Poseidon has successfully raised $15 million in seed funding, led by a16z Crypto, to create a decentralized data layer designed to improve artificial intelligence training. Based in San Francisco, Poseidon aims to tackle the critical shortage of high-quality, IP-cleared training data necessary for AI development.
Chief Scientist Sandeep Chinchali emphasized that the primary challenge lies not in technology, but in the availability of quality data. The platform will leverage decentralized infrastructure to legally collect and distribute data sets, utilizing Story Protocol’s on-chain licensing for enhanced traceability and monetization. This approach ensures that data contributors are fairly compensated while protecting developers from intellectual property risks.
Chris Dixon from a16z Crypto noted that this initiative has the potential to establish a new economic foundation for the internet, rewarding creators for their contributions. Poseidon plans to partner with multiple AI labs and use the funding to strengthen its infrastructure, including the launch of tools for developers and data suppliers, with early access expected this summer. @WalletConnect #WalletConnect $WCT #Chainbase @Chainbase Official @Caldera Official #calderaxyz $ERA @Lagrange Official #lagrange $LA
Owning at least one Bitcoin places you in a highly exclusive category, with only approximately 800,000 to 850,000 unique holders among a global population of 8 billion. This means that Bitcoin holders represent just 0.01% to 0.02% of the total population. The rarity of Bitcoin ownership is further underscored by the fact that fewer than 0.18% of all cryptocurrency holders possess a complete Bitcoin.
With current Bitcoin prices surpassing $120,000, acquiring a single coin requires substantial financial resources and a strong belief in its value. Despite there being 16 million millionaires worldwide, fewer than 900,000 individuals own 1 BTC or more, making Bitcoin ownership rarer than reaching millionaire status.
The total supply of Bitcoin is capped at 21 million coins, with over 19.8 million already mined, leaving less than 1.2 million coins available. Moreover, a small percentage of addresses control a significant portion of Bitcoin, with the top 100 addresses holding over 58%.
In the crypto industry, the emphasis on decentralization has often eclipsed the practical needs of traders. This has resulted in a system that favors ideology over functionality, driving serious traders toward centralized finance (TradFi). To effectively compete with TradFi, decentralized finance (DeFi) must enhance its performance.
This is where the concept of Minimum Viable Decentralization (MVD) comes into play. MVD seeks to strike a balance between maintaining decentralization and providing the speed and reliability that traders demand. While TradFi has adapted to cater to high-frequency trading, DeFi faces challenges such as slow transaction speeds and inconsistent execution.
For DeFi to attract serious traders, it must implement technical standards that guarantee rapid execution and high availability. MVD suggests that protocols can uphold essential decentralization while also optimizing for performance. As DeFi continues to expand, particularly in the derivatives market, it is crucial for the sector to adopt MVD principles to build trust and satisfy both institutional and retail investors.