AIOZ Network (AIOZ) has announced that they will be dropping several patents that were registered overtime the years. According to reports, the project will not pursue claims pertaining to the PTC patents it filed in 2018. These patents were previously awarded to AIOZ in 2020.
AIOZ Network further explained their perspective saying: “We believe that cryptocurrency is all about finding collaboration even when there is competition. This also allows us to grow as an industry and to challenge ourselves to be better.”
“Other projects can leverage years of work in order to build their own next big thing! That’s how we evolve and progress, by lifting each other up,” they added.
According to the official blog, the following patents are available now:
- Artificial Intelligence Proof of Transcoding: “Method and Apparatus for Video Content Validation”
Video transcoding is a process of converting one video file from one format to another format that is a better-compressed version. This ensures that the consumers stream content in the highest possible qualities that too without buffering. However, the transcoders can cheat the content creators by doing a low-quality job. To validate the video quality, the patent proposes Proof of Transcoding using Artificial Intelligence. It uses a Deep Neural Network which significantly improves both the accuracy and execution time of the proofing process.
- Infinite Sharding: “Method and Apparatus for Transaction Verification in a Blockchain-based Network”
The existing blockchains like Bitcoin and Ethereum are facing scalability challenges. To overcome the same the patent proposes a consensus protocol using a unique Sharding technique. It will utilize the principle of dividing transactions into smaller independent groups. These smaller transactions can then be verified using three proposed light-weight proofs for video processing and services
- AIOZ Network Blockchain: “Method and Apparatus for Transaction Verification in a Blockchain-based Network.”
These light-weighted proofs are:
i) Proof of Transcoding for validating video transcoding jobs.
ii) Proof of Storing for validating video content storage jobs.
iii) Proof of Delivery for validating jobs,
Comparison between AIOZ Network and Theta Network
The project has often been compared with Theta Network because they work with the dCDN sector and have similar ambitions in the media industry.
However, Theta Network permits temporary work via caching technique and it has a patent for this. But, Theta patents “hold no grounds on the AIOZ Network architecture as AIOZ Network powers dApps Ecosystem, via a p2p interconnected mesh network of Edge nodes. As well as, with permanent work of storage using user-friendly Edge Node application.”
About AIOZ Network
AIOZ Network a Layer-1 blockchain-based content delivery network leverages blockchain to improve content distribution through decentralization. A distributed Content Delivery Network (dCDN) makes use of Nodes for storing, streaming, and transferring data, replacing traditional data centers operating on a P2P model.
It also uses a faster, cheaper, and more robust platform for content streaming making it affordable, fast, and of better quality. With this technology, the project will be able to make significant changes to the way content streamed occurs today.
They have also recorded several achievements in recent times, starting from a record-breaking IDO to phenomenal community growth. As of the 12th of April, the token holders of ERC20 were 9,546 and token holders of BEP20 were 12,363 as of 12th April 2021. The nodes count is also at 17,000 presently.
As of the time of writing, the AIOZ token price was $1.42 with a 24-hour trading volume of $7,934,209. AIOZ price gained over 1.4% in the last 24 hours. Besides, it has a circulating supply of 54 Million AIOZ coins and a max supply of 1 Billion. Uniswap (v2) is also the current most active market trading it.