Insights

Nosana - Powering the AI Revolution

N+1 Analytics

13 Aug 2024 • 3 min read

In this edition, we explore Nosana, Sonic Testnet, the XRP ruling and more.

💥 Cutting Edge with Shoal Research

In collaboration with Shoal Research, this week’s edition will focus on Sui.

Sui ($SUI)

What is it? Sui is a high-performance Layer 1 blockchain developed by Mysten Labs. It is designed to enable decentralized applications (dApps) with a focus on speed, security and scalability.

What does it do? Sui processes transactions efficiently through parallel execution, making it significantly faster than traditional blockchains.

Why is it interesting? Sui's architecture allows it to process up to 120,000 transactions per second in a test environment, potentially revolutionizing how dApps operate. Additionally, its developer-friendly environment opens up opportunities for innovation in smart contract development.

Check out Shoal Research’s Substack and Telegram channel.

💡 Coin Spotlight: The N+1 HODL

In this segment, we dive into the N+1 Hodl basket and discuss our altcoins.

Coin: Nosana (NOS)

Sector: AI

Narrative: “Powering the AI revolution”, Nosana harnesses the power of idle GPUs to create a cost-effective grid. Nosana claims the costs are up to 85% lower than traditional public clouds.

Fundamentals: Powered by Solana, Nosana offers a decentralized GPU grid which provides on-demand access to GPU resources.

Why do we hold: Nosana is a cost-effective, decentralized, environmental friendly alternative to big data centres.

Performance: NOS is up 126% YTD.

⏰ Crypto News Recap

Keep up to date with the latest in crypto.

Sonic Testnet

Sonic testnet has reached over one million users and more than 600 million transactions. Sonic is the first gaming L2 infrastructure built on Solana. The testnet features 8 different web3 games for users to play. The mainnet release is set to launch after the testnet finalizes. This success follows a $12 million funding round in June.

XRP Ruling

XRP rallied 20% last Wednesday as the SEC case began winding down. On August 7th, Judge Analisa Torres issued an $125 million penalty to Ripple Labs. This penalty is significantly lower than the original $2 billion suggestion from the SEC, but higher than Ripple’s $10 million proposal. Ripple CRO, Brad Garlinghouse, claims this is a victory for Ripple, saying that the “SEC’s headwinds against the whole of the XRP community are gone”. The SEC came after Ripple Labs in December of 2020.

FTX Settlement

$12.7 billion will be paid to FTX creditors after a US Judge approved a settlement. On August 7, the ongoing FTX-Alameda Research-CFTC lawsuit came to a conclusion as Judge Peter Castel announced that FTX and Alameda would pay $12.7 billion in restitution and disgorgement. The full sum will be paid out to creditors.

📚 N+1 Recommendations

The N+1 reading and media recommendations are sourced from our team of experts and offer weekly suggestions for learning more about blockchain, crypto, finance and technology.

This weeks recommendation: Tokens: The Future of Money in the Age of the Platform by Rachel O'Dwyer