Understanding IO Coin and the IOG Network

What is the primary vision behind the creation of io.net?

• To create a globally accessible, decentralized cloud computing network.

• To develop a private network for governmental use.

• To establish a new form of digital currency.

• To compete with traditional banking systems.

What does $IO represent in the context of io.net?

• A new programming language.

• The currency of compute power.

• A security protocol for networks.

• A form of digital art.

Which blockchain is IO an SPL token built on?

• Ripple

• Solana

• Bitcoin

• Ethereum

What is the maximum supply of $IO coins as mentioned?

• 500 million

• 200 million

• 1 billion

• 800 million

What type of fees does io.net charge when a reservation for computational power is made?

• Cancellation fees

• Reservation fees

• Installation fees

• Subscription fees

What is the fee percentage for payments made in USDC?

• 2%

• 5%

• 0%

• 1.5%

How are the $IO coins used to secure the network?

• By paying for advertisements

• By staking as collateral

• By purchasing hardware

• By encrypting data transfers

What is the initial supply of $IO at genesis?

• 600 million

• 700 million

• 500 million

• 300 million

What is the role of GPU Renters in the IOG Network?

• To sell software licenses

• To purchase GPU computing power

• To provide security

• To manage transactions

What happens to $IO coins that are slashed due to non-compliance or failures?

• They are converted to another cryptocurrency.

• They are returned to the reserve pool.

• They are burned.

• They are redistributed to compliant users.