basic ideas

  • NEAR Protocol, Internet Computer, Artificial Superintelligence Alliance, Render, and Bittensor are blockchain projects that aim to make AI technologies more accessible and efficient.

  • These projects integrate AI in various ways, such as improving network performance, enabling autonomous agents, decentralizing AI training processes, and more.

  • The convergence of AI and blockchain in the crypto space is driving innovation and presenting new opportunities for decentralized applications, which can benefit a wide range of developers and users.

the introduction

The intersection of cryptocurrencies and artificial intelligence (AI) is one of the most exciting developments in the world of technology. As AI becomes more integrated into various sectors, there are a growing number of blockchain projects focused on leveraging AI to enhance their ecosystems.

This article will explore the top AI-based cryptocurrency projects by market cap. As of August 2024, the top 5 AI projects are NEAR Protocol (NEAR), Internet Computer (ICP), Artificial Superintelligence Alliance (FET), Render (RNDR), and Bittensor (TAO). Let’s take a closer look at each project and how they incorporate AI into them.

1. NEAR Protocol (NEAR)

Market Cap: $4.68 billion (as of August 2024).

What do you know about NEAR Protocol?

NEAR Protocol is a layer-1 blockchain designed to address the scalability issues common in popular networks like Ethereum. Launched in 2020, NEAR uses a unique sharding technique called Nightshade, which enables the network to process thousands of transactions per second by distributing the workload across multiple validator nodes.

This approach allows the NEAR Protocol to provide a highly efficient and scalable platform for decentralized applications (DApps). The NEAR Protocol also provides cross-chain interoperability through the Rainbow Bridge, allowing users to transfer assets between Ethereum and NEAR. Additionally, the NEAR ecosystem offers a layer-2 solution called Aurora, which enhances the network’s compatibility with Ethereum-based applications.

How does NEAR Protocol integrate AI?

NEAR Protocol integrates AI in several ways, particularly in smart contract execution and decentralized application development. AI is used to improve network performance by predicting and managing usage intensity, which increases transaction efficiency and reduces latency.

Additionally, NEAR is exploring AI-powered developer tools that help automate and simplify the process of writing and deploying smart contracts. This will make it easier for developers to build more sophisticated and reliable decentralized applications without requiring extensive knowledge of blockchain technology.

Learn more: What is NEAR Protocol (NEAR)?

2. Internet Computer (ICP)

Market Cap: $3.64 billion (as of August 2024).

What is Internet Computer?

The Internet Computer Protocol, developed by the DFINITY Foundation, is a blockchain project that aims to expand the functionality of the Internet by enabling the creation of all kinds of decentralized applications and Web 3 services.

For example, developers can use ICP’s multi-chain features and integrated tools to create channels on social media, enterprise-focused platforms, gaming, virtual reality, and more. While traditional blockchains typically rely on cloud services to run decentralized applications, ICP runs them directly on its decentralized network. This approach can provide better security, scalability, and efficiency.

How does ICP integrate AI?

AI plays a significant role in the ICP ecosystem by enhancing the capabilities of decentralized applications. ICP enables AI algorithms to be integrated directly into smart contracts and decentralized applications, allowing them to perform complex calculations and decision-making processes independently. This can be particularly useful in DeFi, where AI can be used to improve trading strategies, risk management, and even trading automation and financial services.

3. Artificial Superintelligence Alliance (FET)

Market Cap: $2.80 billion (as of August 2024).

ما هو Artificial Superintelligence Alliance؟

The Artificial Superintelligence Alliance (ASI) protocol founded by Fetch.ai, SingularityNET, and Ocean Protocol, is a strategic collaboration aiming to develop decentralized Artificial General Intelligence (AGI) and ultimately achieve Artificial Super Intelligence (ASI).

By leveraging Fetch.ai’s independent clients, SingularityNET’s open source AI initiatives, and Ocean Protocol’s secure data exchange framework, the ASI Alliance aims to accelerate AI research and innovation.

