Simply said, an AI cryptocurrency is a digital token that fuels blockchain-based projects based on artificial intelligence. AI crypto projects exist in a variety of forms and sizes due to the versatility of AI. Gaming, Web3, decentralized marketplaces, tracking, and other topics are included.
What Are the 6 Best AI Crypto Projects?
The tokens that drive AI blockchain platforms like The Graph and SingularityNET are known as AI cryptocurrencies. To access the platforms and the advantages of their built-in artificial intelligence, users must pay tokens. We examined the top 6 best AI crypto projects to see how the technology is being applied in the industry.
Fetch.ai is at the top of our list of AI crypto projects. In order to establish a decentralized economy, the blockchain and artificial intelligence industries are combined in the cryptocurrency project Fetch.ai. To put it another way, Fetch.ai is creating a decentralized network made up of many autonomous agents. These agents serve as both their own representatives and those of other people, things, and services.
On the other hand, Fetch.ai’s goal is to develop a permissionless system in which autonomous agents will use AI to learn and adapt. The project uses its native digital token, FET, to reward agents for fulfilling tasks and to enable autonomous economic activity. Fetch.ai is a project with lofty aims in terms of both technology and objectives. It incorporates several technologies, including AI, machine learning, smart contracts, DAG, DLT, and blockchain.
When it comes to AI crypto projects, SingularityNET is arguably one of the most versatile. The goal of this project is to create a marketplace where anybody may create, distribute, and make money from AI services, as opposed to concentrating on a particular AI-related application.
This marketplace uses AGIX, the platform’s native cryptocurrency, to make transactions. Without needing to design a complete front-end product, the platform enables developers to monetize the AI solutions they generate.
Ocean Protocol (Ocean)
The Ethereum-based platform Ocean Protocol enables the exchange and monetization of data and data-based services between companies and people. Ocean Protocol is a data-sharing effort that is largely for AI endeavors, to put it simply. Even while Big Data powers the majority of current AI initiatives, it continues to have privacy and security problems. By the use of decentralization, Ocean Protocol seeks to change this.
The Graph wants to build a layer for data indexing so that smart contracts can be developed. It compiles information from many blockchains so that developers may simply obtain the essential data to create their applications. The Graph is made to not only provide information but also to enable querying on the Ethereum network.
As a result, developers can write APIs that compile particular data and produce unique sub-graphs. The typical investor could find this idea challenging. But, the most significant finding is that The Graph has the potential to develop into a strong infrastructure platform for the cryptocurrency sector.
Developers can gather information and create new blockchain-based goods more quickly and easily thanks to this AI crypto project. With this use case, The Graph has established itself as one of the top long-term cryptocurrencies for investors to take into consideration at this time.
DeepBrain Chain (DBC)
One of the most influential, direct AI crypto projects is DeepBrain Chain. A blockchain-specific ecosystem for training, creating, and deploying AI models for a variety of services and products is DeepBrain Chain.
What sets DeepBrain Chain apart is the accessibility of a decentralized ecosystem for the creation of AI models. AI developers frequently become lost in oblivion in centralized development, which isn’t very friendly to them. DeepBrain Chain intends to change that by enabling access to AI power for businesses and individuals while maintaining the providers’ leadership.
VeChain was one of the top cryptocurrency ICOs of the year in 2017, raising more than $20 million. The initiative has its own blockchain, which is a fork of Ethereum customized for supply chain optimization. VeChain, however, does not employ either a proof-of-work or proof-of-stake consensus.
Instead, VeChain makes use of a proof-of-authority system that selects a participant based on their reputation when deciding who should build a block. VeChain employs AI to enable tracking and verification of various products as they are carried from the manufacturer to the consumer, which is a useful feature.
In this approach, VeChain offers a range of solutions, including asset tracking, data storage, and more. VET, the VeChain network’s native cryptocurrency, is what drives all of the network’s transactions. During the first two weeks of 2023, this AI crypto project experienced a noteworthy 25% rise.