- It is a global mega-network for machine learning
- She runs on the blockchain
- And will provide decentralization to AI developers
British startup Gensyn closed another round of funding for $43 million. The venture capital giant a16z, as well as CoinFund, Canonical Crypto, Protocol Labs and Eden Block, invested in the project.
Gensyn was founded in 2020 by the British Ben Fielding and Harry Grieve. Its main product is a protocol that allows developers to create and implement additional AI features.
It is important that the project uses a decentralized cryptographic network. Gensyn is a first-level decentralized blockchain built on the Substripe protocol. As one of the founders of the company, Harry Grieve, notes, the big advantage of their project was “unlimited scale and very low cost of verification.”
The protocol of the company should work on the principle of pay-as-you-go. This is a payment for actual use, not in the form of a subscription. Developers will connect machine learning hardware from all over the world via blockchain and offer their product to engineers, developers, researchers and scientists. At the same time, participants will be able to decentralize to see if this system has successfully passed the machine learning process.
Now projects related to neural networks are at the peak of popularity. For example, AI startup Pinecone recently raised $100 million in a Series B round.