DeepSeek v3.1 Emerges as Powerful Open-Source AI Contender

DeepSeek, an open-source AI model developed by Liang Wenfeng, has entered the competition against OpenAI’s offerings with its latest version 3.1 release in August 2025. The update boasts significant advancements in reasoning and hardware adaptability, particularly leveraging Huawei’s Ascend chip technology. DeepSeek aims to challenge OpenAI’s dominance in the burgeoning open-source AI landscape while significantly impacting DeFi and on-chain analytics projects. While no immediate financial or regulatory shifts have been observed, DeepSeek is gaining traction within these domains.