SingularityNET

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Discover SingularityNET'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 SingularityNET?

SingularityNET (AGIX) is a decentralized platform that combines artificial intelligence (AI) and blockchain technology to create a global marketplace for AI services. It allows users to generate, deploy, and engage in transactions with AI agents, utilizing smart contracts and the AGIX token for value exchange and governance. The platform aims to accelerate the development of artificial general intelligence (AGI) and foster a democratic, inclusive environment for AI innovation.

How is SingularityNET used?

SingularityNET (AGIX) is a decentralized AI marketplace that utilizes blockchain technology to facilitate the development and deployment of AI services. The AGIX token is the native utility token of the platform and serves several purposes:

  1. Payment for AI Services: AGIX is used to pay for marketplace-based transactions, enabling global access to AI services and future autonomous AI interactions.

  2. Governance: AGIX holders participate in governance decision-making within the SingularityNET organization, ensuring community involvement in the platform's development.

  3. Staking and Liquidity: Users can stake AGIX tokens to provide liquidity to the platform and earn rewards, contributing to the network's stability and security.

  1. Token Bridge: AGIX tokens can be transferred across supported blockchains, such as Ethereum and Cardano, through the SingularityNET Bridge, enhancing the token's flexibility and usability.

  2. AI Publisher: The AI Publisher allows developers to share and monetize their AI models, creating a library of AI algorithms accessible to the community.

  3. Decentralized AI Marketplace: SingularityNET provides a platform for developers to create, publish, and manage AI services, which can be integrated into various applications.

Overall, AGIX is the key component that facilitates transactions, governance, and liquidity within the SingularityNET ecosystem, enabling the development and deployment of decentralized AI services.

How do I store SingularityNET?

To store SingularityNET (AGIX) tokens, you can use various methods:

  1. MetaMask:

    • Install MetaMask as a browser extension.
    • Create an identity, which will be used for blockchain transactions and storing tokens.
    • Ensure you save the seed phrase securely, as it helps recover your account in case of loss.
  2. Hardware Wallets:

    • Ledger Nano X and Ledger Nano S are compatible with storing AGIX tokens.
    • Transfer AGIX from exchanges like Coinbase or Kucoin to your Ledger wallet.
  3. Freewallet:

  • Use the Freewallet app on iOS and Android or the web version.
  • Create a SingularityNET Token Wallet, which offers multi-level protection and fee-free transactions between Freewallet users.
  1. MyEtherWallet (MEW):
    • Use MEW with Ledger Nano X access to manage your AGIX tokens.

It is essential to ensure the security of your tokens by using strong passwords, two-factor authentication, and keeping your seed phrases and private keys safe.

How to buy SingularityNET?

To buy SingularityNET (AGIX) tokens, follow these steps:

  1. Choose a Cryptocurrency Exchange: Select a reputable exchange that supports AGIX trading, such as Binance, KuCoin, or Gate.io. Ensure the exchange is available in your country and compliant with local regulations.

  2. Create an Account: Register on the chosen exchange's website or mobile app. Verify your email address and identity by providing a government-issued ID and enabling two-factor authentication for added security.

  3. Deposit Funds: Add funds to your exchange account using a credit/debit card, bank transfer, or by transferring existing cryptocurrencies like USDT, ETH, or BNB. Be aware of any fees associated with these methods.

  1. Buy AGIX: Use your deposited funds to purchase AGIX. You can either place an instant buy order at a fixed price or trade for AGIX on the spot market. The spot market allows you to set your own price, but the instant buy feature is typically more expensive.

  2. Store Your AGIX: Once you have purchased AGIX, you can store it in your exchange account or transfer it to a personal crypto wallet for added security and control.

Remember to carefully consider the risks associated with investing in cryptocurrencies and ensure you understand the legal, regulatory, and tax implications in your region before making a purchase.

