NEAR Protocol

Future

At its&nbsp;<a style="text-decoration:none" href="https://x.com/NEARProtocol/status/1855458199505387917">Redacted conference in Bangkok</a>, Thailand, NEAR Protocol unveiled an ambitious plan to create the largest open-source AI model ever. The project will introduce 1.4 trillion-parameter model, which is 3.5 times larger than Meta's current open-source Llama model, per&nbsp;CoinTelegraph.
Its development will be driven by crowdsourced research and contributions. Thousands of participants worldwide will collaborate to build and refine the model. The process will be accessible through the newly established NEAR AI Research Hub, where users can begin by training a smaller 500 million-parameter model.
<h2 dir="ltr" id="span-span-monetizing-the-ai-model-and-preserving-privacy-span-span">Monetizing the AI Model and Preserving Privacy</h2>
One of the aspects of this AI model is its business model. NEAR Protocol has reportedly designed a sustainable framework that includes the monetization of the model through token sales. This approach is intended to fund the costly training and computational needs of such a massive AI undertaking.&nbsp;
&nbsp;
Co-founder Illia Polosukhin spoke with&nbsp;Cointelegraph, highlighting the feasibility of securing the necessary $160 million. He also explained that tokenholders would be reimbursed through the inferences generated by the use of the model.
&nbsp;
The model will use Encrypted Trusted Execution Environments (TEEs) to safeguard the privacy of participants and users. As the AI model progresses, contributors will be rewarded for their input, and the technology will continue to evolve with ongoing updates.&nbsp;
&nbsp;
The reward system is designed to be self-sustaining, with tokenholders able to reinvest in the next phase of the project. This reportedly creates a feedback loop that encourages innovation while ensuring that the AI model remains at the cutting edge.
<h2 dir="ltr" id="span-span-ai-assistant-a-sneak-peek-into-the-future-span-span">AI Assistant: A Sneak Peek into the Future</h2>
In addition to the AI model, NEAR Protocol also&nbsp;<a style="text-decoration:none" href="https://x.com/NEARProtocol/status/1855458199505387917">introduced</a> an AI Assistant at the conference. This tool demonstrates the real-world capabilities of NEAR’s AI infrastructure.&nbsp;
&nbsp;
Polosukhin used the assistant to create a memecoin, design a website, and even search for custom T-shirt printers—all within seconds.&nbsp;
&nbsp;
The assistant, while still in its early stages, is expected to expand its capabilities. Future versions will allow users to book flights, order food, and even interact with Web2 services through the blockchain. This functionality highlights NEAR Protocol's vision of bridging the gap between traditional web services and decentralized technology.
&nbsp;
A key feature of NEAR’s AI Assistant is its chain abstraction technology. Per reports, this allows users to swap assets across multiple blockchains, such as Bitcoin, Ethereum, and NEAR Protocol, with just a simple transaction signature. Currently, the platform is in beta with limited trading capabilities.

NEAR Protocol to Build World’s Largest Open-Source AI Model with 1.4T Parameters

Table of Contents

BSCN

Other articles published on Nov 12, 2024

XRP Hits Golden Cross

Which Cryptos Are Dominating 2024?

Shiba Inu Price Prediction: Trading Data Shows SHIB Whales Buying FLOKI and This $0.04 AI Crypto ...

Senator Cynthia Lummis Optimistic About Bitcoin Reserve Bill Passing in Trump’s First 100 Days

Bitcoin price surpasses 1kg of gold as value climbs to record levels

Ethereum Layer 2 Lisk launches mainnet and announces airdrop plans

Join our free newsletter for daily crypto updates!