Artificial Intelligence is considered as the future of the world. Innovations like self-driving cars, augmented reality, neural computer chips for the brain etc. may one day become a norm. The futuristic world that we can envision right now is powered by artificial intelligence. Although there may be hiccups on the road towards mastering AI, the blockchain technology has been utilized by many projects to make the journey as smooth as possible. SingularityNET is one of the projects that aims to unlock the full potential of artificial intelligence by harnessing the power of decentralization that the blockchain technology has to offer. Let’s delve more into what SingularityNET is and how it can facilitate the AI revolution!
Wat is SingularityNET?
SingularityNET’s foundations lie in the futuristic book, Our Final Invention, by James Barrat who describes Singularity as the moment when AI becomes super intelligent. Hence, SingularityNET is designed to facilitate the journey of artificial intelligence towards Singularity. The platform utilizes the blockchain technology to enable the transformation that AI has the potential to bring to our world.
SingularityNET is a decentralized marketplace for AI algorithms. Apart from being a launchpad for AI developers to launch their AI-focused products, it also aims to create a synergetic ecosystem build by AI. It is the only platform that allows the coordination and cooperation of AI in order to create an artificial cognitive organism.
SingularityNET, through its decentralization, reduces the barriers to the AI market as it allows anyone to launch their AI node. This breaks the dominance of big tech companies in the market and encourages a more cooperative and synergetic environment. The AI nodes can interact and communicate with each other for their mutual benefits. It also allows end-users to contract AI developers at a fraction of the cost of centralized firms.
What is the future of AGIX?
The native token of SingularityNET, AGIX, had not been able to benefit from the bull run of 2021 as it could not break the ATH established in 2018. It was able to establish a 52-week high at $0.65 during September, after which the cryptocurrency began a gradual decline. At the time of writing, AGIX stands at a price level of $0.32. The price had increased by 15% during the past week while a decline of 4% has been observed in the daily timeframe.
Despite the subpar performance, the future outlook of the cryptocurrency is bullish. According to the estimates of Wallet Investor, the cryptocurrency s expected to be operating at a price level of $1.54 in a year’s time while the five-year prediction places the coin at $6.48. Digital Coin Price projects a price level of $0.47 by the end of 2021 and a price level of $1.12 by 2026.
