What I bring to you this time is the project in the AI sector. Since it is the leader in implementation, everyone knows that the next round of bull market will be either DeFi, RWA or artificial intelligence.
When planning for a bull market, don’t focus on one track. After all, no one can say who will fire the first shot of the bull market.
The Gensyn I introduced this time will become the leader in the AI sector. Why? Just listen as I finish introducing the project.
What is Gensyn?
https://www.gensyn.ai/
Official website
Gensyn is a distributed computing network used to train AI models. The network uses blockchain to verify that deep learning tasks have been executed correctly and trigger payments via commands. It directly rewards supply-side participants for committing computing time to the network and performing ML tasks, and the protocol requires no administrative oversight or enforcement, instead facilitating task allocation and payment programmatically through smart contracts.
Gensyn protocol?
The Gensyn Protocol is a layer 1 trustless protocol for deep learning computation that directly and immediately rewards supply-side participants for committing compute time to the network and performing ML tasks. As mentioned above, the fundamental challenge in building this network is validating the machine learning work that has been done. This is a highly complex problem that involves the intersection of complexity theory, game theory, cryptography, and optimization.
A simple solution is to check the worker's honesty by redoing the job. At a minimum, this requires doubling the required operations ("single replication"); however, even with replication, trust issues remain unless the validator is the actual requester of the work (in which case they do not request the work , since they just execute themselves). Therefore, ensuring the honesty of validators can result in infinite replication chains, where each new validator needs to check the work of the previous validator.
Financing situation
Gensyn has completed two financings in total. The first occurred on March 21, 2022, led by Eden Block and composed of Galaxy Digital, CoinFund, Maven11, Hypersphere Ventures, Zee Prime Capital, Entrepreneur First, Jsquare, Counterview Capital, 7percent Ventures , Id4 Ventures and many institutions participated in the investment, with an amount of up to US$6.5 million.
The second time occurred on June 11, 2023. This time it was led by a16z and included CoinFund, Canonical Crypto, Protocol Labs, Eden Block, Jsquare, M31 Capital, Zee Prime Capital, Maven11, Id4 ventures, anand iyer and many other institutions. , the scale of this financing is as high as US$43 million.
The second financing made a16z more optimistic about the development of the project. On August 26, a16z’s Token Economics researcher Jeff Amico announced that he had joined the portfolio company Gensyn as the director of operations in the form of cooperation to help Gensyn cope with the creation of The operational and legal challenges posed by a new computing infrastructure.
Mainnet
After successfully launching the parachain on the Kusama relay chain, the next stage will be to launch the final live parachain on the Polkadot relay chain. This phase will include the launch of the mainnet utility token, which will become the protocol’s main utility token. Mainnet will be a strengthened, real-time protocol for full use by any organization or individual. Features or changes will be iterated through testnet and canarynet before launching on mainnet.
ecosystem
The Gensyn protocol will become the base layer for ML computing, similar to Ethereum for smart contract execution. Going forward, we hope that others will build on top of the protocol to provide rich user experiences and specific functionality in numerous niche markets. We expect this emerging ecosystem to start with applications based on expert knowledge, allowing non-experts to build and deploy ML solutions using abstractions similar to existing Web2 solutions such as Amazon's SageMaker and DataRobot.
In addition to human knowledge in model design, there are three fundamental issues that slow down progress in applying ML:
Gensyn solves the first problem by providing on-demand access to globally scalable computing at fair market prices. The Gensyn Foundation will seek to encourage solutions to the second and third issues through research, funding, and collaboration with other protocols.
long term vision
The Gensyn protocol will enable anyone to train ML models for any task using self-organizing networks that encompass all existing sources of computing power.
As Web3 Dapps increase in complexity and infrastructure requirements, they are forced to fall back to Web2 where Web3 resources do not exist. By decentralizing ML computing, the Gensyn Protocol brings an important infrastructure component to Web3 - reducing reliance on Web2 and further strengthening and decentralizing the entire ecosystem.
