DeepBrain Chain

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Discover DeepBrain Chain's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is DeepBrain Chain?

DeepBrain Chain (DBC) is a blockchain-based platform that provides a decentralized, high-performance GPU computing network. It aims to reduce computing costs by up to 70% and supports various industries such as AI training and inference, cloud gaming, and blockchain zero-knowledge computing. The platform uses a hybrid consensus mechanism of proof of importance and delegated proof of stake, and its mainnet was launched on May 20, 2021. DBC tokens are used to power the platform and are generated through a mining process similar to Bitcoin's proof of work.

How is DeepBrain Chain used?

DeepBrain Chain (DBC) is a cryptocurrency token that powers a decentralized, low-cost, and private artificial intelligence (AI) computing platform. The platform pools computer resources from individuals worldwide to provide computational resources, aiming to reduce the high costs of AI computing power for companies. Miners contribute their computing power to the network and are rewarded with DBC tokens and Neo Gas (GAS) for their work.

DBC tokens serve as the universal currency within the ecosystem, facilitating participation from various AI players, including developers, universities, computing power providers, and data providers. The tokens are generated through a mining process similar to Bitcoin's proof of work, with a total supply of 10 billion.

The DBC network consists of a high-performance computing network, a blockchain mainnet, and a GPU computing mainnet. This infrastructure supports AI training and inference, cloud gaming, rendering, and other high-performance computing applications. The platform also integrates AI and metaverse capabilities, allowing for fast and secure processing of complex graphic operations.

Miners play a crucial role in the DBC network by providing computing power, which is rewarded with DBC tokens. The mining process is designed to generate a certain number of tokens over time, with a halving mechanism to control the supply.

Overall, DBC tokens are used to facilitate the decentralized and cost-effective provision of AI computing power, promoting the development and adoption of AI technologies.

How do I store DeepBrain Chain?

To store DeepBrain Chain (DBC) tokens, you have several options:

  1. MetaMask Wallet: MetaMask supports DeepBrain Chain, allowing you to manage your DBC funds directly within your web browser.

  2. MathWallet: MathWallet is a multichain wallet that supports DBC, enabling token storage, sending, and exchanging on your mobile device.

  3. Trust Wallet: You can store your DBC on Trust Wallet, which is a popular crypto wallet that supports various cryptocurrencies.

  1. Binance Wallet: You can also store your DBC on Binance Wallet, which is a secure and convenient option for managing your DBC holdings.

  2. Cold Wallets: For long-term storage and maximum security, consider using cold wallets like paper wallets or hardware wallets. These are offline and provide an additional layer of protection against hacking and exchange shutdowns.

Choose the wallet that best fits your needs based on factors such as security, convenience, and features.

How to buy DeepBrain Chain?

To buy DeepBrain Chain (DBC) tokens, follow these steps:

  1. Create an account on a cryptocurrency exchange:

    • Choose a reputable exchange like KuCoin, Binance, or MEXC.
    • Sign up by providing necessary information, including your email address and a secure password.
    • Complete any required identity verification steps.
  2. Fund your account:

    • You cannot buy DBC directly with fiat currency. Instead, purchase a cryptocurrency like Ethereum (ETH), USDT, or BNB that can be easily exchanged for DBC.
    • Use methods like credit cards, debit cards, bank deposits, or peer-to-peer trading to fund your account.
  3. Transfer funds to the exchange that supports DBC:

  • If you purchased ETH or another supported cryptocurrency on a different exchange, transfer it to the exchange that lists DBC, such as KuCoin.
  1. Buy DBC:

    • Navigate to the exchange's trading platform and select the DBC trading pair (e.g., DBC/ETH or DBC/USDT).
    • Choose your desired order type (market, limit, stop, or TWAP) and execute the trade.
  2. Transfer DBC to your wallet (optional):

    • For long-term storage, consider transferring your DBC to a personal cryptocurrency wallet like Trust Wallet or a cold wallet for added security.

Remember to research the exchange's fees, reputation, and available trading pairs before making a purchase.

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History of DeepBrain Chain

DeepBrain Chain (DBC) is a blockchain-based platform that provides a secure and cost-effective way to train and use artificial intelligence (AI) models. It was founded by Yong He in May 2017. The platform is built on top of the NEO system and proposes a unique mining mechanism that rewards miners for providing computing power instead of doing meaningless computation that leads to wasting power. Miners get paid in DeepBrain Coin ($DBC) for the work they provide on the network that goes toward AI computational needs. They also get paid in Neo Gas (GAS) since DeepBrain Chain is on the NEO platform. GAS is the fee AI companies pay to use DBC.

DeepBrain Chain won the Innovation and Creativity Award in the 2017 ZhongGuanCun Second Blockchain Competition, which was led by Yong He. The project had an Initial Coin Offering (ICO) on December 14, 2017, where it raised funds by selling DBC tokens and sold out within one hour. The DBC token serves as the universal currency of the platform, maximizing participation from various AI players in the ecosystem all around the world, including developers, universities, computing power providers, SMEs, financial institutes, and data providers.

In terms of its roadmap and development, the DeepBrain Chain (DBC) Token Sale & Whitepaper 1.0 was released in August 2017, and in December 2017, DBC was listed on exchanges. In February 2018, a research laboratory in Silicon Valley was established to achieve AI training in the P2P network. In 2019, the DBC AI training platform was launched, further expanding the capabilities of the network.

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How DeepBrain Chain works

DeepBrain Chain (DBC) is a decentralized AI computing platform that leverages blockchain technology to provide high-speed, secure, and cost-effective sharing of computing resources among AI developers. The platform addresses the challenges of high computational costs and data privacy concerns faced by AI development by leveraging the power of decentralized computing and data sharing.

