What is DeepBrain Chain (DBC)?
Future of DBC Cryptocurrency and know how to buy DBC

#1 - What is DeepBrain Chain (DBC)?

DBC: The basics

  1. The DeepBrain Chain is a decentralized neural network which refers to a computer system that is modeled on the nervous system and the human brain.
  2. Using blockchain tech, the DeepBrain Chain team has created a low-cost, privacy-protected as well as a decentralized AI computing platform which will include a wide range of services and products.
  3. Computational power for AI companies will be supplied from countless nodes from all around the world, and will also receive DBC as rewards.
  4. DBC, the DeepBrain chain token is traded through smart contracts on the basis of NEO. The chain uses a hybrid consensus mechanism by combining Proof of Importance and Delegated Proof of Stake.
    1. Proof of Importance: It is a mechanism used for determining the network participants, also known as nodes, which are capable of adding blocks to the blockchain.
    2. Delegated Proof of Stake: It is the most efficient, fastest, decentralized, and flexible known consensus model. It provides an advantage to the power of a stakeholder’s approval that is voting to resolve the consensus issue in a democratic and fair manner.
  5. The blockchain is a platform with the secured way of trading data, by separating the data ownership from data usage and maximizing the value of data while making sure that the data stays private.  

What is DBC?

DeepBrain Chain is a decentralized neural based network that is focused on privacy and low-cost transactions. Few things that DeepBrain Chain focuses on are:

  • Low Cost: The DeepBrain Chain system saves an enterprise of around 705 computing power costs.  
  • Security: The insulated environment of the data transaction is secured with the smart contracts and encryption algorithms.
  • Privacy protection: It separates the ownership of data from usage of data by using smart contracts.
  • Flexible Computing: The DeepBrain chain has an active provision of computing power based on demands.

Top advantages of DBC

  • Top Scientists: The platform was awarded the first position amongst various enterprises competing for SMP2017, the Chinese man-machine dialogue evaluation. More than thirty best Chinese AI enterprises joined the competition for the same.    
  • Model Innovation: World’s very first AI computing platform that is also powered by Blockchain is DepBrai Chain. It also holds to have the two most revolutionary important technologies things in the 21st century, AI, and Blockchain.

DBC Development  

  1. The DeepBrain Chain was launched in April 2017.
  2. The entire DBC team is based in Shanghai and holds full experts in technology and AI with various members who are the holders of Ph.D. The team is very much competent in the fields of AI and technology.
  3. Feng He, CEO, DBC, presided over the development of world’s first AI speaker box and beat the Amazon Echo in the market by just 6 months.
  4. The DeepBrain Chain recently announced its partnership with Singularity NET in June 2018. The companies decided to launch a platform which will grant public access to the AI algorithms. Both the companies are looking forward to building and supporting a decentralized AI framework. Singularity and DBC are combining their computing power and resources, permitting the users to access information, algorithms, and data on both the platforms, which will further result in a joint marketplace.
  5. The ultimate goal of DBC is to build a sustainable, long-term decentralized software network filled with human developers and AI agents.     

DBC Initial Coin Offering

  • The ICO for DBC happened in December 2017.
  • The price of the DBC token during the time of crowdsale was 2200 DBC for one NEO.
  • The token sale of DBC was a huge success that sold out the within one hour of the sale of the public token and sold around 600 million tokens in the presale.

 

#2 - What are the benefits of DBC

DBC Technologies

  1. DBC delivers a low cost, private Artificial Intelligence (AI), and decentralized platform. Its blockchain utilizes computer resources from individuals all around the world and brings them together for providing computational resources.
  2. The primary goal of DeepBrainChain is to provide cheaper computational resources to the AI companies as the resources gradually grow more expensive. If about 10-30% of the total budget of an AI company is estimated to being spent on hardware, DBC claims to reduce the total price on this by around 70%.
  3. DBC mining involves the miners are paid in DBC for the work they have done on the entire network which goes towards the computational needs of AI. The miners also get payment in GAS as DBC is on the NEO platform too. GAS is the fee paid by the AI companies for using DBC and the estimation that miners get paid is 30% GAS and 70% DBC.
  4. DBC does not just want to achieve in the decentralized supply of computing power but also intends to have a trading platform of AI data, AI model, AI algorithm, AI application, and AI container, but there is very less information present regarding the same.
  5. The participants provide their GPU, FGPA datasets or computer processing power, which is then broadcasted to the entire network in the form of docker images. The algorithm then provides them with a reward for their services.
  6. Platform users than will have to pay for getting the access to these computing powers for testing their AI models, or they will have to build or sell the data sets for the same.
  7. This is a diagram from the whitepaper tells the entire idea in a visualized form:  

DeepBrain Chain layout (Image Source: TheGlobalMail)

 

#3 - How to buy and store DBC

How to buy Deep Brain Chain / How to buy DBC

The DBC coin is listed for trading on various trading exchanges globally, and is paired with a few major cryptocurrencies like BTC, ETH, BNB, KRW, and USDT. This allows DBC users to access or obtain the DBC token by using their crypto holdings, bypassing the need for more KYC norms.   

