AIChain Token

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Discover AIChain Token's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is AIChain Token?

AICHAIN (AIT) is a decentralized digital asset operating on the Ethereum blockchain. It is designed to create a popularized, adaptive, and sustainable AI application pool, aiming to break the global data monopoly barrier. AICHAIN will be a blockchain-driven AI ecosystem, reducing the marginal AI learning cost effectively through the first AI Learning Robot Alliance.

How is AIChain Token used?

The AICHAIN token (AIT) is primarily used for trading within the AICHAIN ecosystem, which is a blockchain-driven artificial intelligence (AI) platform. This platform aims to create a decentralized infrastructure for AI applications, reducing the marginal cost of AI learning and promoting sustainable AI development.

How do I store AIChain Token?

To store AIChain Token (AIT) tokens, you can use various wallet options. Here are a few:

  1. Atomic Wallet: This multi-asset wallet supports over 1,000 coins and tokens, including AIT. It is available for desktop and mobile devices and offers features like private key encryption and 24/7 online support.

  2. Noone Wallet: This wallet allows you to create a free AICHAIN wallet and manage your tokens securely. It is available for web, Android, and iOS, and offers features like private key control, two-factor authentication, and regular security updates.

  3. Hardware Wallet: For added security, you can store your AIT tokens in a hardware wallet. This provides an offline storage solution, protecting your tokens from online threats.

Remember to always follow best practices for wallet security, such as enabling two-factor authentication, using strong passwords, and keeping your wallet software up to date.

How to buy AIChain Token?

To buy AIChain Token (AIT) tokens, follow these steps:

  1. Create an Account on a Centralized Exchange:

    • Choose a reliable exchange like Binance, Coinbase, or Gate.io.
    • Register for an account by providing necessary information, including your email address, a secure password, and completing any identity verification steps.
    • Research the exchange's reputation and read user reviews to ensure it is suitable for you.
  2. Fund Your Account:

    • Choose a funding method, such as credit/debit card, bank deposit, P2P trading, or third-party payment channels.
    • Deposit fiat currency into your exchange account using your chosen method.
  3. Buy a Base Currency:

  • Purchase a widely traded cryptocurrency like Ethereum (ETH) or Tether (USDT) using your deposited fiat currency.
  • This base currency will be used to buy AIT tokens.
  1. Transfer Base Currency to a Crypto Wallet:

    • Set up a crypto wallet like Trust Wallet, which supports the Ethereum network.
    • Transfer your base currency (e.g., ETH) from the exchange to your wallet.
  2. Connect to a Decentralized Exchange (DEX):

    • Choose a DEX that supports your wallet, such as 1inch.
    • Connect your wallet to the DEX using your wallet address.
  3. Buy AIT Tokens:

  • On the DEX, select your base currency (e.g., ETH) as the payment and AIT as the coin you want to buy.
  • If AIT doesn’t appear, find its smart contract address on Etherscan.io and paste it into the DEX.
  • Click the Swap button to complete the transaction.
  1. Transfer AIT Tokens to Your Wallet:
    • Once the transaction is complete, your AIT tokens will be in your wallet.
    • You can hold them in your wallet or use them for further trading.

Remember to always be cautious of scams and ensure you are using official websites and contracts.

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History of AIChain Token

The AIChain Token (AIT) is a decentralized blockchain digital asset that operates on the Ethereum platform. It was designed as part of the AIChain ecosystem, a public blockchain infrastructure for artificial intelligence (AI) applications. The token was created by AIChain, a company founded by Duan Kai, who serves as its CEO.

The AIChain Foundation, a non-profit organization established in Singapore, was set up to support the development and governance of AIChain. The foundation is responsible for managing the platform's operations, ensuring transparency, and promoting the safety and harmonious development of the community.

The token was initially generated through an ERC20 contract and was scheduled to be listed on exchanges in February 2018. The foundation planned to replace the ERC20 tokens with main chain tokens once the AIChain main chain was launched, with any remaining tokens being frozen and destroyed.

In terms of its market performance, AIT has experienced significant price fluctuations over time. It reached an all-time high of $0.1405 on January 18, 2018, and an all-time low of $0.0004067 on March 13, 2020. As of recent data, the token's price has been around $0.00302, with a circulating supply of approximately 535 million AIT.

The AIChain community is active on various social media platforms, including Facebook, Twitter, Reddit, Medium, and Telegram, where users can stay updated on project developments and engage with the team.

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How AIChain Token works

The AICHAIN Token (AIT) is a decentralized blockchain digital asset that operates on the Ethereum platform. Here's an overview of how it works:

Token Generation and Distribution

AIT was generated through an ERC20 contract, with a total supply of 2.1 billion tokens. The tokens were initially distributed to investors through private sales, and the remaining tokens are held by the AICHAIN Foundation, which will release them as the project progresses.

Consensus Mechanism

AICHAIN uses a combination of Proof of Work (PoW) and AI consensus mechanisms. The PoW mechanism is used for the blockchain, while the AI consensus mechanism is integrated into a separate distributed network. This hybrid approach aims to balance security and efficiency.

