Author: hamster Source: ChainFeeds
In the past two years, the combination of AI and Crypto has become a new hot spot in the crypto market. This cross-field innovation has promoted the development of decentralized artificial intelligence, making data privacy, security and decentralized decision-making possible. The combination of AI technology and blockchain not only shows great potential in the financial field, but also opens up new application scenarios in smart contracts, dApps and data tokenization. Especially in terms of data privacy and security, blockchain technology provides an immutable distributed ledger, providing a safer and more reliable environment for AI model training. In addition, the decentralized execution of AI algorithms also helps to reduce single points of failure and improve the robustness of the system.
To further promote this trend, Fetch.ai, Ocean Protocol and SingularityNET will complete the merger of the Artificial Super Intelligence Alliance (ASI) on July 15, 2024. The merger aims to create a decentralized AI infrastructure and reduce the dominance of large technology companies in AI development. The existing FET, AGIX and OCEAN tokens will continue to trade independently on exchanges. In the future, once third-party integration is completed, the ASI token will be launched, and FET, AGIX and OCEAN will stop trading independently and merge into the ASI token.
The previous announcement date for the token merger was June 13, which was later postponed to July 15. In response to the delay, Fetch.ai said it was due to logistical requirements and technical dependencies to accommodate exchanges, validators and wider ecosystem collaborators.
The total value of the merged ASI token is expected to be approximately US$7.5 billion, which will make it one of the top 20 cryptocurrencies in the world and will increase value and liquidity for token holders. In addition, the merger simplifies interactions within the ecosystem, lowers the threshold for users and developers to participate, increases participation and usage frequency, and thus drives application development and user adoption, especially in the field of AI, where a simplified multi-token system will be easier for new users and developers to access.
Fetch.ai: Intelligent Agent Technology
Fetch.ai is a decentralized platform built on the Cosmos blockchain that aims to create an open and scalable network for AI-driven services and applications. The platform focuses on integrating AI and blockchain technologies to enable autonomous agents to perform tasks such as data sharing, IoT device coordination, and supply chain optimization. Fetch.ai's native token is FET, which supports network governance, payment of transaction fees, and use of AI services. The platform also works with leading companies such as Bosch to optimize industrial processes and supply chain management and promote digital transformation in multiple industries.
Core Technology and Features:
AI Agents: Fetch.ai's AI Agents are small computer programs that can perform specific tasks on behalf of individuals or companies. These agents are able to analyze the usage environment, make decisions, and adapt to changes, thereby automating tasks and personalizing experiences. For example, AI agents can be used in multiple fields such as supply chain optimization, IoT device connectivity, and DeFi.
Fetch Compute: A $100 million infrastructure project that provides developers with advanced computing power using Nvidia GPUs to facilitate the creation of complex AI models and solutions. Users can obtain Fetch Compute Credits by staking Fetch.ai's native token FET to pay for GPU usage.
DeltaV: DeltaV is a search-based chat interface similar to ChatGPT that helps users complete tasks through natural conversations. DeltaV can be integrated with chat applications and calendar applications, acting as an AI travel agent, dispatcher, or other roles to simplify users' daily tasks.
Fetch Wallet: Fetch Wallet is a universal wallet for interacting with the Fetch blockchain network and other ledgers built with the Cosmos SDK. It supports Fetch.ai's native token FET as well as IBC token transfers, and is compatible with Ledger hardware wallets for enhanced security.
Fetch.ai facilitates a variety of automated tasks and data sharing through its intelligent agents, advanced computing resources, and feature-rich wallets. For example, Fetch.ai has partnered with companies in multiple industries to use AI technology to optimize industrial processes, supply chain management, and urban infrastructure. But Fetch.ai's infrastructure involves a complex integration of AI agents, blockchains, and decentralized data systems. This complexity may set a high entry barrier for new users and developers. In addition, despite the use of the Cosmos SDK and an improved Tendermint consensus mechanism to improve performance and interoperability, the network's scalability and ability to handle large-scale applications remain challenging.
Ocean Protocol:Data Monetization
Ocean Protocol is a decentralized data exchange protocol that aims to enable data sharing and monetization through blockchain technology while protecting privacy. The project was founded in Singapore in 2017 by Bruce Pon, Trent McConaghy and other founders, and its core team currently consists of 25 blockchain technology experts and entrepreneurs with operations around the world.
