Artificial Intelligence Utility Token

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Discover Artificial Intelligence Utility 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 Artificial Intelligence Utility Token?

AITECH is the world's first deflationary Artificial Intelligence utility token, serving as a payment gateway for accessing services on the Solidus AI Tech platform. It facilitates payments for Artificial Intelligence as a Service (AIaaS), Blockchain as a Service (BaaS), and High-Performance Computing (HPC) resources. The token is part of a deflationary economy where a percentage of tokens used for services are systematically burned, ensuring transparency and maintaining a stable supply.

How is Artificial Intelligence Utility Token used?

The Artificial Intelligence Utility Token (AITECH) is the core token of the Solidus AI Tech ecosystem. It serves as a payment gateway for various services offered on the platform, including:

  1. Licensing Artificial Intelligence as a Service (AIaaS): AITECH tokens are used to license AI services, enabling users to access AI capabilities for their applications.

  2. Blockchain as a Service (BaaS): AITECH tokens facilitate the use of blockchain services, providing users with a seamless way to integrate blockchain technology into their projects.

  3. Infrastructure as a Service (IaaS): Users can rent High-Performance Computing (HPC) power using AITECH tokens, allowing them to access advanced computing resources.

  1. Marketplace Transactions: AITECH tokens are used to purchase and license AI software applications developed by software developers on the Solidus AI Tech marketplace.

  2. Staking and Governance: AITECH tokens can be staked to earn rewards and participate in DAO governance, with voting power proportional to the amount of tokens staked.

  3. API Access: AITECH tokens grant access to APIs and other tools powered by Solidus AI Tech.

The token's deflationary nature ensures that a percentage of AITECH tokens used for these services are burned, maintaining transparency and reducing the overall supply over time.

How do I store Artificial Intelligence Utility Token?

To store Artificial Intelligence Utility Token (AITECH) tokens, you have two primary options:

  1. Store in Your KuCoin Account:

    • Holding your AITECH tokens in your KuCoin account provides quick access to trading products, such as spot and futures trading, staking, lending, and more. KuCoin serves as the custodian of your crypto assets, ensuring security and convenience. Make sure to set up a strong password and upgrade your security settings to prevent unauthorized access.
  2. Hold in Non-Custodial Wallets:

    • For enhanced security and control, you can withdraw your AITECH tokens to a non-custodial wallet. This grants you complete control over your private keys. You can use various types of wallets, including hardware wallets, Web3 wallets, or paper wallets. Be sure to store your private keys securely, as losing them may result in the permanent loss of your AITECH tokens.

Additionally, you can also store AITECH tokens in Trust Wallet by following these steps:

  • Install and configure Trust Wallet.
  • Use the 'Receive' function to generate a QR code and your wallet's address.
  • Locate Solidus Ai Tech tokens by searching for "Solidus Ai Tech" or "AITECH" within the wallet. If not listed, you can add them manually by entering the contract address, token name, symbol, and decimals.

How to buy Artificial Intelligence Utility Token?

To buy Artificial Intelligence Utility Token (AITECH) tokens, you can follow these steps:

  1. Create an Account on a Centralized Crypto Exchange:

    • Go to a centralized crypto exchange like KuCoin, BingX, or MEXC, and create a free account.
    • Secure your account by enabling two-factor authentication and verifying your identity.
  2. Add a Payment Method:

    • Deposit funds into your exchange account using a payment method accepted by the exchange, such as a credit card or bank transfer.
  3. Buy AITECH Tokens:

  • Navigate to the AITECH trading page on the exchange and select the trading pair you want to use (e.g., AITECH/USDT).
  • Enter the amount of AITECH tokens you want to buy and execute the trade.
  1. Store Your AITECH Tokens:
    • You can store your AITECH tokens in your exchange account or transfer them to a non-custodial wallet for added security.

By following these steps, you can purchase and manage your AITECH tokens on a centralized crypto exchange.

