io.net FUD explained: SQL injection, fake GPU spoofing and new verification
Quote214 words
Recaps the io.net controversy: an SQL injection on 25 April and a bad actor flooding the network with fake GPUs so only a fraction of supply was usable. Judges the response adequate, with spoofing protection, public Proof of Work logs and an explorer separating GPU tiers.
Key claims
SQL injection attack on 4/25
Explorer now separates Unverified, Verified and Cluster Ready GPUs
Author states he is not an investor
There has been a lot of FUD around @ionet recently.
Now, that the dust settles, we have more clarity.
TL;DR
✦ SQL injection attack on 4/25
✦ Bad actor flooding network with fake GPUs
✦ Only fraction of network actually usable
✦ This caused FUD to spiral out of control
✦ Better spoofing protection now
✦ Verification system to catch fake GPUs
✦ Publicly viewable Proof of Work verification logs
✦ Explorer separates Unverified, Verified & Cluster Ready GPUs
The issues arising from a misrepresentation of network supply, should hence be resolved.
Think while the team should have communicated more pro-actively & earlier, the overall response and action taken seems adequate.
I will post a thread with more details soon.
Not an investor myself so I don't have any "skin in the game".
But diving into the AI/GPU space more and more, as it is definitely one of the largest opportunities in the market this cycle.
Still positive that we're looking at a good $IO airdrop for the ones included in the first snapshot.
In the meantime, @ionet is starting to announce partnerships/integrations with on the user side (see post linked below), which will hopefully help address the above as well.
Still work to be done, but things are clearly looking up again imo.
QUOTING @PublicAI_
🚀 Thrilled to announce our groundbreaking partnership with @ionet, a pioneer in managing decentralized GPU clusters worldwide! 🌐 Get ready to see 8 A100 GPUs cooking up some magic AI feast on t.co/djd1EHgh8t – this is just the appetizer! 🍳 Together, #PublicAI and @ionet
🚀 Thrilled to announce our groundbreaking partnership with @ionet, a pioneer in managing decentralized GPU clusters worldwide! 🌐 Get ready to see 8 A100 GPUs cooking up some magic AI feast on t.co/djd1EHgh8t – this is just the appetizer! 🍳 Together, #PublicAI and @ionet
What came next · since 06 May 2024
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Covered, no call
Since then
Zero has written 45 more pieces on io.net and $IO since this one.
- io.net IDE tokenomics: #1 revenue DePIN at 5.3x MC/ARRBullish call on $IO
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