With AI Sector Going Viral, Analyze the Prospects of Combining AI with Blockchain

[TL；DR]:

The recent rise in the AI sector’s token market has exceeded market expectations and has not repeated the routine of “prices falling every summit”.

With the continuous iteration and upgrading of artificial intelligence technology and the rapid expansion of application scenarios, many established projects attempting to integrate blockchain technology have ushered in spring.

The combination of the two will undoubtedly bring greater fun, credibility, and security, laying the foundation for welcoming the era of decentralized intelligence.

Introduction

After the first OpenAI artificial intelligence summit, AI sector tokens did not repeat the “drop every meeting” routine, but instead rose to new highs. This article will discuss whether the AI sector can create a new paradigm of combining artificial intelligence and blockchain, and whether the market still has continuity.

The General Rise of AI Sector Tokens Breaks the Rule of “Prices Falling Every Summit”

The recent rise in AI sector tokens has exceeded the market’s understanding. Many investors believe that many of the slogans of the blockchain world have not yet been implemented, and the business covered with artificial intelligence concepts is even more elusive. The rise of related tokens is more of narrative speculation speculation.

But with the first OpenAI artificial intelligence summit and the upgraded launch of ChatGPT-4, the AI sector’s token continued its general upward trend.

As of the writing date, according to the Gate.io market, AI track leader AGIX’s 24-hour increase exceeded 11%, FET’s increase was nearly 14%, and RNDR’s increase was also over 5%.

Source: Gate.io

In addition, OCEAN has consistently maintained market popularity, with the top performers being OCEAN, with a 24-hour increase of over 12%.

WLD, which has been the most popular recently, has surged and plummeted due to the resignation of OpenAI founder Sam Altman. When the author observed the coin, its 24-hour increase of over 20% ranked first in the sector, but it has now retreated to the starting point of its rise, with an increase of 0.1%.

Although veteran public chain L1 (such as SOL) and Bitcoin in_script_ions (such as ORDI, SATS) have been prominent tokens in recent gains, people often overlook an important fact that the stability of the recent gains in the top projects of the AI sector is much more long-lasting than many short-lived sectors.

Inventory the Top Projects in the AI Sector

With the continuous iteration and upgrading of artificial intelligence technology and the rapid expansion of application scenarios, many new and old projects attempting to integrate blockchain technology are ushering in spring. The following are some well-known projects on AI tracks.

AGIX
SingularityNET (AGIX) is a decentralized AI service trading market built on Ethereum and Cardano.

Simply put, it is a comprehensive application store that extends AI interoperability, allowing developers and users to engage in supply and demand transactions related to AI, while SingularityNET does not charge any transaction fees.

According to the development roadmap published on its website, SingularityNET’s plan for 2023 mainly involves two aspects: technology and ecosystem. Its planned activities include technology optimization, collaborating with Cardano to develop more service cases, and establishing partnerships with more artificial intelligence services. At present, it seems that these plans are also gradually being implemented.

FET
FetchAI (FET) is an artificial intelligence laboratory established in 2017, aimed at building an open, unauthorized, decentralized machine learning network with a crypto economy.

Fetch.ai has its own blockchain built on Cosmos, which can use the Inter Chain Communication Protocol (IBC). FET is a native token in the Fetch.ai ecosystem, mainly used as a trading medium. The services in Fetch.ai need to be purchased through FET, and FET can also trade on DESs such as Osmosis and obtain profits through staking.

RNDR
The Render Network is a distributed GPU rendering network built on the Ethereum blockchain, officially launched in April 2020. Currently, it has established partnerships with Apple, Google, Microsoft Azure, Unity, and others.

The business model of Render is similar to SingularityNET. The RNDR network mainly includes two roles: creator and node provider, connecting creators and studios that require GPU computing power with mining partners willing to rent out their GPU capabilities. The token RNDR serves as a payment token.

It should be added that the above three projects are widely regarded by the industry as the three giants in the AI sector.

OCEAN
Ocean Portocol was established in 2017 as a decentralized big data exchange protocol.

Ocean Portocol allows anyone to share data and profit from it, while providing control verifiability, transparency, and compliance for all relevant parties. To ensure the security of both parties involved in the transaction, the project implemented the integration of peer-to-peer protocols and cast the data as ERC-721 data NFT, with access permissions authorized through ERC-20 data tokens.

PHB
Phoenix is a Layer 1 and Layer 2 blockchain infrastructure consisting of enterprise first layer blockchains, artificial intelligence and privacy computing platforms (L2), and proprietary data oracle machines.

A significant development of this project is the development of the product AlphaNet based on deep learning AI signals and capturing targeted alpha strategies, which assists users in warning signals and actively operates.

The Future Development of AI+Blockchain

In fact, it is not difficult to find from the above that artificial intelligence naturally has practical significance in combining with blockchain technology.

Generally speaking, artificial intelligence utilizes computer models to learn big data operations by imitating the logical thinking of the human brain, enabling it to solve many problems in a short period of time. This clearly extracts the three main elements of artificial intelligence, namely data, algorithms, and computing power.

In the blockchain world, publicly transparent and tamper proof on chain data can provide AI with a continuous data foundation, while also being able to store metadata and algorithm models in distributed ledgers. Blockchain has an immutable feature that can help us access immutable records of the data and processes used by AI in its decision-making process.

In addition, many decentralized cloud trading and cloud computing (such as RNDR mentioned earlier) projects can provide low-cost and efficient computing support for artificial intelligence projects, and help to monetize projects in real time.

The combination of AI and blockchain promotes and achieves each other. Recently, Vance Spencer, co-founder of Framework Ventures, has made forward-looking predictions about the development direction of their integration. He believes that:

AI will achieve “autonomy” of DAO: AI is expected to truly achieve autonomy of DAO, eliminating the need for central authority intervention and making it more decentralized.

Tokenization of AI models: In the future, AI models will be tokenized and become valuable assets, which means that AI models can be traded and shared on the blockchain.

The combination of AI and gaming: AI may change the paradigm of the web3 gaming industry by combining on-chain ownership of AI models with gaming. In AI Arena, a native decentralized application and game of Ethereum, players can train AI models to represent them in the game.

The growth of decentralized computing market: Decentralized computing markets such as Akash Network (AKT) and Render Network (RNDR) promote the sharing and trading of computing resources through blockchain technology, which helps unleash the commercial and economic potential of AI.

Source: @ aiarena_

Overall, the integration of blockchain technology and artificial intelligence in the industry provides potential optimization solutions for addressing data privacy and credibility, knowledge resource sharing, social collaboration and organizational change, and Web3 industry innovation. This diverse combination will undoubtedly bring greater interest, credibility, and security.

Of course, on the other hand, it cannot be ignored that the application of the combination of the two projects also faces challenges in terms of technological maturity, performance expansion, and ethical regulations. In addition, many projects have a strong short-term hype atmosphere and high value.

As a leading innovative trading service platform in the crypto industry, Gate.io has always adhered to exploring cutting-edge technologies and application scenarios that integrate blockchain and artificial intelligence, and has supported the launch of a series of AI project tokens as mentioned above.

We believe that with the deep participation of more developers and users, as well as policy support, the integration and convergence of these two fields will help lay the foundation for the era of decentralized intelligence, bringing more development opportunities and value returns to everyone.