August 2018 — Consensus AI Community Update
Our quest to deliver superior intelligence to governance — much like all historical disruptions — does not come without challenges. We have made some adjustments to ensure our incentive structure is aligned with the long-term goals, and we’ve refined our wallet for easier adoption.
Sentient Network is Live — Again!
We are happy to announce the (re)launch of the Sentient network — this is a huge milestone for the project, and we appreciate the community’s support as we worked through some issues these past few days.
The Sentient.org website is live once again with up-to-date wallet download links and the instructions for the mining tools on the new network.
Earlier this month, when we first brought the network online, user behaviour revealed flaws in Sentient’s economy design, primarily the elevated rewards schedule. After consulting with a number of mining experts, we are confident that the revised rewards schedule maximizes the benefit to both miners and the SEN economy as a whole. As such, we concluded the right way to proceed was to go through the effort of correcting these issues immediately and relaunching the network.
We initially thought that the elevated rewards would attract consumer miners to the network and while the intention was right, the mechanics created the wrong incentives. The network has eliminated the elevated rewards period. All blocks mined will have a reward of 1000 SEN until the end of 2018, after which it will drop to 999 for 2019, 951 for 2020, etc. We are much happier with this new version and conclude that it supports the long-term ambitions of the project much better.
Sentient needs to be able to bring together consumer data with tools to allow anyone to make better decisions using artificial intelligence technologies, and for this to work we need wide consumer adoption — this is one of the reasons we dedicated time and attention to things like simple and aesthetic wallet design and the CPU miner . The wallet is the first version of what is to become a robust consumer interface for interacting with the Sentient network, allowing anyone with relevant data to help improve machine learning algorithms.
This decision will help our project achieve the set goals of democratization of blockchain and artificial intelligence technologies, giving equal opportunities to people to participate, and allowing everyone to benefit from this tech. It helps protect the network economy from attacks and supports market stability. We believe this is a far more responsible economic design for both the short and long-term viability of the project.
Note: If you ran a full node before August 3rd, you will need to delete the Sentient network software tools as well as the data directory. Please download and run the updated sentientd; otherwise, you will not be able to connect to the network.
ERC-20 to Native Sentient Coin Swap
We’re excited to announce that starting today you will have the opportunity to swap your ERC-20 SEN tokens for native Sentient coin. To do so, go to the Sentient Token Swap Website to start the process. Detailed instructions can be found here.
**Also see this post about setting up your Sentient Wallet and generating your Sentient network public address (necessary for the Token Swap)
NOTE: Once the Sentient Token Swap process is completed, it can take up to 48 hours to receive the native Sentient coins in your wallet, please be patient. You will see the status of your transaction changed to “distributed” after the system sends the native SEN coins.
As the native SEN coin is not yet available on exchanges, we will not be imposing an imminent deadline on swapping the current ERC-20 tokens to the native SEN coin. While our ambition is to make this process happen as quickly as possible, we understand the need for liquidity of the ERC-20 SEN token. You can find the ERC-20 SEN token on Bitfinex, Ethfinex, and IDEX. There is a lot of work currently happening behind the scenes to make the native SEN coin available to as many people as possible, which includes making SEN available on more global exchanges. There is much more to come here, standby for updates.
For any additional questions on the Token Swap, please use to following communications channels:
And over email: email@example.com
Consensus World Citizen Airdrop Claim
For those who did not claim their airdrop before August 3, please keep in mind that the airdrop claim is still open. Just download the native Sentient wallet and follow the directions here. Distributions will be made on a weekly basis moving forward.
Mining Sentient Network Coin
For those interested in mining native SEN tokens, you can find detailed instructions here
Having launched the main network, we are now entering the next phase of the development roadmap which includes the work on our own consensus protocol we call Proof-of-Compute (PoC).
As part of the development of the federated machine learning on the blockchain, we’re building a consensus algorithm that uses verifiable computation to secure the ledger while performing useful computations that train machine learning models.
Step one of this update will be upgrading the protocol whereby a federated learning problem can be distributed to untrusted clients on the blockchain. Step two will be the implementation of the verifiable computation layer that will help secure the transaction ledger. We anticipate the initial release of Proof-of-Compute on our testnet in late 2018.
Partnership with LFG Global
The Consensus AI team has entered into a strategic partnership with LFG Global. LFG Global is a multi-strategy investment fund with a focus on early-stage blockchain and cryptocurrency investments. LFG Global has worked with and advised over 50 blockchain projects since the start of 2017 and will serve as a strategic advisor for Consensus AI going forward.
Dustin Plett, Consensus AI Chief Strategy Officer, will be attending Consensus: Singapore 2018 in September meeting with strategic partners in Asia. If you’re coming to the conference, get in touch/meet with Dustin (telegram: @cryptokroeger).