SingularityNET (AGIX) is an ambitious project that allows developers to publish AI services and make them accessible to anyone with an internet connection. Based on data from the Coinmarketcap.com site as of Monday (11/12), SingularityNET ( AGIX) is a crypto asset with a market capitalization of IDR 5.87 trillion, ranking 123rd as the top crypto asset globally with a daily buying and selling volume of 805.4 trillion. Billion.
This article will discuss in more detail what SingularityNET (AGIX) is, how it works, who the founders are, tokenomics and the roadmap.
Get to know what SingularityNET (AGIX) is
SingularityNET is a decentralized platform that uses blockchain technology to empower individuals and organizations to build, monetize, and deploy AI services.
Artificial intelligence (AI) technology is rapidly changing our world, impacting industries ranging from health to transportation to finance. Unfortunately, often the development and use of AI technology is concentrated in the hands of large companies and institutions. As a result, access to AI technology is limited and hinders widespread adoption.
SingularityNET emerged as a solution by creating a decentralized AI ecosystem. By leveraging blockchain technology, SingularityNET enables anyone to contribute to the development and utilization of AI services.
How SingularityNET Works
SingularityNET operates in an interesting and innovative way of working. Imagine SingularityNET is a marketplace, where each booth is an artificial intelligence (AI) agent providing a unique service. Each of these agents can be created and operated by anyone in the community. So, if there is a person or company who wants to build or use AI services, they can involve this agent in the network.
To make everything run smoothly, SingularityNET uses something called blockchain technology. It is like a digital ledger that records all transactions and activities on the network. When a person or company uses an AI service from an agent, they use a special token called AGIX as a means of payment. AGIX also provides incentives to developers who create useful AI services.
Another interesting thing is that SingularityNET focuses on developing useful artificial intelligence. They are not only creating regular AI applications, but are also working towards developing artificial general intelligence (AGI), which can perform human-like tasks.
All of this allows SingularityNET to create an ecosystem that is decentralized, open, and focused on positive benefits for the world.
In general, there are three important components in SingularityNET, namely:
- The registry functions as a smart contract used by artificial intelligence developers to describe the AI services they provide to users or register AI service providers.
- Multi-party escrow or MPE acts as a smart contract that manages every payment transaction through the marketplace using an escrow account.
- The daemon is a key component that includes an off-chain side proxy for developers interested in providing artificial intelligence services into the internet space.
Who is the founder of SigularityNET?
The founder of SingularityNET is Dr. Ben Goertzel. He founded this platform with the mission of creating AGI technology that is decentralized, democratic, inclusive and beneficial for all. In other words, Dr. Ben wants AI technology to be independent of any central entity and accessible to anyone, not limited to the narrow goals of one company or even one country.
The SingularityNET team consists of experienced engineers, scientists, researchers, entrepreneurs and marketers. The core team of this platform is also filled with a team of professionals who have experience in the fields of finance, robotics, biomedical AI, media, arts and entertainment.
SingularityNET Ecosystem
While building the foundations of AGI, SingularityNET is also initiating an ecosystem of organizations that will support the platform with artificial intelligence services and create mass use of AGIX tokens.
SingularityNET derivative projects are being developed in select markets, such as DeFi, Robotics, Biotech and Longevity, Gaming and Media, Arts and Entertainment (Music), and Enterprise-Level Artificial Intelligence.
SingularityNET acts like an incubator or development platform that provides guidance, funding and expertise to these projects with the aim of making these initiatives into successful and completely independent entities in the spirit of decentralization.
What Makes SingularityNET Unique?
SingularityNET stands out from other AI platforms because it is decentralized, open-source , and has clear tokenomics. This uniqueness creates an ecosystem that encourages collaboration, transparency, and innovation on the platform
Below are some of the unique features of SingularityNET compared to other AI platforms.
- Decentralized AI Marketplace: SingularityNET is the world's largest AI marketplace running on blockchain technology. This marketplace enables the creation, sharing, and monetization of AI services at scale.
- Focus on Beneficial AI: The network prioritizes developing AI systems that aim to make the world more empathetic, just and sustainable.
- Artificial General Intelligence (AGI) Development: SingularityNET is committed to the development of AGI, a level of artificial intelligence that can perform any task a human can.
- AI Marketplace & AI Publisher: The platform has an AI Marketplace and AI Publisher, allowing users to search, try, and choose from a growing library of AI algorithms.
- Domain-Specific Language for AI: SingularityNET introduces an innovative AI network where AI agents can dynamically shift work to each other, leverage AI functions, exchange data, negotiate payments, and improve agent reputation systems.
- AGIX Token Utility: AGIX is a utility token used across the SingularityNET platform for transaction management and decentralized community governance.
Tokenomics & Benefits of AGIX Token
AGIX, SingularityNET's native token, has various functions, including as a means of payment for transactions in artificial intelligence markets. Independent developers earn AGIX as a service fee when users successfully purchase their artificial intelligence products.
AGIX token holders can stake to earn rewards and participate in the governance of the SingularityNET community by voting on development decisions and which AI projects will receive funding from Deep Funding.
Initially, the platform used AGI tokens with a maximum supply of 1 billion, but in 2021, SingularityNET switched to AGIX which can operate on both Ethereum and Cardano blockchains.
The total supply of AGIX is 2 billion, and approximately 60% of the total supply has been circulating in the market as of March 2023. The new token supply will be released for 91 years, and AGI will no longer be used as AGIX has replaced it.
Conclusion
SingularityNET is creating a momentous shift in the AI landscape, paving the way for a truly decentralized and democratic AI ecosystem. By empowering individuals and organizations to contribute to the development of AI and profit from their creations, SingularityNET has the potential to revolutionize the way we interact with and utilize AI technology.
How to Buy AGIX Tokens on Bittime
After reading a complete review of what SingularityNET is, are you interested in buying and investing in this crypto project? You can buy AGIX tokens on the best crypto exchange platforms in Indonesia, one of which is Bittime. AGIX is available on Bittime in the AGIX IDR pairing .
To be able to buy AGIX tokens on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance to buy AGIX tokens. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can make AGIX purchases in the application. Click to get a more complete guide on how to buy AGIX on Bittime.
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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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