Why AI is going to be huge in the Crypto industry ?
The world of cryptocurrency has been rapidly evolving in recent years, with new technologies and developments emerging on a regular basis. One area that has the potential to revolutionize the industry is artificial intelligence (AI).
The world of cryptocurrency has been rapidly evolving in recent years, with new technologies and developments emerging on a regular basis. One area that has the potential to revolutionize the industry is artificial intelligence (AI). In this article, we will explore how AI is being used in the cryptocurrency industry and what impact it may have in the future.
What is the importance of AI in crypto?
Currently crypto has a lot of problems. They are frauds and scams, risk management and security of blockchain. Let’s see how AI can help crypto 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 in their blockchain were not been able to detect by normal people. AI can help resolve this problem as it can find any bug into a blockchain in just a small time. This will make existing blockchains more secure and less prone to hacks.
TOP AI COINS
1.) SingularityNET (AGIX) - SingularityNET is a blockchainpowered 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 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, permission less, 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 permission less 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 solutions 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 – They are an AI layer 1 with high interoperability means other blockchains 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, as well as applying leverage to those trades automatically rebalance holdings and take positions based on market conditions not emotions so you don't have to.
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.
AI is still in its nascent phase but so far it has shown a lot of promising use cases in crypto which will help crypto to reach the masses. Also AI can help crypto to make it more secure and user friendly. It still has to go through a lot of developments but it can be the next biggest thing in crypto world.