The entire list of trading exchanges for the DBC cryptocurrency includes major global exchanges such as Allcoin, KuCoin, Huobi, Gate.io, and more.

  1. While cryptocurrency exchanges provide you a platform to buy or sell the PIVX cryptocurrency, CoinSwitch comes in to help you make the right decision by providing the prices for PIVX on multiple crypto exchanges. It supports more than 140 coins and 45,000 pairs of cryptocurrencies. You can choose whichever pair you want with your token and compare the prices at exchanges. This way you can choose the best deal for you!
  2. What’s more - with CoinSwitch, the largest cryptocurrency exchange in the world, you do not rely on a separate wallet from the exchange to store your PIVX cryptocurrency. Instead, all transactions happen to and from your own personal private wallets.

DBC Storage

After obtaining the DBC token, you will require a DBC wallet to store it safely. There are few storage options available, such as:

  • The DBC can be stored in a Neon Wallet designed by the City of Zion
  • DBC token can be stored in any wallet that also supports NEP-5 tokens.

 

#4 - What is the future of DBC token?

Also Read: Complete Analysis of DeepBrain Chain | Live DeepBrain Chain (DBC) Price Charts And Predictions

DBC Global Acceptance

The Market Cap ranking of the DBC cryptocurrency is 127 as of June 2018, and it holds a market capitalization of $63,392,850 USD as of the same time. A total number of 10,000,000,000 DBC coins are in circulation.     

As of June 2018, DBC is presently trading for 9 cents per token.

Price History

Date

Open

High

Low

Close

Volume

Market Cap

1 June, 2018

0.068764

0.084038

0.068722

0.083907

3,035,930

103,146,00

1 May, 2018

0.107457

0.110080

0.099697

0.110080

2,114,950

161,185,000

1 March, 2018

0.079245

0.084311

0.078521

0.081420

1,551,770

71,320,100

1 January, 2018

0.135084

0.167511

0.120513

0.162938

14,193,100

-

Future Prospects

  • Artificial Intelligence is a significantly hyped industry, and attracts both consumer and media attention. Expect DeepBrain Chain to rise and enhance itself over time on the back of this context.
  • DeepBrainChain claims to be a secure data trading platform -  so none of the trading parties should have to worry about the leakage or reselling of data.
  • The blockchainis used for realizing the separation of usage rights and data ownership drastically, which is why the value of data will be largely promoted by DBC.
  • One thing that can bring DeepBrain Chain in the lead is that there are already 100 manufacturers and 200,000 users the 500 AI models at present, which can continue to rise in the upcoming future.

 

#5 - How is DBC different from other cryptocurrencies?

  • Artificial Intelligence and blockchains are two major technologies that are leading today’s innovation, and when these two come together, it eventually becomes unique as well as the kind of best innovation. Same is DBC. The DeepBrain Chain has managed to stand out is the most unique blockchain by connecting with the AI technology.
  • While other cryptocurrencies focus on issues like monetary value transfer (Bitcoin, Ripple) or a decentralised computing (Ethereum), DeepBrain Chain has picked a very specific and niche target to focus on and deliver results with.

 

#6 - Should you invest in DeepBrainChain?

The Good

  1. DBC has created the completely new platform for overcoming the hurdles that are holding back the progress in the field of Artificial Intelligence.
  2. Even though it was an early ICO on the NEO platform, the tokens were sold out in minutes.
  3. The entire team of DBC is very much experienced in the field of AI specific business undertakings.

The Bad

  1. The foundation and the team presently control only 35% of the tokens.
  2. The complete project is too centralized, including the NEO platform it runs on.    

Even though DBC has unique features, it is still not ranked amongst the top 50 cryptocurrencies. The coin somehow is still being overlooked due to other major digital currencies. DBC stills need to rise and market itself better for being in the run for the topmost cryptocurrencies.

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