Amino FAQ Vol. I
Amino has a philosophy that honest questions deserve honest answers. Whether it is a basic or advanced leveled question, we believe that being well educated and having a clear understanding is essential to the appreciation of any concept.
Below are a few of the key questions that we found to be intriguing from our community members — in which we have provided in-depth answers.
General
What is Amino and what does it do?
Amino is a next-generation decentralised infrastructure for sharing computing resources, based on blockchain technology.
Amino offers high performance and cost-effective distributed computing services, on demand and at a commercial grade. This is enabled by encouraging all kind of computer equipment owners to contribute their idle computing resources to consumers on the Amino network.
Who can use Amino?
Generally speaking, Amino primarily operates under the SaaS (software as a service) model. The picture illustrated below gives a non-exclusive list of potential SaaS providers that will utilise Amino.
It can seen that the rapid development of emerging industries such as AI, AR/VR and blockchain will require the processing power of distributed computing networks — which allows for rising market use cases of Amino.
For example, the AR/VR industry is projected to reach a market size of over USD 200 billion by 2022, which is almost a ten-fold increase from the present moment. Startups providing resource-intensive services within the AR/VR industry will need powerful computer processing capabilities which can be obtained through the use of The Amino Network, as it may be financially nonviable to acquire a large capital of computing assets themselves.
What is the current progression of the project and the plans moving forward?
Currently, at this stage, we have approximately 4000 nodes across 21 locations and still constantly growing — all part of the distributed network of Amino. However, presently, they are not on-chain nodes. Our Pre-Launch and the Amino OS Alpha focused on Slave Nodes will be released shortly, in which we will give updates. Incremented features like Master and Super Node layers on testnet will be released early 2020.
What is the background of Amino’s team?
Amino is developed by a distinguished team of researchers and experts from top universities in New Zealand and Australia who combines extensive backgrounds in AI, Big Data, distributed systems, information security, risk governance, economics and blockchain, with real-world business and entrepreneurial experience.
It is fully supported by The New Zealand Digital Economy Development Trust — a trust that actively promotes New Zealand companies and research institutions to connect with global digital technology.
The full list of our members can be found on our website.
Technical
How does Amino work?
Amino is a next-generation blockchain infrastructure for sharing computing power where rewards are based on contribution, not results, providing an economic model that ensures benefits to both contributors and consumers.
Under Amino’s unique approach, individual nodes (contributors) provide computing resources to the platform, while the platform takes responsibility for consumer computing tasks.
Contributors are then rewarded for rendering their idle computer resources, irrespective of any task being completed. This method also allows Amino to give performance guarantees to consumers as the platform will always distribute sufficient computing resources to make sure that tasks get completed.
Contributors need to know that their normal computing use will remain unaffected while their idle resources are being used and their data needs to remain secure. Consumers would also place a high priority on data security while having access to easy-to-use, reliable computing resources.
Amino perfectly meets these needs through its Amino OS, a stable and reliable computer sharing architecture, while embedded intelligent modules will streamline Amino’s performance, giving the network the ability to learn, adapt and evolve over time.
For further in-depth information please view our whitepaper here.
What makes Amino different from other decentralised computing networks such as Golem and SONM?
There are several distinct differences. One important difference Amino and other peer-to-peer (p2p) networks like Golem and SONM is that they would require a successful task completion for the resource contributor to receive financial rewards. However, under The Amino Network, contributors are only responsible for providing their resources for financial rewards. Also, Amino creates a fairer reward system as it is unaffected by conditions which may disrupt the process of using p2p networks — making Amino a more financial and network stable environment.
How does operating as an Amino slave node compare to standard GPU mining in terms of power and ROI?
Which token standard does Amino use?
We currently will be implementing ERC-20, the most popular token standard within the market. However, during Stage 4 of our roadmap (Amino Network Beta), we will be finished with the development of our MainNet and be branching out to Amino’s exclusive token standard.
Other
I am interested in your bounty program. When does it start?
We will announce a bounty program in the near future, to encourage and reward active and passionate community members for spreading the word about Amino, helping us grow our community, and giving feedback on our progress.
How are you going to kickstart the adoption of Amino?
The initial way for kickstarting the adoption of Amino will be partnerships and co-operation with service providers such as universities and tech-parks. These institutions operate machine learning tasks and need huge amounts of additional computing power. Applications such as AI, graphic rendering, AR/VR, IoT will usually produce the highest benefit-cost ratio.
Amino currently powers CloudYo(computing power provider), G-Render(video rendering company) and Leonardo(graphical rendering platform).
I want to know more information that is not mentioned above. Whom can I ask?
Here at Amino, we are always enthusiastic about helping as well as hearing suggestions from users about anything they would like to be addressed. Please reach out to contact@amino.world and we will answer you accordingly.
We will be releasing ‘FAQ Vol. II’ in the near future. So please stay tuned to our Medium channel.
