Network3 (N3): Fueling AI Innovation With Decentralized Power
Data drives the digital age, with AI leading the charge. Generative AI models like GPT-3 have revolutionized industries, but come with steep computational demands and costs. Network3 was created to address these challenges by decentralizing AI’s computational needs.
This article introduces Network3 and its vision of creating an efficient, sustainable and distributed machine-learning ecosystem.
Key Takeaways:
Network3 uses a decentralized approach to meet the growing computational demands of AI, offering a secure and scalable solution for developers and users.
The project has attracted $5.5 million in funding from prominent investors, demonstrating confidence in its future success.
Looking to trade Network3 tokens? Bybit now offers the N3/USDT Spot trading pair.
What Is Network3?
Network3 is a decentralized protocol designed to enable secure, anonymous and reliable data transmission and computation, making it easier to train and run AI models efficiently. It combines advanced AI and blockchain technologies to address the growing computational needs of AI and blockchain applications, while also boosting scalability and security in web3 ecosystems.
History of Network3
Network3 was founded by Rock Zhang, a seasoned entrepreneur and technology visionary with deep expertise in internet and AI infrastructure. Having played key roles in building companies like Boostinsider, iHealth Labs and Qihoo 360, Zhang brings a wealth of experience to this ambitious project. Network3 is designed to be a dedicated Layer 2 solution for artificial intelligence, empowering developers to train and optimize AI models efficiently on a decentralized network.
The idea for Network3 emerged from the urgent need for scalable and privacy-first AI solutions. Traditional cloud providers often come with limitations, such as high costs and latency, as well as privacy concerns. Network3 tackles these issues head-on by linking devices worldwide into a distributed system. This decentralized approach reduces dependence on centralized cloud platforms, making AI more accessible and resource-efficient.
Distributing AI tasks across multiple devices allows Network3 to lower latency and strengthen user privacy, addressing critical challenges in today’s AI landscape. The project’s bold vision has attracted significant support, with $5.5 million in funding from major investors like Borderless Capital and Bing Ventures.
What Does Network3 Aim to Achieve?
Decentralized networks face a critical challenge: the lack of reliable and secure data transmission. This limitation affects the performance and trustworthiness of blockchain ecosystems, leading to unreliable transaction exchanges, vulnerabilities in communication and a subpar user experience. As web3 continues to expand, existing Layer 1 platforms excel at supporting smart contracts and decentralized applications (DApps), but they fall short in providing a scalable and secure protocol for data exchange.
Network3 tackles this issue by developing a decentralized data transmission protocol designed to enhance the scalability and security of Layer 1 blockchains. The protocol strengthens the reliability of blockchain ecosystems by creating a framework that ensures efficient and secure data exchange.
Network3 integrates several advanced features, such as an anonymous certificateless signcryption (CLSC) algorithm, a data correctness verification mechanism and an IP anti-tracking measure. These innovations support smoother transactions, enhance user privacy and improve system scalability, contributing to a more robust web3 experience. Network3’s efforts bridge a critical gap, making decentralized systems more efficient, secure and prepared for the future.
Network3: How Does It Work?
Network3’s decentralized protocol is designed to provide secure, anonymous and reliable data transmission and computation. By leveraging a network of distributed nodes, Network3 ensures data privacy and enhances computational efficiency, making it ideal for modern AI and blockchain applications.
At the heart of Network3 lies the CLSC algorithm, which enables both encryption and digital signatures without relying on traditional certificates. This innovative approach ensures secure data sharing while safeguarding user anonymity. Additionally, a specialized smart contract, SCKGC, manages the generation of public parameters and the distribution of partial private keys, creating a secure foundation for communication.
Network3 integrates advanced features to create a scalable, efficient platform that meets the growing needs of AI and blockchain technologies, while prioritizing the following security, privacy and user incentives:
Node participation: Anyone can set up a node by connecting their device to the Network3 protocol. These nodes contribute computational power and storage, forming the backbone of the decentralized network.
