What is SingularityNET (AGI)?

SingularityNET (AGI) is a protocol and set of smart contracts built on blockchain technology with the purpose of creating a decentralized market for services related to Artificial Intelligence (AI). At SingularityNET, anyone can sell products and services created from their AI. Companies/organizations can buy and sell AI-related products on a large scale.

AGI coin is the main cryptocurrency of the system used to pay for purchases or services in the platform such as transaction fees, withdrawal fees, etc.

What is AGI token?

SingularityNET’s AGI token is an ERC20 token, but this is not always the case. Voting through the governance model will determine when the platform will move from Ethereum to another platform or even its own system. Agents mainly use AGIs to pay for AI services. However, tokens also give agents voting rights for a number of decisions that affect the platform.

Features of SingularityNET

A market for AI services: The system wants to bring the application of AI to the world quickly and simply. SingularityNET provides APIs to combine standard AI services, image processing, and language, forming smart contracts. Agents are entities that implement smart contracts on this platform.

A network of autonomous AIs: The SingularityNET system builds a network that helps perform complex AI Agent interactions using resources from the OpenCog Foundation. Sophia operates thanks to a combination of AI Agents from processing natural languages ​​to physical engines.

How does SingularityNET work?

SingularityNET is a complex project and very little known. Although it began working as AI-as-a-Service development, the team intends to develop the platform into a fully autonomous AI network. The AI ​​agents in this system will use AI technology to bring people together and work together to develop the network.

SingularityNET is trying to bring artificial intelligence to the world. Specifically, the team chose to focus on three different AI areas during the first two years of development:

  • Robot Cloud
  • Biomedical research
  • Network security

Team

SingularityNET is proud of its development team of 50 AI developers, including 10 PhDs. Leading the group is Dr. Ben Goertzel, he is a scientist as well as the CEO of the system. He is also the President of OpenCog and the Artificial Intelligence Association, along with many other leading scientists of Hanson Robotics, a partner company that helps SingularityNET grow.

Another key figure in SingularityNET’s team is Dr. David Hanson, founder of Hanson Robotics. He is also the host of Robotics Lead, who created Sophia, the most human-like robot to date. Sophia is also a proud member of the SingularityNET group.

Conclusion

SingularityNET uses high-tech systems and owns a professional staff; this is also the foundation for SingularityNET to reach further in the future. However, in this volatile cryptocurrency field, you should consider investing and researching the market in general and carefully studying the currency you want to invest in particular to make the right decisions.

You can check AGI price here.

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