DeepBrain Chain (DBC) was one of the first ICOs on the NEO blockchain. Essentially, this blockchain application is a computing platform created to support the creation of AI algorithms. The barriers of entry to the AI industry are high due to the high cost of making AI computations, and the team behind the DeepBrain Chain platform aspire to lower the cost of these computations by as much as 70%.
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The DBC platform presents itself as a decentralized neural network. A neural network is a commonly used term in both human physiology and AI describing the complex system of simple processing elements that can obtain, store, and employ data. When talking about AI and DBC, this comes down to the nodes of the DBC network that supply the computational power for AI. In return for this computational power, nodes are rewarded DBC tokens.
Besides supplying the computational power needed to power and develop AI, the DBC platform will also offer a secure data trading platform. Anyone is allowed to buy and sell data on the marketplace which offers strong security. The use of blockchain technology prevents data leakage, reselling, data ownership and data usage rights.
On March 16, the DBC Foundation announced a 40 million DBC token buyback.
DBChain Foundation would like to make the following repurchase announcement: pic.twitter.com/fnrWGosKn0
— DeepBrainChain (@DeepBrainChain) March 17, 2018
The given reasons for this are the Foundation’s belief that DBC is undervalued at the moment and as a signal of their confidence in the potential and quality of their project. This news followed an earlier announcement of extending the lock-up period, which means that no new DBC tokens will be released to the market.
Goals and Plans
The goal of DeepBrain Chain is to provide a more efficient and cost-effective way forward for AI development. Utilizing the blockchain to access computing power, DeepBrain Chain creates a decentralized ecosystem that incentivizes provision of processing power and data sets for a reward. Idle computing nodes can be deployed for use by developers to earn DeepBrain Coin (DBC) in return. The decentralized network drastically reduces costs for developers because there is no need to acquire more hardware to access larger amounts of computing power. It also dramatically increases the scalability of AI development through access to exponentially greater computing power via the blockchain, meeting another fundamental demand of the industry. Lower costs combined with higher processing capabilities will reduce the difficulty faced by many companies with AI use cases for implementing the technology, spurring development and adoption in turn.
Why DeepBrain Chain?
Artificial Intelligence products require neural network calculation in order to train models. In order to do so, data model training process consumes a large amount of computing resources. In order to achieve better product index, AI products needs massive data to train and as a result more computing resources are resources are required.
This leads to the fact that many manufacturers have to invest a lot of money to purchase GPU, FPGA, and other hardware resources, directly causing the artificial intelligence chip provider’s, e.g. NVIDIA’s, share price to rise rapidly.
By the use of Blockchain technology, DeepBrain Chain aims to provide a low-cost, private, flexible, secure and decentralized artificial intelligence computing platform to artificial intelligence products.
What does DeepBrain Chain offer?
- Low cost: DeepBrain Chain aims to reduce the cost of hardware input as the GAS fee each enterprise needs to pay is far less than the intrinsic fee.
- Optimization: DeepBrain Chain is currently optimized on CUDA GPU and plans to dock the current mainstream deep learning framework, such as TensorFlow, Caffe, CNTK, and so on.
- Highly concurrent: DeepBrain Chain uses unique load balancing technology, each node container can cooperate with each other to share concurrent pressure.
- Privacy: By using the smart contract, the blockchain technology makes it possible to separate data ownership and usage rights.
- Flexible computing: Frequency at the time of peak hours can be 10 times more when compared to non-peak hours. DeepBrain Chain can adjust itself automatically by fast replication to multiple idle nodes at the peak hours.
Currently, the project is way too underrated and with the growth of NEO and the advancement in the technology, I feel the potential of this coin is far more than where it stands currently.
My price predictions for EOY, bring practical is $.1- $.5 USD. It’s gonna give major returns on a long-term hold. The developers are currently worried about the underrating of the coin, hence we may see some big announcements which can even drive the price more than the predicted one. Let’s hope for the best and see how this coin develops in the upcoming days.
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