Synesis One Review [2024] | Earn Crypto by Training AI | Pros & Cons

Summary: In this review, we are examining Synesis One, an enterprise artificial intelligence (AI) data engine that helps companies scale their AI data needs. It combines AI with blockchain technology to address the growing need for scalable data annotation solutions, all through a decentralized and transparent ecosystem, which enables businesses to train AI models while rewarding contributors for their participation.

About Synesis One

Launched to address the growing demand for high-quality data in training AI models, Synesis One aims to bridge the gap between businesses requiring scalable data solutions and contributors seeking compensation for their work. 

At its core, it provides a transparent, efficient, and mutually beneficial marketplace for AI-driven innovation. Building a large, distributed network of subject-matter experts who can provide solutions to domain-specific AI data needs is a central component of its vision.

The platform was founded by Joshua Hong and Paul Lee, two young entrepreneurs with a vision to revolutionize AI development by sourcing diverse, accurate, and reliable datasets. Recognizing that traditional data annotation platforms often fall short in quality, transparency, and contributor rewards, they created Synesis One as an alternative that leverages blockchain technology.

By recording every transaction on the Solana blockchain, the platform ensures traceability and accountability for every piece of data generated or annotated.

Synesis One operates as a two-sided marketplace, where businesses post data campaigns, and contributors complete tasks in exchange for cryptocurrency rewards. This Train2Earn model allows individuals from all parts of the globe to participate, making AI development more inclusive and democratized.

What is data annotation?

AI requires massive, diverse, and accurately labeled datasets. However, existing platforms appear to struggle to meet these demands due to low worker satisfaction, poor task management, and limited support for complex AI requirements. Synesis One aims to address these points by introducing a decentralized, transparent system that benefits clients just as much as workers.

The Synesis One ecosystem

Now, let’s get into the overall ecosystem of the Synesis One platform.

Train2Earn

The Train2Earn concept allows contributors to participate in AI data campaigns and earn crypto rewards. Its key features include:

• Data generation: Creating new training datasets from scratch;

• Image annotation: Assisting vision AI models by labeling images;

• Reinforcement Learning from Human Feedback (RLHF): Enhancing existing AI models;

The system ensures contributors’ work is peer-reviewed and validated before rewards are issued, maintaining quality and accountability.

Blockchain integration

As mentioned, Synesis One operates on the Solana blockchain, which makes transactions traceable and transparent. This on-chain approach provides:

• Immutable proof of data origin;
• Transparent payment records;
• Trustworthy validation processes.

The contributor system

Unlike many platforms relying on unsustainable tokenomics, Synesis One ties its rewards to real-world demand for AI solutions. Contributors are compensated, with 80% of campaign budgets going directly to workers.

The system incentivizes quality work through the following:

• Kanon NFTs: Contributors stake or borrow these to gain access to tasks;

• Peer reviews: Submissions undergo validation, ensuring only high-quality data gets rewarded.

Represented as NFTs, Kanons act as digital keys that contributors must stake or borrow to participate in data annotation campaigns. These NFTs are more than just access tools—they symbolize a contributor’s commitment to the platform and ensure a fair distribution of rewards.

Kanon NFTs also play a role in enhancing the platform’s gamified elements, creating a sense of ownership and engagement for contributors. By incorporating Kanon, Synesis One not only leverages the versatility of blockchain technology but also offers a sustainable and community-driven approach to AI data generation.

How to get started: Step-by-step process

Here’s a step-by-step guide to help you get started with Synesis One:

Step 1: Create an account

The first step in training AI with Synesis One is to create an account. You can do so through your browser or an Android/iOS mobile app.

Once you download the app, you’ll need to sign up. There are several available options, including signing in with your Google, Apple, X, or Discord account. You can also create an account with email. In this case, simply provide your email address and come up with a password, and you’ll be up and running in no time.

Step 2: Obtain a Kanon NFT

To participate in campaigns, you’ll need to stake or borrow a Kanon NFT. Kanon NFTs serve as your access pass to the platform and ensure that you’re part of the decentralized ecosystem. If you don’t own one, you can borrow it from a guild within the platform.

