Filecoin recently introduced the Fluence Project. It has marked a pivotal moment, for it brings together artificial intelligence and decentralized computing mechanisms. The community is now looking forward to leveraging its best since it is a better alternative to centralized services. The Fluence Project, which builds a custom L2 on the network, enters the market to enhance cloudless computing.
Fluence operates by aggregating CPU resources from globally dispersed, top-tier data centers. This enables businesses to obtain the same services without utilizing the cloud, or rather, grants them the permission or opportunity to do so. This allows individuals to circumvent two components: data lock-in and subjective censorship.
It primarily comes as a contestant against AWS Lambda. AWS Lambda has been identified as a cost-effective and efficient mechanism when it comes to tasks that ought to be performed occasionally and not frequently. Fluence takes the lead by combining the advantages of scalable serverless computing with the benefit of censorship-resistant decentralization.
The introductory section, The Fluence Project, provides superior Web3 dApps. They are in search of services that eliminate virtually all conceivable elements of centralization. Furthermore, the presence of the Fluence Project within the ecosystem facilitates an expansion of decentralized application use cases.
Fluence is further gaining traction for being able to spin up the subnets. This creates replicas that are ready to serve the computations.
The ecosystem is now looking forward to having competition among compute providers and earning $FLT rewards. Users of the platform will simultaneously have access to zero fees, which is in contrast to cloud platforms charging a margin in the range of 30–70%.
AI enters the picture by proving that AI models can be better trained when specific data is readily available, and queries are executed without any manipulation.
That said, the reward mechanism in FLT is driven by FLT tokenomics. There are 1,000,000,000 FLT in supply, out of which 5% are in initial circulation. The market cap was last recorded at $46 million. Analysts estimate that the supply could be increased to 10% by the end of this year, that is, 2024.
This momentary uptick the valuation of FLT by 1.5%. It has now retraced back to $1.26, with a slip of 1.53% in the last 24 hours. FLT is only available on Gate and ByBit.
Many members have come forward to say that the project may be undervalued at the moment and that there is a lot to happen in the times to come. Concerning FLT, the token is suitable for DAO voting and staking with computer providers.
The current highlight comes almost a week after the mainnet launch of the serverless computing platform on Filecoin via @ipcdevs. It is considered a major deal as it establishes Filecoin as a crucial infrastructure for distributed computing.
Source: https://www.cryptonewsz.com/filecoins-fluence-project-ai-and-decentralized-computing-unite/