Yes sir, we sure do like those 100x hidden crypto gems. But we need to talk about artificial intelligence. Artificial Intelligence is widely seen as one of the breakthrough technologies of the next decade. It has the potential to revolutionize the way the world does business, accelerate new technologies, and create new types of social and financial networks that haven’t previously been possible.
The AI revolution is happening right now in the world of crypto. In this guide, we’ll cover 5 of the best AI crypto tokens for this year and explain how AI crypto works.
Also, if you’re looking to play some crypto poker, we’ve got 5 of the best apps to check out right here.
1. Ocean Protocol
First up we have Ocean Protocol. Ocean Protocol is a crypto on-ramp for data services which unlocks the value of data. Founded in 2017, it uses blockchain technology to connect data providers and consumers. Data owners can sell data through the Ocean Market app in order to monetize their data while preserving privacy and control. Consumers, on the other hand, can buy private data that they couldn’t previously access.
This is particularly useful for AI practitioners and data scientists who benefit from access to more data, crypto-secured provenance, and income opportunities. Compute-to-data allows private data to be used in AI models and to aid research without sharing it directly. Ocean Protocol users can also earn through curating data by staking on it. Meanwhile, developers can use Ocean Libraries to build and launch their own decentralized marketplaces, wallets, and more. The OCEAN token is the native utility token of the protocol and is the default unit of exchange when buying and selling data on the Ocean Market. It is also used for governance and staking.
The way it works is Data assets are connected with blockchain and decentralized finance tools through datatokens. These are ERC-20 tokens which represent the right to access data. Providers publish data services by deploying and minting datatokens, while consumers spend datatokens to access those services. A consumer sends 1.0 datatokens to a data provider in order to access a dataset. They could also send 1.0 datatokens to someone else to give them access. Bottom line this is definitely an AI crypto you need to consider.
2. Fetch.ai
Second, we have Fetch.ai. Fetch.ai is one of the best emerging cryptos this year. This blockchain-based platform uses AI and machine learning to create what it calls ‘autonomous economic agents.’ These agents act on behalf of individuals to generate profits through various means.
An example of an autonomous economic agent in action is a crypto trading robot on a decentralized exchange like Uniswap – the agent can buy and sell crypto to turn a profit for its owner. Alternatively, these agents can be used to share data between devices or to automatically process transactions and earn fees in the process. The flexibility of Fetch makes it incredibly powerful. Autonomous economic agents can form the basis of future decentralized marketplaces or can help connect devices in the Internet of Things.
Fetch.ai has its own blockchain that combines proof of work and proof of stake validation mechanisms. Miners on the blockchain earn FET tokens as a reward for validating transactions, and these tokens can be used to pay for the use of autonomous agents running on Fetch’s network.
3. Cortex
And next we have one of our favorites Cortex. Cortex is a public blockchain infrastructure that supports the execution of AI algorithms and AI-powered dApps. Cortex provides a platform for AI developers to upload their models onto the blockchain and incorporate them into smart contracts.
The key technology of the Cortex blockchain is the Cortex Virtual Machine (CVM); the CVM is ported from the Ethereum Virtual Machine (EVM) and is backward-compatible with the EVM with added layers for AI inference (infer instructions and deterministic inference engine). Infer instructions allows models to be called in smart contracts through instruction sets. The deterministic inference engine, called Synapse, guarantees exactly the same result of an AI model in different computing environments and thereby making network consensus on AI program executions possible.
The CTXC token is used as a fee for transactions and smart-contract executions. When a transaction is invoked, Endorphins fees (similar to Ethers Gas fee) are not only allocated to miners who help package the block on the full node but also used to pay the AI model providers.
A single execution of a contract will cause a fee of Endorphins Limit * max Endorphins Price. Generally speaking, the cost of the Endorphin is proportional to the size of the model. As a result, smart contract developers pay and sustain AI developers, while AI developers are incentivized to provide more quality AI models to smart contract developers, creating an ecosystem that leads to the evolution of better and better AI models. The Cortex blockchain can decentralize AI by creating a tokenomic model that incentivizes AI developers to share their models.
4. SingularityNET
Fourth we have SingularityNET. This is a revolutionary platform that reimagines AI by providing a decentralized marketplace for developers to create, share and monetize their AI services. The platform uses blockchain technology to ensure that AI services are accessible, secure and transparent.
As the world’s leading decentralized AI marketplace, SingularityNET strives to merge AI and machine learning (ML) to improve application efficiency. The platform offers users a vast range of AI services that can be purchased using the native utility token AGIX, and developers can sell and publish AI tools while monitoring their performance.
SingularityNET is led by co-founder and chief scientist, Ben Goertzel, and a diverse team of AI researchers, engineers and developers. The project was launched in 2017, and a year later, it conducted an initial coin offering (ICO), raising $36 million in one minute. As of February 2023, SingularityNET’s market capitalization is around $500 million. The project comprises four key components that work in unison — the AI marketplace, the native token AGIX, the AI publisher and the developer portal, all of which collaborate to create a thriving ecosystem for AI development and innovation.
5. The Graph
And last but certainly not least we have The Graph. The Graph is an open-sourced software used to collect, process and store data from various blockchain applications to facilitate information retrieval. Originally launched on the Ethereum blockchain, The Graph’s mission is to help developers use relevant data to increase the efficiency of their decentralized application (dapp). The Graph analyzes and gathers blockchain data before storing it into various indices, called Subgraphs, allowing any application to send a query to its protocol and receive an immediate response.
Queries are posed by dapps through GraphQL, a widely used language originally created by Facebook to gather data for a user’s news feed. The Graph users who provide services to the network, called indexers and delegators, help to process the data and pass them on to end-users and applications.
The way The Graph works is the first step for aggregating data happens through the Graph Nodes, who continuously scan network blocks and smart contracts for information. When an application adds data to the blockchain through smart contracts, the Graph Node adds the data from these new blocks to its appropriate Subgraphs. Once the Graph Node extracts information, there are three types of users who contribute to organizing data in its protocol. Bottom line this is another solid project to take a look at.
Final Thoughts
The AI sector for cryptocurrency is exciting because it is some what untapped. Getting in early on some of these coins could give you big returns. Obviously, do your own research but we strongly believe in them. If you’d like to see some more great coins click here.
