Digital Currencies In The Field Of Artificial Intelligence; Get To Know The Most Popular AI Coins
One Of The Most Attractive Features Of The Age We Live In Is The Simultaneous Occurrence Of Two Great Revolutionary Technologies, One Artificial Intelligence And The Other Digital Currencies.
These two technologies are changing many aspects of our lives, and we must keep up with them sooner or later.
The story becomes more interesting when artificial intelligence and digital currencies merge and can benefit from the features of both of them together.
Currently, several projects work both in the field of artificial intelligence and deal with digital currencies and soon we will see an increase in their number.
Some other AI coins do not directly deal with artificial intelligence but operate in the same field.
In this article, we will first introduce some artificial intelligence digital currencies that are higher than their counterparts in terms of market value. Then we will examine some of the most prominent AI digital currencies indirectly related to artificial intelligence.
What do we know about artificial intelligence digital currencies?
Artificial intelligence (AI) is a branch of computer science that allows machines to make data-based decisions and mimic human intelligence. For example,chatgpt(ChatGPT) is a chatbot that can talk to a human user, answer his questions, receive a text from him and write a summary, and this is just a part of its countless capabilities.
Another example is artworks produced with artificial intelligence, in which a program receives and interprets information from the user-written in natural language and creates digital paintings based on that. The uses of artificial intelligence are endless, so this technology has also made its way into the digital currency space.
On the other hand, digital currencies have features such as being decentralized, not being stored in traditional financial institutions, and not requiring intermediaries such as banks and third-party payment service providers, which can help in the field of artificial intelligence so that a few and powerful do not monopolize this field.
Therefore, digital currencies in the field of AI are coins or tokens that blockchain platforms in the area of artificial intelligence use to perform various activities. Users can pay their native ticket to use the features and benefits of artificial intelligence platforms and projects.
The most valuable digital currencies in the field of artificial intelligence
Now that we are familiar with artificial intelligence digital currencies let’s examine some of the most valuable AI digital currencies in terms of their market cap.
1. The Graph
- Market cap: $1.02 billion
- Coin rank in Coin Market Cap: 42
- Current price: $0.117
Graph It is an open-source protocol based on distributed ledger technology that enables the collection of blockchain data decentralized without the need for a third party.
This protocol provides a universal API for indexing, organizing, and querying data that anyone can easily access. The Graph does the same thing for Web 3.0. It does what Google does for Web 2.0.
The Graph uses the GraphQL programming language. The leading graph network currently hosts hundredsDecentralized applications (dApp), which can be challenging.
The Graph has solved this problem by providing open and public APIs called subgraphs so that thousands of decentralized applications can run on the network.
Developers and participants can use subgraphs by building them for various decentralized applications and searching indexing, and data collection. In April 2021 alone, the Graph hosting service processed 20 billion searches.
Who is Team Graff?
The founders of Graff are Yanif Tal, Brandon Ramirez, and Janice Palman, and they launched this project in 2018. Tal knew that creating new decentralized applications would be difficultEthereumHow tricky, it? In this way, with the help of his team, he made Graph with the idea of designing and launching the first indexing and querying program in a decentralized manner because, at that time, there was nothing similar in the market. The leading graph network was established in 2020.
Graph native token
The native graph token is called GRT. The project raised $12 million from its public token sale and another million dollars from a private sale to Coinbase Ventures, Digital Currency Group, and Framework Ventures. Apart from these, Multicoin Capital has also invested 2.5 million dollars in this digital currency. The native money of this network is used to allocate various resources used in the graph ecosystem. Users can pay for using network services with graph tokens.
The initial supply of Graph tokens was 10 billion units, and new permits were created as a reward for index makers. Graph Token distribution is as follows: 16.5% to initial network backers, 23.2% to team and advisors, 20% to Graph Foundation, 6.1% to sell GRT, 3% to reward net test indexers, 2.99% to help Finances have been allocated to curators and the rest to other departments.
