#decentralizedata #economicincentives #blockchain
WHAT IS DML?
A decentralized machine learning ecosystem designed to unleash the untapped potential of privately held data to facilitate machine learning development while providing economic incentives and data privacy to its users. Data, which users have on their devices, like smartphones and computers can be utilized with users’ consent, and users will be rewarded for the same. It will use on-device machine learning and blockchain technologies. DML protocol can connect the idle processing power of these devices and build a magnificent decentralized processor for machine learning.
DML - SOLUTION AND GOALS
The goal of DML is to create a decentralized machine learning protocol and ecosystem, where corporate customers, research institutions, government and non-government organizations or individuals, can acquire and access to machine learning services through the DML ecosystem.
With the aid of DML protocol, the machine learning algorithms can be run on the untapped private data and leverage the idle processing power of individual devices resulting in more precise predictions. Furthermore, the developers can improve their algorithms and their predictability by the crowdsourced model trainers in the DML protocol.
ADVANTAGES OF DML
Unlike traditional data analytics in which data are transferred from the data owners to the developers or a centralized hub for processing, DML protocol will facilitate machine learning algorithms to be run directly on data owners’ devices, such as smartphones. All this without the need to extract any private data or to store the information elsewhere for processing. As a result, individual private data, like own pictures, etc. in smartphones, will be safe and well protected without any data leakage from individual devices.
Nowadays, private data from users are sometimes obtained without users’ consent by various social media sites. DML aims to help users to take control of their private data, and users may permit their data usage for fair incentives or rewards.
HOW CAN DML HELP BUSINESSES, INDIVIDUALS, AND ORGANIZATIONS?
- A business owner of a fashion store can know about the latest fashion trends throughout the globe.
- An investment company wants to know the upcoming investment trends globally.
- A rescue organization wants to know the resources available for rescue operations in the disaster-affected areas.
- All of the above can be predicted much more accurately through decentralized machine learning.
BLOCKCHAIN BASED SMART CONTRACTS
- Smart contracts are utilized to facilitate DML ecosystem as trustless tools free of intermediaries.
- Customers can pay DML tokens to run machine learning algorithms on data owners’ authorized dataset in their devices. The decentralized nodes will facilitate by distributing algorithms and collecting, aggregating and averaging the local prediction results to produce the final prediction report.
- Machine learning developers who sell their algorithm on DML Algo Marketplace, to get paid by the customers through DML tokens.
- Model trainers, who fine-tune and improve the machine learning model, to be rewarded, by the machine learning developers, who want to develop their algorithm for further use.
- The smart contract will run on the decentralized nodes which connect the data owners. Upon completion of the job, the report nodes will produce the final report; the report nodes will update the smart contract. The smart contract will then be executed, and the participants will be rewarded according to the terms stated in the smart contract.
DML TOKENS
- DML token is paid to the data owner to contribute their data usage and idle processing power for running machine learning algorithm in the DML protocol.
- Tokens are utilized to acquire machine learning algorithms in the marketplace.
- Decentralized nodes will be rewarded in the protocol.
- Algorithm trainers will be rewarded to fine-tune algorithms.
- Data owners will earn DML tokens from up to two sources, customers, and user growth pool.
GROWTH POTENTIAL WITH DML
A smartphone is an extension of our body, and it is also a gateway for us to reach the outside world digitally through the mobile network and internet. The potential of DML protocol is far more than facilitating algorithms or programs to be run directly on these decentralized networks. Ultimately, DML aims to leverage the decentralized network that connects potentially billions of devices all over the globe to be able to communicate with each other.
Ultimately, the self-communicated network can self-detected and self-initiated to acquire useful information scattered across the globe to formulate valuable predictions with global impact that may be beyond human imaginations.
CONCLUSION
DML is a gamechanger in utilizing untapped private data with the consent of the user and rewarding and incentivizing the user for their data usage.
DML, built on ethereum at first and target for multi-chain support in future, will help unleash the full potential of privately held data in smartphones globally, but with data remaining in the phones and only the collective analyzed results shared with the algorithms through a secure network. This will be a start of a new decentralized machine learning era.
Know more about DML below:
Website: https://decentralizedml.com/
Reddit: https://www.reddit.com/r/decentralizedML/
Medium: https://medium.com/@decentralizedml
Telegram: https://t.me/DecentralizedML