How does the Artificial Superintelligence Alliance integrate AI?

The platform’s autonomous agents are powered by AI algorithms that enable them to perform complex tasks such as negotiating contracts, optimizing logistics, and managing energy consumption. These agents can interact with each other and with the blockchain in real time, creating a dynamic and efficient marketplace for all types of data and services.

The ASI Alliance is committed to promoting decentralized AI by emphasizing open source solutions and fair distribution of AI innovations. This approach not only accelerates the growth of AI, but also ensures that a broad range of users benefit from these technologies.

Learn more: What is Artificial Superintelligence Alliance (ASI)?

4. Render (RNDR)

Market Cap: $2.04 billion (as of August 2024).

What is Render?

Render is a decentralized GPU rendering platform that aims to connect artists and digital studios with GPU owners who have spare computing power. The platform allows users to render high-quality graphics and animations using distributed GPU resources, making them accessible and affordable to creators.

By using RNDR tokens, the platform facilitates secure and automated payments through Ethereum-based smart contracts, enabling streamlined and transparent transactions between content creators and node operators. This decentralized approach not only reduces the costs associated with traditional centralized streaming services, but also opens up advanced streaming capabilities to a wider audience, including small studios, independent artists, and other creators who may not have access to expensive, high-end GPU hardware.

How does Render integrate AI?

The Render platform leverages AI to enhance rendering operations and improve the overall efficiency of its network. AI algorithms are used to optimize GPU resource allocation, ensuring that rendering tasks are completed as quickly and cost-effectively as possible.

Additionally, AI is being used in the rendering process itself to improve the quality of graphics and animation, especially in tasks such as image upscaling, texture generation, and real-time rendering. This makes it easier for artists to achieve professional-level results without the need for expensive hardware.

Learn more: What is Render (RNDR)?

5. Bittensor (TAO)

Market Cap: $2.03 billion (as of August 2024).

What is Bittensor?

Bittensor (TAO) is a decentralized, blockchain-based protocol that enables the creation of open-source neural networks powered by artificial intelligence. Unlike traditional AI models that are controlled by central entities, Bittensor aims to decentralize the training and use of AI, allowing any participant to contribute computing power and data to the network. This creates a global distributed AI network where contributors are rewarded with the TAO cryptocurrency for their participation.

How does Bittensor Protocol integrate AI?

The entire Bittensor protocol is built on artificial intelligence. It allows participants, known as miners, to provide valuable data and computing power to train AI models on the network. In return, miners are rewarded with TAO tokens based on the quality and quantity of their contributions.

Bittensor also integrates AI into its consensus mechanism. The network uses AI to evaluate contributions and ensure that rewards are distributed fairly based on the value they bring to the network. The idea is to encourage the use of useful data and computational resources, leading to the creation of more accurate and efficient AI models.

Closing thoughts

The fusion of AI and blockchain technology represents a new frontier in the world of technology, offering the potential for innovation and radical change. NEAR Protocol, Internet Computer, Artificial Superintelligence Alliance, Render, and Bittensor are some of the popular AI projects in the blockchain space, each with its own unique approach and design.

Disclaimer: This content is provided for general informational and educational purposes only, without any representations or warranties of any kind. It should not be construed as financial, legal, or other professional advice, nor is it intended as a recommendation for the purchase of any particular product or service. You should seek professional advice from professional advisors. If an article is provided by a third party, please note that the opinions expressed are those of the third party and do not necessarily reflect the views of Binance Academy. For more details, please read the full disclaimer here. Digital assets may fluctuate in price. The value of your investment may go up or down, and you may not get back the amount you invested. You are solely responsible for your investment decisions, and Binance Academy is not responsible for any losses you may incur. This article should not be construed as financial, legal, or other professional advice. For more information, please see the Terms of Use and Risk Warning.