ingularityNET is the ultimate decentralised AI Marketplace that was first founded in 2017 with the ultimate mission to merge the blockchain with artificial intelligence. Users, developers and businesses can utilise the amazing products and services listed on the marketplace.
What separates SingularityNET from every other AI protocol is AGI. AGI stands for Artificial General Intelligence and is the next generation of Artificial Intelligence technology. But, what’s the difference?
AI is a machine that requires human intelligence and can only complete a single and specific task. Whereas, AGI can understand and complete any amount of complicated or intellectual tasks.
Before we dive into what SingularityNET has to offer, we must understand how it works.
How does it work?
Simply put, there are key tools created by SingularityNET that allow for smooth and speedy integrations of AI services. The first is the Registry, where AI service providers will supply their details such as prices etc.
Secondly, we have the Multi-Party Escrow which is able to process fast and cheap transactions while holding payments from both parties e.g. the user and developer.
Finally, we have the Daemon which interacts with the Multi-Party Escrow to confirm that users have sufficient funds to complete the transaction and to validate the signature of the user.
Now, the moment of truth. What does SingularityNET have to offer?
SingularityNET Products
The powers are growing stronger. Supreme AI products are being developed at a rapid rate. So let us delve into the evergrowing list of SingularityNET’s products:
AI Marketplace & AI Publisher
Let’s start with the core of the protocol, the AI Marketplace & Publisher. The Publisher allows for the creation and management of AI services, while the Marketplace is a hub for users to explore, test and choose from a variety of AI Services!
AI Domain-Specific Language (DSL)
This is a network of AI agents that can work together to exchange data, negotiate payments, utilise AI services and much more!
AGIX Bridge and Staking
SingularityNET’s native token AGIX can be Vested in Staking sessions which supports the network and rewards you in more tokens. The bridge on the other hand allows you to move AGIX to and from compatible networks such as Ethereum and Cardano.
OpenCog Hyperon
Looking into the future, the SingularityNET team is working hard to implement OpenCog Hyperon, an open-sourced platform where unique AI strategies can merge and collaborate.
Such strategies include but are not limited to Neuro Symbolic AI, Machine Learning, Economic Attention Allocation and many more that we probably can’t even fathom! We have only experienced the tip of the iceberg when it comes to AI technology.
Visit the OpenCog Website here.
SingularityNET Ecosystem
Awesome is an understatement when it comes to the SingularityNET ecosystem. Let me share some of my favourite apps:
Twin Protocol
We all have wondered how much we could accomplish if we had a twin. Well, thanks to AI and the Twin Protocol, it is now possible! You can get your Virtual Twin to do all the work you hate doing!
Jam Galaxy
A decentralised hub for musicians from all backgrounds! Artists can earn, utilise AI music tools and so much more!
All of these dApps utilise AI technology through SingularityNET and there are many more that we did not dive into, but I will leave a link at the end of this article, so you can take a look for yourself!
AGIX Token
We briefly spoke about the native token, AGIX. I thought it would be best to outline the current utilities behind the superior AI token. AGIX is used to pay for services in the marketplace. It is used by AI Agents to interact with each other, as well as other protocols in the ecosystem.
As mentioned, you can vest and stake your AGIX tokens to help secure the platform and get rewarded for doing so. Finally, as SingularityNET prioritises decentralisation, Governance is crucial. AGIX holders can vote on any platform proposal!
How To Buy SingularityNET AGIX
There are three main ways to buy or hold AGIX, but either way, you will always go through a centralised excange (CEX). Here are the options:
Option 1- Centralised Exchange
The AGIX token is available on 99.99% of centralised exchanges.
We recommend getting Ethereum ETH using one of these centralised exchanges and then sending your ETH to a DeFi wallet where you can swap ETH for AGIX, which we will further explain in Option 2. Alternatively, you can use ADA and the Cardano network, which we go into more depth in Option 3.
If you are to choose a Centralised Exchange, here are our recommended options with some bonus rewards for signing up (T&Cs apply):
- Binance - The most popular CEX in the world
- ByBit - EARN UP TO $30K in DEPOSIT BONUSES
- BitGet - Trade on BitGet and receive 0% Deposit Cashback + $5,000 DEPOSIT BONUSES
- Coinbase - Spend $100 and Get $10 back!
Option 2 - DeFi Wallet & Decentralised Exchange
To get started you will need a DeFi wallet and make sure to secure your seed phrase with a hardware wallet (Trezor):
If you haven’t set up the Ethereum network or the Metamask wallet, follow our YouTube tutorials below. Here are the essential links:
You will be set up and ready to go in under 10 minutes!
Option 3 - Exclusive Cardano Wallet
If you are interested, you can use native Cardano wallets that are exclusive to the blockchain. You can hold, swap and earn using a Cardano wallet, some of which are Web extension wallets and some of which are Software wallets that require being downloaded.
To save you the hassle, we have an easy tutorial video on how to set up Cardano’s most popular Web Wallet, Typhon. You will also need to learn how to interact on the network, so we have a tutorial on how to use the MinSwap Decentralised exchange. Check out the links below!
Typhon Wallet Youtube Tutorial
Conclusion
Originally, SingularityNET was built on the Ethereum network but eventually partnered and integrated with the Cardano blockchain. Eventually, SingularityNET wants to become interoperable with every major network!
At the time of writing, the AGIX token is priced at $0.18 with a market cap of over $221M. AGIX once reached an ATH of around $1.86 and exceeded a market cap of over $600M. AGIX is the leader in Blockchain AI and could well achieve a multi-billion dollar market cap!
You might be amazed to know that the meaning of Singularity is to reach a point in time where technology can no longer be enhanced and exceeds the abilities of the human race. It is clear that Singularity can only be achieved with AI.
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