Fetch.AI – FET
OpenAI is the perfect AI tech on Web2, but what about Web3?
We have Fetch.AI…
It’s only right that we take a deep dive…
This is a Project Review on FET.
FetchAI was founded in 2017 during a Binance Initial Exchange Offering (IEO) and later launched in 2019. It took a couple of years after launch before users discovered the ultimate power of the FetchAI ecosystem.
FetchAI is a decentralised, permissionless artificial intelligence network that is on a mission to pave a new way for machines and software agents to interact and provide services to independent users, companies or large entities.
The Fetch.Ai protocol utilises its superior AI technology to allow for automated Peer-to-Peer (P2P) decentralised applications (dApps).
The main question is, how does it all work?
The network runs on three core structures:
The Smart Ledger – This is the Fetch.AI main network that stores all transactional information and more. The Smart Ledger includes integrated AI technology based on verified DAG technology.
Autonomous Economic Agents (AEAs) – play a vital role in the ecosystem and are supported by The Smart Ledger. AEAs are independent agents that will proceed on behalf of any user, company or entity and will provide solutions to a variety of real-world problems.
Open Economic Framework (OEF) – This is the heart of the protocol that stores all the protocols, languages and market mechanisms which allow the agents to communicate and exchange information of any kind.
Why would we want to use FetchAI?
Well, they want to tackle technologies largest issues and implement futuristic ideas such as Smart Cities, transport, energy, smart homes and much more! Sounds like Alexa and Siri are planning a takeover…
The network has an incredible ecosystem of Fetch.AI-powered blockchain protocols, such as:
CoLearn – A marketplace that allows users to create AI models and monetise them and earn passive income from data/insights.
ATOMIX – This is a protocol specifically aimed towards users who provide liquidity for #stablecoins. ATOMIX offers incredible returns compared to its competitors.
AXIM – This protocol focuses on helping businesses grow, using data which is all possible with the AXIM tools.
AI will dominate all forms of technology, so we may as well use it to our advantage. Fetch.AI has the perfect suite of tools and applications and the native token that drives the entire ecosystem is the $FET token.
At the time of writing, the $FET token is sitting at a price of $0.42 with a market cap of $343M. The $FET token has seen an ATH of over $1.19 and reached a market cap of just under $700M and in my opinion, it could easily surpass it.
Twitter – @Fetch_AI
Website – https://fetch.ai/
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