology Behind AIOZ Network

The AIOZ Network's blockchain blends the robustness of Cosmos with the compatibility of the Ethereum Virtual Machine (EVM), utilizing Tendermint core and dBFT consensus for high transaction throughput and scalability. Its multichain structure facilitates integration with prominent EVM chains like Ethereum and Binance Smart Chain via Gravity Bridge, and with Cosmos-based chains via Inter-Blockchain Communication (IBC), enabling asset transfer between blockchain ecosystems.

The AIOZ blockchain also supports established smart contract languages like Solidity and Web Assembly, allowing developers to create versatile applications that maintain compatibility across platforms.

Key features of AIOZ Network's blockchain include:

• Instant finality
• Low transaction fees
• Multi-chain architecture for scalability
• Support for EVM-compatible smart contracts

Its interoperability with other Cosmos-based blockchains and EVM chains allows seamless integration with existing DApps.

Additionally, AIOZ Network actively collaborates with Gravity Bridge and IBC Protocol to enhance its interoperability with Ethereum and Cosmos-based blockchains. Gravity Bridge provides decentralized asset bridging between Ethereum and Cosmos ecosystems, while IBC Protocol facilitates connections with prominent Cosmos-based blockchains like Cosmos Hub and Osmosis.

This interoperability offers several benefits, including access to both Ethereum and Cosmos ecosystems, one account with two types of addresses, bringing Ethereum-based apps to the Cosmos world, and familiar tools for developers.

AIOZ Token

The AIOZ Network operates on the AIOZ token, an ERC-20 token built on the Cosmos blockchain, with a current total supply of over 1.09 billion, of which 1.08 billion are already in circulation as of April 16, 2024. The token doesn't have a finite supply.

Aside from facilitating transactions, the AIOZ token has additional functions:

• Holders can stake their AIOZ tokens, contributing to network security and earning variable annual percentage yields (APY) as rewards.
• The token acts as a reward mechanism for delivery nodes that provide computing resources, storage, and bandwidth to ensure efficient content delivery across the network.

AIOZ Tokenomics

The current tokenomics, implemented after the successful Mainnet launch in December 2021, featured a 9% inflation rate, which, while not uncommon in the industry, posed concerns regarding economic stability within the network. With AIOZ Network currently gearing up for the launch of AIOZ W3S, the tokenomics were updated.

AIOZ Network has introduced Version 2 (V2) of its tokenomics, aiming for a more adaptable and sustainable token economy. The revised mechanics focus on gradually reducing token inflation to create a stable economic environment for users, stakeholders, and the broader AIOZ community.

Under the new tokenomics, AIOZ tokens will continue to serve various functions within the network, including staking for security, rewarding node managers, and facilitating transactions. A controlled reduction in inflation optimizes the token's utility, ensuring it remains valuable and versatile.

The commitment to minimal inflation entails a gradual decrease of 1% each year, starting from Dec. 25, 2023, for a total reduction of 4% over four years, resulting in a resting inflation rate of 5% by 2026. This reduction aims to increase incentivization for stakeholders within the AIOZ Network, with proceeds distributed as before, with 50% going to validators/delegators and 50% to the treasury.

The Treasury tokens will be utilized to incentivize the growth, adoption, and expansion of AIOZ products. Moreover, token burning mechanisms have been implemented, with tokens being burnt based on network usage, node rewards, infrastructure revenues, and AIOZ native DApp revenues.

Currently, the AIOZ token is trading at $0.66, down 75.2% from its all-time high of $2.65, which it achieved in April 2021.

Where Can You Buy AIOZ Token?

There are both centralized and decentralized options if you're looking to buy AIOZ tokens. 

You can get your hands on AIOZ on Bybit, Coinbase and Gate.io, among many others. Also, head over to our article where we highlight the best crypto exchanges.

If you'd rather do so via a decentralized exchange, AIOZ can be bought via Uniswap, Pancakeswap and SushiSwap.

AIOZ Network Roadmap

The AIOZ Network's roadmap outlines plans for innovation and expansion across various facets of its ecosystem.

In Q1 2024, it aimed to launch AIOZ W3S, AIOZ DTransfer DApp, AIOZ multi-chain wallet browser extension, and integrate AI computing into AIOZ Node V3, alongside introducing AIOZ W3IPFS. 

Moving into Q2 2024, the focus shifts to decentralized AI services with AIOZ W3AI V1, the introduction of AIOZ drive DApp, and transcoding integration in AIOZ Node V4. Q3 2024 is expected to see the launch of AIOZ W3Stream, AIOZ W3AI V2 featuring an AI marketplace for dataset monetization, and the deployment of various token standards and the AIOZ Gravity Bridge.

By Q4 2024, AIOZ plans to unveil its decentralized exchange (DEX) and advance AI training capabilities in AIOZ W3AI V3.

The long-term vision emphasizes developing a self-sustaining Web3 infrastructure network that's continually adapting to meet evolving needs.

AIOZ Network Review: Closing Thoughts

With its decentralized storage infrastructure, scalable content delivery capabilities, decentralized AI computation services, and live streaming solutions, AIOZ Network addresses the increasing demand for seamless content delivery, secure storage, and advanced AI computation.

By leveraging blockchain technology, AIOZ Network offers a transparent framework for Web3 storage, empowering users, developers, and businesses alike. With its adaptive tokenomics and commitment to minimal inflation, it ensures a sustainable and balanced token economy.