Governance Structure

The AICHAIN Foundation, a non-profit organization based in Singapore, oversees the development and governance of the platform. The foundation has a centralized governance structure, which includes a strategic committee and various functional units, such as R&D, marketing, and operations. This structure is designed to ensure the sustainability and efficiency of the platform.

Technical Roadmap

The project's roadmap includes several key milestones, such as the development of a digital asset entitlement platform, the integration of AI consensus fork, and the release of a formal network operation. The foundation also plans to integrate AI virtual character applications and trusted block data points to enhance the platform's functionality.

Trading and Storage

AIT can be traded on various cryptocurrency exchanges, including centralized and decentralized platforms. Users can store their AIT tokens in compatible wallets, such as the Atomic Wallet, which supports over 1000 coins and tokens.

Use Cases

The AICHAIN platform aims to facilitate communication, cooperation, and data sharing among participants. It is designed to link blockchain technology with real-world applications through technical and conceptual innovations. The platform's use cases include commercial applications, such as digital asset entitlement and AI virtual character applications.

Overall, the AICHAIN Token (AIT) is a decentralized digital asset that operates on the Ethereum platform, utilizing a hybrid consensus mechanism and a centralized governance structure. Its use cases focus on integrating blockchain technology with real-world applications.

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AIChain Token's strengths

The Aichain Token (AIT) has several strengths that make it a notable cryptocurrency project:

  1. Blockchain-Driven AI Ecosystem: AICHAIN is designed to create a public blockchain infrastructure for AI applications, aiming to break the global data monopoly barrier and reduce the marginal AI learning cost effectively. This focus on AI applications sets it apart from other cryptocurrency projects.

  2. Decentralized Medium of Exchange: AIT serves as a decentralized medium of exchange on the AICHAIN platform, facilitating transactions within the ecosystem.

  3. Ethereum-Based: AICHAIN operates on the Ethereum platform, leveraging the security and scalability of this well-established blockchain network.

  1. Proof of Work Consensus Mechanism: AICHAIN adopts the Proof of Work (PoW) consensus mechanism, ensuring the integrity and security of transactions within the network.

  2. Wide Community Presence: AICHAIN has a significant online presence, with official accounts on various social media platforms such as Facebook, Twitter, Reddit, Medium, and Telegram, which helps maintain a strong community engagement.

  3. Listed on Multiple Exchanges: AIT is listed on multiple cryptocurrency exchanges, providing users with various options to buy, sell, and trade the token.

These strengths contribute to AICHAIN's potential as a cryptocurrency project, particularly in the AI application space.

AIChain Token's risks

The AIChain Token (AIT) is associated with several financial risks that investors should be aware of. These risks include:

  1. Market Volatility: AIT is a highly volatile cryptocurrency, which means its price can fluctuate rapidly and unpredictably. This volatility can result in significant losses for investors.

  2. Risk of Loss: The token's value can drop significantly due to various market and economic factors, leading to potential losses for investors.

  3. Security Risks: The loss or destruction of private keys required to access AIT tokens can be irreversible, and unauthorized access to email or accounts can lead to fraudulent claims.

  1. Regulatory Risks: AIT may be classified or treated as a currency, security, or other financial instrument by governments, which could lead to legal restrictions or bans, affecting its value and usability.

  2. Manipulation Risks: AIT has been identified as having a high risk of price manipulation due to its low market capitalization and trading volume.

  3. Liquidity Risks: The token's liquidity can be low, making it difficult for investors to buy or sell AIT quickly and at a favorable price.

  1. Dependence on Ethereum: AIT operates on the Ethereum blockchain, which means that any issues with Ethereum, such as insufficient processing power or network congestion, can negatively impact AIT's performance and stability.

  2. Risk of Scams: There is a risk of scams and fraudulent activities related to AIT, particularly if investors are not cautious and do not thoroughly research the project and its associated risks.

Investors should carefully consider these risks and conduct thorough research before deciding to invest in AIT.

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Did AIChain Token raise funds?

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AIChain Token’s team

  • Kha Do: CEO at AIT Protocol, Co-Founder at Megala Ventures, and experienced in cryptocurrency marketing and startup incubation.
  • Walid Messaoudi: Co-founder of Smart Chain Technology and Project Manager at AI Artichain (AIT) Defi, with extensive experience in blockchain and cryptocurrency development.
  • Dr. HuiXing Jia: Responsible for research and development of AICHAIN artificial intelligence image and video products, with over 10 years of experience in Internet operations management and marketing.
  • Stephen Huntsman: Experienced in world diplomacy, trans-media, technology, and natural product wellness industries, with a focus on AI applications and market expansion.
  • Gabriel Nones-Newman: Skilled in GPGPU computing, networking, machine learning, and blockchain applications, with senior positions in top IT companies and experience in mining and regulation.

Whalee AI

The fundamental analysis assistant for crypto value investors.

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