Synapse AI ICO Token Review – ICO Token News
Users are now enjoying a complete control over data back as Synapse AI takes place into the market. Synapse AI has been designed as a high tech-savvy platform, where people come to exchange data with SYN Tokens. What type of data, by the way – for example – ‘Machine Learning Model Developers.’ Users can actually purchase or contribute this type of data from and to the Synapse AI marketplace in exchange of SYN Tokens. In a layman’s terms, people can earn and spend data in exchange of SYN tokens.
You must have heard the contemporary saying – ‘Data is the new oil.’ It is a commodity that anyone would come in need of at the cost of anything. But, here it takes place into the SYN Tokens. Earlier, even the data exchange platform or system was not fair or balanced enough, which is why Synapse thought to integrate itself with AI and experience a different approach. The brand is presently into creating AI-based economies, enabling anyone to participate and get rewarded in return.
Tokenizing the data exchange system, Synapse thinks, it will be fairer and more balanced in the process. Moreover, there forms an economy between common users with the asset transferred via SYN tokens.
Below is the brief of how users can interact with the marketplace, i.e. Synapse AI –
Data sellers involve the common people like I and you. Being an ordinary agent, you can connect whatever device (PC, laptop, smartphone, tablet) to the Synapse AI platform and sell data to a number of available more participants and receive rewards in time for sharing data with the world.
They mostly include business entities, who are constantly looking for data to help their on-going projects grow and earn profits. Data purchasers will simply connect their smart devices to the Synapse AI platform and buy relevant data in exchange with SYN tokens.
A quick look at the Synapse AI ICO 2017
The pre-sale of Synapse AI started on September 18, 2017 followed by their public ICO, having started on October 21 and ended on November 21. This is again set to be followed by 2 and 3 Tier ICO by the first quarter of 2018.
Funds – where is it supposed to go?
The raised amount is to be used for every transaction, occurring at the marketplace. This will moreover be used to empower secured exchanges between users and the data, machine learning models and services.
The token breakdown –
- Total number of SYN Tokens – 1, 000, 000, 000
- Tokens to be sold in pre-sale and ICO – 1/3rd of the total.
- 33% of the remaining tokens to be distributed to the developer fund
- Another 33% of the tokens will go to companies
- And, token sale costs – 1%