Everyone seems to agree that Artificial Intelligence (AI) has improved numerous industries, and the same applies to cryptocurrencies. The integration of AI with Blockchains is now providing fresh frontiers for automation, decision-making, and data operations. This article focuses on AI-based cryptos built in 2024 that have super creative solutions across various sectors available in the market.
Why is AI important to Blockchain?
AI and blockchain complement each other perfectly. AI’s ability to quickly process, learn from, and act on large data sets is crucial in the fast-paced cryptocurrency sector, where real-time data analysis and decision-making are key to success. AI enhances cryptocurrency trading speed, improves security, and enables the creation of smart contracts that automate tasks. Below, we highlight some of the top AI Blockchain projects to watch out for in 2024.
SingularityNET
SingularityNET is probably one of the most well-known AI projects within the blockchain sector. Established by Dr. Ben Goertzel, it enables clinicians to begin making money from these algorithms by advertising them in a marketplace. This seamless integration enables clients to incorporate advanced AI solutions into their systems more effectively.
It is not only about the technological platform as a concept but also about doing AI right.
SingularityNET is democratising AI by decentralising AI development and guaranteeing that intelligent tools are both open and helpful. It could become a game-changing global effort for industries such as healthcare or finance as it gathers into one unified ecosystem of multiple AI solutions.
SingularityNET also has its applications in the healthcare industry; it offers services involving evaluating healthcare data and formulating therapy. The long-term goal of the platform is to foster a centralised framework for multiple AI services to interconnect and share information so as to inspire breakthrough solutions in various sectors.
Autonomys
Autonomys is attracting attention within the AI space as its fully interoperable with any layer-one, serving as an infrastructure layer for the Web3 ecosystem. Autonomys’ AI3.0 ecosystem stack is built to support the development and deployment of AI-powered decentralized applications and agents.
It includes several key components: a Distributed Storage Network (DSN) for ensuring data integrity and permanent availability, essential for managing vast AI data. It also offers decoupled execution environments that allow for secure, scalable deployment of smart contracts, super dApps, and agents on Substrate or any virtual machine; and a unique Proof-of-Archival-Storage consensus mechanism, which ensures decentralized transaction validation, sequencing, and settlement.
Fetch.ai
By leveraging artificial intelligence and blockchain, Fetch.ai creates self-governed digital environments. The concept behind that platform is to develop an open environment that allows soft agents to execute various tasks for individuals. These agents are based on artificial intelligence, they are intended for the performance of various types of tasks, for example, determining the optimal routes for transport or energy consumption in smart cities, or performing transactions.
Fetch.ai adopts a unique approach to practical applications, particularly in logistics and infrastructure enhancement. By integrating blockchain technology, Fetch.ai aims to create a future where artificial intelligence can automate routine tasks, streamlining everyday activities and improving overall efficiency.
Ocean Protocol
Ocean Protocol is more focused on data sharing and monetization, a key aspect of artificial intelligence. It provides an open data marketplace in which sellers who hold large values of data can securely contribute to the marketplace. The value of Ocean Protocol lies in its focus on ensuring data privacy and control for its users.
The key driving feature of Ocean Protocol is what is known as data sovereignty. This allows data owners to publish their data on the Ocean marketplace while setting specific requirements regarding its usage, ensuring they maintain control while generating profit. Thus, OCEAN tokens reward providers every time the submitted information is accessed or incorporated into a project.
However, if AI has to become mainstream, high-quality, big data is imperative. This need is met by Ocean Protocol because it provides a model that allows users to make valuable data public while keeping it secure. It also interacts with decentralised finance (DeFi) to incentivize data providers and guarantee that they are active in the marketplace.
AI and cryptocurrency have been used to transform automation, decision-making, and specifically data handling systems. Each of the two has its specific application in areas such as enhancing trading strategies, giving rise to the concept of autonomous agents and secure data exchange. Traders, developers, and all kinds of businesses should follow these projects in 2024 because these projects are an example of what AI can do in the crypto industry.
AI focused blockchain projects are bringing new ideas into the market capable of using AI, a market in its category to be valued at over one trillion US dollars in the near future. Through the use of blockchain, for purposes of security and transparency, these coins are offering investors new opportunities.
