Artificial Intelligence (AI) is the main moving power, that will help human civilization to excel to new heights in the future. AI is powering our technology enabling us not just to create new things, but also to improve everything that exists.
Wikipedia: “Artificial intelligence (AI) is intelligence demonstrated by machines, unlike the natural intelligence displayed by humans and animals, which involves consciousness and emotionality. The distinction between the former and the latter categories is often revealed by the acronym chosen. ‘Strong’ AI is usually labeled as artificial general intelligence (AGI) while attempts to emulate ‘natural’ intelligence have been called artificial biological intelligence (ABI).
Leading AI textbooks define the field as the study of “intelligent agents”: any device that perceives its environment and takes actions that maximize its chance of achieving its goals. Colloquially, the term “artificial intelligence” is often used to describe machines that mimic “cognitive” functions that humans associate with the human mind, such as “learning” and “problem-solving”. (Learn artificial intelligence from these free Harvard, MIT, and Stanford courses)
AI is a combination of different disciplines and techniques such as Machine Learning, Deep Learning, Computer Vision, Natural Language Processing, Reinforcement Learning, etc.
Now, alongside AI, there is another moving power in the world of technology. A power that represents the infrastructure on which the future AI-powered applications will run. This power is known as the blockchain.
Wikipedia: “A blockchain is a growing list of records, called blocks, that are linked together using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data (generally represented as a Merkle tree). The timestamp proves that the transaction data existed when the block was published in order to get into its hash.
As blocks each contain information about the block previous to it, they form a chain, with each additional block reinforcing the ones before it. Therefore, blockchains are resistant to modification of their data because once recorded, the data in any given block cannot be altered retroactively without altering all subsequent blocks.
Blockchains are typically managed by a peer-to-peer network for use as a publicly distributed ledger, where nodes collectively adhere to a protocol to communicate and validate new blocks. Although blockchain records are not unalterable as forks are possible, blockchains may be considered secure by design and exemplify a distributed computing system with high Byzantine fault tolerance.”
The blockchain is the foundation for the future financial system, being the backbone of cryptocurrencies.
Wikipedia: “A cryptocurrency, crypto-currency, or crypto is a digital asset designed to work as a medium of exchange wherein individual coin ownership records are stored in a ledger existing in a form of a computerized database using strong cryptography to secure transaction records, to control the creation of additional coins, and to verify the transfer of coin ownership. It typically does not exist in physical form (like paper money) and is typically not issued by a central authority.
Cryptocurrencies typically use decentralized control as opposed to centralized digital currency and central banking systems. When a cryptocurrency is minted or created prior to issuance or issued by a single issuer, it is generally considered centralized. When implemented with decentralized control, each cryptocurrency works through distributed ledger technology, typically a blockchain, that serves as a public financial transaction database.
Bitcoin, first released as open-source software in 2009, is the first decentralized cryptocurrency. Since the release of bitcoin, other cryptocurrencies have been created.”
Cryptocurrencies were interesting since their creation, but got popular recently, since many companies adopted them as a valuable currency that allows you to buy their products, and many influential people, like Elon Musk being obsessed with the whole crypto ecosystem, trying to pump up the prices to the crypto coin of their interest.
It is hard to determine how many coins are there, or how much the value is since the crypto coins are assets and their price constantly changes (sometimes even +40% or -40%) per day.
However, we all know that the current value is over $1 trillion.
The top 10 cryptocurrencies (based on the market cap value) at the moment of writing are:
- Bitcoin (Market Cap: $669B, Price: $39000)
- Ethereum (Market Cap: $316.3B, Price: $2523)
- Tether (Market Cap: $62.28B, Price: $1)
- Binance Coin (Market Cap: $59.41B, Price: $365)
- Cardano (Market Cap: $53.49B, Price: $1.55)
- Dogecoin (Market Cap: $46.73B, Price: $0.325)
- XRP (Market Cap: $43.14B, Price: $0.88)
- USD Coin (Market Cap: $23.11B, Price: $1)
- Polkadot (Market Cap: $22.66B, Price: $22.13)
- Uniswap (Market Cap: $14.95B, Price: $23.33)
In this article, you will see a list of the top 10 AI cryptocurrencies (at the moment of the writing of the article). I think that these crypto coins are the most important since they represent the future and inevitable merge of Artificial Intelligence and blockchain technology.
I’m also going to discover in which of these currencies I’ve invested so far and why is that. Keep in mind that I’m not recommending you invest and spend your money since I’m not an expert, this is just my opinion.
Top 10 AI Cryptocurrencies
As a main source of information, I’m using Coinmarketcap, since they are the best websites that track the live price of the coins in the crypto world, and are used by Binance, the most popular and biggest crypto exchange market in the world.
According to Coinmarketcap, there are 59, bigger AI-based cryptocurrencies, with Market Cap ranging from $131k up to $966.5M.
The Market Cap value of these coins, at the moment of the writing of this article, is $3.364B and the trading volume in the past 24 hours is $352M.
Ranked by its Market Cap, here are the Top 20 AI cryptocurrencies:
“The Graph is an indexing protocol for querying networks like Ethereum and IPFS. Anyone can build and publish open APIs, called subgraphs, making data easily accessible.
Subgraphs can be composed into a global graph of all the world’s public information. This data can be transformed, organized, and shared across applications for anyone to query with just a few keystrokes.
