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Nosana

The Nosana Network is a decentralized GPU (graphics processing unit) grid that allows anyone to contribute spare computing power and earn rewards in the form of the $NOS token. It provides affordable GPU resources for running AI workloads without the overhead of traditional cloud solutions. The platform was founded by and is powered by the . [1][2]

History

In 2021, the Nosana team, headquartered in Amsterdam, came up with the idea of how to innovate computing. They aimed to develop a decentralized crowd computer specialized in CPU computations, particularly focusing on transforming CI/CD (Continuous Integration/ Continuous Deployment) practices. Combining backgrounds in software engineering, computer science, and artificial intelligence, the team collaborated to create the platform. They conducted extensive research into distributed systems, technology, and computer hardware, resulting in a custom solution. [4]

Funding from the and pre-seed investments supported their work. Despite encountering technical hurdles and scalability issues during development, the team persisted, refining the system for security, efficiency, and user experience. [4] Recognizing the need for broader applications, the team pivoted to explore GPU computing, initially with AI inference workloads. [4][7]

Overview

Nosana is a platform that provides AI users with affordable GPUs (graphics processing units) and GPU owners with an income. GPU owners can rent their GPUs to AI users, who in turn can access powerful hardware and train and use their models faster. Nosana also provides users with a suite of tools to help them get the most out of their GPU resources. In return for the contribution of computational resources, contributors receive NOS tokens — the native of the Nosana platform. [3]

"We aim to bring the disruptive power of blockchain technology to the field of AI" — Nosana's vision[3]

In October 2023, Nosana announced its pivot away from CI/CD to focus on providing a massive GPU-compute grid for AI inference. The change was due to the CI/CD market not providing the desired traction which led the Nosana team to identify the opportunity in AI. [7]

"GPUs are the cornerstone of these technologies. The same power that makes it possible to render beautiful graphics in your favorite video game also makes it possible to train and talk to ChatGPT"

"Meanwhile, many GPUs that belong to gamers, miners, and users of high-end devices are largely underused. GPU benchmark data suggests many use cases where you do not need the newest, most powerful GPUs on the market. Consumer-grade GPUs not only provide high availability but also deliver more inferences per dollar compared to major cloud providers." [7]

Following the pivot to GPU-compute grid for AI inference, in November 2023, Nosana announced the launch of Nosana’s Incentivized Test Grid — a multi-phase program set to further power the AI revolution by providing an opportunity for anyone to participate in the GPU-compute grid for AI inference. [8]

"The Test Grid marks an important milestone on our journey, paving the way for Nosana’s Mainnet launch. By combining a diversity of GPUs from different stakeholders into our first compute grid, we will be able to measure and finetune the network’s performance and improve its features. This is a step towards providing decentralized cloud infrastructure, freeing users from the lock-in of cloud providers, and guiding them to the opportunities Nosana presents" — , Co-founder of Nosana[8]

$NOS

The Nosana ecosystem is powered by its native token, $NOS. This digital asset is used within the Nosana marketplace for various services, including running CI/CD (Continuous Integration/ Continuous Deployment) for development projects, as fees for purchasing GPU power on the network, staking to earn rewards and validate, and for governance votes to determine how network resources are allocated. [5][6]

As an SPL-compliant ( Program Library) token, $NOS ensures secure, easy-to-manage transactions within the marketplace, offering an effective payment method for computing resources. [5][6]

Tokenomics

The $NOS token has a total supply capped at 100 million tokens. The token's journey began with initial offerings at $0.1 during its IDO (Initial DEX Offering) and IEO (Initial Exchange Offering) phases, showcasing returns on investment (ROIs) since those events. [5][9]

Additionally, a private sale was conducted at $0.08 per token, which also demonstrated substantial ROIs (Return on Investments) for early investors. The token distribution was strategically planned to ensure a gradual release into the market, with private sale tokens having a 10% release at the Token Generation Event (TGE) and a linear release over the subsequent nine months. [9]

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Nosana

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Edited On

April 25, 2024

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