Decentralized protocol designed to provide computing power for theartificial intelligence, Gensyn makes a fundraising from 43 million dollars led by a16z. The publisher’s recipe: put the blockchain in the service ofIA.
In a recent report, Coinbase examined the synergies between blockchaincrypto and artificial intelligence. The exchange was particularly interested in crypto projects using decentralized solutions to support AI advances.
The startup Gensyn clearly falls into this category. And while theAI is experiencing a new development cycle, the start-up is registering strong interest in its technologies for pool computing resources for machine learning.
Gensyn brings AI and blockchain together in a growing market
The company achieves a 43 million Series A. This round is led by a leading venture capitalist, a16z. Gensynwhich has raised a total of over $50 million since its inception, has convinced other investors too.
These include CoinFund, Canonical Crypto, Protocol Labs, Eden Block, as well as various other investors positioned either on the cryptoor onartificial intelligence. Gensyn is positioned at the intersection of the two technological universes.
The startup’s slogan: to provide a calculation protocol which unites all the world’s computers in a single global machine learning supercluster or machine learning.
Providing the computing resources essential to AI
AI development is currently booming. However, in order to design models such as Generative AItheir designers need significant computing resources. These are scarce and expensive.
With its protocol, Gensyn allows third parties to provide this computing power.
“Realizing its potential requires enormous computing power,” insists startup co-founder Ben Fielding in a press release. Faced with this challenge, Gensyn orchestrates the management of this resource.
We are harnessing the electricity of a new era and making it available to everyone on an unlimited scale and at fair market prices,” says the company.
Decentralized power consumed on demand
By pooling resources for AI development, the publisher also believes it is helping to reduce bias*.
“The key to useful and aligned AI is to enable everyone to contribute to its development,” says Gensyn. To provide developers with computing resources, the protocol relies on blockchain.
As a P2P network, any device in the world can connect to Gensyn, including underutilized devices such as consumer GPUs, custom ASICs and SoC devices capable of driving neural networks,” the startup details.
For a16z, Gensyn is akin to a marketplace blockchain-based marketplace connecting consumers and suppliers of AI resources.
“Gensyn can potentially multiply by 10 to 100 the computing power available for machine learning”, stresses the VC in an investment note.
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