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History of Artificial Intelligence Utility Token

The history of the Artificial Intelligence Utility Token (AITECH) began with the establishment of Solidus Technologies in December 2017. Initially, the company focused on cryptocurrency mining, primarily Ethereum (ETH) via GPU-based mining rigs. However, in response to the 2020 financial crisis and the subsequent surge in demand for Artificial Intelligence (AI) services, Solidus Technologies shifted its core focus to AI and created Solidus AI Tech as its AI division.

Solidus AI Tech launched AITECH, the world's first AI utility token, in December 2021. This eco-friendly cryptocurrency was designed to be more energy-efficient than traditional mined coins, as it does not require substantial power consumption for network security. The company's Research and Development team achieved a significant 40% reduction in power consumption compared to industry standards for Ethereum mining hardware, making its High Performance Computing (HPC) Data Centre one of the most environmentally friendly in the world.

AITECH is a non-mineable token, which means it does not necessitate the energy-intensive process of mining. Instead, it utilizes a unique software algorithm and customized hardware architecture to minimize power consumption. This approach makes it a more sustainable option for the cryptocurrency sector, aligning with the goals of the Crypto Climate Accord.

Solidus AI Tech's infrastructure is designed to cater to various organizations seeking AI services. The company employs innovative technologies such as evaporative air cooling, which consumes 80% less energy than traditional air conditioning methods. Additionally, the heat generated by the machines is repurposed to provide warmth during the cold season, further reducing energy waste.

The token has been designed to be used for purchasing AI services, and it can be bought, staked, or held. Solidus AI Tech aims to lead the charge in making the cryptocurrency sector more environmentally friendly, and AITECH is a key component of this mission.

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How Artificial Intelligence Utility Token works

The Artificial Intelligence Utility Token (AITECH) is a cryptocurrency designed to facilitate various services within the Solidus AI Tech ecosystem. Here's a detailed overview of how it works:

Payment Gateway

AITECH serves as a payment gateway for accessing services such as Artificial Intelligence as a Service (AIaaS), Blockchain as a Service (BaaS), and High-Performance Computing (HPC) power via the Infrastructure as a Service (IaaS) platform. This means that users need AITECH tokens to license AI services, utilize blockchain solutions, and rent HPC resources.

Token Utilities

The AITECH token has several utilities:

  • Licensing AI Services: Users can access AI services, including AIaaS and BaaS, by paying with AITECH tokens.
  • Rewarding Popular AI Applications: The token is used to reward the most popular AI applications in the AI marketplace.
  • Staking Incentives: Users can earn rewards by locking up their AITECH tokens on the staking platform.
  • DAO Governance: AITECH token holders participate in decentralized governance, with voting power proportional to the amount of tokens staked.
Deflationary Mechanism

A percentage of AITECH tokens used for acquiring services on the platform are systematically burned, ensuring transparency and maintaining a deflationary token economy.

Token Details

AITECH is an ERC20/BEP20 standard smart contract with a total supply of 2 billion tokens. The contract inherits from ERC20, Ownable, and ERC20Burnable contracts, allowing for various transactions on the Ethereum blockchain.

Security and Sustainability

Solidus AI Tech has built an eco-friendly, 8,000 square foot HPC data center in a highly secure European location. The platform incorporates a vulnerability monitoring system to ensure comprehensive security and protection against hacking and fraud.

Overall, the AITECH token is designed to facilitate seamless transactions and interactions within the Solidus AI Tech ecosystem, promoting the adoption of AI and blockchain technologies while maintaining a sustainable and secure infrastructure.

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Artificial Intelligence Utility Token's strengths

The Artificial Intelligence Utility Token (AITECH) has several strengths that make it a promising investment opportunity in the cryptocurrency market:

  1. Deflationary Token Economy: AITECH is designed to be a deflationary token, meaning that a percentage of tokens used for services on the platform will be systematically burned. This process ensures transparency and helps maintain the token's value by reducing the circulating supply over time.

  2. Comprehensive Solution: AITECH serves as a payment gateway for accessing various services on the Solidus AI Tech platform, including Artificial Intelligence as a Service (AIaaS), Blockchain as a Service (BaaS), and High-Performance Computing (HPC) resources. Additionally, it allows for traditional payment methods, which are seamlessly converted to AITECH tokens on the backend.