The Graph uses a token withdrawal tax that Graph collects from its operators and burns the 1% fee it receives from queries into the protocol. Of course, Tokonomic Graph is subject to its technical governance in the future, and therefore these percentages may change. This means that whether or not the Graph is bloated in the future will depend on the number of requests it processes.
Why is the Graph unique?
The Graph is the first of its kind and thus enjoys a first-mover advantage, which will significantly impact its price. The ultimate goal of this project is to make Web 3.0 accessible to everyone and enable the creation of decentralized applications without the need for a centralized server or reference.
- Market cap: $299 million
- Coin rank in Coin Market Cap: 108
- Current price: $0.247
SingularityNetis a decentralized artificial intelligence marketplace that uses the power of blockchain technology to provide unlimited access to algorithms and programs. This project was among the first to integrate artificial intelligence and digital currency. Using the power of blockchain, the SingularityNet platform seeks to democratize artificial intelligence and provide a collaborative environment where developers can learn from each other and build better systems. This platform is hosted on Ethereum and Cardano blockchains.
More than 70 valuable AI services are available on the SingularityNet Marketplace, created by developers worldwide. These services include multilingual speech translators, instant voice simulators, speech command recognition, neural image generation, etc.
Singularity Net’s user-friendly interface makes these services accessible to everyone, regardless of their knowledge of the space. Most services have a demo feature, meaning users can test the components before purchasing them.
Who are the SingularityNet team?
Dr. Ben Goertzel, founder of Singularity Net
The SingularityNet platform was launched by Dr. Ben Goertzel and Dr. David Hansen in 2017. Hanson is also the founder and CEO of Hanson Robotics, which created the humanoid robot, Sophia. This famous robot introduced the world to the power of artificial intelligence for the first time.
SingularityNet’s native token
The native token of the SingularityNet network is called AGIX. This token is used to pay for the benefit of artificial intelligence services and products in its market, conduct intra-platform transactions, vote on proposed governance plans, and shareholding to increase liquidity. This token is of the typeERC-20and developers can use their funds in other Ethereum-based decentralized applications or convert it to real-world fiat currency.
The AGIX token was initially reserved only for the Ethereum blockchain, But now it can be used for more than a few blockchains. This token can be used for transactions on blockchainsPolygan, Cardano, and Binance Smart China.
The distribution of SingularityNet tokens is as follows: 50% for sales, 20% for early adopter rewards, developers, and contributors, 18% for the core team, 8% for SingularityNet Foundation, and 4% for charitable programs.
Initially, the token of this project was called AGI, and its maximum supply was 1 billion units. In 2021, they changed the ‘s name ticket to AGIX to be compatible with the Cardano network. Therefore, they created an additional billion units for the Cardano blockchain. As a result, the AGIX token supply cap is currently 2 billion units.
Why is SingularityNet unique?
The main goal of this project is to create artificial general intelligence (AGI) with extensive capabilities, and it was one of the first projects to integrate artificial intelligence with digital currencies. AGI systems act like humans; they can perform various tasks and adapt to new jobs. They have innate learning capabilities, meaning they can improve their abilities without human help. The project wants to create a platform for users and developers and create a mutually beneficial environment that accelerates the growth of artificial intelligence.
Another feature of this project is its expert team in artificial intelligence.
- Market cap: $252 million
- Coin rank in Coin Market Cap: 137
- Current price: $0.242
FetchIt is an open-access blockchain-based artificial intelligence and machine learning decentralized network created to provide a platform for the growth and development of the digital economy without human intervention. This network provides devices and services to the Internet, connects things, and facilitates the participation of other agents, such as humans.
Fetch has the right tools and infrastructure to support the development of a decentralized digital economy based on artificial intelligence. The Fetch economy combines suppliers and consumers and revolves around different agents and ecosystems with other purposes and use cases. By connecting people, devices, and services, this network enables data sharing and collaboration between them.
Who is Team Fetch?
