Increasing Artificial Intelligence
The surge in interest around artificial intelligence within the retail crypto community can be traced back to the fourth quarter of 2022. This heightened curiosity coincided with the widespread adoption of ChatGPT, a chatbot leveraging OpenAI's GPT-3 language model. The public release of this technology sparked a ripple effect, prompting various crypto teams to incorporate AI components into both their marketing and technological development approaches.
Then it was Bard, Midjourney, and Bing AI that led us to the AI Boom.
What is Artificial Intelligence (AI)?
Artificial Intelligence, abbreviated as AI, encompasses the creation of computer systems designed to emulate human intelligence in performing diverse tasks. It employs a spectrum of techniques and methodologies to replicate cognitive functions akin to those of humans, encompassing analysis, reasoning, problem-solving, perception, and language comprehension. The overarching goal of AI is to develop machines capable of adapting to novel information and scenarios, with the ultimate aspiration of showcasing attributes such as creativity and continual self-enhancement.
AI Crypto – 3 Types:
AI cryptocurrencies represent digital assets with ties to the realms of artificial intelligence and machine learning. It's important to note that not all AI cryptos are directly anchored to these technologies. In many instances, the integration of AI serves as a key element in their promotional narrative. However, a subset of these cryptocurrencies boasts distinctive technologies that warrant closer examination and review.
AI Token – Fundraising
Certain tokens play a role in the fundraising initiatives of AI projects. Similar to ICOs and IDOs, these tokens utilize cryptocurrency as a convenient, transparent, and inclusive method for raising funds from the retail audience. This approach aims to provide a seamless and accessible way for individuals to contribute to the financial backing of AI projects.
AI Token – Marketing
The majority of cryptocurrencies affiliated with AI often ride the wave of hype surrounding a robust narrative. Many position themselves as groundbreaking, claiming titles such as "the first AI meme coin" or "a collection of AI-generated NFTs." However, it's essential to note that artificial intelligence does not play a substantial role in the technical designs of these cryptocurrencies. The emphasis tends to be more on the marketing narrative rather than the integration of AI into the core technological framework.
AI Token – Tech
Certain AI cryptocurrencies are intricately woven into technological frameworks centered around AI and ML. One example is their incorporation into the tokenomics of a proof-of-stake system supporting a distributed GPU ecosystem for large language models. In such instances, the cryptocurrency becomes indispensable for the monetization of AI-associated resources and instruments, forming a crucial component of the ecosystem's functionality.
TOP 10 AI Crypto of 2024
Our focus shifts now to the most promising AI cryptocurrencies worth monitoring in 2024. To stay informed, one can track AI tokens through categories like "Top Artificial Intelligence (AI) Coins by Market Cap" on CoinGecko or the "Top AI & Big Data Tokens by Market Capitalization" on CoinMarketCap. These platforms offer valuable insights into the market dynamics and rankings, aiding investors in identifying and keeping tabs on the most impactful AI cryptocurrencies.
Render Network (RNDR)
Render Network (RNDR) stands out as a pioneering AI cryptocurrency, making its debut in 2017. Positioned as the inaugural decentralized GPU rendering platform, RNDR facilitates artists worldwide in scaling GPU rendering work on-demand through high-performance GPU nodes.
The inception of Render Network addresses the surging need for dependable GPU resources, particularly in response to the heightened enthusiasm surrounding AI development. As the demand for such resources continues to grow, RNDR positions itself as a solution to meet the evolving requirements of artists and developers globally.
Fetch.AI (FET) is dedicated to the development and advancement of "AI agents," representing a modular set of building blocks adaptable for scaling various real-world applications. These "AI agents" function as either mini-applications or components of computational infrastructure.
FET, the AI cryptocurrency associated with Fetch.AI, operates as an Ethereum-based ERC-20 token. This cryptocurrency plays a pivotal role in enhancing the tokenomic design of the platform and serves as a crucial instrument for its monetization strategy. FET facilitates the efficient functioning of the ecosystem, contributing to the overall viability and success of Fetch.AI's mission.
SingularityNET (AGIX) represents a groundbreaking decentralized blockchain marketplace for AI resources, serving as the first of its kind. Engineered to expedite AI breakthroughs across diverse technological domains, SingularityNET (AGIX) not only provides computational resources for AI development but also features the AI Publisher, facilitating the release of AI-powered applications.
At its core, the native cryptocurrency AGIX operates as a pivotal component. AGIX can be staked and seamlessly bridged between Ethereum (ETH) and Cardano (ADA) blockchains. This unique capability empowers AGIX holders to effortlessly engage in and benefit from AI development within the SingularityNET platform, showcasing its commitment to user-friendly accessibility and blockchain interoperability.
Akash Network (AKT)
Akash Network (AKT) emerges as an open-source Supercloud platform specifically crafted for the secure and efficient exchange of computing resources. Users within the Akash Network (AKT) ecosystem can deploy their applications seamlessly, mirroring the familiarity of processes on platforms like AWS or Digital Ocean.
The innovative cloud computation system of Akash Network operates on the principle of auctions, resulting in a noteworthy cost advantage—resources on its cloud are 20% more economical compared to competing alternatives. Prioritizing maximum stability and customizability, Akash runs on Kubernetes, a leading container orchestration system in the industry. This strategic choice enhances the overall performance and adaptability of the Akash Network platform.
OriginTrail (TRAC) represents a bold initiative that harnesses the power of blockchain and AI technologies to combat counterfeiting and copyright infringement within the retail sector. At its core, the Decentralized Knowledge Graph by OriginTrail (TRAC) integrates knowledge graphs and blockchain technologies, creating a platform for a universe of AI-ready knowledge assets. This innovative approach allows multiple stakeholders to engage in trusted knowledge sharing.
Within the OriginTrail (TRAC) ecosystem, the OriginTrail Parachain serves as the foundation. Operating within the DKG (Decentralized Knowledge Graph) innovation hub on Polkadot, this ecosystem demonstrates a commitment to fostering collaboration and innovation in the pursuit of addressing challenges related to counterfeiting and copyright infringement in the retail industry.