NetMind AI Unveils the Beta Version of Netmind Power For Decentralized Machine Learning

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PRESS RELEASE. The AI-focused tech start-up NetMind.AI has launched the Beta version of Netmind Power, a decentralized platform which allows machine learning (ML) researchers and practitioners to train and fine-tune ML models by leveraging a network of volunteer computing resources distributed around the world. The Beta version is free for a limited time and users can now sign up to use the platform.

Limited-Time Free Beta

NetMind Power is a decentralized machine learning platform that, at its core, provides cost-effective and scalable computing power for AI model training by leveraging a vast global network of idle GPUs, such as those leftover from Proof-of-Work cryptocurrency mining. Anyone owning one or more GPUs can connect them to the network and earn a reward while doing so. As such, the platform connects providers of idle computing power with researchers and engineers looking for a low-cost solution to their ML training needs, removing the need for in-house infrastructure investments or to rely on expensive hyperscalers such as AWS EC2.

The BETA launch provides AI and machine learning engineers a chance to familiarize themselves with the platform without financial commitment.

Users implement some minor changes to their training code with a proprietary python library built by NetMind.AI, the platform then abstracts a layer of complexity and is capable of automatically applying data parallelism and model parallelism to train models across multiple distributed machines, resulting in faster training times and the possibility to train large language models at a very low cost.

Who Can Utilize the Beta?

Anyone interested in training or fine-tuning machine learning models is welcome to join the Beta, from large companies to small research labs or individuals. For those who choose to be early adopters, the Beta offers the opportunity to experience the platform’s suite of AI modeling tools free of charge for a limited time, making it an invaluable resource for AI engineers.

NetMind Token: AI and Web3 come together

The NetMind Power platform is underpinned by blockchain technology. Upon full general release, NetMind Token (NMT) is set to stand as a pillar of the NetMind ecosystem. The token is set to have multifaceted functionality, acting as the utility token for the entire NetMind platform, where it will serve three primary functions:

Medium of Exchange: Within the NetMind ecosystem, NMT will facilitate transactions, allowing users to access services, trade computational resources, and more. Users will use NMT to pay for model training and inference services, and Volunteer Computing providers will be rewarded with NMT.

Governance: Holders of NMT will have the ability to participate in the governance of the platform, influencing decisions, proposing changes, and voting on key operational aspects. This decentralized approach is designed to ensure that the platform remains adaptive, transparent, and truly community-driven.

Reward Mechanism: Recognizing the contributions of its users, NetMind has instituted NMT as a reward. Crypto miners offering their idle GPUs are rewarded with NMT, encouraging active participation within the community.

Signing Up

For those eager to explore the available features of the NetMind Power platform, the Beta is currently live, and applications are being accepted. By signing up now, early adopters stand to experience the platform’s capabilities free of charge for a limited time.

Create an account and register for the Beta here.

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