Near Protocol Unveils Ambitious Project to Develop the World’s Largest Open-Source AI Model

Near Protocol Announces Plans to Build the Largest Open-Source AI Model

Source: Binance Square

Overview of the Initiative

• Near Protocol aims to develop a 1.4 trillion parameter AI model, surpassing Meta's Llama model.
• Launch of the initiative was during the Redacted conference in Bangkok, Thailand.
• Participants are invited to contribute to a smaller model (500 million parameters) starting on November 10.

Growth and Monetization Strategy

• The project will expand through seven models, retaining only top researchers and contributors at each stage.
• Monetization will be facilitated by an encrypted Trusted Execution Environment to ensure participant privacy.
• Funding will primarily rely on token sales, with an estimated initial development cost of $160 million.
• Tokenholders can expect returns as the model becomes operational, creating a sustainable funding loop.

Leadership and Expertise

• Co-founder Illia Polosukin, along with Alex Skidanov, brings expertise from their involvement in the research behind ChatGPT and OpenAI.
• Skidanov acknowledges the challenges of the initiative but remains optimistic about its feasibility.

Focus on Decentralization and Privacy

• Near Protocol emphasizes the need for a decentralized network to handle computing resources efficiently.
• Guest speaker Edward Snowden highlighted the risks of centralized AI, warning it could lead to a surveillance state.
• Both Polosukin and Snowden advocate for development that aligns with Web3 principles, ensuring that AI benefits the broader community.