Gensyn is a layer 1 blockchain built on Polkadot that provides a decentralized computing network for machine learning (ML) applications. The platform aggregates underutilized GPU, TPU, and CPU power, giving developers access to resources at a reasonable cost.
How Gensyn Works
Training machine learning models requires a large amount of computing resources, especially GPUs. The current GPU rental market is dominated by large enterprises, leading to high costs and limited accessibility for small and medium-sized businesses. Gensyn solves this problem by creating a shared computing resource network that connects devices from data centers to personal computers, providing a more efficient and flexible solution.
The platform is designed with an open source architecture, with four main components:
Submitter: Technicians, developers, or researchers who need to use Gensyn's computing power to build ML models. They set requirements such as model type, required parameters, and budget.
Solver: An individual or organization with excess computing resources that contributes to the Gensyn network. Solvers accept tasks and respond to Submitters' requests. Upon completion, they receive a "proof-of-learning" to prove their contribution.
Verifier: The entity responsible for checking the correctness and quality of the computational power from the Solver through "proof-of-learning".
Whistleblower: Monitors the Verifier's work process to ensure no fraud occurs.
This model allows Gensyn to provide shared computing solutions with cost savings of up to 80% and 10 to 100 times more computing power than traditional providers. This opens up opportunities for developers to access resources at reasonable prices, promoting innovation and diversity in the machine learning industry.
Gensyn Development Roadmap
Gensyn is expected to develop in three main phases:
Testnet: Deploy a test version, encourage users to participate in testing and debugging. During this process, Gensyn will organize an airdrop program for early users.
Canarynet: After completing the testnet, the protocol will launch in beta as a parachain on the Kusama blockchain.
Mainnet: Launch the official version on Polkadot and conduct the TGE (Token Generation Event).
Gensyn Team, Investors and Partners
Project team: Gensyn is developed by members with many years of experience in the technology field, notably:
Ben Fielding: Co-founder, PhD in Computer Science from Northumbria University, with experience in AI and Machine Learning.
Harry Grieve: Co-founder, MSc in quantitative economics, former angel investor in AI-related projects such as Modulus Labs.
Investors and partners: Gensyn has gone through three rounds of funding with a total raised of $50.6 million:
Series A: June 2023, raised $43 million from funds such as a16z, CoinFund, Maven 11 Capital.
Seed: March 2023, raised $6.5 million from Eden Block, Galaxy, CoinFund.
Pre-Seed: January 2021, raised $1.1 million from 7percent Ventures, Entrepreneur First, Id4 Ventures.
Notably, a16z not only led the Series A funding round but also announced a strategic partnership with Gensyn, aiming to build accessible and scalable AI infrastructure for the community.
Similar projects
Some projects with similar operating models to Gensyn include:
Uplink: Connectivity infrastructure that allows users to access the Internet at low cost anywhere.
BlockMesh: Protocol to mine excess bandwidth from users to fuel the development of the AI industry.
With a unique operating model and support from prestigious investment funds, Gensyn promises to bring effective decentralized computing solutions to the field of machine learning, contributing to promoting the development of the AI industry in the future.
Source: coin98