After the currency price skyrocketed by tens of times, the rising POW internet celebrity Dynex faces multiple doubts from the community.

Original author: Nancy, PANews

Looking at the current encryption market, most of the popular public chains are POS models, and it seems difficult for POW to come up with a standout, especially since Ethereum switched to a POS mechanism. Recently, new POW internet celebrities such as Kaspa and Dynex have made the market pay attention to the POW track again.

Among them, Dynex, which takes advantage of the AI ​​trend and focuses on the narrative of neuromorphic computing platform, not only attracts the participation of many miners, but also attracts attention in the secondary market due to its dozens of times increase. But at the same time, Dynex began to face multiple doubts from the encryption community, and negative news such as the founders alleged fraud and white paper plagiarism continued to spread.

Claiming to build a neuromorphic supercomputing blockchain, attracting attention due to pull

According to the official introduction, Dynex is a neuromorphic supercomputing blockchain based on the DynexSolve chip algorithm. It uses the Proof of Effective Workload (PoUW) method to improve the speed and efficiency of decentralized networks and aims to provide machine learning, financial technology and biotechnology. Pharmaceuticals, etc. provide computing power.

Dynex network nodes are composed of PoUW miners, allowing any miner to perform Dynex chip calculations and receive native tokens $DNX in return, thus enabling a decentralized network to perform calculations at high speeds and efficiently, even beyond quantum computing. Not only that, Dynex also adopts a completely anonymous peer-to-peer transaction privacy method, and its token $DNX has no IC0, no pre-mining and no team reservation.

Technically, it is difficult for many ordinary investors to verify (we will expand in detail below), but the market performance of Dynex is amazing. According to CoinGeoko data, since the beginning of this year, the price of $DNX has increased by more than 34.7 times.

From the perspective of computing power, data from the hiveon.com computing power management platform shows that as of August 10, $DNX’s computing power accounted for 18%, ranking first in computing power among the POW coins listed on the platform, far exceeding KAS , ETC, RVN and other projects.

In addition, Mining Pool Stats data shows that as of August 10, Dynex’s network computing power was 1.09 GH/s, ranking 38th. In the past six months, Dynexs computing power has also shown an overall upward trend. Although it briefly declined due to algorithm upgrades, it quickly recovered. From the perspective of computing power distribution, the computing power of the top three mining pools accounts for nearly 84.4% of the total.

The founder was punished by the SEC for fraud, and the white paper was suspected of plagiarism

While Dynex became popular, questions began to arise about white paper plagiarism and project team background. Dynex is an anonymous team. Anonymous identities are not uncommon in the Web3 world that focuses on decentralization and privacy, but this means that once these projects do evil, it will be difficult for users to hold them accountable.

As for the anonymity of the teams identity, according to a tweet on the Dynex Chinese channel, Dynexs parent company is a Nordic chip company, which has not yet been made public due to tax and other issues. However, the community did not accept this statement. Some community members discovered that Dynex founder Daniel Mattes had committed fraud. Linkedin information shows that Daniel Mattes is an Austrian Internet entrepreneur and venture capitalist who has founded several companies, including artificial intelligence company 42.cx, VoIP company Jajah and mobile payment and ID recognition startup Jumio.

Among them, Daniel Mattes, the former CEO of Jumio, was charged by the SEC in 2019. According to SEC public documents, Daniel Mattes deceived investors before the company went bankrupt, not only falsely reporting the companys revenue, but also secretly selling the companys stock without reporting it. Although Daniel Mattes neither admitted nor denied the allegations, he ultimately agreed to pay more than $17 million to settle and is no longer allowed to lead a public company in the United States.

Not only that, according to Twitter user @OlivierHelden, the predecessor of Dynex may be DeepQ. The latter not only has the same neuromorphic chip project, but the Adobe Stock Flash serial number of the DeepQ promotional video on Youtube is exactly the same as the promotional video on the Dynex official website ( Currently, Dynex has issued a 404 error regarding this video and cannot display it). Interestingly, another community member revealed that he had his account banned after asking about the relationship between DeepQ and Dynex in the Discord community.

In addition to the team background, the authenticity of Dynex’s two core strengths promoted by Dynex, DynexSolve and PoUW, has also been questioned. According to KOL@陈jian Jason, Dynex can transform any modern GPU into a simulated neuromorphic computing chip through DynexSolve, but such a revolutionary technology has not yet had any public paper. Not only that, neuromorphic computing has not yet been applied in the real world, including top universities, the US military, Intel and IBM are still in the exploratory stage.

As for PoUW, analyst Jason Chen Jian said that for a blockchain, PoUW is too non-standard in the three stages of beginning, process and end. The number and frequency of tasks are non-standard, and the difficulty and difficulty of completing tasks are non-standard. It is time-consuming and non-standard, and the correctness of the verification task results is non-standard. As a result, it is impossible to stably generate blocks and effectively verify them. This chain will not have basic usability.

It is worth mentioning that Chen Jian also pointed out that the Dynex official website shows that 3,300 tasks have been completed, but only 1 is currently in progress, and all of these tasks are black boxes. They have no idea what they are doing, and there is no release of tasks. Entrance.

Regarding these technical issues, some community members believe that Dynex is able to conduct public ML testing, indicating that its technology can withstand public scrutiny. However, the public beta has been postponed multiple times due to technical issues.

In addition, Dynex’s white paper also contains copy-paste behavior. As shown in the figure below, part of the content of Dynex almost copied the digital memory computer (DMM) white paper of the patented American company MemComputing.

Comparison of parts of the white paper between Dynex and DMM

In short, with the popularity of AI and the concept of POW, Dynex is also expected to be favored by funds. In particular, with the explosion of Kaspa bringing about a wave of POW mining, and a large number of mining machines being idle after Ethereum shifted from POW to POS, Dynex has also become a migration target for miners. As Dynex is a project that requires strong technical research and development capabilities, it is reasonable for the community to have various doubts based on interests, but in order to dispel doubts from the market, hard power must be used.