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Artificial Intelligence (AI) is revolutionizing the crypto industry. Various unfinished projects are currently resurfacing and grabbing the industry’s attention. Some developers have even gone as far as to rebrand their crypto to grab the market’s attention. But is the AI hype real? What are the top 5 crypto AI tokens in 2024 that you should invest in?
By now, everyone is aware of ChatGPT. The ground-breaking AI chatbot alters the way we look at the future. Futures in which neural networks write, draw, code, and create all that we do – but more effectively – are among the uncharted territories.
Investors are enthralled by the potential of fusing blockchain with AI, two equally ground-breaking technologies. In this article, we’ll explore what are AI crypto coins, as well as the top 5 crypto tokens implementing AI.
What are AI crypto coins?
Artificial Intelligence is combined with the underlying technology in digital assets referred to as AI cryptos. These cryptos use AI algorithms to automate work, expedite business procedures, and provide traders with predictive data. Due to their advanced abilities, AI cryptos have grown in popularity among investors looking to profit from the crypto markets.
Cryptos with artificial intelligence capabilities can aid traders in making more educated trading decisions, perhaps resulting in wiser and more profitable trades. Additionally, it is well known that AI cryptos offer a better potential for returns than traditional cryptos. AI-powered crypto initiatives typically incorporate blockchain networks into their artificial intelligence networks.
AI-powered cryptos benefit both investors and developers by enabling more transparent, efficient business practices that could enhance earnings for traders and produce more secure applications for developers. With the help of AI, these cryptos could change the crypto industry. As a result, if you’re interested in profiting from this developing technology, you can consider investing in AI cryptos.
Top 5 AI Crypto Coins To Invest In 2024
#1 The Graph (GRT)
The Graph is open-source software that utilizes the Ethereum blockchain. The Graph was created to gather, process, and store various types of data for blockchain-based platforms. The Graph addresses itself as an “indexing protocol” for “querying networks like Ethereum and IPFS.” In general, The Graph intends to increase the accessibility of blockchain data.
The Graph was founded in 2018 by Jannis Pohlmann, Yaniv Tal, and Brandon Ramirez. The project’s token wasn’t made available on the mainnet launch until late 2020. As per the latest data, The Graph assists 31 Ethereum-based DApps in data retrieval, including Uniswap, Decentraland, AAVE, and Balancer. Developing DApps for The Graph requires using the Facebook-developed programming language GraphQL.
#2 Injective Protocol (INJ)
Injective is a blockchain built for finance. It is an open, interoperable layer-one blockchain powering next-generation DeFi applications, including decentralized spot and derivatives exchanges, prediction markets, lending protocols, and more.
Injective uniquely provides powerful core financial infrastructure primitives that applications can leverage, including a fully decentralized MEV-resistant on-chain order book. In addition, all forms of financial markets, such as spot, perpetual, futures, and options are fully on-chain. The decentralized cross-chain bridging infrastructure is compatible with Ethereum, IBC-enabled blockchains, and non-EVM chains such as Solana.
#3 Fetch.ai (FET)
Fetch.ai (FET) is an open and permissionless network that uses AI to build a decentralized machine-learning system to carry out blockchain tasks. Fetch.ai is essentially a blockchain-based AI network.
As an interchain protocol, Fetch.ai offers a free, open, and decentralized framework that utilizes the power of AI for implementing automated peer-to-peer applications without the need for human intervention.
Fetch.ai, launched in February 2019, aims to autonomously link devices and offer a platform for operating Internet of Things services through data exchange.
Fetch.ai aspires to offer a distinctive value proposition for diverse stakeholders, such as developers, financial service providers, and many other economic participants, by integrating cutting-edge technologies like Directed Acyclic Graph (DAG) and smart contracts.
#4 Ocean Protocol (OCEAN)
Ocean Protocol is an open-source protocol that promises to simplify data sharing and monetization for organizations and individuals. The protocol offers a dataset tokenization service, which converts data into ‘datatokens’ and stores them on the blockchain. The protocol runs on the Ethereum network. The process of data tokenization enables organizations, enterprises, and individuals to sell or exchange datasets on the data marketplace of Ocean. The use of blockchain technology ensures the security of every piece of data.
#5 iExec RLC (RLC)
iExec RLC represents a ground-breaking, decentralized project focused on developing a distributed cloud computing infrastructure driven by blockchain technology. This AI crypto project, started in April 2017, aims to provide users with a simple and safe marketplace where they can rent or share computing resources, like processing power and storage. iExec RLC democratizes access to cloud computing services by utilizing a decentralized architecture, encouraging improved creativity and efficiency in the sector.
