A New Era: The Rise of Artificial Intelligence Cryptos
Cortex, Vectorspace AI, Endor Protocol, Fetch.ai, Matrix AI, Numerai, Ocean Protocol, SingularityNET
Artificial Intelligence (AI) is hot. The market for AI technologies is flourishing. Beyond the hype and the heightened media attention, numerous startups and tech giants racing to acquire them, there is a significant increase in investment and adoption by enterprises. The rise of AI has the potential to be one of the most significant developments in human history. Investments in AI, machine learning and robotic process automation (RPA) technology are set to reach $232 billion by 2025, a new report from KPMG has shown. 63% of enterprises expect a significant change in their organizational performance based on their AI investments and initiatives. C-level business and tech executives interviewed by MIT have high expectations for AI making substantial contributions to their business.[1]
It’s no secret that Alphabet, Microsoft [MSFT], Facebook [FB] and Amazon.com [AMZN] are all spending big bucks on AI technology. The tech giants are putting AI in consumer products and services, such as voice-activated smart home devices. Artificial intelligence stocks though are more rare than you might think. Many companies tout AI technology initiatives and machine learning (ML). But there really are few — if any — public, pure-play artificial intelligence stocks. But, not so in the cryptocurrency industry.
With Bitcoin (BTC) being the best performing asset by far over the last year and over the last decade, making many early adopters overnight millionaires, more money is being injected into the cryptocurrency system. Keeping this and the upward trend in the AI industry in mind on one hand, and investors scrambling to keep up with a rapidly evolving and uncertain situation in the stock markets on the other, AI cryptocurrencies appear to have a high return potential. [2]
“Although the Bitcoin whitepaper is now almost 10 years old, we believe we are still early in the crypto movement. The infrastructure needs to be improved and the applications are difficult for non-early adopters to use. Many crypto applications still get dismissed as toys. We believe this will change quickly.”
“We are huge believers in the power of AI to transform business: We’ve put our money behind that thesis, and we will continue to invest heavily in both applied AI companies and AI infrastructure.” — Andreessen Horowitz, a16z.com
Andreessen Horowitz (a16z) is a venture capital firm in Silicon Valley, California, that backs bold entrepreneurs building the future through technology investing in seed to late-stage technology companies, across the consumer, enterprise, bio/healthcare, crypto, and fintech spaces. a16z has $12B in assets under management across multiple funds, including the $1.4B Bio funds, the $865M Crypto funds, and the Cultural Leadership Fund.
Paying attention to big trends in the AI space can help investors estimate where the market might wind up and have you better positioned to select winners in the space. Investors should keep an eye on the tech trends detailed below and have an understanding of which cryptocurrency companies are leading them.
So let’s take a look at those promising AI companies within the crypto sphere, starting with a brief intro to each one of them. Scroll down for more detailed info.
Cortex (CTXC) is an open-source, peer-to-peer, decentralized blockchain platform that supports Artificial Intelligence models to be uploaded and executed on the distributed network. Cortex provides an open-source AI platform to achieve AI democratization where models can be integrated easily in smart contracts and create AI-enable decentralized applications (DApps).
Vectorspace AI (VXV) invents systems and datasets that mimic human cognition for the purpose of information arbitrage and scientific discovery (high-level AI/NLP (Natural Language Processing)/ML (Machine Learning) for Genentech, Lawrence Berkeley National Laboratory, the U.S. Department of Energy (DOE), Department of Defense (DOD), NASA’s space biosciences division, DARPA, and SPAWAR (Space and Naval Warfare Systems division of the U.S. Navy) among others.
Vectorspace AI is particularly interested in how to get machines to trade information with one another or exchange and transact data in a way that minimizes a selected loss function.
Their objective is to enable any group analyzing data to save time by testing a hypothesis or running experiments with higher throughput. This can enable investors predicting future correlations by identifying information arbitrage opportunities and capture alpha, increase the speed of innovation, novel scientific breakthroughs and discoveries.
Endor Protocol — According to their website, Endor Protocol (EDR) “After years at MIT, […] invented the ‘Google for predictive analytics’, providing automated accurate predictions, fast, with no data science expertise required.” This is achieved through the Endor Protocol token, offering what’s touted to be the world’s first automated, self-served, predictive platform allowing business users and hobbiest crypto-token holders alike to ask complex predictive questions and obtain high-quality results in minutes.
Fetch.ai (FET) has created an Open Economic Framework (OEF) that serves as a decentralized search and a value exchange platform for various autonomous economic agents. This is supported by a smart ledger that can reportedly support more than 30,000 transactions per second, and which is intended to meet the demands of the next generation of connected devices. Fetch.ai has digital intelligence at its heart: it aims to deliver actionable predictions, instant trust information, enable the construction of robust collaborative models, and improve efficiencies and streamlining processes.