Humayun Sheikh, Co-founder of Fetch
The founders of Fetch are Toby Simpson, Homayun Sheikh, and Thomas Hein. Sheikh is the managing director, Simpson is the executive director, and Hein is the chief scientific officer. This team from the University of Cambridge, England, started working together, and in 2017, they laid the foundations of Fetch.
Fetch native token
Fetch’s native token is FET, which is used for voting, activating nodes, staking, rewarding them, and unlocking all operations on the network. It also serves as the primary payment method on the web. The value of the Fech native token will be determined by the number of its uses in the future.
The number of Fetch tokens in circulation is more than 1 billion units. The supply of Fetch is limited, and this helps to make it scarce and thus prevent the tickets from devaluing due to inflation.
Fetch tokens will be distributed as follows: 20% to the company, 20% to the founders, 17.6% to sales, and the rest to plans, consultants, and the like.
Why is Fetch unique?
Fetch is a rare blockchain-based project that uses artificial intelligence to improve networked digital economy solutions. This project is unique thanks to the innovative combination of different technologies and the multiple use cases with artificial intelligence capabilities. The ultimate goal of this project is to help optimize intelligent cities, supply chains, transportation, smart parking, energy, smart homes, and cumulative learning.
4. Ocean Protocol
- Market cap: $202 million
- Coin rank in Coin Market Cap: 141
- Current price: $0.329
Ocean ProtocolIt uses blockchain technology to monetize data services. This protocol connects data providers and data consumers in a blockchain-based marketplace. Its innovative model relies on tokenizing data sets and data services so that people who operate in this field can easily earn money from their data, and consumers can conveniently access an ecosystem of valuable data.
Who is Team Ocean?
Bruce Poon, Co-founder of Ocean Protocol
Ocean Protocol was launched by Trent McConaughey and Bruce Poon in 2017. McConaughey is an artificial intelligence researcher, and Bruce Poon previously worked at a software company working on blockchain databases.
The native token of Ocean Protocol
The native token of Ocean is the OCEAN protocol, a type of ERC-20 token. This token also provides platform exchanges, Ocean community governance, and staking rewards to network participants.
Tokonomic Ocean Protocol
The ceiling of the Ocean Protocol token supply is 1.41 billion units. Its distribution is 20% founders, 15% buyers, 5% Ocean Foundation and 60% network maintenance operators.
Why is Ocean Protocol unique?
Ocean Protocol is a platform that takes a unique approach to data, allowing individuals and businesses to monetize their data securely and efficiently. Ocean Protocol aims to enable data analysts, researchers, scientists, and other consumers to benefit from data that is difficult or expensive to access. So far, no project has been created that considers data as a financial asset and helps to monetize it. The project offers specific benefits for data-driven industries, including artificial intelligence. Another positive point of Ocean Protocol is its team, which has a lot of experience in big data and artificial intelligence.
5. iExec project
- Market cap: $122 million
- Coin rank in Coin Market Cap: 180
- Current price: $1.51
iExecis a blockchain project that offers a wide range of cloud computing services similar to Amazon Web Services and Microsoft Azure, except that it is more decentralized. iExec’s growing ecosystem supports artificial intelligence, decentralized finance (DeFi), and healthcare applications. The project continuously develops new protocols to simplify access to the decentralized computing economy.
Who is the iExec team?
Gilles Fedak, Co-founder of iExec
Gilles Fedak and Haiwu He are the founders of the iExec project. Besides these two people, many blockchain engineers and Java developers work in this team.
Native iExec token
This project’s token is RLC, a type of ERC-20 token. All transactions of the platform’s decentralized cloud markets are settled with its native token, and participants must stake this token to be eligible to perform computational tasks.
The total token supply is 87 million units, and 69% of these tokens were sold as part of the initial coin offering in a public sale. The remaining tickets are distributed as follows: 17.2% will be for the iExec team and advisors, 6.9% for the emergency fund for iExec, and 6.9% for the continued development of iExec. All tokens have already been distributed during this distribution mechanism, and no new tickets will be minted or issued. The only way to obtain its native permit is to buy it on the open market, earn rewards on iExec markets, or offer liquidity for the ticket on a decentralized exchange that supports the token’s currency pairs.
