Top Five AI Coins & Crypto Guide

One of the hottest themes this year is artificial intelligence (AI), which has naturally affected the cryptocurrency market. What you need to know about the fad and a few of the most well-liked AI coins is provided here.

The cryptocurrency sector is renowned for its explosive movements, in which a number of projects take off and significantly exceed the rest of the market.

There have already been a couple of these in 2023, but one that jumps out appears to be a pattern involving initiatives that have been focusing on Artificial Intelligence-based solutions.

A closer examination of AI-related cryptocurrency projects finds that several of them have significantly outperformed the market as a whole, increasing their value by a sizeable margin.

The next section looks more closely at why this occurred, what caused it, and some of the most well-known crypto initiatives connected to it.

Let's start now.

Speedy Navigation

• Artificial intelligence (AI): What is it?
• ChatGPT Madness
• Tech Giants Spend a Lot of Money
• The Bitcoin Trend
• The top five AI cryptocurrencies

Artificial intelligence (AI): What is it?

First of all, the development of artificial intelligence is not a recent development. It's also crucial to remember that there is no agreement on what AI is, which makes it difficult to identify a use case from only one perspective.

Many believe that AI is a particularly important piece of technology that has the power to reshape our society.

Artificial intelligence, to put it simply, is the emulation of human cognitive functions by computer networks or other types of technologies. There are numerous applications, including voice recognition, processing of natural languages, expert systems, machine learning, and machine vision.

At the moment, AI systems typically operate by consuming vast amounts of labeled training data, examining this information to identify trends and specific correlations, then employing these correlations to forecast and draw conclusions.

This is the way that one of the more well-known AI programs, particularly ChatGPT, the OpenAI chatbot that recently swept the globe, operates.

ChatGPT Madness

As many businesses are developing their own artificial intelligence (AI)-related products, ChatGPT comes into play. A few months earlier, OpenAI's ChatGPT grew in popularity, notably within the bitcoin industry.

ChatGPT was the topic of discussion everywhere. Also, ChatGPT was being used by everyone. What then is it?

A chatbot model that can have natural conversations with users was trained by OpenAI. It is possible and comparatively simple for ChatGPT to respond to a variety of follow-up queries because of the discussion style itself. It even acknowledges its errors, disputes false premises, and rejects requests judged improper (a point of contention for many).

But why not query it directly?

At this point, things really began to heat up.

Tech Giants Spend a Lot of Money

Outside events frequently act as catalysts for crypto developments. In this specific instance, ChatGPT or other AI-based systems were overtaking more well-known brands. Microsoft, a powerhouse in technology, was one of them.

Trade Algo revealed that Microsoft has made a massive $10 billion investment in OpenAI, the company that created ChatGPT, on January 23rd, 2023. It should be noted that Microsoft had already made a $1 billion investment in OpenAI back in 2019.

Moreover, OpenAI disclosed that it trains all of its models using Azure, a cloud-based service provided by Microsoft. The company's ability to expand its own research was one of the key goals of the investment.

The Bitcoin Trend

Although the exact beginning of the AI movement in the bitcoin market is difficult to pin down, it was probably around that time.

Several cryptocurrencies with ties to artificial intelligence started to appreciate in value.

This resulted in the occurrence of initiatives that were highly dubious but just had "AI" in their names, as is almost always the case.

And while many major initiatives in the realms of cryptography and artificial intelligence are being actively developed with significant funding, many of them were (and still are) sinister; however, more on that in a moment.

Let's now examine a few of the most popular cryptocurrencies that use artificial intelligence.

The Top Five Ai Cryptocurrencies

The Diagram (GRT)

The Graph is an index system created specifically for querying networks like IPFS and Ethereum.

In other words, the Bored Ape Yacht Club NFT collection and other projects with intricate smart contracts like Uniswap store data on the Ethereum network. Reading anything but the most basic data straight from the blockchain is therefore quite challenging.

Without going into too much technical detail (which you can find here), The Graph resolves the difficulties with a decentralised protocol that is intended to index the network data and make it possible for effective querying to take place.

According to numerous accounts, The Graph essentially does for the internet what Google achieved for the internet using artificial intelligence.

From the start of 2023, its native cryptocurrency, which bears the GRT ticker, has experienced explosive growth.

SingularityNet (AGIX) 

SingularityNet has artificial intelligence at its foundation but is more of an ecosystem than a crypto project with a limited emphasis.

It is essentially a decentralized open platform for AI services that has been made possible by blockchain technology. Everyone with internet access is able to use the services that developers put on the network.Also, developers can charge for these services by using AGIX, the ecosystem's own coin.

To develop a "Artificial General Intelligence (AGI)" for a positive technological singularity, however, is the team's primary goal.

It's also important to note that the platform is built on the Ethereum and Cardano smart contract networks.

One of the top achievers in 2023 is AGIX.

Fetch.ai (FET)

In an effort to assist individuals in automating routine operations, FetchaiI presents a blockchain system that simplifies the use of artificial intelligence.

Fetch.ai aims to develop into an entirely open and permissioned network that employs AI to build a decentralised system that uses deep learning to carry out operations on the blockchain.

It is an interchain protocol that, in essence, uses artificial intelligence to develop automated P2P applications without the need for human intervention. It was established back in February 2019 through in an Initial Exchange Offering (IEO) on the Binance Launchpad.

The native token called FET serves as the foundation for the entire ecosystem. FET, which is presented as digital currency, serves as the ecosystem's main medium of exchange. You must pay using FET in order to take advantage of any of the paid services provided by Fetch.ai.

Oasis Network (ROSE)

A layer 1 blockchain, the Oasis network is intended to be flexible, scalable in a novel fashion, and privacy-focused.

Without delving into too much technical depth, the highlights of the technology stack are as follows:

• The execution layer is independent from the consensus layer. As a result, many ParaTimes may process transactions concurrently.

• The ParaTime layer has no central authority. Anyone can create their own ParaTime using this.

• The claim is that Oasis Network is designed to be more effective than parachains and sharding.

They refer to the execution layer as the ParaTime layer.

ROSE is the native cryptocurrency. Similar to the majority of AI-focused companies, it also experienced rapid growth around the start of 2023.

Creating "responsible AI primitives" and collaborating with "business professionals across many sectors to design and execute strong primitives for responsible AI" are the claims made by the team in an official blog post.

OceanProtocol (OCEAN)

Ocean Protocol is last but just not least on our list. This platform was created to link data producers and consumers in a market based on blockchain technology.

Its business model depends on a number of technological advancements, including as AI and tokenizing specific datasets and communication services so that data providers may quickly, simply, and profitably monetize their data. Consumers, on the other hand, have easy access to a wealth of important information.

OCEAN is the name of the coin that drives the ecosystem.