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History of SingularityNET

SingularityNET, founded by Dr. Ben Goertzel, aims to create a decentralized, democratic, inclusive, and beneficial Artificial General Intelligence (AGI) that is not dependent on any central entity. The platform brings together seasoned engineers, scientists, researchers, entrepreneurs, and marketers from various fields, including finance, robotics, biomedical AI, media, arts, and entertainment.

The long-term vision of SingularityNET is to build a network of complex AI Agent interactions, primarily using resources from the OpenCog Foundation. This vision includes the development of a decentralized protocol for creators and users of AI to interact with each other, ultimately leading to a functioning AI system where nodes on the network make their own decisions about how to connect services and provide solutions to academic and business problems.

SingularityNET has a utility token called AGIX, which is used for transactions management and decentralized community governance. AGIX holders participate in governance decision-making within the organization and can stake their tokens to provide platform liquidity, earning compensation for their contributions. The token works across multiple chains, including Cardano and Ethereum.

The platform has made significant progress since its development began in August 2017. The beta version was released in February 2019, and the team has continued to work towards creating a fully decentralized AI marketplace. The SingularityNET Foundation supports the project, ensuring that the benefits of AI are shared by all and not controlled by a few powerful institutions.

SingularityNET has also partnered with other organizations, such as the DFINITY Foundation, VeChainThor, and World Mobile, to advance its mission of creating a global ecosystem of decentralized AI.

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How SingularityNET works

SingularityNET (AGIX) is a decentralized marketplace that brings together artificial intelligence (AI) models and blockchain technology. Here's how it works:

The AGIX Token

The AGIX token is the native currency of SingularityNET. It serves multiple purposes, including facilitating transactions, governance, and staking. AGIX is not limited to a single blockchain; it can be used on Cardano, Polygon, and Binance Smart Chain, making it highly versatile.

Marketplace and Services

SingularityNET operates as a decentralized marketplace where developers can publish and sell their AI services. These services can range from simple algorithms to complex end-to-end solutions for various industries. Users can access these services using AGIX tokens, which are used for transactions and payments.

Staking and Governance

AGIX token holders can participate in the governance of SingularityNET by voting on important decisions, such as technology upgrades and policy changes. Additionally, users can stake their AGIX tokens to support the platform's security and liquidity, earning rewards in return.

Tokenomics

The total supply of AGIX tokens is capped at 1,260,840,661, with a circulating supply of 1,205,321,857. This ensures long-term sustainability and stability.

Key Features
  • AI Publisher: Allows developers to share their AI data, creating large datasets that can improve AI models.
  • Token Bridge: Enables the transfer of AGIX tokens across different blockchains.
  • Staking Portal: Users can stake AGIX tokens to support the network and earn rewards.
Founders and Mission

SingularityNET was founded by Dr. Ben Goertzel and Dr. David Hanson in 2017. Their mission is to make AI accessible to everyone and create a beneficial technological singularity. The platform is designed to be scalable, flexible, and community-driven.

Technology and Partnerships

SingularityNET uses blockchain technology to create a decentralized network of AI services. It has partnerships with organizations like the DFINITY Foundation, VeChainThor, and World Mobile, which support its mission to decentralize AI and promote sustainability.

Core Components

The SingularityNET platform consists of several critical components, including the daemon, CLI, and SDK, which abstract away blockchain interactions and facilitate AI service integration. The platform is designed to be open, scalable, and compliant with regulatory requirements.

AI Applications

SingularityNET supports various AI applications, including image and video analysis, speech recognition, text processing, and bio-AI. It also allows for the deployment of autonomous AI agents that can interact with other services on the network.

OpenCog Hyperon

OpenCog Hyperon is an open-source project aimed at creating a complete, scalable, and open-source general artificial intelligence system. It integrates different AI strategies and methods, such as neuro-symbolic AI and evolutionary learning systems.

Community and Funding

The Cardano community has set aside $500,000 in ADA tokens to fund AI projects that deepen the partnership between SingularityNET and Cardano. This collaboration aims to bring the two communities together in support of their shared vision.

