Fetch.ai - an artificial intelligence lab, building an open, permissionless, decentralized machine learning network with cryptoeconomics. Fetch.ai democratizes access to AI technology with a permissionless network where anyone can connect and access secure datasets by using autonomous AI to perform tasks that use its global data network.
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Description of Fetch.ai
Fetch.ai is an artificial intelligence laboratory in Cambridge. It creates a decentralized machine learning platform, based on a distributed ledger, that provides secure exchange, connection and transactions, based on any data around the world. The network runs on open source technology that any user can run to connect to the network.
In this network, a number of software agents represent their owners and act on their behalf. These autonomous agents work to deliver optimized services across ecosystems for the benefit of both providers and consumers. This system has great potential in many areas. Users of financial services can streamline trading, and energy grids can be smart gridded.
What problem does the project solve?
The Fetch.ai utility token was designed to find, create, deploy and train autonomous economic agents and is an integral part of smart contracts and oracles on the platform. Using FET, users can create and deploy their own agents on the network.
What are the advantages of the project:
| Tokens | Developers, by paying for FET tokens, can access machine learning-based utilities for training autonomous agents. Validation nodes are also enabled by staking FET tokens, which as a result makes it easier to validate the network and reputation. |
| Agent Framework | Provides modular and reusable components that help to build multi-agent systems. |
| Open economic structure | It provides agents with search and discovery functionality. |
| Smart contracts | A set of smart contracts that run on the WebAssembly Virtual Machine (WASM) to maintain an immutable record of agreements between agents. |
The Fetch.ai blockchain combines multi-party cryptography and game theory to provide secure, censorship-resistant consensus as well as fast chain synchronization to support agent applications. When it comes to the core components of the platform, there are moments where each participant is a learner in an experiment, representing a unique private dataset and machine learning system.
There is also a global market that is the result of a collective learning experiment where a machine learning model is taught collectively by the learners themselves. Next, the Fetch.ai blockchain comes, which supports smart contracts. They allow for coordination and control in a safe and controlled manner. Finally, there is a decentralized data layer, based on IPFS that allows the weight of machine learning to be shared among all participating learners.
Buying and selling FET token
Fetch.ai (FET) has a circulating supply of 746 million tokens as of February 2021 with a maximum supply of 1 billion FET. The leading cryptocurrency exchanges for trading Fetch.ai shares are currently:
- Binance;
- Mandala Exchange;
- KuCoin;
- Gate.io;
- Crypto.com Exchange.
Thanks to the use of blockchain technology, the network is completely decentralized. Additional security is provided by differential privacy, which helps to avoid exposing users' personal data sets when updates are created. Blockchain also supports a combination of multilateral cryptography and game theory, providing a secure and censorship-resistant consensus.