Deep learning has shown incredible generalization capabilities and looks set to play a major role in the future of ML. Base models trained on the Gensyn protocol will be decentralized and globally owned – allowing humans to benefit equally from collaborative ML development and training. Building on these foundational models with nudges is as simple as defining the task and paying a fair market price for the nudge work—removing the barriers that currently exist.
Over the decades, ML has made advances in both academic and industrial settings. The Gensyn Protocol connects these silos through a common infrastructure with decentralized ownership, enabling all of humanity to quickly explore the future of artificial intelligence together as equal pioneers. Combining this network with hierarchically trained and collectively owned base models provides a path toward truly achieving AGI—the next step for humanity.
Project Benefits
This project is fully supported by a16z, which provides both financial and manpower resources. With the participation of a16z personnel, the upper limit of project operations and product capabilities has been improved.
The financial support for this project is very abundant, especially the second financing event led by a16z, which was US$46 million. The institution also valued the project at US$240 million. The amount of financing is for the development stage, and the R&D investment and operating costs will be very large, which also gives a higher ceiling to the project's price.
Bet on the future of the AI sector. The narrative nature of AI will never stop. Now the AI sector is developing very rapidly. The innovation of new iterations and new technologies is fleeting. Therefore, currently the AI sector with strong narrative nature is the largest. highlights.
a16z said that recent advances in artificial intelligence are incredible and have the power to save the world. But building AI systems requires deploying greater computing power to train and infer today’s largest and most powerful models. This means big tech companies have an advantage over startups in the race to extract value from artificial intelligence, thanks to privileged access to computing power and the economies of scale of large data centers. To compete on a level playing field, startups need to be able to affordably use their own large-scale computing power.
The advantages of choosing Polkadot's three networks and three different stages to develop for different networks will help projects in the AI sector optimize metadata, perform probabilistic verification of machine learning training, and deterministic machine learning work proven on the chain. Perform accurate validation and parallelize machine learning models on heterogeneous hardware with latency constraints. There are additional considerations for deploying development nodes.
Summarize
The narrative that the AI sector has become a bull market has become a fact, and gensyn itself is making algorithms for chatgpt. With the iteration of chatGPT, computing power companies like Gensyn will also be used in this kind of computing power. This time gensyn also brings technology Changes can increase computing power by 10 times or even a hundred times. You must know that today's chatgpt can answer questions within a few seconds. If it increases by ten times or even a hundred times, it will reach a terrifying state.
Of course, fast computing speed is definitely not the only advantage. Its most outstanding feature is that it can greatly reduce computing costs.
The cost of a single training session of GPT-3 in 2020 is approximately US$12 million, which is more than 270 times higher than the estimated value of GPT-2 training in 2019 of approximately US$43,000. Generally speaking, the model complexity (size) of the best neural networks currently doubles every three months. The hourly cost of Gensyn's machine learning training work is about US$0.4, which is far lower than the costs required by AWS (US$2) and GCP (US$2.50). Gensyn wants to use technologies such as blockchain to implement an efficient computing protocol for decentralized large-scale distributed deep learning, with probabilistic learning proofs and cryptocurrency incentive mechanisms.
This time our company has also secured a large amount of quota for everyone. The most important thing is that after communicating with the institution, we will not lock the position this time. No lock. No lock.
Token name: gensyn
Sector: AI Computing
Investment institutions: A16z actively seeks investment.
EdenBlock (Block Eden) led the investment in GalaxyDigit (Digital Galaxy Venture Capital) Maven11 (No. 11 Expert Fund), Coinfund (cion Fund), Hypersphere (Hypersphere Venture Capital), ZeePrime (Zeep Frost Fund) followed the investment
Series A financing of US$6.5 million
A16z invests US$46 million
Current valuation: US$270 million
Start A+ round of financing immediately
Estimated valuation: 800 million
Circulation volume: 1 billion
Launch: Estimated December 2023
Binance Ethereum first launch
Release rules: No lock-up