NetMind Token price

NMT

#554

NetMind Power is a platform for Machine Learning and AI training, fine-tuning and inference, aimed at machine learning professionals, researchers, and software developers.

NetMind's mission is to create a global network of computing power for AI models by utilizing the idle GPUs of users worldwide. As part of this mission, NetMind Power provides a platform for large-scale distributed computing, integrating heterogeneous computing resources globally, and leveraging grid and voluntary computing scheduling architecture and load balancing technology. The NetMind power network is built upon and governed using the blockchain, NetMind Chain. NetMind Chain enables the decentralization of all tasks, transactions and functions that occur on the platform. To be clear, the training process happens locally on the machines being used for training, not on the blockchain.

The operation of the blockchain will be facilitated by usage of a utility token, NMT (NetMind Token). NetMind Token (NMT) is the native utility token of the NetMind Chain.

NetMind Token (NMT) is the native utility token of the NetMind Power platform, a decentralized computing network designed to harness idle GPU resources for AI and machine learning tasks. Operating on the Ethereum blockchain, NMT facilitates transactions and rewards within the NetMind ecosystem, making it integral to the platform's functionality.

The NetMind Power platform aims to create a global network of computing power by integrating heterogeneous computing resources. This is achieved through a grid and voluntary computing scheduling architecture, coupled with load balancing technology. The platform's decentralized nature is governed by the NetMind Chain, ensuring that all tasks, transactions, and functions are managed transparently and securely.

Users contributing their idle GPU resources to the network are rewarded with NMT, incentivizing participation and resource sharing. The total supply of NMT is capped at 10 billion tokens, with a structured distribution plan. Forty percent of the tokens are allocated as rewards for computational power providers, while 30% are reserved for staking rewards. An additional 20% is set aside for the NetMind DAO community, and the remaining 10% is allocated to the NetMind technical team, with tokens unlocking gradually over 100 years.

NetMind Power is developed by NetMind.AI, an AI research and software company based in London, UK. The platform serves machine learning professionals, researchers, and software developers, providing a robust environment for AI model training, fine-tuning, and inference.

The technology behind NetMind Token (NMT) is rooted in the NetMind Chain, a blockchain platform based on Ethereum 2.0 technology. This blockchain is specifically designed to facilitate AI-related transactions and activities, making it a cornerstone of the NetMind ecosystem. The NetMind Chain leverages Ethereum 2.0's advancements, such as Proof of Stake (PoS) consensus, which enhances scalability, security, and energy efficiency compared to its predecessor.

NetMind Power, the platform utilizing this blockchain, aims to create a global network of computing power for AI models. This is achieved by harnessing the idle GPUs of users worldwide, integrating these heterogeneous computing resources into a large-scale distributed computing network. The platform employs grid and voluntary computing scheduling architecture, along with load balancing technology, to optimize the distribution and utilization of computational power.

Security is a critical aspect of the NetMind Chain. By using Ethereum 2.0's PoS mechanism, the blockchain mitigates the risk of attacks from bad actors. In a PoS system, validators are chosen based on the number of tokens they hold and are willing to "stake" as collateral. This economic incentive discourages malicious behavior, as validators stand to lose their staked tokens if they attempt to compromise the network. Additionally, the decentralized nature of the blockchain ensures that no single entity has control over the network, further enhancing its security.

The utility token NMT plays a vital role within this ecosystem. It is used for governance, allowing token holders to vote on proposals that affect the network's development and operations. NMT is also employed for staking, where users can lock up their tokens to support the network's security and earn rewards in return. Transactions within the NetMind Chain are facilitated using NMT, ensuring seamless and efficient exchanges of value.

NetMind Power's mission extends beyond just providing computational resources. It aims to decentralize all tasks, transactions, and functions on the platform. While the training of AI models occurs locally on the machines being used, the blockchain governs the overall operation, ensuring transparency and trust in the system. This decentralization is crucial for maintaining the integrity and efficiency of the network.

The total supply of NMT is capped at 10 billion tokens, with a structured distribution plan. Forty percent of the total supply is allocated as rewards for providers of computational power, incentivizing participation in the network. Thirty percent is reserved for staking rewards, encouraging users to support the network's security. Twenty percent is allocated to the NetMind DAO community, fostering a decentralized governance structure. The remaining ten percent is reserved for the NetMind technical team, with tokens being unlocked gradually over a century.

NetMind Power, developed by NetMind.AI, a London-based AI research and software company, is the driving force behind this innovative platform. The integration of blockchain technology with AI and machine learning creates a robust and secure environment for advancing these fields.

NetMind Token (NMT) is a utility token designed to power the NetMind Power platform, which focuses on machine learning and AI training. This platform aims to create a global network of computing power by utilizing idle GPUs from users worldwide. One of the primary real-world applications of NMT is incentivizing users to contribute their idle GPU resources to the network. By doing so, users can earn NMT as a reward, creating a strong incentive for participation and contribution.

