SingularityNET cryptocurrency is the digital fuel of an ecosystem that aims to be a decentralized marketplace for artificial intelligence products. Why it’s needed, you may ask. A general artificial intelligence running on the SingularityNET blockchain will be able to analyze and perform complex mental tasks just like humans do. It will be able to be trained and its thinking logic will become very similar to ours. AGI’s general artificial intelligence will be able to think like a human.
An artificial intelligence that understands the meaning of a fictional work or legal document could be profitable because it would theoretically be able to perform some of the same tasks that humans do. For example, artificial intelligence in a self-driving car could choose its own route and deliver cargo and passengers. Such systems could be successfully used in urban public transport and long-distance transportation.
By and large, AI can be involved in very many spheres. However, experts believe that it will take decades to develop artificial intelligence that will fully think like a human.
One of Singularity Net’s goals is to develop AGI artificial intelligence and decentralize it, making it accessible to everyone. The developers want to create a framework for the emergence of decentralized human-level intelligence and publish the source so that everyone can participate in its creation.
Technical Features
Singularity Net’s main product, AI Marketplace & AI Publisher, is an ever-growing library of AI algorithms. The core of the platform is the marketplace. Developers can buy AI, as well as create and sell AI through the platform. All transactions are paid for with the SingularityNET (AGIX) cryptocurrency. In addition, they hope to create an AI training feature.
Helping the developers is the scalable OpenCog Hyperion open source general intelligence system built on OpenCog software. The creators of SingularityNET (AGIX) hope that OpenCog Hyperion will be able to support a variety of AI strategies and methods. Specifically, they want to utilize evolutionary learning, machine learning, and attention allocation.
Ecosystem
While laying the groundwork for AGI, SingularityNET is also launching an ecosystem of organizations that will fuel the platform with artificial intelligence services and enable mass adoption of the AGIX token. These spinoffs are being developed in a number of strategically selected vertical markets that include DeFi, robotics, biotech and longevity, gaming and media, arts and entertainment (music), and enterprise-level AI.
SingularityNET token holders can support the project by posting AGIX tokens. Users post tokens through the portal for 30 days. AGIX users can earn rewards and participate in the management and governance of the platform.
The Singularity Net bridge allows users to transfer AGIX tokens to other blockchains. However, it currently only supports Ethereum and Cardano blockchains. There is another token in the system which they call NTX, it can work with both Ethereum (ETH) and Cardano (ADA) blockchains. Hence, Singularity Bridge allows users to buy AI with ERC-20 and ADA tokens. In the second phase, users can exchange AGIX tokens one-to-one through Ethereum and Cardano chain.
