McKinsey Global Institute estimates that companies spent up to $39 billion in 2016 for developing machine learning solutions. If you are automating your systems using machine learning AI, it requires tremendous computational power to solve some of the greatest problems you might face in the process.
But blockchain technology has a viable, cheaper, and faster solution for the companies that require machine learning solutions for automation. This is where TensorBit comes in, with a service that is all set to transform the AI race for the best and fastest solutions.
We are currently witnessing the integration of two technologies that are slated to transform the future of our world.
TensorBit In The Blockchain
Most of the current technology in the machine learning sphere requires that the user dedicate much of their time and computational power for such futile exercises as working out hash functions while working on machine learning solutions.
The solution: a new neural network that utilizes individual miners on the blockchain to provide the distributed computational power to solve machine learning computations. This leads to a hierarchical deep structure and develops a tensor deep stacking for efficiencies.
With this model, training a self-driving car can take anywhere from few seconds to minutes compared to the hours and days it takes currently.
The Proof Of Work Concept
The TensorBit architecture essentially requires the proof of work concept to satisfy two criteria in the machine learning blockchain.
- The work must be provable and not fake.
- The work must be done in a reasonable way, which essentially means that the individual nodes cannot put into the solution more work than the original problem requires.
Both criteria are verified and ensured with the individual mining participants in the TensorBit blockchain, who are all equipped with the same calculations that will calculate the best score possible, thus constituting a collective voting system for the success of the overall outcome.
Building On The Foundation
Building on the foundation of the proof of work concept and the smart contracts is the API layer that will enable the companies that require the service to integrate with the proof of work concept to find the solutions for their machine learning problems.
The API will also be equipped with a package library that will notify the companies of the amount of computational power their machine learning problem is guzzling in the blockchain.
The best part is that when you are using the TensorBit blockchain, you are priced according to the computational power your solution requires.
Faster And Cheaper Machine Learning On The Blockchain
The blockchain neural network is blazing fast compared to the existing counter parts like the NVDA Pascal, NVDA Titan, or the AMD Vega by a factor of up to 20 or more in speed tests conducted in about 5,000 randomly generated datasets. And training that requires 50-60 minutes of processing time will be reduced to a matter of few minutes with the TensorBit Neural Blockchain.
Setting up isolated high performance machines to run machine learning solutions can run into hundreds of thousands of dollars, but the neural blockchain can be accessed and used for a fraction of the cost.
All of these are great advantages to the companies involved in the AI patent race for solutions.
The TensorBit ICO Awaits
There will be a total issuance of 100 million TENBs that are based on the Ethereum blockchain. There will not be any future issuance of the tokens, and they are pegged at an exchange value of 1 ETH for 500 TENBs.
The TensorBit Future
The proof of work concept will be opened to some data scientists in the initial phases to determine that proof of work is achieved in the neural network. This will help the team benchmark speed and the quality of solutions.
The beta phase will involve further testing before the service will be opened to companies for hiring the service.
AI’s Future In The Blockchain
We are convinced that the future of AI is in the blockchain. If we are right, TensorBit will skyrocket to success on the power of blockchain-backed machine learning.