Artificial intelligence or AI Tokens has become a global phenomenon, reshaping various sectors. It fuels groundbreaking innovations like autonomous vehicles, instant language translation, and personalized recommendations.
The AI revolution has extended its influence into the realms of cryptocurrencies and blockchain technology. The distinctive capabilities of AI are now synergizing with the advantages offered by blockchain technology. As a result, a new breed of AI-powered cryptocurrency projects is rising, pushing the boundaries of what’s achievable.
Within this guide, we’ll look at the top 5 trending AI tokens on SunCrypto Application. Remember, these tokens are pioneers in the field of AI and blockchain, either directly implementing AI or offering the foundational infrastructure for other AI ventures.
What Are AI Tokens?
AI tokens are utilized to represent and motivate the advancement of artificial intelligence algorithms. These tokens are constructed upon blockchain technology, ensuring secure trading and transfers without the involvement of a third-party intermediary.
AI tokens are exclusively tied to the blockchain, meaning they can’t be converted or swapped for other digital assets like conventional cryptocurrencies. This distinct feature endows them with the potential to facilitate a wide array of transactions and open up fresh market opportunities.
AI tokens serve as an incentive for developers to generate inventive solutions using AI technologies. Developers stand to receive rewards when their algorithms find application in various contexts, such as machine learning-based predictive analytics, natural language processing, image recognition, and more.
These rewards encompass both direct monetary payments and token-based incentives, which can be redeemed for specific AI-related services or products within the AI project’s ecosystem.
AI tokens also empower users to make purchases from businesses that have integrated AI technologies into their operations. By offering new avenues for user adoption and monetization of AI applications, these tokens have the potential to transform how businesses engage with their customers and create novel revenue streams.
Top 5 Trending AI Tokens LIsted on SunCrypto
Let’s take a look at the top five trending AI tokens on the SunCrypto app. Based on your research, you can simply purchase these cryptocurrencies on SunCrypto in a few simple steps. Remember that these coins are only suggestions, and you should conduct your own research before investing in any cryptocurrency.
▪️ The Graph (GRT): The Graph is a decentralized protocol designed to facilitate the efficient querying of data from blockchains and decentralized storage networks by applications.
The key elements of The Graph protocol involve the utilization of a decentralized network of nodes for indexing and caching blockchain data, eliminating the necessity for dApp developers to establish their own centralized servers for data indexing and queries.
Additionally, it empowers network queries through GraphQL, a flexible query language well-suited for applications as compared to SQL. It employs an economic incentive model reliant on tokens, where nodes stake tokens to engage in indexing and serving query requests, while users compensate nodes with tokens for data queries. This incentivizes nodes to offer dependable and low-latency service.
The primary goal of The Graph protocol is to provide a decentralized infrastructure layer, enabling the creation of a new generation of data-intensive dApps, all the while removing their reliance on centralized servers.
Talking about the token’s market performance, the GRT token is currently trading at the price of ₹8.22, increasing by more than 22% in the past seven days with an average trading volume of ₹4.8 Billion.
▪️ Render (RNDR): The Render Network facilitates access to additional computational resources for the creation of intricate 3D graphics and animations. It serves as the bridge connecting individual artists and studios in need of extra computing power with those who possess unused computational resources on their personal computers.
Creators utilize RNDR tokens to compensate for the computational power they access, while Node Operators accrue RNDR tokens as a reward for contributing their computing resources. These transactions are meticulously recorded on a blockchain, ensuring transparent payment tracking and reputation scores.
By distributing rendering tasks across a multitude of computers, the Render Network enhances accessibility to top-tier 3D graphics and animations for Creators. It presents a decentralized alternative to centralized cloud computing services, promoting a more inclusive and distributed approach.
Talking about the token’s market performance, the RNDR token is currently trading at the price of ₹184.23, increasing by more than 48% in the past month with an average trading volume of ₹4.2 Billion.
▪️ Fetch.ai (FET): Fetch.ai is a company dedicated to crafting technology that empowers intelligent infrastructure and self-reliant economic entities. Their mission revolves around establishing a decentralized digital economy, wherein autonomous software agents can execute valuable tasks on behalf of individuals, groups, and Internet of Things (IoT) devices.
In pursuit of this vision, Fetch.ai has created an “autonomous economic agent” (AEA) framework. AEAs represent intelligent software agents capable of functioning independently to generate economic value for their proprietors.
The AEA framework is open source, enabling anyone to leverage it for constructing intelligent software agents. Its decentralized nature promotes interoperability among AEAs developed by various individuals and organizations.
Potential applications of AEAs encompass automated trading in financial assets, the exchange of IoT sensor data, enhancement of supply chains and logistical operations, as well as the creation of personal assistants and recommendation agents.
Discussing the market performance of the FET token, it is presently being traded at ₹25.12, having surged by over 36% over the last 7 days, and it maintains an average trading volume of ₹5.3 billion.
▪️ SingularityNET (AGIX): SingularityNET is in the process of constructing a decentralized network and marketplace designed for the provision of artificial intelligence (AI) services. The overarching objective is to enhance the accessibility and utility of AI for all. SingularityNET enables anyone to contribute their AI service to the network.
Within this network, services have the ability to invoke one another to request assistance and share data, facilitating the combination of their capabilities for addressing more intricate challenges. The network’s ambition is to cultivate an AI “global brain” that surpasses the capabilities of individual services.
The orchestration of these services is facilitated by smart contracts on the blockchain, enabling automated transactions based on predetermined rules. Users do not require prior authorization to participate in or utilize these services.
Concerning the market performance of the AGIX token, it is currently trading at 17.59, having increased by more than 25% in the previous 7 days, and it has an average trading volume of ₹3.4 billion.
▪️ Akash Network (AKT): Akash Network is in the process of establishing a decentralized platform for cloud computing resources, with the primary objective of enhancing the efficiency, affordability, and accessibility of cloud computing.
Akash enables individuals with available computer resources to participate as cloud providers within a marketplace. Businesses or developers seeking computing power referred to as tenants, can secure this computational capacity at significantly reduced rates when compared to conventional cloud service providers such as AWS or Google Cloud.
Through the establishment of a decentralized cloud computing marketplace, Akash strives to globalize and enhance the affordability, speed, and accessibility of cloud services. The utilization of cryptocurrency tokens serves to bolster security and incentivize network expansion.
In terms of market performance, the AKT token is presently trading at 79.18, up more than 20% in the last month, with an average trading volume of ₹250 Million.
Conclusion
The convergence of blockchain technology and artificial intelligence has given rise to a variety of AI-oriented cryptocurrency initiatives. These innovative tokens aspire to offer secure and efficient AI solutions within blockchain frameworks, leveraging the capabilities of both blockchain and AI to address specific digital challenges and create value.
Given the swift advancement of AI and blockchain technologies, these tokens may hold a pivotal position in the future landscape. Nonetheless, it’s crucial to emphasize that this compilation is the outcome of internal research, and potential investors should diligently conduct their own research before considering investments in cryptocurrency tokens.
To learn more about the trending AI Tokens on SunCrypto, go check out SunCrypto Academy.
Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. All content provided is for informational purposes only, and shall not be relied upon as financial/investment advice. Opinions shared, if any, are only shared for information and education purposes. Although the best efforts have been made to ensure all information is accurate and up to date, occasionally unintended errors or misprints may occur. We recommend you please do your own research or consult an expert before making any investment decision. You may write to us at [email protected].
