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Near Protocol, a decentralized blockchain platform, recently announced its ambitious open-source Artificial Intelligence (AI) project. Unveiled at the Redacted conference in Bangkok, the initiative aims to revolutionize the open-source AI landscape and promise new opportunities for innovation and collaboration.
The Near Protocol Decentralized AI Solution
The upcoming AI model will be the result of a crowdsourced collaboration, with thousands of participants contributing to its creation. The effort will be powered by the newly launched Near AI Research Hub, which enables contributors to engage in the model’s development.
Starting on November 10, participants will train a smaller model with 500 million parameters. As the project progresses, they will work on increasingly complex models. The ultimate goal is to contribute to the massive 1.4 trillion-parameter model, which is 3.5 times larger than Meta’s Llama model.
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In a powerful speech, Edward Snowden emphasized the need for decentralized AI to prevent a future controlled by corporate agendas. He warned that if AI is monopolized by one company, it would undermine decentralization. Snowden stressed that Web3 principles remain relevant if AI follows the same ideals.
The process will be designed to be both collaborative and competitive. Only the most skilled and capable participants will be selected to work on more sophisticated models, ensuring a merit-based progression system.
Near Protocol will use Trusted Execution Environments (TEEs) to secure data and protect privacy. This approach aims to ensure sensitive information stays safe while rewarding contributors with ongoing updates as the technology evolves.
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A Business Model for Sustainable Growth
Near Protocol co-founder Illia Polosukhin revealed that the $160 million required to train the expansive AI model will be funded through token sales. These funds will cover the high costs of training and computational resources.
In return, token holders will receive compensation from the revenue generated by the AI model’s inferences. This will create a self-sustaining loop in which profits are reinvested into future developments.
Polosukhin highlighted that this innovative business model is fully operational, allowing Near to raise capital while ensuring long-term sustainability. He noted that participants can reinvest in the next phase of model development.
Near Protocol Faced a Notable Technological Challenge
The scale of Near Protocol’s AI project is immense, which has led to a huge challenge. The platform revealed the major challenge of the vast computational power needed to train such a large model. Tens of thousands of GPUs would be required in one location, creating significant logistical issues.
Despite these challenges, co-founders Polosukhin and Skidanov remain hopeful. Skidanov cited emerging DeepMind research suggesting decentralized AI could transform the process.
