Top 5 AI Coins That You Should Know About
What is the Importance of AI in Crypto?
Currently crypto has a lot of problems. They are frauds and scams and issues related to risk management and the security of blockchain. Let’s see how AI can help in solving these issues.
1)Frauds and Scams: Last year was devastating for crypto as we saw more than $3 billion in hacks and crypto stolen. AI can solve this problem by detecting any anomalies in transactions as it will be programmed in that way.
2)Risk Management: A lot of people lost huge amounts of money in crypto primarily due to poor risk management. AI can help people make better investment decisions as it works on facts and data, not on emotions.
3)Security: A lot of blockchains got hacked last year because of poor security. A lot of bugs went undetected by normal people. AI can help resolve this problem as it can find any bug in a blockchain in just a small time. This will make existing blockchains more secure and less prone to hacks.
Top 5 AI Ccoins
1) SingularityNET (AGIX): SingularityNET is a blockchain-powered platform that allows anybody to easily create, share, and monetize AI services, thanks to its globally-accessible AI marketplace. Through the SingularityNET marketplace, users can browse, test, and purchase a huge variety of AI services using the platform’s native utility token — AGIX.
Currently, AGIX is trading at $0.1747 with a market cap of $205 million and a circulating supply of 1.17 billion as of 16th Jan 2023.
Unique Value Proposition: It is the first platform that makes it easy for developers to sell their AI tools and libraries and enables buyers to test any AI service provided on the marketplace to see if it meets their needs before making payment.
2) FETCH.AI (FET): Fetch.AI is an artificial intelligence (AI) lab building an open, permissionless, and decentralized machine learning network with a crypto economy.
Currently, FET is trading at $0.2347 with a market cap of $192 million and a circulating supply of 818 million as of 16th Jan 2023.
Unique Value Proposition: Fetch.ai’s utility token FET was designed to find, create, deploy and train digital twins and is an essential part of smart contracts and oracles on the platform. It democratizes access to AI technology with a permissionless network upon which anyone can connect and access secure datasets by using autonomous AI to execute tasks that leverage its global network of data.
3) OraiChain (ORAI): It is the world's first intelligent and secure solution for emerging Web3, scalable Dapps, and decentralized AI.
Currently, ORAI is trading at $4.14 with a market cap of $8.4 million and a circulating supply of 2 million as of 16th Jan 2023.
Unique Value Proposition: It operates on an AI layer 1 protocol with high interoperability, which means other blockchain tokens can easily connect with OraiChain. It is focused to design and implement “proof of correctness” and “proof of execution” for any AI computation. This plays a fundamental role in developing AI Oracles for many smart contracts.
4) SingularityDAO (SDAO): It is the first decentralized, non-custodial, dynamically adjusted baskets of tokens (DynaSets) controlled by a team of traders aided by and eventually handing over majority control to highly advanced Artificial Intelligence.
Currently, SDAO is trading at $0.3234 with a market cap of $18.4 million and a circulating supply of 56.7 million as of 16th Jan 2023.
Unique Value Proposition: It is capable of using both long and short trading strategies. Also, applying leverage to those trades automatically rebalance holdings and take positions based on market conditions.
5) PlatON (LAT): It is a next-generation Internet infrastructure protocol based on the fundamental properties of blockchain and supported by the privacy-preserving computation network.
Currently, LAT is trading at $0.011 with a market cap of $36.7 million and a circulating supply of 3.28 billion as of 16th Jan 2023
Unique Value Proposition: “Computing interoperability” is its core feature. PlatON provides a public infrastructure in open-source architecture for global artificial intelligence, distributed application developers, data providers, and various organizations, communities, and individuals with computing needs.
Conclusion
So, these were the top 5 AI coins. AI is still in its nascent phase but so far it has shown many promising use cases in crypto which will help crypto to reach the masses. Also, AI can play a big role in making crypto more secure and user-friendly. It still has to go through a lot of developments but it can be the next biggest thing in the crypto world.