- 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 their computing power to those in need, usually in the AI sector, and be 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 via Huawei’s cloud infrastructure.
The world has never been in more urgent need of computing power. The rise of AI has pushed the demand for computing power to astronomical heights, and current commercial infrastructure cannot meet this demand. This has led to the emergence of a booming market in which private GPU owners lease their computing power to the companies that need it most, especially for processing AI calculations.
Dedium is one of the companies that builds these solutions. It recently announced that it had successfully completed its incubation by Huawei into the tech giant’s startup program. As a result, it has started working with Huawei on new contracts “and their support will help us scale our platform, improve infrastructure and reach new markets,” Dedium said.
It added:
We’re happy to share that we’re officially working with them to leverage their cloud services. Together we will build a distributed computing network on the blockchain to power the AI companies of tomorrow.
The Cardano Foundation noted that it is “exciting to see innovation in distributed computing and AI being built directly on the Cardano blockchain. A big step forward for decentralized computing and for Cardano.”
A decentralized computing network on Cardano––powered by @Huawei! 🌐
It’s exciting to see innovation in distributed computing and AI being built directly on the Cardano blockchain.
A big step forward for decentralized computing, and for @Cardano. ⛓️https://t.co/s6dMlFT8eA
— Cardano Foundation (@Cardano_CF) November 4, 2024
Decentralized computing on Cardano
Dedium is suitable for both GPU owners and customers. For the former, it offers them a revenue stream from their computing power that would otherwise have gone untapped. 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, the native token. In addition to being used to trade computing power, DEDI can also be deployed by users, who then earn rewards for it.
AI is at the heart of today’s technology, and its computing requirements are unlike anything the tech world has ever seen. Data shows that this demand doubles every 100 days. For context, one search on ChatGPT uses more computing power than ten Google searches. It is clear that Dedium is targeting a mature market.
ADA is trading at $0.3313 and has been trading sideways over the past day. Since Sunday, the stock has fallen 8.7% and earlier in the day hit a monthly low of $0.3216 before recovering slightly.
One analyst notes that ADA has been trading in a descending triangle since July. If the two trend lines converge within the next 30 days, a massive breakout could occur that could eclipse this year’s record price.
🚨Graph Alert: $ADA seems programmed for a massive move within a month 🤯
How high could this green candle go? #Cardano 🚀 pic.twitter.com/uJvtcA4Fh2
— Polkadot Leader (@PolkadotLeader) November 4, 2024