Why is iExec unique?
The ultimate goal of this project is to transform legacy Web 2-based systems into a one-stop source for blockchain-based cloud computing. iExec runs on the Ethereum network. While many decentralized applications and smart contracts supported by iExec are resource-intensive, this protocol performs processing-intensive computations off-chain to keep its operations as simple as possible.
- Market cap: 84 million dollars
- Coin rank in Coin Market Cap: 276
- Current price: $13.50
ProjectNumrayerIt is a blockchain-based software that acts as a hedge fund and, by combining the incentive system and artificial intelligence, machine learning, cryptography, and data science, it allows users to predict the stock price and trade it on the Ethereum blockchain. The project holds weekly tournaments where participants make their predictions of the cost and stake in it.
Who are the Numerer team?
Richard Cribb, The founder of Numrayr
The founder of this project is Richard Cribb. He founded this project in 2015. From 2016 to 2020, the project held four separate funding rounds and raised more than $21 million.
Numeraire native token
The native token of the Nomirer platform is NMR and is an ERC-20 token. This token is used to pay and share results based on market predictions. The reward of the winning participants of the weekly tournaments is also delivered with this token.
Numrayer uses the Erasure protocol to incentivize users to stake their native tokens. This protocol rewards the user if he stakes his tokens on the correct outcome based on the chosen prediction model. Otherwise, the protocol destroys his staked tokens.
Numray has a supply cap of 11 million units, and since its supply is limited, like Bitcoin, it will be anti-inflationary. Currently, more than 6 million tokens are in circulation out of a total of 11 million tickets.
In 2017, the company issued and distributed 1 million native tokens to data scientists who had already participated in the tournament.
Why is Numrayer unique?
The idea behind Nomirer is unique and is the first digital currency created and issued by a hedge fund. One of the main benefits of the platform’s native token is that it pays data scientists who present high-performance models in the tournament. Therefore, the ticket becomes more valuable as more people enter the game.
The main goal of this project is to enable users to trade stocks through an automated model based on artificial intelligence, machine learning, data science, and cryptography. The project’s innovative approach to equity trading makes Nomrayer one of the few hedge funds that rely significantly on predictive data generated by artificial intelligence.
Digital currencies related to artificial intelligence
A series of other digital currencies cannot be considered AI coins directly, But their activity is somehow related to artificial intelligence. These projects can be successful in terms of their market value and future, so we intend to introduce them in this section.
1. Radar Token
- Market cap: about 4 million dollars
- Coin rank in Coin Market Cap: 3300
- Current price: $0.0070
DeepRadar is a platform for searching decentralized applications. The project aims to cover more programs, be faster in listing emerging projects, and provide more timely and accurate listings.
The native token of this project is called RADAR, and holders of this token can participate in list management, voting, suggestions, and product decisions.
Distribute thistokenIt is as follows:
40% of the community, 25.2% of the team and shareholders, 24.7% of the treasury, and 10% of the airdrop.
Radar currently supports over 9,000 decentralized applications, more than 30 protocols, and more than one million monthly users worldwide.
- Market cap: 483 million dollars
- Coin rank in Coin Market Cap: 80
- Current price: $6.03
Injective is a blockchain for finance. This blockchain is open and interoperable and aims to power the next generation of DeFi applications, including decentralized instant and derivative transactions, prediction markets, lending protocols, etc.
Injective provide a compelling financial infrastructure that applications can use. All types of financial markets, including spots, futures, and options, are entirely on-chain. These infrastructures bridge decentralized chains and are compatible with Ethereum, IBC blockchains, and even chains like Solana that don’t use the Ethereum virtual machine.
