Last Updated on July 25, 2020 by CryptoCreed
The next innovation in data selling & sharing technology: Synapse AI. Although Synapse AI sounds a bit vague and its whitepaper is quite complicated, it has many positive implications for our civilization, that has been expanding more and more into the digital world over the last couple of decades. This development may seem logical and not at all a unique opportunity, but Synapse AI proves the contrary.
As our digital world continues to expand, so does our need to exchange, share, and sell data. A perfect way to do this would be an online marketplace/exchange, on which we could share data, in exchange for a predetermined compensation. This is exactly what the team of Synapse AI noticed when they decided to start the project.
How does it work?
As I’ve mentioned earlier, Synapse is a bit more complicated than your average ICO-utilising project, but it’s comprehensible, as long as you are willing to follow it from the start till the end. Here we go:
The network Synapse AI will be running on consists of multiple parts and roles. One of those roles is the “Agent”. All participants in the system are agents, which means that if you used Synapse AI, you would be an agent. However, bots, firms, and any other kind of participant would be an agent as well.
Like the other parts of the system, agents will be able to contribute to“data pools”, another important component of the system that I will talk more about later in this article. Agents will also have the power to create these data pools and they will be able to use the information inside of them. Agents will also have the ability to be contracted to obtain required or simply wanted information.
Data Pools are used by each component of the system. They are basically “pools” of information, to which other components of the system can contribute to. These Data Pools can either be private or public and are great sources of information.
Another piece of Synapse is the model. Models are basically the “AI” part of “Synapse AI”. These mostly use neural networks, utilising the data pools to acquire information, which is their way of improving themselves.
The last key component I will be talking about here, is the “services” part. Services are the “compensation” the agents are given for their work and are offered, not only by other agents, but also by models. These services can include a wide variety of things, including models & data.
A really significant simplification would turn the system into this picture:
Thus, we can derive from that that it can be simplified to “Agents deliver data, which trains models, offering services to the agents.”. Or use Synapse AI’s official explanation, that can be found on their website ( https://synapse.ai/ ): “Contribute data. Get paid. It’s that simple.”
This isn’t the full explanation. For an even more detailed explanation of how the system works, with all its components, I recommend reading the whitepaper.
The bright future of Synapse AI
With the first stage of its main ICO in progress already, Synapse AI is slowly crawling towards the ETAs of the initial launch of their platform in the spring of 2018. Here is a visual representation of the roadmap:
As you see, the ICO is currently in its first stage. Its second and third stages will be coming in 2018. After that it’s the 4 main phases of the platform that will be released throughout 2018. Synapse AI plans to be fully functional by 2019.
The tokens will not be distributed like they are at the vast majority of the projects. In total, 1 billion Tokens will be created. Of these 1 billion tokens, 330 million go to the Company, 330 million will go to the developer funds and 330 million tokens will be sold in the ICOs. The remaining 10 million tokens are supposed to cover the costs of the token sales. Here is a chart of the distribution:
As you see, there is actually only 33% that’s being sold in the Token Sales, compared to the much larger percentages sold in the vast majority of the ICOs, which often pass the 70s, occasionally passing the 90s.
As you could’ve spotted earlier in this article, there are multiple ICO tiers. The earlier you invest, the more you will get, because of the bonuses, you will get, if you invest in Synapse AI in one of the earlier Tiers of the ICO. Currently, the ICO is still in its first tier, so there’s time.
The main ICO will run for 30 days, or for 2 days after the soft cap of 50 million dollars has been reached. Disbursement of the tokens will happen 2 months after the token sale has ended, which means that you’ll have to wait a bit though, even if you invest in it early on.
There are also a couple of bounties available for you to reap the rewards of. Social Media users, Translators, etc… You are all welcome! Simply go to https://bitcointalk.org/index.php?topic=2198555.0 and apply for what you are able to do.
The ANN thread on Bitcointalk offers the possibility to discuss Synapse AI. Please visit https://bitcointalk.org/index.php?topic=2322193.0
For more information, simply visit the official site, at https://synapse.ai/