Overall, SingularityNET (AGIX) is a comprehensive platform that combines AI and blockchain to create a decentralized marketplace for AI services, promoting innovation, collaboration, and sustainability.

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SingularityNET's strengths

SingularityNET (AGIX) has several strengths that contribute to its innovative and decentralized AI marketplace:

  1. Decentralized AI Services: SingularityNET offers a decentralized network of AI services accessible through blockchain technology, allowing developers to publish and monetize their AI services globally.

  2. AI Marketplace: The platform features a marketplace where users can interact with AI services, facilitating trustless and automated transactions, and providing tools for developers to manage and track their services.

  3. AGIX Token: The native AGIX token is used for transactions, governance, and staking, enabling holders to participate in decision-making processes and earn rewards through staking sessions.

  1. Cross-Chain Compatibility: The platform supports token transfers across multiple blockchains, including Ethereum and Cardano, ensuring flexibility and interoperability.

  2. Governance and Community: SingularityNET aims to implement a democratic governance system, allowing token holders to participate in voting processes and contribute to the platform's development.

  3. Diverse AI Capabilities: The platform supports a wide range of AI services, including image, video, speech, text, time-series, bio-AI, and network analysis, making it a comprehensive AI ecosystem.

  1. Autonomous AI Agents: Developers can deploy autonomous AI agents that interoperate with other services on the network, enhancing the overall capabilities of the platform.

  2. Robust Technology: SingularityNET leverages advanced technologies such as smart contracts, multi-party escrow, and domain-specific languages to ensure secure and efficient transactions.

  3. Strong Leadership: The platform is led by renowned AI researcher Dr. Ben Goertzel, ensuring a strong focus on AI development and innovation.

  1. Partnerships and Collaborations: SingularityNET has partnerships with other prominent blockchain projects, such as Fetch.ai and Ocean Protocol, to advance AI research and development.

These strengths position SingularityNET as a pioneering force in the decentralized AI marketplace, aiming to democratize access to AI services and capabilities.

SingularityNET's risks

SingularityNET (AGIX) is considered a relatively low-risk investment, according to InvestorsObserver analysis. The proprietary scoring system evaluates the token's risk by analyzing the amount of money required to move the price over the past 24 hours, as well as recent changes in volume and market capitalization. This metric assesses how easily the token's price can be manipulated by limited trading. The score ranges from 0 to 100, with low scores indicating high risk and high scores indicating low risk.

Despite the low risk rating, there are concerns about the decentralization of SingularityNET. The top 100 wallets own a significant percentage of the token supply, which raises questions about the true decentralization of the technology. Additionally, the platform's effectiveness in providing valuable services and its ability to reach widespread adoption are also points of discussion among users.

However, SingularityNET incorporates multiple layers of security protocols to safeguard transactions and data, and its smart contracts undergo rigorous testing. This suggests that the platform is designed with security in mind, which can help mitigate some of the risks associated with investing in AGIX.

Overall, while SingularityNET is considered a low-risk investment, it is essential to consider the broader context of the cryptocurrency market and the potential risks associated with investing in AGIX.

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Did SingularityNET raise funds?

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SingularityNET’s team

  • Ben Goertzel: CEO and Chief Scientist, founder of SingularityNET, and a leading developer of the OpenCog framework for artificial general intelligence.
  • Cassio Pennachin: Co-founder, involved in the development of SingularityNET.
  • Alexey Potapov: Chief AI Alchemist, responsible for AI strategy and development.
  • David Hanson: Co-founder, involved in the development of Sophia, the humanoid robot.
  • Cassio Pennachin: Co-founder, involved in the development of SingularityNET.
  • Alexey Potapov: Chief AI Alchemist, responsible for AI strategy and development.
  • David Hanson: Co-founder, involved in the development of Sophia, the humanoid robot.

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