Matrix AI is an open-source, distributed computing platform and operating system that melds artificial intelligence and blockchain. The project aims to enhance the speed, flexibility, security, and ‘intelligence’ of blockchains. It is purportedly able to support 50K transactions per second and uses a Hybrid PoS+PoW consensus mechanism. The consensus mechanism makes use of value-added computation through the use of the Markov Chain Monte Carlo (MCMC) computations. MATRIX Intelligent Contracts use Natural Language Programming and adaptive deep learning-based templates to auto-code. MAN tokens are mined and used to power real-world applications.
Numeraire — In 2017, Numerai released a new API that allows people around the world to submit predictions from machine learning models to power their hedge fund. In 2018, Numeraire token was created to bring more value to the network. Every user on Numerai has an opportunity to stake NMR tokens on their predictions as a way to express the confidence they have in their model. If their predictions are good, they earn money and their NMR is returned. If their predictions are poor, their NMR is destroyed. The most important usage metric for us is whether the biggest earners of NMR are also the biggest stakers i.e. the whales are the users. And this is exactly what is happening on Numerai.
Ocean Protocol describes itself as a decentralized data exchange protocol that lets people share and monetize data while providing control, auditability, transparency, and compliance to all actors involved. Operating from a time-tested Ethereum blockchain, there is now more incentive for data generators to share theirs because of an incentivizing model in place. There is also staking in place to “signal quality, reputation and ward against Sybil Attacks”.
SingularityNET was developed to serve as a marketplace for AI services made accessible through the blockchain. From individual algorithms & standalone AI applications to machine learning or model training, these services would be offered to satisfy demand for AI among various communities. The long-term goals of the SingularityNET team include building an ecosystem of AI Agents that would interact with one another using resources from the OpenCog Foundation and help people to create, share, and monetize AI services at scale over a decentralized network.
More details on each crypto:
CORTEX (CTXC)
- the only public blockchain that allows the execution of nontrivial AI algorithms on the blockchain
To learn more about $CTXC, visit an official website.
Source: Coingecko
MRT & CVM R&D
1. Implemented all operators of OpenCL in FPGA and successfully ran 8 models on FPGA hardware; all operators have passed the unit test.
2. For MRT, added pre-quantization model, including but not limited to SSD, Tensorflow Lite model support.
3. For MRT, fixed clip operator’s quantization precision error.
4. For Z3 Prover, continued to verify the CVM-Runtime operator; currently, it has verified 26 operators, including the newly added matrix product operator.
5. Continued to advance the CVM-Runtime Formalization code; at present, 11 operators have been rewritten and the code readability, robustness and reusability have been continuously verified.
Cortex Full Node Development
1. Database releaser code optimization; some coroutine logic optimization.
2. Optimized full node log output and updated TSDB source.
3. Adjusted the main code structure and API of the file system.
4. Developed chain-ai-demo, fully optimizing the user’s process of using Cortex full nodes.
DeFi Development
1. Developed more callable interfaces for DeFi contracts, including the real-time balance and balance change / growth of each project in the user portfolio; real-time parameters of each project.
2. Developed cross-chain Oracle for DeFi contracts, also including the link port for AI inference results for cross-chain Oracle.
3. Improved the two-way cross-chain test between the DeFi contract and the AI Portfolio model.
Community Updates
- The WoolyPooly mining pool has added PPLNS mode and SOLO mode, and the computing power has rapidly improved; now it has jumped to become the third-largest mining pool of the CTXC network.
- Cortex technical documentation editing.
- Cortex-related design orders.
- Preliminary framework discussion for Cortex’s new column.
- Offline meeting with DApp developer teams to discuss cooperation.
- Translation, original community introductory content, mainly in the field of DeFi.
To join their Telegram: Link
Vectorspace AI (VXV)
- Context Controlled On-Demand Correlation Matrix Datasets for Hidden Relationship Detection in Data & Training in Artificial Intelligence (AI) Systems
To learn more about $VXV, visit the official website.
“While ‘data’ might be the new oil, the ‘dataset’ is the refined petroleum that powers every Machine Learning (ML) and AI operation.” Link
“At the core of every active investment manager is the goal to generate alpha for their clients. As technology and data evolve, firms that keep pace, or lead, in the application of new approaches open up the opportunity to outperform. The rate of data creation is growing exponentially, and firms that transform data into fuel for investment insights will improve their opportunity for alpha.” — Deloitte Link
Vectorspace AI enables data, ML and Natural Language Processing/ Understanding (NLP/NLU) engineers, investors and scientists to save time by testing a hypothesis or running experiments faster to achieve an improvement in bottom line revenue and information discovery. They build datasets which enable hidden relationship extraction and evidence networks for Life Sciences/Pharma (COVID-19) and the financial markets.
