High performance computing blockchain protocol DeepSquare has announced its migration from Ethereum (ETH) to the Avalanche (AVAX) network. This initiative brings lower transaction fees, higher execution speeds and most importantly, is in line with the project’s green values.
DeepSquare lands on Avalanche
The information is now official. DeepSquare has announced the migration of its protocol from Ethereum (ETH) to the Avalanche network (AVAX). Specifically, the project announced the launch of its own subnet on this blockchain, in order to build the first high-performance computing (HPC) protocol for enterprises.
HPC, more commonly known as High Performance Computing, involves processing data and performing complex calculations at very high speeds. The supercomputers used in this context are dedicated to weather forecasting, cryptanalysis, financial and insurance simulations, artificial intelligence training, various physical simulations, etc.
In the era of the race for the greatest computing power and therefore the most powerful technologies, the stakes are immense for companies and governments.
“The values of Avalanche and DeepSquare align perfectly. Avalanche is focused on community, the environment and performance. These three elements are central to DeepSquare’s mission and make Avalanche the perfect fit.”
The DeepSquare team has been working on this migration for several months now. The community has been very appreciative of the news and is confident that it will drive adoption and development of the project in the future.
The transition to Avalanche offers full scalability, much lower transaction fees and faster execution speeds, which are more in line with the community’s expectations. Most importantly, it will bring DeepSquare’s green and sustainable values in line.
What is DeepSquare?
Halfway between the worlds of blockchain and traditional business, DeepSquare is building a decentralized, eco-friendly high-performance computing protocol on the Avalanche blockchain.
Its goal is to provide organizations and individuals with a cloud service that has the computational capabilities to address their current issues.
To assess the potential of such a product, one must look at the size of the HPC market. According to a MarketsandMarkets study, this market, valued at $37.8 billion in 2020, is expected to approach $50 billion with an estimated annual growth rate of 5.5%.
DeepSquare has built a marketplace for cloud computing applications to fuel innovation in artificial intelligence (AI), the metaverse and Web 3.0 in a transparent and inclusive way.
This is governed by DPS token holders, who will soon have the ability to vote on various system parameters (e.g., infrastructure pricing, community fees, token generation schedule, etc.).
When one thinks of high computing power, one often imagines disproportionate energy consumption. DeepSquare’s clusters are optimized to use only renewable energy, to leverage the latest advances in cooling and heat recovery technology and thus ensure the highest level of sustainability.