Decentralized computing: Tasks are distributed across multiple nodes, eliminating potential single points of failure. This improves the network's reliability and security, ensuring seamless operation even during high demand.
AI-powered optimization: Advanced AI algorithms enhance the efficiency of task distribution and resource allocation, enabling the network to handle complex computations with ease.
Incentive mechanism: Users who contribute resources are rewarded with tokens, motivating participation and strengthening the network’s robust scalability.
Data privacy and security: Cutting-edge encryption and anonymization techniques protect user data and maintain secure communication between nodes.
Network3 Road Map
Network3 has achieved remarkable milestones since its inception, solidifying its position in the decentralized computing and AI landscape:
Funding: Secured $5.5 million in seed funding from prominent investors, including Borderless and EV3 Labs, to drive development and operations.
Global infrastructure: Built a network of 610,000 active nodes across 188 countries, handling 2 petabytes of data and 97,000 daily sessions, ensuring robust support for its decentralized AI initiatives.
Impressive performance metrics: Achieved a 71-day payback period for miners; daily revenues exceeding $100,000; and strong investment appeal.
Testnet: Successfully completed a high-performance computing testnet valued at $200 million, validating the technical viability of its N3 Compute Network and attracting institutional interest.
Looking ahead, Network3 aims to achieve several objectives in the near future:
Mainnet launch: Transitioning from testnet to mainnet to enhance functionality and user experience.
Token launch: Debut of the Network3 ecosystem’s N3 utility token (on Bybit and Gate.io on Jan 22, 2025).
Community growth: Driving engagement through airdrops and staking to boost participation and investment.
Technological innovation: Expanding applications for decentralized computing in edge AI, promoting equitable access for developers and users.
N3 Tokenomics
N3 is the native token of Network3. It powers the ecosystem by enabling seamless transactions and incentivizing active participation, and is used for paying transaction fees, rewarding node operators for their contributions and unlocking premium services within the network.
The tokenomics of N3 are designed to foster long-term growth and sustainability, with a total supply capped at 1 billion tokens. Distribution is structured as follows:
Seed Sale: 3.1%
Private sale: 14.9%
Public Sale: 3%
Team: 13%
Airdrop: 4%
Advisors: 2%
Community Rewards: 50%
Liquidity Provision: 3%
Ecosystem Development: 7%
Where to Buy N3
Looking to trade Network3 tokens? Bybit now offers the N3/USDT Spot trading pair. To get started, you’ll first need to create a Bybit account, then fund it with cryptocurrency and navigate to the N3/USDT Spot trading page.
Is N3 a Good Investment?
N3 appears to be a promising investment opportunity, particularly for those interested in the growing intersection of decentralized computing and AI with blockchain technologies. The project has already secured significant funding from prominent investors, demonstrating confidence in its long-term potential. In addition, Network3’s innovative approach to decentralized data transmission and computation, combined with its robust security measures, positions it to address key challenges in the AI and web3 spaces.
The platform's scalability, along with its incentivized node participation, makes it an attractive proposition for developers and users alike, ensuring the ecosystem's growth and sustainability.
However, as with any emerging project, N3 carries inherent risks, particularly in the volatile cryptocurrency market. While the platform’s tokenomics and strong infrastructure provide a solid foundation, the success of the N3 token is closely tied to the adoption and real-world application of Network3’s technology. Thus, while N3 offers significant upside potential, prospective investors must carefully consider the risks involved.
Closing Thoughts
Network3 is a decentralized platform built to tackle the increasing demands of AI and blockchain technology. By connecting devices worldwide, it offers a more secure, scalable and privacy-focused way to run AI applications.
With a strong network of nodes and substantial investor backing, Network3 aims to revolutionize the way AI and blockchain work together. The N3 token fuels the ecosystem, rewarding participants and helping to grow the platform. While the project shows promise, it’s important to note the inherent risks of investing in the fast-changing web3 blockchain space.
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