Another significant application of NMT is its role in the automatic distribution of rewards based on each participant's contribution to the training process. This ensures that users who provide more computational power or resources receive a proportionate amount of NMT, fostering a fair and transparent reward system.

NMT also serves as a utility token for renting GPU power on the network, which is crucial for AI development. This allows machine learning professionals, researchers, and software developers to access the necessary computational resources for their projects without the need for expensive hardware investments. The platform offers low-latency and easy management for distributed deep learning, making it an attractive option for those in the AI field.

Additionally, NMT is used for staking within the NetMind ecosystem. Users can stake their tokens against any Mind Node, with an incentive to stake against the top 21 Master Nodes. This staking mechanism not only secures the network but also provides users with additional rewards, further enhancing the token's utility.

Governance is another critical application of NMT. Token holders can participate in the decision-making process on the NetMind Chain, influencing the platform's development and future direction. This decentralized governance model ensures that the community has a say in the platform's evolution, promoting a collaborative and inclusive environment.

NetMind Token's applications extend to the broader field of artificial intelligence and computing power, offering a decentralized solution for large-scale distributed computing. By integrating heterogeneous computing resources globally and leveraging advanced scheduling and load balancing technologies, the platform aims to revolutionize the way AI models are trained and deployed.

NetMind Token (NMT) is the native utility token of the NetMind Chain, a blockchain designed to support the NetMind Power platform. This platform focuses on providing a global network of computing power for AI models by utilizing idle GPUs from users worldwide. The mission of NetMind Power is to create a decentralized network for machine learning and AI training, fine-tuning, and inference.

The release of the NetMind Token White Paper marked a significant milestone, outlining the vision, technical architecture, and use cases for NMT. This document provided detailed insights into the platform's goals, the role of the token, and the overall ecosystem. The White Paper's publication was a foundational event, setting the stage for subsequent developments.

Following the White Paper, the launch of the NetMind Chain was another pivotal event. This blockchain underpins the entire NetMind Power platform, enabling decentralized management of tasks, transactions, and functions. The NetMind Chain's introduction was crucial for ensuring the platform's scalability, security, and efficiency.

The integration of NMT into the NetMind Power platform was a key development, allowing users to utilize the token for various functions within the ecosystem. This integration facilitated the seamless operation of the platform, enabling transactions, rewarding computational power providers, and incentivizing participation in staking and governance.

NetMind Power's platform leverages a large-scale distributed computing network, integrating heterogeneous computing resources globally. This network is built on grid and voluntary computing scheduling architecture and load balancing technology, ensuring efficient utilization of resources. The decentralized nature of the platform, governed by the NetMind Chain, ensures transparency and security in all operations.

The total supply of NMT is 10 billion tokens, locked in a smart contract and gradually unlocked according to a predefined distribution plan. This plan allocates 40% of the total supply as rewards for computational power providers, 30% for staking rewards, 20% for the NetMind DAO community, and 10% for the NetMind technical team. The tokens are unlocked at a rate of 0.1% annually over 100 years, ensuring a controlled and sustainable distribution.

NetMind Power, developed by NetMind.AI, an AI research and software company based in London, UK, has been gaining traction in the cryptocurrency world. The platform's innovative approach to utilizing idle GPUs for AI model training and inference has attracted attention from machine learning professionals, researchers, and software developers.

The platform's decentralized computing network is designed to support large-scale AI training and inference tasks, leveraging the idle computing power of users worldwide. This approach not only optimizes resource utilization but also democratizes access to high-performance computing for AI research and development.

NetMind Power's governance model, facilitated by the NetMind Chain, ensures that all tasks, transactions, and functions are managed transparently and securely. The platform's decentralized nature allows for community-driven decision-making, with stakeholders participating in governance through staking and voting mechanisms.

The Volunteer Computing Network Connection Reward incentivizes users to contribute their idle computing power to the network, ensuring a steady supply of resources for AI training and inference. This reward system is a key component of the platform's sustainability, encouraging continuous participation and engagement from the community.

The staking mechanism allows users to stake their NMT tokens against Mind Nodes, with an incentive to stake against the top 21 Master Nodes. This system not only secures the network but also provides users with an opportunity to earn rewards for their participation.

The NetMind DAO community plays a crucial role in the platform's governance, with 20% of the total NMT supply reserved for community initiatives. This allocation ensures that the community has a significant stake in the platform's development and future direction.

The NetMind technical team, responsible for the platform's development and maintenance, is allocated 10% of the total NMT supply. This allocation ensures that the team is adequately incentivized to continue improving and expanding the platform.

NetMind Token's journey has been marked by several key events, each contributing to the platform's growth and development. From the release of the White Paper to the launch of the NetMind Chain and the integration of NMT into the NetMind Power platform, these milestones have established NMT as a significant player in the cryptocurrency and blockchain space.