Bottomline
There are a plethora of possible uses for AI in the crypto industry. By introducing novel protocols and features, AI has the potential to completely transform the industry, from building safer and more secure networks to offering predictive analytics services. AI will alter the way we think about crypto technology and its potential by enhancing everyone’s access to and efficiency with blockchain networks. AI will play a significant role in facilitating more trust and collaboration within the crypto sector as it continues to expand and adapt, thanks to its potent automation tools and intelligent analytics.
Frequently Asked Questions
How To Invest In Cryptocurrency Stocks?
Cryptocurrency can be purchased in two ways: through mining or exchanges. The process of confirming and adding transactions to the blockchain public ledger is known as cryptocurrency mining. Cryptocurrency exchanges are another option. Exchanges make money by charging transaction fees, but there are alternative platforms where you may communicate directly with other cryptocurrency traders.
How Cryptocurrency Works?
Cryptocurrencies use cryptography technology to keep transactions and their units (tokens) secure. Cryptocurrency works via a technology called the blockchain. A blockchain is a decentralized technology that handles and records transactions across numerous computers. The security of this technology is part of its value.
Is Ethereum Safe To Invest?
The Bitcoin market is unquestionably more volatile than the stock market. This may not be the market for you if you are incredibly risk-averse. Ethereum, on the other hand, may be a terrific investment for you if you're a diamond-handed investor who won't lose sight of short-term losses. Ethereum is a relatively safe investment as it is also based on blockchain.
What Are The Best Cryptocurrencies To Invest In?
The best cryptocurrencies to invest in would be the ones you study and analyze in detail. Some of the most popular cryptocurrencies include Bitcoin, Ethereum, and many altcoins such as Tron, Ripple, Litecoin, etc.
Is Bitcoin And Cryptocurrency The Same Thing?
Bitcoin is a cryptocurrency that was designed to facilitate cross-border transactions, eliminate government control over transactions, and streamline the entire process without third-party intermediaries. The absence of intermediaries has resulted in a significant reduction in transaction costs. Satoshi Nakamoto, the creator of Bitcoin, created the first cryptocurrency in 2008. It began as open-source software for money transfers. Since then, plenty of cryptocurrencies have emerged, with some focusing on specific fields.
What Is Cryptocurrency?
A cryptocurrency is a digital currency secured by encryption, due to which chances of activities such as counterfeiting and double-spending taking place get close to impossible. Cryptocurrencies get created on blockchain technology ( a distributed ledger enforced by a distributed network of computers). Cryptocurrencies are unique in that they do not get issued by any central authority. The term "cryptocurrency" comes from the encryption techniques used to keep digital currencies and the network safe.
Is crypto legal?
Crypto is legal in most countries, including India. While nations like the U.S. and many in Europe have regulatory frameworks, others like China have strict bans.
Is Cryptocurrency Legal In India?
In India, cryptocurrencies are legal; anyone can purchase, sell, and trade cryptocurrencies. They are currently unregulated; India does not have a regulatory framework in place to regulate its functioning. According to the Ministry of Corporate Affairs (MCA), companies must now declare their crypto trading/investments during the financial year, according to the Ministry of Corporate Affairs (MCA). Cryptocurrency transactions have been taxable in India when people receiving such gains are Indian tax residents or where the crypto is considered to be domiciled in India
How Many Cryptocurrencies Are There?
There are over 5000 other digital currencies available on the internet in addition to Bitcoins. The only problem is that they haven't gotten the users' attention. Besides Bitcoins, a few other digital currencies have gained popularity among users. It's been more than ten years since Bitcoins were first released, and now they've achieved new heights thanks to their phenomenal success.
What Is The Meaning Of Crypto?
A cryptocurrency is a digital currency that is secured by the process of cryptography, making counterfeiting and double-spending almost impossible to happen. Blockchain technology is used to produce cryptocurrencies ( a distributed ledger enforced by a distributed network of computers). Cryptocurrencies are distinct in that a centralized authority does not issue them.
Disclaimer: Cryptocurrency is not a legal tender and is currently unregulated. Kindly ensure that you undertake sufficient risk assessment when trading cryptocurrencies as they are often subject to high price volatility. The information provided in this section doesn't represent any investment advice or WazirX's official position. WazirX reserves the right in its sole discretion to amend or change this blog post at any time and for any reasons without prior notice.
