DeepBrain Chain held their public crowd sale today, distributing 420,000,000 DBC tokens. The total allocation sold out in 3 hours and 30 minutes and raised approximately 140,000 NEO. DeepBrain have a total token supply of 10 billion, 10% of which is reserved for the DeepBrain team, 6% was sold during a private presale, 25% will be allocated to the DeepBrain foundation and ecosystem, 5.8% was sold during public presale, and the remaining 50% will be mined. This was the third token sale held on the NEO blockchain.
DeepBrain is using blockchain to develop a decentralized, low-cost, private AI computing platform that describes itself as a ‘decentralized neural network’. The AI industry is growing at an increasing pace and size of data required for machine learning can put the cost of computing resources out of reach for small to medium size companies. DeepBrain seeks to solve this problem through allowing network participants to provide computational power through mining. The Proof of Work mining process is very similar to the process used in artificial intelligence, that is solving equations and algorithms, so by lending computational power through a distributed network, DeepBrain feels they can reduce AI computational costs by up to 70%.
DeepBrain will also use smart contracts to seperate data usage from data ownership, something that is not possible with existing solutions, along with building a data marketplace for trading data.
DeepBrain already has matured AI products on the market. In 2012 they released the first Chinese voice assistant called “Smart 360”, which predated the Chinese Siri by six months. In 2014, DeepBrain released the world’s first AI speakers called “Small Zhi”, which also beat Amazon Echo to the market by six months. The DeepBrain operating system behind both these products is now used by notable companies such as Huawei, Lenovo and Microsoft.
The DBC token will have multiple utilities such as purchasing computing power, purchasing data on the market and rewarding network miners. DeepBrain have also announced that DBC will be listed on HUOBI, Kucoin and LBANK around December 23rd.