Worker Determined Pricing
Last updated
Last updated
In the Pictor Network, we empower GPU suppliers (Workers) to take control of their hardware’s rental cost through a decentralized pricing and bidding system. This innovative approach allows Workers to set their own prices for their computing resources, promoting a fair and transparent market.
Worker-Set Pricing: Workers have the autonomy to set the rental prices for their hardware, taking into account their hardware’s capabilities, maintenance costs, and desired profit margins. This pricing flexibility allows Workers to competitively position themselves within the market, ensuring they attract more jobs based on the value they offer.
Real-time Bidding: When a GPU requester (Creator) submits a rendering job, Workers bid for the job with their set prices.
Market Forces at Play: The Pictor Network’s decentralized platform allows market forces to dictate prices, ensuring that the most competitive bids are selected. This means that Workers with better prices are more likely to receive rendering jobs.
Dynamic Pricing: Prices fluctuate in real time based on supply and demand dynamics within the cloud computing market. This ensures that prices are always fair and reflective of current market conditions.
Worker Registration: Workers register their GPU/CPU resources on Pictor, specifying their hardware’s capabilities and set prices.
Job Submission: Creators submit rendering jobs to the Pictor Network.
Bidding: Workers bid for the job with their set prices, and the Pictor’s algorithm matches the job with the most competitive bid.
Job Allocation: The job is allocated to the winning Worker, and the Creator is notified of the selected Worker and price.
Job Execution: The Worker executes the job, and the Creator is billed according to the agreed-upon price upon reception of the correctly rendered results.
Empowers Workers: Gives Workers control over their pricing, allowing them to maximize their earnings and make informed decisions about their hardware’s utilization.
Optimized GPU Utilization: This dynamic pricing model ensures optimal utilization of GPU resources. Workers are incentivized to provide their services when demand is high and to adjust their prices accordingly when demand fluctuates. This adaptability leads to better resource management and efficiency within the Pictor Network.
Promotes Fairness: Ensures that prices are set by market forces, rather than a centralized authority, creating a more equitable and transparent pricing model.
Encourages Competition: Fosters a competitive environment where Workers are incentivized to offer better prices, leading to lower costs for Creators and a more efficient GPU market.
Decentralized and User-Driven: Aligns with the principles of a decentralized network, where the network participants have more freedom and autonomy.
By adopting the Worker Determined Pricing method, Pictor offers greater freedom and opportunities for all participants. The Worker Determined Pricing method not only aligns with the core principles of decentralization but also ensures a fair, transparent, and efficient cloud computing market.