Get an alert, discover hidden relationships, identify information arbitrage opportunities and capture alpha. Extract relationships based on sympathetic, symbiotic, parasitic or latent entanglement.
Examples: https://vectorspace.ai/examples/
Their approach is strategic, driven by top tier partnerships. Vectorspace AI is focused on quality rather then quantity. Their partnerships include Amazon, Microsoft, Elastic NV, and CERN ( the European Organization for Nuclear Research, one of the world’s largest and most respected centres for scientific research).
Latest press release: “COVID-19 Drug Repurposing Datasets Now Available in Collaboration with Vectorspace AI, Amazon & Microsoft” Link
“We are happy to be working with Vectorspace AI based on their most recent collaboration with us based on the article we published titled ‘Generating and visualizing alpha with Vectorspace AI datasets and Canvas’. They represent the tip of the spear when it comes to advances in machine learning and artificial intelligence. Our customers and partners will certainly benefit from our continued joint development efforts in ML and AI,” Shaun McGough, Product Engineering, Elastic.
Use case: ‘Generating and visualizing alpha with Vectorspace AI datasets and Canvas’ Link in collaboration with Elastic NV [ESTC], a $6 billion dollar publicly traded company.
Vectorspace AI recently launched a COVID-19 dataset builder [Link] enabling any researcher, scientist or other individual to build their own customized dataset related to COVID-19. Research groups can, e.g. correlate drug compounds with infectious diseases in the context of COVID-19 (“context controlled”) allowing them to view the vector of one drug and find a cluster of similar drugs for possible repurposing or generating a new hypothesis or discovery.
They recently announced on their Telegram channel plans to launch an exclusive investment club offering to their community. This is a perk that can improve anyone’s portfolio during times like these.
By joining the investment club investors get access to Vectorspace AI’s short baskets on events in the traditional markets and long baskets on the crypto side. Those baskets will be generated by Vectorspace AI, based on their algorithms and the signal. The minimum investment amount is $500 to get on the list. When you join an investment club, you can avoid the fees and commissions of investment advisors or stockbrokers. And of course, there’s the potential that the synergy of the investment club can translate into higher returns than you could have achieved on your own. An additional benefit of being a member, next to profit and education, you get to participate in a significant way to contribute to a great cause of fighting COVID-19. As far as I know the team is currently still gathering applications from interested individuals.
Curious about Vectorspace AI? Click here to take a deeper look Link at the project: https://medium.com/@492727ZED/a-deep-dive-on-the-cryptocurrency-vectorspace-ai-vxv-5fae8f53c11d
Source: Coingecko
To join their Telegram: Link
Endor (EDR)
- is the world’s first predictions engine that empowers business and individuals with AI-powered predictions
To learn more about $EDR, visit an official page.
Source: Coingecko
- COVID-19 Outbreak Week-by-Week Prediction by Dr. Yaniv Altshuler and Prof. Alex Pentland at MIT and Endor.com
(No recent updates were disclosed)
To join their Telegram: Link
Fetch.ai (FET)
- a decentralized connectivity platform that enables devices to connect directly with digital agents delivering autonomous solutions to complex tasks
To learn more about $FET, visit an official page.
Source: Coingecko
- Get ready for Round 8 of the Fetch.ai staking program. Successful participants will receive $FET tokens. Put a note in your calendar: the next bidding phase will take place between 12–3pm UTC on Tuesday 26 May.
- Fetch.ai team got near to the top of the leaderboard in GoZ.
- Find out what Fetch.ai has in store for the rest of 2020 by checking out the new roadmap here.
- Special Report: The Transformative Impact of IoT by William Smith.
IoT-enabled smart devices are becoming an ever more present part of our lives, whether that’s the smart speakers in our homes or the many more unseen ways IoT is impacting the products we buy and the ways we consume them.
Use case: https://fetch.ai/use-cases/
To join their Telegram: Link
Matrix AI (MAN)
- is an open-source, distributed computing platform and operating system that melds artificial intelligence (AI) and blockchain.
To learn more about $MAN, visit an official page.
Source: Coingecko
- Matrix AI community manager, Joey, is building this amazing website for the community, with everything you need to know about the Matrix AI included. It will be launched soon.
This patch will bring the following changes to Matrix AI Network:
1. Adjustments to the penalty policy;
2. Adjustments to the difficulty algorithm;
3. More search space for POW mining;
4. Bug fixes
You may check out Matrix Mainnet Update Notice for more information.
There are 400 million MAN tokens in total in the pool of Matrix AI Network. By the time the 3 millionth block is generated (estimated to happen in mid-May), the output will be reduced, and mining profits are expected to drop to 85% percent of the original. Like with Bitcoin and other cryptocurrencies featuring PoW mining, MAN output is designed to gradually decrease in order to bring up production cost and the value of MAN. This will also help boost MAN’s circulation in the market. Meanwhile, compared with Bitcoin, Matrix has adopted a smoother reduction curve and a rising price model for MAN.
