RippleModelMarket

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business model
solution
user functions

What is RippleModelMarket? 💜💙

It is a marketplace for artificial intelligence and machine learning models on blockchain infrastructure.

Inspiration 💡

🚧 We are two freelance deep learning developers. There are platforms and marketplaces for artificial intelligence (AI) or machine learning (ML) models, but most of them are closed for freelance developers. Furthermore the cloud-based services provide support on their own infrastructure that can be really expensive. In the best case if a company wants to test a model with its own data, it has to pay for the infrastructure. In the worst case, there is no chance at all to make test runs before paying for the model. Unfortunately the worst cases occur more often. There are scam sites also, that erodes trust. Developers have only a small chance to sell their own model beside the major companies.

🔥 AI is a really hot topic. More and more companies and individuals use some kind of AI or ML in daily practice. This is necessary, since avoiding the usage of cutting edge technologies makes a huge drawback.

⚖ The legal regulations of AI is forming in the US and in the EU. Freelance developers and small teams can implement solutions or retrain already existing models to meet the legal requirements of Trustworthy AI Principles, different data protection regulations or AI regulations.

What it does ❓

👜 RippleModelMarket provides a marketplace for AI and ML models. It connects the developers with the end customers directly. Developers can upload models and set up different monetization plans for selling the models. Models can be rented, bidded or bought immediately.

🔎 Customers or buyers can search and buy models. There are different filtering options to narrow down the results. The marketplace provides a place for different frameworks, like Pytorch and Tensorflow. However, the biggest advantage of the site comes with Tensorflow, since any model that is written in Tensorflow JS can be tried out immediately.

🔗 Model descriptors and credentials are stored in the blockchain. Currently, models are stored on server side, but in the near future we want to migrate the whole storage process into an IFPS blockchain.

Requirements:

✅ XRP EVM compatible chain wallet with token

✅ Metamask

✅ Webbrowser with Javascript support

How to use as a developer 🔩

For developers, using RippleModelMarket as easy and simple. There is an upload form where developers can fill out details of the model like the framework, version number, description or the monetization plan. The physical location of the model files can be on centralized servers or on a file service blockchain as well. At the moment we store models on the server side.

Developers don’t have to make a deposit to use our service. RippleModelMarket is really open for everyone.

How to use as a buyer 🛒

Customers can search for models on the website. There are different options to filter the results like framework or the paying method. The customer can use the model after the payment. If the customer makes a bid for a model and the developer closes the auction without a winner, the system distributes back the money.

How we built it 🔨

🧱 1️⃣ Market Research and Validation:

✅ Conduct extensive market research to understand the needs, challenges, and preferences of developers and companies in the AI and ML space.

✅ Validate the demand for a blockchain-powered marketplace through talking with our partner companies.

🧱 2️⃣ Define Core Features and Functionalities:

✅ Clearly outline the core features and functionalities of RippleModelMarket based on the identified market needs. There is a size and process limitation in blockchain, since the available resources are limited.

✅ Prioritize features such as blockchain-based model storage, transparent interfaces, model monetization options, and a robust rating system.

🧱 3️⃣ Blockchain Integration and Architecture Design:

✅ Develop smart contracts to facilitate transactions, monetization plans, and the overall functioning of the marketplace.

🧱 4️⃣ User Interface (UI) and User Experience (UX) Design:

✅ Engage UX/UI designers to create an intuitive and user-friendly interface for both developers and companies.

✅ Focus on simplicity, transparency, and ease of use in the model uploading, browsing, and transaction processes.

🧱5️⃣ Development of RippleModelMarket Website and Backend:

✅ Develop the RippleModelMarket website, incorporating the designed UI/UX elements.

✅ Build the backend infrastructure to support the functionalities of the platform, including model storage, transaction processing, and user management.

🧱 6️⃣ Faucet Collection:

✅ Collect faucets for testing and deployment.

🧱 7️⃣ Smart Contract Deployment and Testing:

✅ Write and deploy smart contracts on the XRP EVM compatible chain for thorough testing.

✅ Conduct rigorous testing to ensure the security, functionality, and efficiency of the smart contracts.

🧱 8️⃣ Showcase Models and Use Cases:

✅ Upload basic AI and ML models onto the platform to demonstrate its capabilities during the initial launch.

✅ Showcase use cases, such as practical demonstrations of model applications, to attract and engage potential users.

🧱 9️⃣ Testing:

✅ Launch RippleModelMarket for testing functions.

Challenges we ran into 💪

💪 Optimizing solidity code

💪 However, we made a smart contract with small resource needs, Spurious Dragon standards further increased the limitations of blockchain smart contract capacities. Combining more contracts together includes a high risk of connection losses and malfunctions, therefore we developed a thinner version of the contract.

Accomplishments that we're proud of 😎

😎 We deployed a smart contract on the XRP EVM compatible chain: 0x029290c564Ef921c56a784AA16C97E930dAF7372

😎 The deployed smart contract were successfully integrated into a web service.

😎 Code Walkthrough: https://youtu.be/oAyOQqAFm8o

What we learned 📘

🧠 How to optimize a solidity code

🧠 The basics of the XRPL EVM Sidechain

What's next for RippleModelMarket 🚀

We believe in RippleModelMarket is a real game changer in the deep learning market. That’s why we want to develop it further. Here are the most important next steps:

🟦 create a better design

🟦 store models in blockchains (IPFS)

🟦 seeking VC investments