Launched in 2017 by Dr. Ben Goertzel and his team, SingularityNET quickly established itself as a leading platform for decentralized AI collaboration, offering a unique, open-source solution through its innovative AI marketplace technology.
Today, we will cover the following topics:
- About SingularityNET (AGIX)
- How does SingularityNET work?
- Key Features
- Technical Analysis
- Why is AGIX The Coin of the Week?
About SingularityNET (AGIX)
What is SingularityNET?
SingularityNET is a blockchain-based platform that democratizes AI by allowing developers to create, share, and monetize AI services.
Using the AGIX token, users can access over 70 AI services, including multilingual speech translators, voice cloning, and image recognition.
SingularityNET aims to be a key protocol for Networked AI and develop Artificial General Intelligence (AGI). The platform's user-friendly interface and demo functionalities make it accessible to everyone.
Founded by the creators of Robot Sophia, SingularityNET promotes decentralized, inclusive AI development and supports smart contracts for building AI products without intermediaries. It acts as a commercial launchpad for AI-based decentralized applications (dApps), enhancing interoperability between networks.
AGIX Token
AGIX ’s diverse roles within SingularityNET network include:
Blockchain Agnostic
AGIX is available on both Ethereum and Cardano blockchains.
Utility and Governance
AGIX serves as both a utility token for transactions within the SingularityNET ecosystem and a governance token, allowing holders to vote on platform development and features.
Staking Rewards
AGIX holders can earn rewards by staking their tokens, contributing to the platform’s growth and receiving recognition for their commitment.
Decentralized AI Ecosystem
AGIX promotes a decentralized AI ecosystem, fostering collaboration among developers, users, researchers, and creators to shape a shared AI future. AGIX holders have a tangible stake in this technological transformation.
Deep Funding Program
This program provides financial support to AI developers for creating innovative AI tools and services, promoting a decentralized and equitable AI landscape.
Ecosystem Airdrops
AGIX holders benefit from airdrops, receiving tokens from new projects within the SingularityNET ecosystem, promoting shared ownership and growth.
SingularityNET Ecosystem
SingularityNET is featuring products and projects from several key markets, such as DeFi, robotics, biotechnology, gaming, media, music, and Enterprise-grade Artificial Intelligence.
Some of these include:
Zarqa
Zarqa is a Neural-Symbolic Large Language Model (LLM) that blends large-scale deep neural network (DNN) models with advanced neural-symbolic artificial intelligence (AI) techniques to create a more powerful and versatile hybrid LLM.
NuNet
NuNet, a joint venture between SingularityNET and Ocean Protocol, aims to establish a decentralized network for training and deploying AI models.
This network allows developers to use data from various sources to train AI models while ensuring privacy and security.
SingularityDAO
SingularityDAO is designed to establish a decentralized autonomous organization (DAO) to oversee the SingularityNET ecosystem.
This initiative allows community members to engage in governance and influence the ecosystem's development.
Yaya Labs
Yaya Labs is a pioneering startup leading advancements in robotics and artificial intelligence (AI).
With a vision to transform the integration of technology into daily life, Yaya Labs focuses on creating innovative solutions that boost efficiency, productivity, and convenience across diverse industries.
How does SingularityNET work?
SingularityNET is a blockchain-based marketplace for artificial intelligence (AI). It allows developers to share and sell AI services through a decentralized platform. Anyone can join as an “AI agent,” performing tasks and communicating with others to share data.
AI agents execute smart contracts, acting as the primary nodes on the network. This setup enables users to access AI services at a lower cost compared to purchasing from large tech companies.
SingularityNET Components:
Registry
The Registry is a smart contract where AI developers describe their services. It includes text descriptions, pricing, and contact information, allowing users to find and access these services.
Users can search for AI services in the dApp marketplace, which retrieves service details from the Registry. The Registry also supports tagging and filtering of services.
Multi-Party Escrow (MPE)
MPE is a smart contract that manages payment transactions via an escrow account. It uses a unidirectional atomic payment channel to ensure quick and secure task completion.
The MPE functions as a wallet for depositing and withdrawing funds and as a payment channel between AI service providers and users. This channel enables off-chain transactions, reducing delays and maintaining security.
Daemon
The Daemon acts as an off-chain proxy for developers offering AI services. It manages interactions with other components, such as smart contracts and payments, validating user requests and ensuring transaction success.
The Daemon translates payment requests into AI-readable formats and handles functional tasks, allowing developers to focus on their AI services. Each AI service requires its own Daemon.
SDK
The SDK (Software Development Kit) simplifies integration with SingularityNET services. It provides tools for clients to make calls to AI services and includes modules for various programming languages, such as Java, Python, and NodeJS. The SDK helps automate client machine authorizations and interactions with the SingularityNET platform.
Key Features
SingularityNET offers several advanced features and applications that enable users to engage actively with the ecosystem:
Interoperability
The network interfaces with multiple blockchains and network infrastructures. The AGIX token streamlines transactions between AI agents and customers, regardless of underlying technology.
Scalability and Modularity
SingularityNET securely hosts private and public contracts, enabling the development of scalable, resilient applications with minimal transaction costs.
Flexible network capabilities allow for custom topologies, AI agent collaboration, and failure recovery methods.
Data Sovereignty and Privacy
User data control and sharing are enabled with privacy features, validated through smart contracts and blockchain technology.
AI Marketplace
A decentralized platform where users can buy and sell AI services. It allows developers and businesses to monetize AI algorithms and provides access to various AI technologies.
AI-as-a-Service
SingularityNET offers AI services for integration into applications and systems, including natural language processing, computer vision, and machine learning.
AI Developer Tools
Tools and resources such as SDKs, APIs, and documentation for building and deploying AI applications.
AI Research
A community for AI researchers to collaborate on cutting-edge projects, share work, and develop new AI advancements.
AI Publisher
Allows developers and businesses to build AI databases in one hub, facilitating easy querying, testing, and modification of products.
OpenCog Hyperon
A core project focused on developing Artificial General Intelligence (AGI) with scalable, open-source solutions.
AI Domain-Specific Language (DSL)
A self-organizing network of AI products that collaborate or outsource dynamically.
Technical Analysis
From a technical perspective, AGIX has been overall bullish, trading within the rising wedge marked in red.
For the bulls to take over long-term, a break above the resistance level, marked in blue at $1.025, is needed.
In such a scenario, a movement towards the $1.35 mark would be anticipated.
Meanwhile, as long as the lower red trendline holds, we will be looking for short-term trend-following buy setups.
Why is AGIX The Coin of the Week?
For this week, we've selected AGIX for its innovative approach to integrating artificial intelligence with decentralized technologies.
SingularityNET's decentralized AI marketplace democratizes access to AI services, making it a revolutionary solution for various sectors.
Moreover, from a technical perspective, it is currently retesting the lower bound of its rising range, providing us with an opportunity to capitalize on the upcoming bullish impulse movement.
Thanks for tuning in to this week's coin of the week! We appreciate your readership and enthusiasm for exploring the crypto landscape with us.
See you next week for another coin of the week! 🚀
.webp)
