Blockchain enhances AI accessibility with reduced costs and improved usability
Swan Chain leverages blockchain to tackle the challenges in the AI sector, integrating underutilized computing resources to reduce expenses by up to 70% and streamline secure data operations.
The artificial intelligence (AI) space is buzzing with potential, but it’s also riddled with challenges. High costs for computing power and expansive storage spaces are slowing down innovators and businesses looking for ways to push the boundaries of AI.
Moreover, ensuring data privacy while maintaining efficient operations poses a significant technical problem, especially within blockchain environments. The situation often leaves developers in a bind, trying to access advanced tools without breaking the bank or compromising security. As these issues loom large, the quest for accessible and secure AI integration becomes more crucial than ever.
Leveraging layer-2 solutions for AI
Established in 2021, Swan Chain (formerly FilSwan) is a decentralized infrastructure designed to accelerate the adoption of AI. Leveraging OP Stack’s Ethereum layer-2 technology, Swan Chain integrates Web3 with AI, offering a comprehensive range of storage, computing, bandwidth and payment solutions.
Swan Chain launched its Proxima Testnet — the last testing stage before its planned mainnet launch — on April 29 as part of the Atom Accelerator Race.
📑Swan Chain Proxima Testnet Week 1 Report
— Swan Chain(formerly FilSwan) (@swan_chain) May 6, 2024
The race is on! 🏁 Check out these stellar metrics from the first week:
The ecosystem is rapidly expanding, with developers, computing providers, and users driving immense on-chain activity! Keep contributing and earning those rewards.… pic.twitter.com/GPzzbZGnbh
Launched on the same day, the Atom Accelerator Race hosts a Contribution Credit System featuring a reward pool of 15 million credits. The system is designed to measure and reward the engagement of users, developers and explorers within the platform. Credits accumulated in the system correlate with potential rewards participants may receive during the platform’s token generation event.
Swan Chain facilitates seamless and cost-effective AI model deployment in conjunction with Lagrange DAO, a decentralized autonomous organization (DAO) focused on data value realization. Lagrange serves as a decentralized computing platform, providing secure storage and deployment capabilities for code and enabling developers to create Web3 applications with extensive tooling options.
The Swan Chain Saturn Testnet has come to an end! 🙌
— Swan Chain(formerly FilSwan) (@swan_chain) April 16, 2024
A huge thank you to all participants - your contributions helped @swan_chain hit major milestones:
✨ 145M+ transactions processed
✨ 25M+ wallet addresses engaged
✨ 630K+ contracts deployed
✨ 75+ global computing providers… pic.twitter.com/ri0ncQWODJ
Swan Chain has run six runs of testnet. During the Saturn Testnet, more than 15 countries, 20 cities, and over 80 computing providers joined the network. The majority of the providers are located in T3 data centers. The Saturn Testnet saw Swan Chain processing over 145 million transactions, engaged more than 25 million wallet addresses and deployed upward of 630,000 contracts in two months. Additionally, it provided over 2.85 million CPU hours and 600,000 GPU hours of computing resources.
Blockchain to solve AI problems
The high cost associated with high-performance computing and large-scale storage is a significant issue in the AI sector. Swan Chain addresses the issue by integrating underutilized computing resources from community data centers, which can cut costs by up to 70% and monetize idle computing assets.
Another area of focus for Swan Chain is the secure and efficient computation of zero-knowledge proofs (ZKPs) within the blockchain ecosystem. The platform offers outsourcing services for ZKP computations, supporting global blockchain networks like Filecoin and Aleo. Within two months of its launch, the ZK market on Swan Chain has processed over 50,000 ZK computing tasks.
Swan Chain also lowers the entry barriers for developers and users to access decentralized AI resources. Tools such as Lagrange DAO, Multi-Chain Storage — a cross-chain data storage platform — and support for advanced AI models like Stable Diffusion and MusicGen help democratize access to AI technologies.
Additionally, Swan Chain enhances interoperability within its ecosystem through decentralized resource trading markets for storage, AI and ZK suppliers, and strategic partnerships with industry players like Filecoin, IPFS, Chainlink and Optimism.
Addressing the limitations of Ethereum’s mainnet, such as low throughput and high fees, Swan Chain offers an Ethereum Virtual Machine (EVM) compatible, high-throughput, low-cost environment on OP Superchain, an Ethereum layer 2 solution.
The offering facilitates the migration of existing Ethereum decentralized applications (DApps) to Swan Chain, enabling them to operate more efficiently and at a lower cost, which is particularly beneficial for resource-intensive decentralized AI applications.
Swan Chain incorporates Web3 technologies to bolster the robustness of its computing network. By organizing a network of independent computing nodes, the platform enhances resilience and reduces the risks associated with centralized control. Swan Chain’s decentralized setup ensures that the network remains stable and efficient, even if parts of it encounter issues.
Utilizing the platform’s computing resources, Swan Chain establishes a framework that allows users to create their own specialized markets, such as AI and ZK-proof markets. Swan Chain’s standardization enables individuals and organizations to efficiently harness and deploy these resources according to their specific needs.
Backed by Web3 household names
Swan Chain is supported by a number of industry heavyweights, with its investor list including Binance Labs, Protocol Labs, Waterdrip Capital, Chainlink Labs, Outlier Ventures and SNZ Holdings. The platform also forged strategic partnerships with Nvidia, Google Web3 Startup Program, Microsoft Startup Program, Chainlink BUILD and Filecoin Orbit.
The future plans of the Swan Chain. Source: Swan Chain
Swan Chain seeks to democratize access to advanced AI and blockchain technologies while cultivating a more interconnected and efficient ecosystem. The innovative approach can foster a new era of technological integration, where barriers between sophisticated computing and everyday applications diminish, paving the way for widespread technological empowerment and innovation.
Learn more about Swan ChainDisclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you with all important information that we could obtain in this sponsored article, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor can this article be considered as investment advice.