Step 3: Choose a role

Next up, from the workspace, choose the Train 2 Earn option, browse the list of available roles, and press the Enter button. The options include creating data for AI applications (Builder option), validating the data added by builders (Validator option), and creating campaigns to crowdsource data (Architect option).

Each option comes with instructions, so you can choose tasks that match your interests and skills, from natural language data input to image annotations.

Step 4: Complete tasks

Finally, after selecting a role and a task, follow the instructions to complete them. Make sure that your work meets quality standards to maximize rewards. Your completed tasks will undergo peer review by other contributors. This ensures quality and fairness. And once validated, your submissions contribute to the client’s data needs.

Synesis One fees

Synesis One operates on the Solana blockchain, which is known for its low transaction costs. This makes it an affordable option for users engaging in micro-tasks and other activities on the platform.

Users can earn $SNS by providing raw data, data labeling, and data annotation services. When it comes to withdrawing earnings, there are minimal fees associated with cashing out, but these are generally lower compared to traditional platforms.

Furthermore, Synesis One offers a single-sided staking program where users can stake their $SNS tokens and earn up to 8.5% APY. Users can also earn passive rewards by owning a Kanon NFT, which generates rewards every time their unique word is used by Mind AI clients.

Is Synesis One safe?

The Synesis One platform operates as a decentralized autonomous organization (DAO). This means it operates without relying on a centralized entity, making it more secure and transparent. The platform also has a privacy policy to protect users’ personal information.

Based on the said policy, concerns related to safety and data protection include:

• Data collection: Synesis One collects personal information such as name, username, password, IP address, device identifiers, gender, address, email, date of birth, bank account details, etc.;

• Confidentiality: All personal information collected by Synesis One is subject to strict confidentiality rules. They take measures to protect data from unauthorized access and ensure that it is used only for the purposes stated in their privacy policy;

• Location monitoring: The platform collects information about location and IP address to monitor and curb possible attempts to maliciously gain unfair advantages over the platform. Users have the option to turn location monitoring on and off, but disabling it may affect the ability to earn SNS tokens.

Users have the right to request access to the personal information held about them by contacting Synesis One via email.

Tokenomics and sustainability

When it comes to blockchain projects, tokenomics plays a key role in determining the sustainability and success of the platform. A well-designed tokenomics system creates incentives for users, ensures a fair distribution of resources, and aligns the interests of all stakeholders, from contributors and clients to investors and developers.

Synesis One’s tokenomics integrates real-world demand with blockchain technology, aligning its reward system with practical business use cases. Companies using the platform for data annotation pay for services, creating a revenue stream that supports its ecosystem, while contributors earn cryptocurrency as compensation, with 80% of campaign budgets allocated directly to them.

The platform aims to avoid common issues in the crypto space, such as unsustainable or speculative reward models, by tying its rewards to actual economic value. Contributors are compensated based on the quality and quantity of their work, rather than fluctuating token market prices, which adds stability to the system.

So, by focusing on practical applications and utility, Synesis One connects its tokenomics to broader economic systems, aiming for long-term sustainability. This approach seeks to benefit both contributors and clients while addressing the growing demand for scalable AI data solutions.

Why choose Synesis One?

Synesis One offers a unique value proposition for two key groups—businesses looking to enhance their AI systems with high-quality data and contributors seeking meaningful, flexible work opportunities in a decentralized ecosystem.

The platform creates a bridge for these two groups through a mutually beneficial marketplace where businesses can efficiently source data solutions, and contributors are rewarded for their efforts.

By relying on blockchain technology and a decentralized model, Synesis One addresses long-standing inefficiencies in traditional data annotation systems, making it a compelling choice for both parties.

Synesis One for businesses

Businesses adopting Synesis One benefit from a scalable and efficient solution to meet their AI data needs. Whether a company requires annotated images for vision AI, custom data sets for natural language processing, or reinforcement learning from human feedback, Synesis One provides the necessary infrastructure.