Before The Graph, teams had to develop and operate proprietary indexing servers. This required significant engineering and hardware resources and broke the important security properties required for decentralization.”
Market Cap: $966.5M
“The iExec network connects cloud resource sellers with cloud resource buyers, encouraging an ecosystem of decentralized and autonomous, privacy-preserving applications. This network aims at providing companies with scalable, secure, and easy access to the services, datasets, and computing resources they need.
iExec’s technology relies on Ethereum smart contracts and allows for a virtual cloud infrastructure that provides high-performance computing services on-demand. At iExec, we believe in a future of decentralized infrastructure and market networks, where big data and HPC applications, highly valued datasets, and computing resources (storage, CPU, GPU) will be monetized on the blockchain with the highest level of transparency, resiliency, and security. ”
Market Cap: $367.6M
“Ocean Protocol unlocks the value of data.
Data owners and consumers use the Ocean Market app to publish, discover, and consume data assets in a secure, privacy-preserving fashion. OCEAN holders stake liquidity to data pools.
Developers use Ocean libraries to build their own data wallets, exchanges, and more.
Ocean datatokens turn data into data assets. This enables data wallets, data exchanges, and data co-ops by leveraging crypto wallets, exchanges, and other decentralized finance (DeFi) tools.”
Market Cap: $332.2M
“Fetch.ai is building an open access, tokenized, decentralized machine learning network to enable smart infrastructure built around a decentralized digital economy.
Fetch.ai, a Cambridge-based artificial intelligence lab, is building a decentralized machine learning platform based on a distributed ledger, that enables secure sharing, connection, and transactions based on any data globally.
Fetch.ai’s network is based around an open-source technology that any user can run to connect to the network, giving access to the power of AI on a world-scale secure dataset, to carry out complex coordination tasks in the modern economy.”
Market Cap: $257.3M
“The Numerai Tournament is where you build machine learning models on abstract financial data to predict the stock market. Your models can be staked with the NMR cryptocurrency to earn rewards based on performance.
The staked models of Numerai are combined to form the Meta Model which controls the capital of the Numerai hedge fund across the global stock market.”
Market Cap: $237.5M
“SingularityNET lets anyone create, share, and monetize AI services at scale. The world’s first decentralized AI network has arrived.
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SingularityNET was born from a collective will to distribute the power of AI. Sophia, the world’s most expressive robot, is one of our first use cases.
SingularityNET is a full-stack AI solution powered by a decentralized protocol and the first and only decentralized platform allowing AIs to cooperate and coordinate at scale, removing one of the major limiting factors to AI growth today — the lack of interoperability — which severely restricts the ability to leverage the strengths and capabilities of individual AIs.
SingularityNET enables anyone to take advantage of a global network of AI algorithms, services, and agents. No longer must AI technology exist in silos, only capable of operating within a specific company, infrastructure, or industry.”
Market Cap: $195.3M
“Phala Network is a privacy-preserving cloud computing service, which offers computing power comparable to existing cloud services and protects the privacy of managed programs. Based on TEE-Blockchain Hybrid Architecture, developers can deploy confidential smart contracts running inside the TEE Enclaves in the CPU.
Phala is also based on Substrate, and will run as a parachain of the Polkadot ecosystem.”
Market Cap: $167.2M
8. PARSIQ (PRQ)
“Connect blockchain activity to off-chain apps and devices. Monitor and secure DeFi applications
Build custom event triggers and power real-time automations.
PARSIQ describes itself as a next-generation platform for monitoring and intelligence — offering analytics tools for blockchain technology across a plethora of industries. This enables users to track network activity in real-time, unlock new use cases for their application and create instant notifications. Smart Triggers can be used to react to events of interest on multiple networks. PRQ’s token contract was rolled out on Ethereum in 2019.”
Market Cap: $101.4M
9. Aion (AION)
“Aion is the token used to secure and access The Open Application Network (OAN). Launched in 2018 in Canada, The OAN is a public network available to everyone. Managed by The Open Foundation, a registered not-for-profit organization, OAN aims to give the public an environment to create Open Apps.
The main purpose of The OAN is to facilitate interoperability between different blockchains, thus allowing users and developers to create a variety of applications. By making the AION token the core of the network, OAN enables users to execute smart contracts, store data, and share it between different networks.”
Market Cap: $95M
“DxChain is a blockchain network designed to facilitate big data processing and machine learning. Beta-launched in 2018, DxChain’s main goal is to allow its users to safely exchange big data sets and potentially benefit from improved analytics based on this data.
DX token generation is based on the value and quality of data users submit through the platform.
With decentralized data storage, DxChain offers users a secure environment to perform machine learning experiments and tests. Blockchain technology also provides increased computational power for machine learning and big data processing.”
Market Cap: $73M
So, here is our list of the top 10 AI cryptocurrencies. You’ve seen their mission, you know that they are running on top of the best infrastructure and are paving the way to future smart societies.
My favorite AI coin is Fetch.ai (FET). It is very popular and has a huge following, and it is listed on Binance, where I buy most of my other coins.
As I’ve said, I’m not recommending you invest in these cryptocurrencies, I’m just stating my opinion, and just providing an alternative perspective to the crypto world, that concentrates on the mainstream coins.
Like with every post we do, we encourage you to continue learning, trying, and creating.