With the ChatGPT trend sweeping across, the field of AI has become a hot topic. AI has become the main line in today's technology circle, and the integration of AI and cryptocurrency has become the focus of capital pursuit. Various related projects have shown explosive development and are favored by capital.
Then we have to pay attention to Gensyn, because it is a decentralized deep learning computing protocol based on blockchain and aims to establish an artificial intelligence (AGI) computing power market.
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Gensy project introduction
Gensyn is a blockchain-based AGI computing power market protocol that connects developers (anyone who can train machine learning models) with solvers (anyone who wants to train machine learning models with their own machines). Gensyn can increase available computing power for machine learning by 10-100x by leveraging idle, long-tail machine learning-capable computing devices around the world such as small data centers, personal gaming PCs, M1 and M2 Macs, and even smartphones.
Gensyn uses a cryptographic verification network that allows users to determine whether machine learning work shared through the protocol has been completed correctly without the need for intermediaries and trigger payments through tokens. In this verifiable way, Gensyn monetizes unused computing power. Although some functions are similar to io.net, Gensyn puts more emphasis on transparent AI training.
Token information:
Circulation volume: 1 billion
Launch time: It is expected to be launched on Binance and Ouyi in the second quarter of 2024
Release rules: No lock-up
Sector: Polkadot, AI&Data
Financing status: Received US$50.6 million, estimated valuation of US$800 million
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融资情况：
A Pre-Seed round in January 2021 attracted investors including 7percent Ventures, Entrepreneur First, Counterview Capital, and Id4 Ventures for $1.1 million.
A seed round of financing was conducted in March 2022, led by Eden Block. Eleven investors including Galaxy Digital, Maven 11, Coinfund, Jsquare, Hypersphere, and Zee Prime also participated in the investment, with the financing amount reaching US$6.5 million.
A Series A round of financing was conducted on June 12, 2023, led by a16z. CoinFund, Canonical Crypto, Protocol Labs, Eden Block and other investors also participated in the investment, with the financing amount reaching US$43 million. The funds will be used to accelerate the launch of the protocol, expand the staff team, and recruit more machine learning engineers.
Advantages of Gensyn:
This project is fully supported by a16z, which has both financial and manpower resources. a16z has paid a lot of attention to the project, so it has gradually been associated with many projects in the AI sector. Gensyn is currently the largest financing agreement in the Polkadot ecosystem. Developing for different networks through three different stages will help projects in the AI sector optimize metadata for probabilistic verification of machine learning training, precise verification of deterministic machine learning work proven on-chain, and performance with latency. Parallelizing machine learning models on constrained heterogeneous hardware. There are additional considerations for deploying development nodes.
Betting on the future of the AI sector, the narrative nature of AI will never stop. Now the AI sector is developing very rapidly, and the innovation of new iterations and new technologies is fleeting, so currently the AI sector with strong narrative nature is the largest highlights.
Summarize:
With the strong support of red-headed documents, the future world must be dominated by artificial intelligence. And Gensyn is a big boss in the Ai sector, so the potential for advancement is immeasurable! Gensyn's core goal is to democratize AI through decentralization plans so that more people can participate in the innovation and application of AI technology.
Is it possible that Gensyn will be the leader in the AI sector? We'll see! !
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