A Closer Look To SingularNET

SingularityNET is a decentralized market dedicated to Artificial Intelligence or AI. They are bridging the gap between the developers of AI and the companies that needs it.

The team behind SingularityNET working to develop the marketplace into an AI network that is entirely self-organizing. AI agents shall utilize AI to share work amongst each other and evolve together to further improve the network.

AI-As-A-Service Marketplace

This is where AI developers exchange their services and tools for a SingularityNET AGI token or other services and tools. These transactions are made simple by providing APIs with smart contracts for the standard AI services, like language and image processing.

These smart contracts are also used for other services like, matching advantageous pairing of exchanges between Agents. SingularityNET also uses DSOC democracy as a model in settling governance issues.

In the first two years of its development, the team has focused in three areas of AI, namely:

  • Biomedical Research
  • Cloud Robotics
  • Cyber Security

SingularityNET Agents in the platform are the entities that execute the smart contracts. After each exchange, the agents rank each other on a scale of 0 or 1. Agents give a ranking of 1 when the task and payment is marked as completed.

Other factors that affects the Agent’s ranking:

  • Benefit Ranking
  • External Validation
  • AGI Token Staking

Meet the Team

Dr. Ben Goertzel is the CEO and Chief Scientist of SingularityNET. He is also the Chief Scientist at Hanson Robotics, Chairman of Artificial General Intelligence Society and OpenCog Foundation. Hanson Robotics serves as the partner company for SingularNET

The Robotics Lead is Dr. David Hanson, who is also the founder of Hanson Robotics. Hanson Robotics is responsible for building Sophia, the most expensive humanoid robot.

The CTO of SingularityNET is Mr. Cassio Pennachin. Their team has over fifty AI developers up to this day. Sophia Hanson, also serves as the company’s Chief Humanoid.

The alpha version of the platform has already been released and an upcoming beta version could be expected in mid-year 2018.

Cryptocurrency Exchange

KuCoin has announced the inclusion of SingularityNET (AGI) to their list of tradable tokens, mid-January 2018.  During its introduction, the token price has risen from $0.54 to its highest rate of $1.85. The price has fallen since but it seems to settle at $0.43 in the month of February.

With the coming projects involving partnerships with other AI companies, AGI prices are most likely to rise. Another way for AGI to increase its price is through gaining more exchanges. But like any other cryptocurrency, they are vulnerable to price fluctuations due to the general market health.

The highest volume of AGI token can be traded with Ethereum and Bitcoin on KuCoin, and the second highest with Tidex.

Storing AGI

AGI can be stored in a wallet that supports ERC20. Depending on their success, SingularityNET may create their own or move to another platform chain, in the future. If this happens, you need to move your AGI tokens to their official wallet. Keep yourself in touch with the latest news from the team, just in case.

The SingularityNET project is very ambitious in combining technologies like the AI and blockchain. And still, they are in the path of developing the marketplace into a self-organizing AI network. They have made a huge noise in the community by garnering $36 million ICO in just about a minute of its launch.

When the team’s vision should come to fruition, it will create more opportunities for the AI industry to flourish.

Leave a Reply

Your email address will not be published. Required fields are marked *

%d bloggers like this: