Top Ten AI Currencies
Two technologies are one of the fastest-growing industries in the world. It is hard to imagine a world where two of the most anticipated technologies combine and collaborate. But it isn’t hypothetical, it’s a reality in the form of AI currencies.
What Is AI?
Artificial intelligence (AI) is a field of computer science enabling machines to make decisions based on data, increasingly mimicking human intelligence.Artificial intelligence can also be categorized into different types including machine learning, neural networks, and more each with unique applications. Another example of AI includes generated artwork, where a program interprets user prompts, written in natural language to create pieces of digital art, like ChatGPT, an application that can write according to a brief submitted by the user.
What Are AI currencies?
AI currencies refer to digital and virtual currencies that leverage artificial intelligence (AI) technologies to enhance various aspects of their functionality. Furthermore, these AI currencies also incorporate advanced algorithms, machine learning, and predictive analytics to optimize processes such as transaction verification, fraud detection, and smart contract execution. Another thing that must be noted is that, unlike traditional currencies, AI currencies may dynamically adapt to changing market conditions and trends, making them more resilient and efficient.
We’ve looked at the top ten AI currencies and here is what the list looks like;
Fetch.AI
Fetch.AI is an AI and machine learning platform based on the blockchain. Moreover, it is all about automating business tasks such as data processing and trading. Its native cryptocurrency, FET, is used to pay for transactions on the network. Its market cap is $598.
Ocean Protocol (Ocean)
Ocean Protocol is an Etheruem-based platform that allows businesses and users to exchange and monetize data and data-based services. This might involve data available to researchers and startups without the data being relinquished by the data holders.
Furthermore, it is trading at $0.52 as of January 2024 down from its April 2021 peak of $1.94 and its market cap is $300 million.
Injective (INJ)
Injective (INJ) is a finance-focused AI currencies project, specifically designed to provide tools for building decentralized finance (Defi) applications. Furthermore, its current price is $33 and its market cap is around $3,293,355.
Phoenix Global (PHB)
PHB, Phoenix Global AI currencies, executes transactions on the blockchain. Its current price is $0.933. It is also another AI coin and its market cap is $42,516,189.
Singularity NET
Singularity NET is a decentralized AI currencies marketplace where users can create, share and monetize AI services. The ecosystem focuses on the development of Artificial general intelligence (AGI) and the creation of a human level of intelligence. Furthermore, its current price is $0.9033. Its market cap is around $323.36M.
NMR Coin
NMR coin is the digital asset token used to pay for services on the Numeraire network. NMR is the token of the Erasure protocol, in which apps such as Numerair’s classic tournament and numeral signals are built. Also, its current price is around $20.67 and its market cap is around $125.99 M.
Internet Computer (ICP )
Internet computer is the world’s first blockchain that is capable of running at web speed at unrestrictive capacities. Built by the DEFINITY foundation, IC aims to recreate the web supporting smart contract development at scale and changing the way people can interact using web services.
ICJ currently trades at $12.67 and its market cap is 6,209,353.50.
Oasis Network (Rose)
Oasis Network describes itself as the first privacy-enabled blockchain platform for open finance and a responsible data economy.
In practice, the project is a proof of the stake blockchain network designed to enable privacy-preserving open finance in contrast to other blockchains that offer a relative lack of privacy. Rose the native currency trades at $0.11 and its market cap is 886,726.
The Graph (GRT)
The graph is a protocol for indexing and querying data from blockchain in a similar way that Google indexes and queries data from websites. Indexing blockchain data can be challenging, but the graph can change that by organizing data into smaller subgraphs.
Its current price is around $0.0154 moreover its market cap is around $1,900,252.
Theta Network (THETA)
Theta Network is a blockchain that is purpose-built for video streaming. It aims to decentralize video streaming, operating a peer-to-peer video delivery network. The company’s promises are like many metaverse business plans: reduce costs, transfer power from companies to the masses, and eliminate intermediaries. Its current price is $1.28 and its furthermore its market cap is around $1,393, 683,500.
Conclusion
In conclusion, delving into the realm of AI cryptocurrencies reveals a dynamic landscape where innovation meets financial evolution. The top 10 highlighted in this blog represent the forefront of this transformative intersection. As artificial intelligence continues to redefine our digital landscape, these cryptocurrencies stand as a testament to the ongoing fusion of technology and finance, shaping a future where intelligence drives not only innovation but also the very fabric of our monetary systems. Stay tuned as we witness the unfolding chapters of this groundbreaking narrative.
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