Openfabric: A Decentralized Platform for Building and Connecting AI Applications
Hello Seedify Community
In line with our dedication to promoting innovation and accessibility, we’re excited to present Openfabric AI as the next IDO to be featured in our upcoming launch.
In this article, we’ve covered the following topics:
● Challenges that Openfabric solves
● Team
What is Openfabric?
Openfabric is a decentralized Layer 1 AI ecosystem that aims to connect AI developers, users, and investors. It leverages the principles of blockchain technology and is built on the Internet of AI (IoAI), a novel technology that allows AIs to communicate and collaborate with each other.
Openfabric has a number of benefits over traditional AI platforms. First, it is more decentralized, meaning it is less susceptible to censorship or control by a single entity. Second, it is more open, meaning anyone can participate in the ecosystem. Third, it is more scalable, which means that it can support a large number of AIs.
Openfabric solves the following challenges that currently exist in the AI space:
- Reduces the complexity of building and deploying AI applications: Users can use the platform without technical expertise.
- Increases the scalability of AI applications: The platform can be used to build applications that can handle large amounts of data and traffic.
- Improves the security of AI applications: The platform uses blockchain technology to ensure that transactions are secure and transparent.
Products and Features:
The Openfabric marketplace: Allows users to buy and sell AI services. Services can be anything from pre-trained algorithms to custom-built AI models.
The Openfabric SDK: Allows developers to build AI applications on the Openfabric platform. The SDK provides a number of tools and libraries that make it easy to integrate AI into applications.
The Openfabric API: Allows users to interact with the Openfabric platform programmatically. The API can be used to build custom applications or to integrate Openfabric with other platforms.
Diverse AI Applications:
Openfabric AI does not limit itself to a single use case; instead, it offers a diverse array of AI applications, showcasing the boundless potential of AI technology.
Some of the applications include:
● Lifelike 3D Human Simulation
● Intelligent 3D Model Design
● Personal AI Assistant
● Deepfake Creation and Detection
● AI-Driven Music Remixing
● Toonify images
● Product Development & Application
Openfabric AI is in the private Testnet stage, offering live sessions for users to explore its functionalities.
Take a look at their LIVE applications and try them out for yourself!
- Create memes using Memefabric on Telegram and Discord memfabric-ai-telegram.gif
- Experience Soundfabric on Telegram and Discord and create music from a single text prompt: https://miro.medium.com/v2/resize:fit:828/1*fePORU4CSg8-PvJBjxvqbA.gif
- Check out their QR Code Generator on Discord and generate stunning QR codes using a simple command: qrfabric-ai-bot-discord.gif
- Try Artfabric and create any art from a single text prompt on Telegram https://miro.medium.com/v2/resize:fit:828/1*jcTygQJGykEIlJbHnYQlGw.gi
Despite being in the early phase, the progress is strong, with Google-grade AI successfully decentralized and over 50 AI Apps already running on the protocol. This achievement opens the door to real-world applications of complex AI algorithms on regular infrastructure, democratizing the benefits of AI technology across various sectors such as 3D modelling, digital media creation, music production, and drug discovery.
Openfabric has also developed strategic partnerships with over 25 industry leaders, including ZkSync, Carbon Browser, Caduceus, Reef, IPFS, API3, etc. These partnerships contribute to building a comprehensive and robust AI ecosystem, furthering the vision of bridging the gap between AI research and practical applications.
Openfabric Technology Overview:
Openfabric combines the following core components and tools:
The Economy of Innovation: Openfabric features an embedded economic system that rewards innovators, ensuring continuous updates with cutting-edge AI algorithms.
Service Quality: Utilizing a Bayesian reputation model, Openfabric assesses service quality, ensuring interactions with high-quality providers.
Decentralized Marketplace: The Openfabric marketplace is a decentralized platform that allows users to find and purchase AI algorithms easily. This marketplace is designed to be user-friendly and accessible to everyone.
Privacy For All: All algorithms and data sets are encrypted and only decrypted inside the TEE, so neither the platform nor the executor can access them.
Enterprise Integration: Openfabric provides connectors that make it easy for enterprises to integrate with the platform. This helps to reduce the integration friction and makes it easier for enterprises to adopt AI.
Decentralization: Openfabric is a decentralized platform, which means that any single entity does not control it. This makes it more secure and resistant to censorship.
Equilibrium: Openfabric is designed to achieve Nash equilibrium, a state where everyone in the ecosystem benefits. This is achieved when infrastructure providers offer excellent services, innovators generate high-quality algorithms, and service consumers efficiently combine algorithms to obtain solutions for their specific use cases.
Openfabric Team:
The team comprises diverse talents, from PhD holders to Mathematics and Computer Science Olympians. Team members boast experience in various projects, including MultiversX (formerly Elrond Network), showcasing their expertise in the AI and blockchain space.
- Andrei Tara: Founder & CEO
- Ion Ceban: Core Developer
- Nicolae Natea: Core Developer
- Ovidiu Costea: AI/ML Engineer
- Ioan Taban: Business Development Manager
The OFN Token and Utility:
The OFN token encompasses several key functions designed to ensure security, incentivize participation, facilitate transactions, promote governance, grant exclusive access, and offer discounts.
Here’s a comprehensive breakdown of how the tokens are utilized within the ecosystem:
- Staking: AI innovators, data providers, and infrastructure providers stake tokens to join, ensuring network integrity and accountability.
- Reward Mechanisms: Participants engaging in platform activities receive tokens, with infrastructure providers rewarded for resource sharing, AI innovators for valuable solutions, and data providers for dataset contributions.
- Payments and a Medium of Exchange: Tokens facilitate seamless transactions, serving as a medium of exchange for products, services, smart contracts, and oracles.
- Governance and Voting: Token holders wield voting power, influencing project parameters and decisions through mechanisms like snapshot.org and on-chain DAOs.
- Exclusive Access and Discounts: Token holders access exclusive offerings, such as products, services, webinars, and channels, while also benefiting from discounts on platform services and products.
IDO Information
Name: (Name and ticker of the token): OpenfabricAI/OFN
Token Type: BNB chain
Total Supply: 500,000,000
Initial Mcap: $793 200 (excluding liquidity)
Seedify’s Allocation: $600K
IDO Date: 19 October 2023
IDO Price: $0.06
Listing Price: $0.06
Vesting Period: 17% TGE, 2-month cliff, 10 months daily (block to block) linear vesting
Market Makers: GSR
Refund Policy: 7 days unconditional refund
Openfabric’s decentralized ecosystem harnesses blockchain to interconnect developers, users, and investors, effectively addressing challenges, amplifying scalability, and ensuring robust security.
For further information about how to participate in an IDO on Seedify’s platform, please refer to this article.
Stay informed about their upcoming IDO announcements by following them on social media.
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● Medium
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About Seedify
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