Key points:

  • NEAR Protocol, Internet Computer, Artificial Superintelligence Alliance, Render and Bittensor are blockchain projects aimed at making AI technologies more accessible and efficient. 

  • These projects integrate artificial intelligence in a variety of ways, such as optimizing network performance, enabling autonomous agents, decentralizing AI learning processes, and more.

  • The combination of AI and blockchain in the cryptocurrency space is driving innovation and offering new opportunities for decentralized applications that can benefit a wide range of developers and users.

Introduction

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

In this article, we will look at the largest AI-related cryptocurrency projects by market capitalization. As of August 2024, the top 5 AI-related 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 it integrates AI.

1. NEAR Protocol (NEAR)

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

What is NEAR Protocol?

The NEAR protocol is a layer 1 blockchain designed to address the scalability problem commonly found in popular networks such as Ethereum. Launched in 2020, NEAR uses a unique sharding technology called Nightshade that allows the network to process thousands of transactions per second by distributing the workload across multiple validator nodes.

This approach allows NEAR to offer a highly efficient and scalable platform for decentralized applications (dApp). NEAR also provides cross-chain compatibility through the Rainbow Bridge, allowing users to transfer assets between Ethereum and NEAR. In addition, the NEAR ecosystem offers a layer 2 solution called Aurora, which increases the compatibility of the network with applications on Ethereum.

How does NEAR integrate AI?

The NEAR Protocol integrates AI in several ways, including smart contract execution and dApp development. AI is used to optimize network performance by predicting and managing traffic, which increases transaction efficiency and reduces latency. 

In addition, NEAR is exploring AI-based developer tools to help automate and simplify the process of writing and deploying smart contracts. They make it easier for developers to build more complex and reliable dApps without the need for in-depth 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 aimed at expanding the functionality of the Internet, allowing the creation of all kinds of dApps and Web3 services.

For example, developers can use ICP's multichain features and full-stack tools to create social media channels, enterprise platforms, games, virtual reality, and more. While traditional blockchains typically rely on cloud services to run dApps, ICP runs them directly on its decentralized network. This approach can provide better security, scalability, and efficiency.

How does ICP integrate AI?

AI plays an important role in the ICP ecosystem, empowering decentralized applications. ICP allows the integration of AI algorithms directly into smart contracts and dApps, allowing them to perform complex calculations and decision-making processes autonomously. This can be particularly useful in DeFi where AI can be used to optimize trading strategies, risk management

3. Artificial Superintelligence Alliance (FET)

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

What is the Artificial Superintelligence Alliance?

The Artificial Superintelligence Alliance (ASI), formed from the Fetch.ai, SingularityNET and Ocean Protocol projects, is a strategic collaboration aimed at the development of decentralized general artificial intelligence (from the English Artificial General Intelligence, AGI) and, ultimately, the achievement of artificial superintelligence (from the English . Artificial Superintelligence, ASI).

Leveraging Fetch.ai's autonomous agents, SingularityNET's open source AGI initiative, and the secure Ocean Protocol 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 contracting, 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 kinds of data and services.

The ASI Alliance aims to advance decentralized AI, emphasizing open source solutions and the equitable distribution of AI innovation. This approach not only accelerates the growth rate of AI, but also ensures that these technologies benefit more users.

Learn more: What is Artificial Superintelligence (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 digital artists and studios with GPU owners who have spare computing power. The platform allows users to render high-quality graphics and animations using distributed graphics processing unit (GPU) resources, making it more affordable for artists.

Using RNDR tokens, the platform provides secure and automatic payments through smart contracts on Ethereum, providing a simplified and transparent transaction process between artists and node operators. This decentralized approach not only reduces the costs associated with traditional centralized rendering services, but also makes advanced rendering capabilities available to a wider audience, including smaller studios, independent artists, and other creators who may not have access to expensive, high-end GPU hardware.

How does Render integrate AI?

Render uses AI to improve rendering processes and improve the overall efficiency of its network. AI algorithms are used to optimize the allocation of GPU resources, ensuring that rendering tasks are completed as quickly and cost-effectively as possible. 

In addition, AI is used in the rendering process itself to improve the quality of graphics and animations, especially in tasks such as image scaling, texture generation, and real-time rendering. This makes it easy for artists to achieve professional-level results without expensive equipment.

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 allows you to build an open-source AI-based neural network. Unlike traditional AI models that are controlled by centralized organizations, Bittensor aims to decentralize the learning and use of AI by allowing any participant to contribute computing power and data to the network. This creates a global distributed AI network in which participants are rewarded in TAO cryptocurrency for their participation.

How does Bittensor integrate AI?

The entire Bittensor protocol is built around AI. This allows participants, known as miners, to provide valuable data and computing power to train AI models on the network. For their part, miners are rewarded with TAO tokens depending on the quality and quantity of their contribution.

Bittensor is also integrating AI into its consensus engine. The network uses AI to evaluate contributions and ensure fair distribution of rewards based on the value they bring to the network. The idea is to encourage the use of useful data and computing resources, leading to more accurate and efficient AI models.

Results

The combination of artificial intelligence and blockchain technology is a new frontier in the world of technology that offers the potential for innovation and revolution. NEAR Protocol, Internet Computer, Artificial Superintelligence Alliance, Render, and Bittensor are some of the popular AI-related projects in the blockchain space, each with their own unique approach and design.

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