The Injective ecosystem has over 100 projects and over 150,000 community members worldwide. A group of prominent investors, including Binance, Pantera Capital, Jump Crypto, and Mark Cuban, backs the project.
The founder of this project is Eric Chen, a researcher, and trader of digital currencies. Albert Chon is the chief technology manager of Injective Labs. He graduated in computer science from Stanford University and was a software development engineer at Amazon.
The native injective token is called INJ. Its maximum supply is 100 million units, and its current circulating supply is around 80 million.
The INJ token is used for fees, ecosystem enhancement, protocol governance, and staking incentives. This token has an entirely diminishing supply, as 60% of all decentralized application fees built on Inject are auctioned every week, thus reducing the supply of INJ over time.
3. Oasis Network
- Market cap: 300 million dollars
- Coin rank in Coin Market Cap: 105
- Current price: $0.052
Oasis is the leading layer one blockchain network with maintainabilityPrivacyAnd it is considered scalable. This system combines high throughput and low gas costs with a secure architecture to develop the next-generation Web 3.0 foundation and strengthenDefay, gamify, Non-Synonymous Tokens(NFT), Metaverse, data tokenization, and help.
Oasis Network’s native token is ROSE. This token is used for transaction fees, staking, and representation in the consensus layer. Its supply is 1.5 billion units, and its total will be 10 billion. Token distribution is done as follows: 23.5% for stake rewards, 23% for supporters, 5% for strategic partners, 18.5% for community and ecosystem, 10% for Oasis Foundation, and 20% for core network contributors. Shareholders and agents will be rewarded for securing the network automatically within ten years. By staking this token, users can contribute to the security of its blockchain network and receive up to 20% reward.
Dawn Song founded Oasis Network, which launched this project in 2018. The development team of this project has all graduated from prestigious universities around the world or has worked in large institutions and organizations such as Amazon.
- Market cap: $115 million
- Coin rank in Coin Market Cap: 242
- Current price: $0.29
Origin TrailAn infrastructure projectWeb 3.0It combines knowledge graph and blockchain technologies to create a neutral and inclusive ecosystem. Origin Trail’s decentralized knowledge graph runs on three blockchains: Ethereum, Polygon, and Gnosis. This network is open source and does not require permission, which increases its transparency and security.
The founders of Origin Trail are Tomaž Levak, Žiga Drev, and Branimir Rakić. They started this project in 2011, and in 2013, they founded Trace Labs. Origin Trail was officially launched in 2018.
The Origin Trail network has two tokens, TRAC and OTP. The TRAC token is functional and designed based on the ERC-20 standard. Its total supply is 500 million units, which is considered anti-inflationary. The value of this token will depend on its use and market acceptance. In-network fees are paid with this token. Allocation of this token is done as follows: 35% to the token sale, 20% to the founders and team, 10% to the advisors and early supporters, 15% to the future development fund, 10% to the ecosystem, and 10% to the reserve for legal entities that are locked until January 2025.
The OTP token is designed to support the Origin Trail ecosystem, and its total supply is 1 billion units. From the current 500 million distributed units, 20% is allocated to the ecosystem development fund, 15% to the team and participants, 10% to TRAC investors as an airdrop, and 5% to the knowledge graph nodes.
Origin Trail’s primary goal is to create interoperability, interoperability, integration, and motivation for contributors to use this project in industries such as DeFi, real-world asset collateral, metaverse, Internet of Things, etc.
Digital currencies in AI combine the two transformative technologies of artificial intelligence and digital currencies. The most important goal of digital currencies of artificial intelligence is to introduce the decentralization feature without the need for intermediaries of digital currencies and blockchain into the field of artificial intelligence. On the other hand, to benefit from the benefits of artificial intelligence in the blockchain industry. In this article, we reviewed some of the most prominent AI coins and introduced several others that work indirectly in artificial intelligence.
Introducing the projects mentioned in this article is not an investment recommendation. When investing in any cryptocurrency or project, do your thorough research and only invest an amount you won’t be in trouble if you lose it.