Blockchain and cryptocurrencies are accompanied by a wide range of evolving technologies that are facilitated by the rise of the internet. Edge computing, a distributed computing paradigm that enables processing data far away from a data center or cloud at the “edge” of the network, counts among them.
Edge computing, a key technology of the Metaverse, alleviates latency by processing data closer to the source, thus significantly reducing the time it takes for data to travel to and from a server. By bringing computing power and data storage closer to the location where it’s needed, edge computing has the potential to save bandwidth while resulting in better response times. Processing data locally also ensures that applications continue to run as intended even when there is a network outage.
The potential use cases of processing data at the edge of the network created an available market of $11 billion in 2022. From healthcare to manufacturing to agriculture and to gaming, the edge-computing market is growing at a CAGR of 37.9%, according to Grand View Research, with a $155.9 billion total available market forecasted for 2030.
As edge computing continues growing at a fast rate along with the availability of better internet connectivity, projects have started looking for ways to benefit from blockchain, artificial intelligence (AI) and other technologies to provide users and businesses with new ways to monetize their internet availability.
Powered by high-speed Wi-Fi devices, the RevoFi network is a decentralized wireless infrastructure platform aimed at delivering a simplistic approach to onboarding for nonfungible tokens (NFTs), crypto and decentralized finance (DeFi). RevoFi aims to democratize and decentralize the internet with AI capabilities, flexible business models, reduction in cloud costs and versatile revenue generation. Its far-edge computing segment can potentially represent a serviceable, obtainable market of $1.1 billion in 2023 and $14.5 billion in 2030.
A decentralized network created for users
Users can join the network by owning a RevoFi-enabled device and earn Revos (RVS), the native token of the blockchain, by providing network coverage and sharing resources to compute, store and send data across the network. Deemed the next generation of wireless technologies, the Wi-Fi 6 mesh connectivity used in RevoFi devices provides significantly faster connections across a group of devices, establishing a reliable hardware infrastructure for the Revos blockchain.
On top of the connectivity features, RevoFi paves the way for large language model training and applications with the AI capabilities of Jetson Nano. Developed by tech giant Nvidia, Jetson Nano computing devices are specifically designed for edge-AI applications. RevoFi provides businesses with three flexible business models for financing, revenue sharing and payout in their choice of currency. The RevoFi devices and network offer a 50% reduction in cloud costs as well as a further 15% to 35% reduction in bandwidth costs, making it an affordable solution for businesses looking to access the next-gen edge cloud infrastructure.
Source: RevoFi white paper
Device-based NFT staking
For users and businesses looking for a way to earn from their Wi-Fi connection and devices, RevoFi introduced Cipher Army NFT device staking. Users can stake their Cipher Army NFTs on RevoFi devices for hosting and earn staking rewards in RVS or other tokens by providing storage, computing power and connectivity for various workloads.
RevoFi said the team is committed to building a sustainable and equitable far-edge and edge-cloud infrastructure accessible to everyone worldwide. With an ongoing process to onboard Chainlink for earning LINK (LINK) tokens on a RevoFi device, the company aims to become the world’s first mining hardware for Chainlink. Additionally, RevoFi plans to add BTC Lightning, Akash and over 50 other protocols to increase revenue earnings and bring a truly decentralized edge-cloud infrastructure to the global market.
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