Gensyn, a blockchain-powered AI compute protocol, has successfully concluded a Series A funding round worth $43 million. The round was primarily led by a16z, with participation from notable investors such as CoinFund, Canonical Crypto, Protocol Labs, Eden Block, and others. The funds raised will be utilized to expedite the launch of the protocol and expand the company’s workforce, specifically by hiring additional protocol and machine learning engineers.
What is Gensyn?
Gensyn functions as a provider of computing resources for AI platforms, utilizing blockchain technology. The protocol empowers developers to construct AI systems on smaller data centers, personal gaming computers, and other connected hardware. This allows them to pay for these resources on demand. Gensyn employs a cryptographic verification network that enables users to determine whether machine learning tasks carried out over the protocol have been executed correctly, eliminating the need for intermediaries.
