07/27/23

Top 10 Artificial Intelligence (AI) Cryptocurrencies

AI has taken the world by storm, especially in the world of crypto. But keep in mind that AI in cryptocurrency means something a little different than it does in other industries.

While AI is almost synonymous with computers doing the work of humans, when a cryptocurrency is AI, it simply means that AI algorithms are used to run the platform and keep it secure. There are likely still humans involved in development, AI is just used for blockchain actions or upkeep.

Whether you are considering buying an AI cryptocurrency or are simply just curious, read on to discover the top 10 AI cryptocurrencies as of July 2023.

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Top 10 AI Cryptocurrencies

1. The Graph (GRT)

The Graph is an advanced cryptocurrency protocol which runs on Ethereum, with an associated ERC-20 token called GRT. It is widely seen as a data collection/retrieval blockchain specifically for use with Ethereum.

The Graph is designed to power decentralized applications (dApps) by enabling efficient data retrieval through a GraphQL-based API. It allows developers to create and publish "subgraphs," which are specific datasets with custom indexing rules for a particular dApp. Subgraphs are used to index and organize data from blockchains, making it easier for dApps to fetch only the relevant information they need, without the need to process the entire blockchain.

The Graph aims to improve the overall efficiency and accessibility of blockchain data, which is crucial for the growth and development of decentralized applications.

2. SingularityNET (AGIX)

SingularityNET (AGIX) is an artificial intelligence (AI) blockchain project that aims to create a decentralized AI network. It was created by SingularityNET Foundation, led by Dr. Ben Goertzel and a team of AI researchers and developers.

SingularityNET aims to provide a platform where AI agents and algorithms can interact, collaborate, and transact with each other in a decentralized manner. The goal is to enable a global AI marketplace where developers can publish their AI services and algorithms, and other developers or users can access and utilize those services through the blockchain-based platform.

3. Ocean Protocol (OCEAN)

Ocean Protocol (Ocean) is a decentralized data exchange protocol built on blockchain technology. The project aims to enable secure, privacy-preserving, and efficient data sharing and monetization between providers and customers.

Ocean Protocol seeks to address the challenges associated with data silos and data privacy concerns by creating a decentralized ecosystem that allows data providers to share and sell data while retaining control over their data assets. Data consumers, on the other hand, can access and use the data through the Ocean Protocol network.

As the world grows to demand more and more data, Ocean Protocol hopes to evolve to meet the rising needs while also offering privacy—something which isn’t guaranteed with government or company provided data solutions.

4. iExec RLC (RLC)

iExec RLC (RLC) is a cryptocurrency and a decentralized cloud computing platform built on blockchain technology. iExec aims to create a marketplace where users can buy and sell computing resources and services.

The primary goal of iExec is to enable the sharing of computing power among users across the network. It allows individuals or organizations with excess computing resources (such as CPU or GPU power) to rent out these resources to others who need additional computational power for various purposes.

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5. Fetch.ai (FET)

Fetch.ai (FET) is a decentralized artificial intelligence (AI) and machine learning platform that operates on a blockchain network. It aims to create a decentralized digital world where autonomous agents (such as AI entities) can perform economic activities, interact, and collaborate with each other.

The Fetch.ai platform is built on top of a unique blockchain architecture that incorporates elements of directed acyclic graphs (DAG) and sharding to achieve scalability and efficiency. The combination of AI, blockchain, and multi-agent systems allows Fetch.ai to create a highly dynamic and adaptive ecosystem.

6. dKargo (DKA)

dKargo is a relatively new AI blockchain project which is designed to solve trust issues in the logistics industry. It provides and shares data, much like Ocean Protocol, but more geared to meet the needs of the logistics industry.

dKargo is still a new protocol, but it seems promising. It aims to remove the competition aspect from the logistics industry using AI algorithms to allow efficient data sharing in a way that wouldn’t undermine profits or a company’s bottom line.

7. Numeraire (NMR)

Numeraire (NMR) is a cryptocurrency and a unique blockchain-based project that focuses on machine learning and data science as it applies to investing. It was developed by Numerai, a decentralized hedge fund that aims to apply crowd-sourced AI and machine learning models to financial markets.

The primary objective of Numerai is to create a collaborative platform for data scientists and AI researchers to contribute their predictive models to the hedge fund. Participants are encouraged to develop machine learning algorithms that can predict financial market movements accurately.

Do note that this platform is predominantly a hedge fund, however, and any financial investment should be approached with absolute caution.

8. Artificial Liquid Intelligence (ALI)

Artificial Liquid Intelligence is a blockchain platform which combines the power of AI with the growing desire for NFTs. It creates digital avatars and then these avatars interact with users.

Think of it this way, it’s like ChatGPT but with a cute avatar you can interact with rather than a blank screen. While you might not see a use, many people have already invested in the project, obviously enjoying the more human-like AI interaction the platform provides.

This might also be the beginning of an AI robot revolution though, so proceed with caution and don’t fall in love with the AI bots.

9. Phala.Network

Phala Network is a privacy-focused blockchain project that aims to provide secure and confidential smart contract execution on a decentralized network. It focuses on protecting sensitive data while enabling developers to build decentralized applications (dApps) that require privacy features.

As of the writing of this article, it is marketed as a major competitor to Amazon AWS or Google Cloud, offering a more private and decentralized alternative to these two services.

10. Covalent (CQT)

Covalent (CQT) is a cryptocurrency project that aims to provide comprehensive blockchain data and analytics. It is designed to be a unified API that aggregates and indexes blockchain data from various blockchains, making it easily accessible for developers, investors, and other users.

Covalent's goal is to simplify the process of accessing blockchain data, which is often scattered across different networks and can be challenging to query and analyze. By offering a single API interface, Covalent enables developers to build applications and services that require blockchain data without the need to interact directly with multiple blockchain networks.

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