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- Dedium Network has announced a new partnership with Huawei where it will use its cloud infrastructure to build a decentralized computing system on Cardano.
- Dedium allows GPU owners to rent out their computing power to those in need, usually in the AI sector, and get compensated for it.
Dedium Network, a startup building a decentralized computing system on Cardano, has announced a new partnership with Chinese tech giant Huawei. Under the partnership, Dedium will deploy its services using Huawei’s cloud infrastructure.
The world has never been in a more dire need of computing power. The rise of AI has pushed the demand for computing power to astronomical heights, and the current commercial infrastructure can’t meet this demand. This has led to the emergence of a thriving market in which retail GPU owners rent out their computing power to the companies that need it the most, especially for the processing of AI computations.
Dedium is one of the companies building these solutions. It recently announced that it had successfully completed its incubation by Huawei in the tech giant’s startup program. As a result, it has partnered with Huawei on new contracts “and their support is helping us scale our platform, enhance infrastructure, and reach new markets,” Dedium stated.
It added:
We’re thrilled to share that we have officially partnered with them to leverage their cloud services. Together, we’ll build a distributed computing network on the blockchain to fuel tomorrow’s AI companies.
The Cardano Foundation noted that it’s “exciting to see innovation in distributed computing and AI being built right on the Cardano blockchain. A major step forward for decentralized computing and for Cardano.”
A decentralized computing network on Cardano–– supported by @Huawei! 🌐
It’s exciting to see innovation in distributed computing and AI being built right on the Cardano blockchain.
A major step forward for decentralized computing, and for @Cardano. ⛓️ https://t.co/s6dMlFT8eA
— Cardano Foundation (@Cardano_CF) November 4, 2024
Decentralized Computing on Cardano
Dedium caters to both GPU owners and customers. For the former, it offers them an income stream from their computing power, which would have otherwise been left idle. For the latter, it offers one of the cheapest sources of computing power and a better alternative to commercial sources.
Dedium’s ecosystem is anchored on DEDI, its native token. Beyond being used to trade the computing power, DEDI can be staked by users, who then earn rewards for it,
AI is at the heart of today’s technology, and its computing demands are unlike anything the tech world has ever seen. Data shows that this demand doubles every 100 days. For context, one query on ChatGPT consumes more computing power than ten Google searches. Clearly, Dedium is targeting a ripe market.
ADA trades at $0.3313, trading sideways over the past day. Since Sunday, it has dipped 8.7%, and earlier today, it hit a monthly low at $0.3216 before recovering slightly.
One analyst notes that ADA has traded in a descending triangle since July. As the two trendlines converge within the next 30 days, it could be scheduled for a massive breakout that could eclipse this year’s record price.
🚨Chart Alert: $ADA looks programmed for a massive movement within a month 🤯
How high could this green candle go? #Cardano 🚀 pic.twitter.com/uJvtcA4Fh2
— Polkadot Leader (@PolkadotLeader) November 4, 2024