OCEAN tokens are the native cryptocurrency of the Ocean Protocol platform and have multiple key functions: 1) A medium of exchange for purchasing data services and data access rights. 2) Governance, OCEAN token holders can participate in platform governance and vote on major updates, upgrades, and policy changes. 3) Staking and liquidity provision, users can stake OCEAN tokens in specific data asset pools to support the liquidity of data assets and receive corresponding rewards.
Core Technology and Functionality
Data NFTs and Data Tokens: Data NFTs (ERC721) are used to publish and manage data sets and data services. Data providers can use NFT technology to self-custody, store encryption, and access control their data, thereby ensuring the privacy and security of the data. Datatokens (ERC20), which provide access to data services. Each data NFT can generate one or more datatokens, which can set whitelists, pricing and promotion strategies, and can set expiration times. Through datatokens, data providers are able to flexibly manage and monetize their data assets
Compute-to-Data (C2D): An innovative feature of Ocean Protocol that allows data computation while preserving data privacy. Computation tasks are performed in the local environment where the data is located, and the data itself does not leave the local environment. Only the computation results are visible to data consumers. This mechanism not only protects data privacy, but also provides new monetization channels for data providers. For example, companies can provide data to other organizations for analysis without worrying about data leakage or unauthorized access. This approach reduces the privacy risks of data sharing while promoting data-driven AI model development and application.
Ocean Market: A decentralized data market where data providers can publish their datasets and data consumers can purchase and use them. The market uses $OCEAN for transactions, creating an open and transparent data economy. Data providers can profit from selling data, while data consumers can access the datasets they need to train and optimize AI models. Ocean Market is designed to promote the sharing and monetization of data through token economic incentives, making data more widely available and usable.
Data Challenges and Data Farms: Ocean Protocol regularly hosts data science competitions, called Data Challenges. Participants can design AI models and analytical tools to win rewards. These competitions not only incentivize data scientists and developers to participate, but also promote the development of data analysis technology. In addition, Data Farms encourage data providers and consumers to actively participate in the platform's ecosystem through incentive mechanisms. For example, data providers can get rewards by participating in Data Farms, while data consumers can get paid for analyzing and using data. This model not only increases the activity of the platform, but also promotes the circulation and utilization of data.
By combining blockchain and AI technologies, Ocean Protocol aims to provide a secure and efficient trading platform for data providers and consumers. But as a data exchange platform, Ocean Protocol must deal with strict data privacy regulations such as GDPR. Ensuring compliance while maintaining its decentralized nature adds additional complexity. Although its Compute-to-Data approach is designed to protect data privacy, it still needs to evolve to meet regulatory standards and reduce privacy risks.
SingularityNET: AI as a Service
SingularityNET is a decentralized AI platform dedicated to creating an open market where anyone can create, share and monetize AI services. Founded in 2017 by Ben Goertzel and David Hanson, the platform aims to promote the development of AGI, giving it broad adaptability and self-improvement capabilities.
SingularityNET is led by an experienced team of scientists, researchers, engineers, and entrepreneurs. Founder Ben Goertzel holds a PhD in mathematics and has published numerous scientific books and technical papers in the fields of artificial intelligence and robotics. David Hanson is the founder of Hanson Robotics, one of the company's masterpieces, the Sophia robot.
AGIX is the native utility token of the SingularityNET platform, supporting multiple key functions. It is mainly used to pay for transactions on the market, vote on governance proposals, and stake to increase liquidity. AGIX tokens can be used on multiple blockchains, such as Ethereum and Cardano, and users can pay for AI services, participate in platform governance, and receive rewards through staking through AGIX tokens. AGIX tokens also enable AI agents to communicate with each other and interact with external protocols.
Core Features
AI Market: SingularityNET's AI Market helps users browse and use available AI services. The market reads data from the on-chain registry and pairs it with off-chain metadata, allowing users to search, filter, and discover AI services. Each service is audited to ensure data privacy and user security. Payments and service calls are processed through smart contracts, and multi-party escrow functions are integrated, so users can pay for services and rate the services they use. AI service providers can display customized UI components, collect the inputs required for service execution, and display the results. Users can use Metamask or ordinary wallets to pay and test the service through the free trial version provided by the platform. After the free calls are used up, users need to pay for new service calls through their wallets.