  3. Diverse Revenue Streams: Solidus AI Tech generates revenue from multiple sources, including the AITECH Pad launchpad, GPU marketplace, AI marketplace, AIaaS, BaaS, and staking rewards. This diversification helps ensure a stable financial foundation for the project.

  1. Environmental Consciousness: The Solidus AI Tech data center, spanning over 8,000 square feet, is strategically located in a highly secure European location and is environmentally conscious, which appeals to investors concerned about the ecological impact of their investments.

  2. Strong Infrastructure: The data center and AI & GPU marketplace are designed to provide high-performance computing resources, making the platform attractive to government authorities, corporations, SMEs, and Web3 & blockchain companies. This infrastructure supports the long-term plan to scale up by building additional data centers globally.

  3. Governance and Staking: AITECH token holders have voting power proportional to the amount of tokens staked, allowing them to participate in DAO governance and decision-making processes. This decentralized governance model ensures that the community has a say in the project's direction.

These strengths position AITECH as a robust and innovative token in the AI and blockchain space, offering investors a unique opportunity to tap into the growing demand for AI services and infrastructure.

Artificial Intelligence Utility Token's risks

Artificial Intelligence Utility Token (AITECH) is a cryptocurrency that leverages artificial intelligence (AI) to enhance its functionality and value. While AI can bring numerous benefits to the financial sector, such as improved fraud detection and risk management, it also introduces unique risks and challenges.

Cybersecurity Risks

AITECH, like other AI-based financial services, is susceptible to cybersecurity threats and fraud. The increasing use of AI in financial services has led to a rise in AI-driven fraud and cyber threats, which can compromise the security and integrity of the token. These risks are particularly concerning as AI systems can be prone to manipulation and bias, potentially leading to unintended consequences.

Market Manipulation and Volatility

The decentralized nature of AI tokens like AITECH introduces risks of market manipulation and security vulnerabilities. Market manipulation can occur through various means, including price manipulation and volume manipulation, which can significantly impact the token's value. Additionally, the token's value can be volatile due to changes in market sentiment, regulatory environments, and technological advancements.

Regulatory Risks

AITECH operates in a rapidly evolving regulatory environment. As governments and financial institutions grapple with the implications of AI in finance, there is a risk that new regulations could negatively impact the token's functionality or value. Stricter regulations could limit the use of AI in financial services, potentially affecting AITECH's growth and adoption.

Bias and Inadvertent Errors

AI systems, including those used by AITECH, can be prone to bias and inadvertent errors. These biases can manifest in various ways, such as discriminatory lending practices or inaccurate fraud detection. If left unchecked, these biases can lead to significant financial losses and reputational damage.

Risk Assessment and Management

To mitigate these risks, it is essential for investors and users of AITECH to conduct thorough risk assessments and implement robust risk management strategies. This includes monitoring market trends, staying informed about regulatory developments, and ensuring that AI systems are designed and trained to minimize bias and errors.

In conclusion, AITECH, as an AI-based cryptocurrency, faces a range of financial risks, including cybersecurity threats, market manipulation, regulatory risks, and bias and inadvertent errors. Effective risk management and ongoing monitoring are crucial to navigating these challenges and ensuring the long-term viability of the token.

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Did Artificial Intelligence Utility Token raise funds?

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Artificial Intelligence Utility Token’s team

  • Paul Farhi: Paul excelled as an investor, turning his focus to Bitcoin in 2015. He began mining for Ethereum in 2017, bridged a key partnership between Solidus and Soft Galaxy, anticipated Ethereum’s major shift from proof of work to proof of stake, and started focusing on the Artificial Intelligence sector.
  • Adrian Stoica: Adrian, President of Optoelectronica and Founder of Soft Galaxy, drives global computing innovations. With vast expertise in AI, cybersecurity, and blockchain, he collaborates closely with governments, focusing on “techno-politics” and e-governance.

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