Synapse AI: Putting a data marketplace on the blockchain!
Synapse AI… What should I say about it? For weeks, it has been an unknown artifact, hidden inside of the ocean of awful ICOs.. Till… Now! Synapse AI offers a revolutionary solution for the data market. Not only will it allow users to contribute information to the system in exchange for compensations, it will also offer many more features for you to explore!
With the ever-growing amount of internet consumption around the globe on their side, Synapse AI offers a data marketplace/exchange on the blockchain! The system is pretty complicated, which is why I’ll dedicate a whole section of my article to that. You, as a user, won’t have to experience these complications though, as its system won’t be much harder to understand than understanding “Contribute data. Get paid. It’s that easy”, if you’d believe their official site: https://synapse.ai/
The Synapse AI system
I will be explaining the 4 most important components of the system here: The Data Pools, The Agents, The Models and the services and their correlations of course.
Data Pools are sources of information, often linked to other sources of information. These pools can be contributed to by any participant of the system, including Agents, which will be spoken more thoroughly about later on. The data pools can either be private or public and their data can be used by models to improve themselves.
Agents are another important component of the Synapse AI system. Agents are essentially any participant in the system. These can simply be consumers, large firms or even autonomous bots. This makes agents quite a diverse group in the system.
Agents can be contracted to acquire information to contribute to data pools. Agents can also create data pools and gain information from them.
Models, the third component of the system, are the main AI aspect of Synapse AI. A model is the machine learning of behaviour of a complex system. In its purest essence, it’s the learning process of a piece of AI. These are mostly neural networks, which learn quickly by analysing the information of data pools.
Services are a kind of compensation for the work agents complete. Services can be offered by multiple parts of the system, including agents. Services can be offered, negotiated on and sold on the marketplace, as models or simply data.
A reasonably large simplification would turn the system of Synapse into this picture:
This isn’t the full explanation, as it was somewhat simplified to the essence of it.. If you desire a more detailed explanation, showcasing all aspects of Synapse AI, I recommend reading the whitepaper: https://s3.amazonaws.com/synapseai/whitepaper/whitepaper.pdf
Token Distribution
In total, 1 billion tokens will be created. 330 million tokens will go to the company, an equal part will be sent to the “developer funds” and 330 million tasty tokens will be sold in the Token Sales of Synapse. The remaining 10 million tokens should cover the costs of the token sales.
Normally, a much larger percentage of the tokens is sold in Token Sales, but Synapse plans to sell only about ⅓ of the tokens in the Token Sales. An additional detail to the Token Distribution would be the bounty campaign, which takes about 2 million tokens from the Company’s share of the tokens.
ICO Details
The ICO will last for a relatively long time, in multiple tiers. The pre-sale has ended already, but the first tier of the ICO will last until november the 21th of 2017. The second and third tiers of the ICO will be available in Q1 of 2018. The earlier you invest, the more bonuses you will obtain, which means you’ll make more profit if you invest early on.
The main ICO will run for 30 days or for 2 days after the soft cap of $50 million has been reached. Token disbursement will happen 2 months after the Token Sales have ended, so you’ll have to wait a bit until you can claim your desired tokens.
If you have any questions/concerns or simply want to talk about or discuss Synapse AI, I recommend checking out its official ANN thread on Bitcointalk at https://bitcointalk.org/index.php?topic=2322193.0
And check out their Bounty thread on Bitcointalk at https://bitcointalk.org/index.php?topic=2198555.0 if you want to earn some tasty tokens by participating in its Social Media campaign, Translation campaign, Signature campaign, or anything else to help Synapse and to receive a great compensation.
Written by @pizzachain (or Panda Trump on Bitcointalk)
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Nice one
Thank you, sir. I tried :-)
upvote pls
Why would I? You didn't upvote my post either... And I wrote a good article. You didn't write anything good.
without saying anything its great
thumbs up shows its awesome
img credz: pixabay.com
Nice, you got a 18.0% @minnowbooster upgoat, thanks to @pizzachain
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Great post :D
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