How AI x Blockchain Projects work
After the phenomenal success of ChatGPT, Artificial Intelligence (AI) once again became a major hot trend among technology lovers. Consequently, AI-related projects in the blockchain space experienced a sharp rise in prices and trading volume. Moreover, many AI-related blockchain projects, such as CryptoGPT, have started to launch their platforms quickly to ride the AI wave. In the following, we will review AI usability in blockchain and the trending projects in this field.
AI x Blockchain
AI
Artificial intelligence aims to improve the functionality of computer processes and data classification by mimicking the rational abilities of human brains. Machine learning and deep learning are two well known sub-fields of AI that make predictions or classifications in a smart way by being trained over time.
AI and Blockchain Combination
The mixture of two remarkable technologies of Blockchain and AI can lead to building databases with many privileges compared to previous databases. The results of this combination appear in many sectors, such as healthcare recommendations, the transparent supply chain of foods, etc.
AI Projects With Crypto Tokens
CryptoGPT
CryptoGPT ($GPT) claims to provide a ZK Layer-2 blockchain where users can monetize their AI data. CryptoGPT attempts to merge blockchain and AI to build up a decentralized AI data market.
Their team has already launched many applications in some areas, such as gaming, fitness, and education. CryptoGPT is also projected to be a “to earn” ecosystem that pays data contributor users in the global data marketplace.
CryptoGPT is a layer two network that uses Zk rollups. In this project, “Proof of Activity” ensures the network’s security. It provides ultra-low-cost transactions in addition to the data capsules, AI tooling, and a pluggable earn launcher.
Fetch.ai
Fetch.ai ($FET) is a well-known AI blockchain platform that creates infrastructure for autonomous economic agents to collaborate. It brings a virtual shared economy powered by AI and deep learning, where these entities can interact in a secure environment.
By taking novel techniques into account, like multi-agent systems and swarm intelligence finance, Fetch provides multiple services, such as data sharing, resource allocation, and prediction markets.
Fetch aims to provide permissionless accessibility to secure datasets by using autonomous AI and Inter-Blockchain Communication (IBC), to optimize DeFi trading services, transportation networks, energy grids, or in other words, systems that rely on large-scale datasets.
SingularityNET
SingularityNET aims to create a decentralized AI marketplace that facilitates the creation and financing of AI projects as a global network for AI algorithms. The developers of this project are famous for developing Sophia, the first humanoid robot that received a passport back in.
The marketplace provides sell tools, data, services, and algorithms. Using SingularityNET projects which require larger datasets can reach powerful AI solutions. In this platform, developers can easily sell their AI tools and libraries, and the buyers have been enabled to test any AI service provided on the marketplace.
Wrap-up
Although the integration of AI with Blockchain has not been as popular and practical as IoT and E-commerce, there are determined development teams who aim to observe and implement AI use cases in the blockchain space. Some of these projects, like Fetch.ai reached a considerable portion of the crypto market, and some platforms, like Crypto GPT attracted the attention of web3 communities. Due to the popularity of platforms with AI tags these days, we will presumably confront more AI x Blockchain projects soon.
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Resources
https://singularitynet.io/ https://coinmarketcap.com/currencies/fetch/ https://fetch.ai/