OpenCog Hyperon: Aims to implement a complete, scalable, open source general artificial intelligence system. It combines multiple AI methods such as neuro-symbolic AI, evolutionary learning systems, economic attention allocation, machine learning, etc., and collaborates based on a shared knowledge graph.
SingularityNET Bridge:Cross-chain conversion tool that allows users to transfer their tokens between supported blockchains. Currently, it supports seamless conversion of AGIX and NTX tokens on the Ethereum and Cardano blockchains. When users transfer tokens from Ethereum to Cardano, the tokens on Ethereum are destroyed in the smart contract, and an equal amount of new tokens are minted on Cardano, and vice versa.
The main goal of SingularityNET is to create a decentralized AI service network and propose a new concept of "AI as a Service (AIaaS)". The platform implements decentralized logic through smart contracts, aiming to accelerate the development of AI and ultimately realize AGI systems. AGI systems are similar to humans, capable of performing various tasks, and have the ability to self-improve. However, SingularityNET's platform involves complex technologies such as OpenCog Hyperon and AI-DSL. These technologies are still under development and have not been fully put into practical application, resulting in their technical potential not being fully realized. In addition, as a decentralized platform, SingularityNET relies on community governance and multi-party collaboration. However, this decentralized governance model may be inefficient in coordinating large projects and strategic decisions, affecting the advancement of the project. Possible impact of token mergers In order to support the ASI token exchange mechanism, Fetch.ai has minted an additional 1,477,549,566 FET tokens to support AGIX and OCEAN token holders to convert to ASI tokens. The specific conversion ratios are as follows:
AGIX:ASI exchange ratio is 0.433350:1, supporting 866,700,367 newly minted FET tokens.
OCEAN:ASI exchange ratio is 0.433226:1, supporting 610,849,199 newly minted FET tokens.
FET:ASI exchange ratio is 1:1, backed by 1,152,997,575 existing FET tokens.
For users, these fixed conversion rates ensure a fair and predictable conversion process, reducing uncertainty for token holders. In addition, the exchange mechanism for converting OCEAN and AGIX to ASI will be open indefinitely. This allows long-term holders to convert tokens at their convenience without facing immediate pressure or deadlines.
The new total supply of FET will reach 2,630,547,141. The current market capitalization of Fetch.ai is approximately $1.8 billion, the market capitalization of Ocean Protocol is approximately $518 million, and the market capitalization of SingularityNET is approximately $1.144 billion. The total value of the merged token ASI is expected to be approximately $7.5 billion, This significant valuation puts ASI into the top 20 cryptocurrencies and may lead to increased value and liquidity for token holders.Deeper market depth will help mitigate the impact of large transactions on prices and provide a more stable trading environment, thereby attracting more institutional investors to participate.
After the token merger, users and developers no longer need to hold and manage multiple tokens separately. This not only lowers the threshold for participation, but also increases the engagement and frequency of use of users and developers. A unified token system will bring a more intuitive user experience, promote the development of more applications and user adoption. This change is particularly important in the AI track, as complex multi-token systems often hinder the entry of new users and developers. At the same time, the combination of Fetch.ai's intelligent agent technology, Ocean Protocol's data monetization mechanism and SingularityNET's decentralized AI services will produce synergies, enhance the competitiveness of the entire ecosystem, and enable users to access a more unified AI-driven ecosystem.
Summary
After the merger of the Alliance of Artificial Super Intelligence (ASI), user engagement and market liquidity will increase, and resource integration will be strengthened, all of which will promote the development of decentralized AI. However, it also faces certain risks and challenges, such as compatibility issues that may be encountered during the technical integration process, user adaptability issues to the new token system, and potential market volatility risks. In addition, the uncertainty of the regulatory environment may also have an impact on the merged tokens, which requires continued attention and response. Especially in the context of the rapid development of AI and blockchain technology, technological and market uncertainties need to be managed more carefully.
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