NEAR Protocol Develops 1.4 Trillion-Parameter AI Model

user avatar

by Giorgi Kostiuk

2 years ago

At its conference in Bangkok, NEAR Protocol announced the creation of the world's largest open AI model with 1.4 trillion parameters.

Development of AI Model

The NEAR project will be supported by crowdsourced research and contributions. Thousands of participants worldwide will collaborate to develop and enhance the model. The process will be accessible through the NEAR AI Research Hub, where users can start by training a smaller 500 million-parameter model.

Monetization and Privacy

One aspect of the model is its business model. NEAR Protocol has reportedly designed a sustainable framework that includes monetizing the model through token sales, intended to fund the costly training and computational needs. Co-founder Illia Polosukhin explained that tokenholders would be reimbursed through the inferences generated by the model. The model will use Encrypted Trusted Execution Environments (TEEs) to safeguard the privacy of participants and users.

Creating a sustainable business model is key for financing large-scale AI projects.Illia Polosukhin

The New AI Assistant

In addition to the model, NEAR Protocol introduced an AI Assistant demonstrating the capabilities of its new AI infrastructure. Polosukhin showcased how the assistant can create a memecoin, design a website, and even search for custom T-shirt printers. In the future, the assistant will be able to book flights, order food, and interact with Web2 services through the blockchain. A key feature is chain abstraction technology, allowing asset swaps across different blockchains.

NEAR Protocol offers new opportunities for AI development with models and assistants for integration with existing systems.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Polygon Labs Completes Acquisition of Coinme

Polygon Labs has finalized its acquisition of Coinme, enhancing its payment capabilities with numerous state licenses.

user avatarArif Mukhtar

Bitcoin Open Interest Sees Slight Decline While Funding Rates Remain Positive

A recent snapshot of the Bitcoin derivatives market revealed that open interest has decreased by 0.69% over the past 24 hours, now standing at 768 billion. Despite this decline, the funding rate remains positive at 0.00035 per eight-hour interval, suggesting that long positions are still willing to pay shorts on perpetual contracts.

user avatarMaria Gutierrez

French Lawmakers Approve Amendment on Crypto Taxation

French lawmakers have approved an amendment to the 2027 budget that changes the taxation of gains when converting cryptocurrencies to stablecoins.

user avatarDavid Robinson

US Spot Ethereum ETFs Face Major Withdrawals Amid Market Shifts

US spot Ethereum ETFs faced net withdrawals of $3.201 billion in mid-October, surpassing Bitcoin fund withdrawals.

user avatarAndrew Smith

Richard Heart Detained in Istanbul Linked to Finnish Tax Investigation

Richard Heart, founder of HEX and PulseChain, has been detained by Turkish authorities in connection with a Finnish tax investigation.

user avatarJacob Williams

TD Cowen Increases Strive's Share Price Target Amid Bitcoin Holdings Surge

TD Cowen analysts raised Strive's share price target from 44 to 56 due to significant expansion of Bitcoin holdings to 35,595 BTC, noted in a research update on October 16.

user avatarZainab Kamara

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.