Key Components
  1. High-Performance Computing Network: This network contains high-performance computing nodes that can provide computing power for various industries, including AI training and inference, cloud gaming, rendering, blockchain zero-knowledge computing, and more.

  2. Blockchain Mainnet: The blockchain mainnet is the core of the platform, ensuring secure and decentralized transactions.

  3. GPU Computing Mainnet: This mainnet is specifically designed for GPU computing, allowing for efficient and decentralized processing of complex graphical operations.

Token Generation and Mining
  • Token Generation: DBC tokens are generated through a process similar to Bitcoin's proof of work, where 50% of tokens are generated through mining. The first three years of mining generate a total of 500 million DBCs per year. From the fourth year, the mining production reduces by half every five years.

  • Mining: To mine tokens, users need to participate in the network as computing power providers. The network operates under a bidding system, where the more competitive the price offered, the more likely the provider is to take on extended periods of training and receive higher rewards.

Governance and Funding
  • Governance: The governance of the DeepBrain Chain network is planned to be opened to the community. The DeepBrain Chain Council, elected by the community, will be responsible for approving the DeepBrain Chain treasury budget.

  • Funding: The project is funded through its tokenomics. The DBC token serves as the universal currency of the platform, maximizing participation from various AI players in the ecosystem. The project also had an Initial Coin Offering (ICO) where it raised funds by selling DBC tokens.

Usage and Partnerships
  • Usage: Users can leverage the network as AI users or GPU power providers. AI users can use the decentralized AI computing platform for various AI products, while GPU power providers can rent out their GPU compute on DeepBrain Chain and set their own rates.

  • Partnerships: The project has partnerships with companies like Huawei, Polygon, and cloud gaming providers, ensuring a wide range of practical applications in AI, cloud gaming, and cloud e-sports fields.

Technical Details
  • Multichain Network: The multichain network of DBC is broken down into the Parent Blockchain (DeepBrain Chain), Relay Nodes, and Worker Chain (Side Chain). The Parent chain transfers information to all Worker Chains, while the Relay chains connect Parent chains with Worker chains.

  • Blockchain Technology: The platform uses blockchain-built systems to provide cheaper services powered by decentralized nodes, reducing waste of redundant capacity and allowing people with lower capacity devices to carry out complex procedures.

  • GPU Integration: The platform integrates GPUs to process several computational activities at the same time, providing faster and more efficient processing of complex graphical operations.

  • AI and Metaverse Integration: The powerful imagery processing permits AI tools and those related to virtual spaces to be plugged into the infrastructure, supporting games, manufacturing systems, and other business-related activities that require AI and virtual imaging.
Roadmap and Progress
  • Roadmap: The project aims to scale its network to more than 500,000 GPUs, making it one of the largest distributed high-performance computing power networks in the world.

  • Progress: The project has made significant progress, including the launch of its mainnet blockchain, the GPU computing power mainnet, and partnerships with various companies and service providers.

Overall, DeepBrain Chain is a decentralized AI computing platform that leverages blockchain technology and GPU computing to provide cost-effective and secure computing resources for AI development.

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DeepBrain Chain's strengths

DeepBrain Chain (DBC) is a decentralized neural network that leverages blockchain and artificial intelligence (AI) technology to provide a low-cost, private, flexible, and secure platform for AI development and trading. The strengths of DBC include:

  1. Scalability: DeepBrain Chain aims to build an infinitely scalable, distributed high-performance computing network, which can efficiently handle the increasing demand for computing power in AI applications.

  2. Cost Reduction: By utilizing blockchain technology, DBC aims to reduce the cost and improve the efficiency of AI computing power worldwide, promoting the democratization of AI computing power.

  3. Integration of AI and Blockchain: The platform combines the benefits of blockchain and AI, creating a unique ecosystem that supports the development and trading of AI models.

  1. Potential for Growth: Long-term price predictions suggest that DBC could reach significant highs, such as $0.514 in 2026 and $0.784 in 2030, driven by the increasing adoption of AI and blockchain technology.

  2. Strong Community: DeepBrain Chain has a dedicated community and a well-established infrastructure, including a wallet, a blockchain explorer, and partnerships with various cloud computing services.

These strengths position DBC as a promising cryptocurrency project with a focus on AI and blockchain integration.

DeepBrain Chain's risks

DeepBrain Chain (DBC) carries significant financial risks. According to InvestorsObserver, DBC receives a high risk rating due to its potential for price manipulation by limited trading activity. This assessment is based on the proprietary scoring system, which evaluates the amount of money required to move the price over the past 24 hours, considering changes in volume and market capitalization. The score ranges from 0 to 100, with low scores indicating high risk and high values indicating low risk.

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Did DeepBrain Chain raise funds?

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DeepBrain Chain’s team

  • CEO Feng He: An expert in artificial intelligence, known for developing the world’s first artificial intelligence sound box (Small Zhi), China’s first cloud brain system (DeepBrain), and leading the research and development of the first Chinese voice assistant (Smart 360) with a userbase of over 17 million.
  • CTO Shu Chang: An expert in AI, blockchain, and cryptography, previously the Director of Artificial Intelligence Laboratory of Shanghai.
  • CMO Chuanfeng Lee: One of the first entrepreneurs in the AI space in China, involved in Bitcoin and blockchain research, and led the marketing for Smart 360, helping it reach a userbase of over 17 million.
  • Chief AI Officer Dongyan Wang: Executive VP of DeepBrain Chain Silicon Valley AI + Blockchain.

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The fundamental analysis assistant for crypto value investors.

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