September 03, 2024
FLock.io, a leader in decentralized AI, has received a grant from the Ethereum Foundation’s 2024 Academic Grants Round to fund research on incentive mechanisms for blockchain-based machine learning solutions. The Ethereum Foundation, a non-profit supporting the Ethereum ecosystem, is providing $1 million in grants for academic work related to Ethereum.
Project | Latest Raise Date | Stage | Lead Investor | Category |
|---|---|---|---|---|
September 3, 2024 | Grant | The Ethereum Foundation | AI |
FLock.io, which recently raised $6 million in seed funding, is developing a collaborative decentralized AI training platform with on-chain governance. Founded by Oxford graduates, this London-based Web3 startup aims to shift power from centralized corporations to the community.
The grant will support FLock.io’s research on optimizing incentive mechanisms to prevent malicious behavior in decentralized AI development. This project will enhance the ecosystem by using smart contracts to ensure secure and trustworthy decentralized AI systems while maintaining data privacy.
The research builds on FLock.io’s paper on defending against poisoning attacks in federated learning with blockchain, proposing a peer-to-peer voting and reward system to protect against malicious activities.
The project is led by Dr. Zhipeng Wang, a blockchain researcher at FLock.io and Imperial College London, and Jiahao Sun, FLock.io’s founder and CEO, also a research fellow at Imperial College London.
Dr. Wang expressed gratitude for the grant, emphasizing their goal to leverage smart-contract-enabled blockchains, particularly Ethereum, for secure decentralized AI systems. Sun highlighted their aim to push the boundaries of blockchain and AI research and collaborate with diverse communities to transform the landscape.
About Flock.io
FLock.io is a platform that focuses on decentralized AI training using federated learning. This means that data stays local while models are trained collaboratively. The platform supports various applications, such as AI companions and health analytics, and aims to create a privacy-preserving solution for AI. Users can contribute data and feedback, and are rewarded for their participation.
Website: https://www.flock.io/
X Followers today: 89,322
X Followers 30 days ago: 78,881
X Change: 10,441 (+13.24%)
About Investor
Investor: The Ethereum Foundation
The Ethereum Foundation’s Academic Grants Round is a program that provides funding to support academic research related to the Ethereum ecosystem. For 2024, they have allocated $1 million in grants. The program aims to foster research in various domains such as cryptography, economics, game theory, security, and more. Researchers, universities, and other academic institutions are encouraged to apply. The goal is to advance the Ethereum ecosystem by supporting innovative and impactful academic work.
A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.
Comments