Its decentralized approach allows businesses to access a global pool of contributors, ensuring diverse, high-quality, and culturally nuanced data for their AI models. The platform’s transparency through blockchain further instills confidence, as businesses can track data provenance and validation, mitigating concerns about quality and authenticity.

Moreover, Synesis One offers tailored solutions for each client, helping companies optimize their AI training processes while reducing costs and time-to-market.

Key points for businesses

• Efficiency: Synesis One simplifies data preparation, reducing time and costs;

• Customization: Clients receive datasets tailored to their specific needs;

• Transparency: Blockchain integration ensures data integrity.

Synesis One for contributors

For contributors, Synesis One represents a fresh approach to crowd-work, offering compensation and meaningful opportunities in a growing industry.

Synesis One distributes 80% of campaign budgets directly to contributors, ensuring they are adequately rewarded.

The flexibility of the platform allows individuals from any part of the world to participate, regardless of their background or schedule. Contributors also have the chance to develop valuable skills in AI-related fields, such as technical linguistics and data annotation, enhancing their career prospects.

The use of blockchain ensures transparency in payments and recognition of their contributions, which is key for trust in the ecosystem.

Key points for contributors

• Fair compensation: Workers earn 80% of campaign budgets;

• Flexibility: Tasks are accessible to anyone with an internet connection;

• Skill development: Contributors gain expertise in AI-related fields.

Pros and cons of Synesis One

Pros

• Decentralized and transparent system: By leveraging the Solana blockchain, Synesis One ensures that every transaction is traceable and transparent;
• Fair compensation for contributors: The platform’s Train2Earn model allocates 80% of campaign budgets directly to contributors;
• Scalable solutions for businesses: Synesis One caters to diverse data needs, including data generation, annotation, image tagging, and reinforcement learning, making it pretty versatile for AI model development;
• Innovative use of blockchain: The platform’s use of on-chain transactions for data verification and provenance addresses concerns about data authenticity;
• Peer review system: Alongside the Synesis Academy, the platform’s peer review system provides a strong foundation for scaling responsibly;
• Global accessibility: Anyone with an internet connection can participate, making the platform inclusive and opening up opportunities for contributors worldwide.

Cons

• Learning curve for new users: Contributors must understand blockchain concepts and potentially acquire Kanon NFTs to access tasks, potentially deterring users unfamiliar with crypto;
• Dependence on blockchain infrastructure: While blockchain provides transparency, it also introduces risks, such as dependency on Solana’s network stability and scalability;
• Competition in a growing market: As AI and Web3 spaces evolve, Synesis One faces challenges from competitors, which could impact its market share.

Synesis One community and customer support channels

For more details on Synesis One, you can explore their website and social media accounts. Also, you can go through their Litepaper for even more information on the project.

Here are Synesis One’s main community and support channels:

• Website: You can find all you need to know about Synesis One on its official website;

• Blog: Visit the platform’s blog and stay updated on everything that’s going on with Synesis One.

You can also follow and stay in touch with Synesis One via its official accounts on social media platforms, such as Discord, Twitter, and Telegram.

Conclusion

To summarize, Synesis One represents a unique approach to addressing the challenges of AI data annotation by integrating blockchain technology, a decentralized workforce, and scalable solutions.

Its model prioritizes transparency, compensation, and adaptability, which offer an innovative way for businesses and contributors to engage with AI development.

For businesses, Synesis One provides access to tailored data solutions that meet the growing demands of AI systems. On the flip side, it opens opportunities for decentralized work with fair rewards for contributors.

Still, while the platform’s potential to influence AI and blockchain is considerable, its future success will depend on its ability to expand offerings, sustain its user base, and deliver on the proposed development of the following:

• Expanding task types (e.g., dynamic gaming AI, speech-to-text);
• Increasing client base across industries like healthcare and government;
• Growing its contributor network through global outreach.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

FAQs about Synesis One