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Deepbrain Chain and its DBC coin: A starter's guide

Deepbrain Chain and its DBC coin: A starter’s guide

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The Deepbrain Chain project has a highly complex end goal, which basically facilitates the bootstrapping of a blockchain based artificial intelligence computing platform for the industry. The massive amounts of computing power needed will be provided via a decentralized cloud computing network. It’s a cutting-edge idea, blurring the lines of theoretical futurism and achievable technology.

What is Deepbrain Chain?

Deepbrain Chain is a very ambitious project, with the goal of using blockchain technology and cloud computing to create a network with enough computational processing power to make developing artificial intelligence technology more affordable, and feasible. Companies spend about 30 percent of their research and development budgets, on chips, and hardware, just to have the computing power to begin researching AI. Deepbrain Chain aims to bring this cost down by 70 percent, which would stimulate the market and allow for the development of AI products for business.

 

DBC coin price

The Deepbrain Chain platform has a token called Deepbrain Coin (DBC) which will be used as gas, to use on the platform. The DBC token is currently trading for 9 cents per token. There is a total supply of 10 billion tokens, however, the circulating supply is much lower with only 1 1/2 billion tokens available on the open market.

 

DBC Initial Coin Offering

ICO Price

At the time of the crowdsale, the price for DBC tokens was 2200 DBC for one NEO

ICO Review

The DBC token sale was a smashing success which sold out within one hour of the public token sale and sold 600 million tokens in the presale.

 

DBC coin: How it works and its key features

The Deepbrain Chain works by using the collective computing power from thousands of computers across the network to run a “world computer” style distributed operating system. This is specifically geared towards processing massive amounts of data through AI models in order to develop better, smarter, and faster AI.

The communal use of the computing power would cut costs by up to 70 percent, allowing AI based companies to conduct research and development of AI models on a production level. This would normally be unattainable due to the costs of data processing hardware. The network functions by the nodes broadcasting docker images to the rest of the network, and they receive rewards, in DBC tokens, for providing either processing power or data sets. Users run AI models using the datasets, engines, and processing power offered by the platform.

 

DBC coin: Use and utilities

The DBC token is used as gas for the network and will be used to pay for accessing the resources of the Deepbrain Chain. Companies will pay for using the system in DBC tokens.

 

DBC coin: Platform and technology

The way that it works is that participants lend their GPU, FPGA computer processing power or data sets, which they broadcast to the network in the form of a docker image. The algorithm then rewards them for their service.

Users of the platform will pay for the access to computing power to test their AI models, or they will be buying/selling data sets to use for the models. This diagram from the whitepaper makes the idea a little easier to visualize:

Deepbrain Chain and its DBC coin: A starter's guide

 

DBC coin competitors

There is no other platform attempting to accomplish what DBC is trying to accomplish. They are creating a new market from scratch and trying to bootstrap a user base.

 

DBC coin: Team and founders

Deepbrain Chain launched in April 2017 and ICO was held in December 2017. The team, which is based out of Shanghai, is full of experts in AI and technology with several of the leadership roles filled with Ph.D. holders. The team is highly competent in the technology and AI fields. The CEO Feng He presided over the development of the world’s first ever AI speaker box and beat the Amazon Echo to the market by 6 months.

 

DBC coin: Wallets

The DBC token uses the Neon wallet designed by City of Zion or any standard NEO wallet that supports NEP-5 tokens.

 

Can you mine DBC coin?

You can mine DBC tokens. It’s basically running a node that broadcast datasets or docker images, and the algorithm of the network rewards you for this service. Up to 50 percent of the token supply will be mined.

 

DBC coin: Roadmap

Right now we are still pretty early in the implementation of the roadmap, but the stated goals for Q1 2018, is to develop a Silicon Valley research center and begin peer to peer AI training.

Deepbrain Chain and its DBC coin: A starter's guide

 

DBC coin: Community

Twitter: 31,700 followers
Reddit: 7,901 readers
Telegram: 12,020 members
Medium: 324 followers

Deepbrain Chain is ranked as the #15 fastest growing community in crypto.

 

DBC coin: How to buy DBC coin

DBC tokens are only available from smaller exchanges right now, which in my opinion, gives it a lot of growth potential. You can get DBC tokens two ways: Buy directly from someone who has some already, or to purchase from an exchange. The following exchanges list DBC:

  • Lbank
  • Huobi
  • Kucoin
  • Gate.io
  • Bitbns
  • Switcheo Network
  • Allcoin

DBC coin: Review

Strengths

  • It’s creating a brand new platform to overcome hurdles holding back progress in the AI field.
  • It has a full “war chest” of funds so to speak, as the ICO sold out in minutes.
  • 100 manufacturers and 200,000 users are already using 500 AI models at present time.
  • The AI industry is projected to grow exponentially, along with the internet of things.
  • It was an early ICO on the NEO platform.
  • The team is very experienced in AI specific business undertakings.

Weaknesses

  • It is creating a brand new platform so bootstrapping a user base for something this cutting edge will not be easy.
  • The team and foundation currently control 35 percent of the tokens.
  • The project is very centralized, and NEO as a platform is also pretty centralized at the moment.

Final thoughts

I’m impressed by the scope of what they are trying to accomplish. I think they have a great head start being the only business forward-thinking enough to attempt it. The centralization is a concern but they are working on science, not creating sound currency.

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