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AI is now Big Business and Big Science, and it’s getting smarter every year. But whose values is AI serving? As it provides more and more economic value to companies and consumers, can we ensure that AI works toward the common good?
SingularityNET is a decentralized marketplace for AI algorithms. The future will be run on AI: automation is already improving more than 700 job types, lowering costs and increasing output.
SingularityNET lets anyone monetize AI algorithms, allowing companies, organizations, and developers to buy and sell AI at scale and removing one of the major limiting factors to AI growth today — the lack of interoperability — which severely restricts the ability to leverage the strengths and capabilities
SingularityNET enables anyone to take advantage of a global network of AI algorithms, services, and agent and No longer must AI technology exist in silos, only capable of operating within a specific company, infrastructure, or industry.
It’s focusing on facilitating the global distribution of AI and offers an AI as a service marketplace.
SingularityNET has an extensive team largely of AI scientists, developers, researchers and engineers.
It was founded by Dr. Ben Goertzel (SingularityNET’s CEO and chief scientist) in addition to Simone Giacomelli and Dr. David Hanson.
Dr. Ben Goertzel is an established figure in the AI and robotics industry and has a long distinguished track record of working with advanced technology companies — including Hanson Robotics and the OpenCog Foundation. He also works as Mozi Health’s chief scientist and vice chairman for Humanity+.
Simone Giacomelli is an entrepreneur and investor that previously worked for crypto consultancy Cryptodex. He left the SingularityNET project in March 2019 and is now focused on the technology R&D lab Vulpem, which he founded in 2015.
Dr. David Hanson is SingularityNET’s third co-founder. He has a long and varied history in the robotics industry, working with Disney between 1998 and 2001 before founding several robotics startups — including Human Emulation Robotics, Initiative for Awakening Machines and Hanson Robotics over the last two decades.
As of February 2021, a total of 861.5 million AGIX tokens representing 86% of the total supply were in circulation. As such, AGIX can be considered largely diluted.
Half (50%) of the total AGIX supply was sold during SingularityNET’s 2017 ICO. Beyond this 20% was reserved for early developer and partner incentives, 18% for the core team members (now fully vested), 8% for the SingularityNET foundation for the long-term development of the platform, whereas the last 4% was reserved for security bounties.
SingularityNet is an ambitious blockchain-driven AI marketplace that started running on Ethereum. SingularityNet enables developers to publish and monetize their AI algorithms easily with its public API and decentralized marketplace.
Anyone can start running a node on SingularityNet, known as an AI agent in the network. AI agents execute smart contracts and can autonomously interact with other agents to exchange data and supply results. Thanks to custom AI tooling to end-users who can contract out single AI agents, businesses can access AI at a fraction of the cost they’d have to pay Big Tech for similar services.
A specific AI algorithm also tracks all interactions on the platform to ensure that it becomes more efficient and eventually creates a first artificial reflection of human neural networks.
Several components make the system work:
While initially launched on Ethereum with a utility token called AGI, the SingularityNet team earlier took all AGI out of circulation and replaced them with their new token: AGIX.
This was part of a bigger initiative of moving the ecosystem to the Cardano Blockchain. The complicated infrastructure bringing together AI and Blockchain can more easily be built with Plutus — the smart contract language of Cardano. Consequently, the new AGIX token is Cardano-compatible.
As AI and Big Data markets continue expanding, SingularityNet has created various solutions to cater to the needs of industries such as finance, healthcare manufacturing, and more — putting them in a good position to capture a share of the market.
The utility of the AGI token has evolved with the development of the SingularityNET ecosystem. In October 2020, SingularityNET launched its SingularityNET Enhancement Proposal (SNEP) feature, enabling AGI holders to vote on changes to the network’s operations. Whereas in March 2020, a staking feature was added, enabling users to stake their tokens
AGIX is now trading on Bitcoin.com Exchange with BTC pair.
Binance is one of the largest and most well-known cryptocurrency exchanges in the world. The benefits of purchasing SingularityNET (AGIX) here is that you benefit from the lower exchange fees than competing exchanges, and the increased liquidity enables you to buy and sell quickly to take advantage of market moving news.
KuCoin is a well-known name in the industry, and one of the most competitive in the sector when it comes to fees and trading costs. The exchange has grown exponentially from the early days of offering only crypto to crypto trading and they now offer a varied range of services including a P2P exchange capability, and purchasing with credit or debit cards.
They currently offer SingularityNET (AGIX) cryptocurrency trading as well as over 300 other popular tokens. They are often the first to offer buying opportunities for new tokens.
HitBTC is one of the oldest exchanges with high volume and a large number of altcoins including SingularityNET (AGIX). Unfortunately, there are reports of customer service complaints, and this is why we list this exchange last, and we highly recommend the above two exchanges instead. Nonetheless, due to the low number of exchanges that currently offer this cryptocurrency, they have made our list for these reasons.
It’s also available on two of the most popular DEXs — Uniswap and Balancer
AGIX is an ERC-20 token.
This means it’s backed by the Ethereum proof-of-work (PoW) consensus algorithm and battle-tested network of tens of thousands of nodes and miners. To date, the Ethereum network has never been successfully attacked and is considered one of the most secure networks currently operating.
This means it’s backed by the Ethereum proof-of-work (PoW) consensus algorithm and battle-tested network of tens of thousands of nodes and miners. To date, the Ethereum network has never been successfully attacked and is considered one of the most secure networks currently operating.
Ultimately, the goal is to lay the foundation for a “global brain. SingularityNet deploys a reputation system laying out the principles on how governance and economics work on its chain to keep all participants in check.
Agents are rated on a scale from 0–5, depending on their performance analyzed based on their consumer ratings, financial transaction trails, and escrow patterns. Every agent with more than 2 as a rating can participate in on-chain governance.
Source: singularitynet , singularitynet , cryptobuyingtips , securities , medium , singularitynet , coinmarketcap
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