Home News Blockchain Perlin Develops Decentralized Network to Rent out Unused Computing Power

Perlin Develops Decentralized Network to Rent out Unused Computing Power

October 09, 2018 12:40
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Perlin has built a decentralized network that will allow owners of computers, phones and other smart devices to rent out their unused computing power. This will allow users to access fast and secure cloud computing power that is significantly cheaper than existing centralized cloud providers.

Interestingly, the Indian government think tank Niti Aayog is working with Perlin to develop in the field of artificial intelligence, using distributed computing infrastructure in India and to develop the concept of an “India cloud” based on distributed computing resources.

Perlin has developed the novel Wavelet Protocol, which enables an ultra-fast directed-acyclic-graph (DAG) distributed ledger capable of over 10,000 transactions per second. It is backed by  nearly 200 institutional investors and strategic partners, including Bitmain (the world’s largest manufacturer of Bitcoin mining chips), F2Pool (one of the world’s largest Bitcoin mining pools), 500 Startups, FBG Capital, DHVC, Arrington XRP, ZhenFund and many others. Perlin has also partnered with over 50 organizations.

Explaining about Wavelet, Vincent Zhou, an investor and founder of FBG Capital, said, “The Wavelet Protocol represents the next generation of distributed ledger technology and is already capable of handling transaction volumes greater than that currently processed by Visa. In addition to its incredible transaction speed, Perlin’s platform also supersedes Avalanche by incorporating smart contract functionality, superior security, and compilers that will allow other decentralized projects to easily build on Perlin.”

Commenting on the partnership, in August, Niti Aayog Chief Executive Officer (CEO) Mr. Amitabh Kant had said, “It is well known that India has a vast available pool of technical expertise and skill at its disposal. Less well known is that it also has a vast pool of underutilized computing resources in the form of smartphones and laptops, which remain idle while we sleep. Our aim is to tap both these resources, and leverage recent advances in artificial intelligence, to empower all our local developers and tech entrepreneurs to position themselves as global leaders. Partnering with Perlin will provide us access to technology at the very forefront of innovation in AI, Machine Learning, distributed computing and blockchain technology.”

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