In the current model, the total mining output will cap at 320 million. The remaining 80 million will be used for rewarding both the consumers and the providers of computing on the Matrix Computing Platform.
To join their Telegram: Link
Numeraire (NMR)
- world’s first hedge fund with its own distributed research platform designed specifically for AIs.
To learn more about $NMR, visit an official page.
Source: Coingecko
With this release, users can quickly add (or absorb) up to 10 models to a primary account and easily manage submissions and stakes on a consolidated models management page
Multi-model account support does have some important implications that users need to understand before enabling — especially for compute/API users — so it is disabled by default. To enable it, visit the new Models management page and click the Enable-Multi-Model-Support button.
- Richard Craib, the founder of Numerai, tweeted:
Sometimes the best user feedback is positive feedback: “Love what you’re doing with this. Love the mission, love the design, love the brand, love the culture.”
For those who haven’t been following along, MMC is a new alternative payout system that rewards users not only for performing well, but also for being unique and finding signal that most other participants didn’t find. Depending on your model, it could boost payout consistency and/or returns significantly.
- Crypto Conversation: For Numerai, Trust Is More Than a Token Gesture — Flipside Crypto talks about the hottest news in cryptocurrency this week, the Numeraire token, NMR.
To join their Telegram: Link
Ocean Protocol (OCEAN)
- a decentralized protocol and network of AI data/services
To learn more about $OCEAN, visit an official page.
Source: Coingecko
- MIT Tech Review highlights Ocean as secure and privacy-preserving data-sharing solution in their latest Global AI agenda report covering Asia-Pacific. The authors found that the region is an early adopter & leads the world in AI deployment.
- $OCEAN is now listed on Uniswap Protocol. You can swap, send, or pool your tokens now using the automated liquidity protocol.
- V2 Ocean Compute-to-Data Release — Unlocking Private Data while Preserving Privacy. Compute-to-Data enables developers to quickly build marketplaces. Also AI practitioners & data scientists can access valuable, private data which leads to more accurate AI models. More accurate AI means better technology and innovation to benefit society. Ocean Compute to Data launched on 19th May, and they’re introducing two new components to the tech stack:
- Operator Service manages the workflow and execute requests
- Operator Engine orchestrates the compute infrastructure
An event dedicated to this new release:
June 3rd, 2020 — Demo Day
- Read about it more precisely in a Technical Guide to Ocean Compute-to-Data, in an overview of the v2 release.
- Podcast: Building a New Data Economy with Blockchains, Trent McConaghy of Ocean Protocol by Founders of Web 3
Trent McConaghy, is not only one of the early blockchain entrepreneurs founding several startups in the space, most recently Ocean Protocol, a decentralized data marketplace that enables a New Data Economy but an AI founder who enjoyed a big exit. He explains how Ocean can break down entrenched data silos across industries and allows for the gains of Big Data and AI to be more evenly distributed across society. As the founder of the global token engineering community they talk about why the principles of ‘engineering’ are critical to building safe infrastructure for a new multi-billion dollar digital economy centered on Web 3.
- Demystifying Data Trusts and Collective Consent in the world of Data Privacy — Anouk Ruhaak, Mozilla, and AlgorithmWatch Fellow, on the future of data.
In a conversation with Ocean team, Anouk makes the case for collective consent and questions the full impact of individual content in data regulations, talks about how Data Trusts can help in building another layer of protection over data rights and challenges the need to build a contact tracing app during the time of COVID 19 pandemic. In the article above, you can find a quick look at the key takeaways and edited excerpts from the podcast.
To join their Telegram: Link
SingularityNET (AGI)
- lets anyone create, share, and monetize AI services at scale
To learn more about $AGI, visit an official page.
Source: Coingecko
- Aigents® Sentiment Detection for Personalised News Feeds — Sifting through a sea of information to bring you only relevant topics of interest. In the latest Aigents 2.7.0 release, they have made programmatic sentiment assessment available for news topics. Positive or negative sentiment is identified per news item based on dictionaries of context-less sentiment-specific N-grams, where positive and negative sentiment values are inferred for every topic corresponding to specific news items.
(Watch Aigents® sentiment analysis for news items and topics evaluating positive, negative and overall sentiment while monitoring online media and social networks — presented by Anton Kolonin)
- CoVIDathon Webinar Series — The Decentralized AI Alliance, supported by SingularityNET and Ocean Protocol, is bringing together global AI and blockchain projects and developers to develop and launch open-source code using AI and/or blockchain to combat COVID-19, reduce risks from future infectious outbreaks, and cope with the COVID-19 pandemic situation. The short series of educational webinars are meant for both technical and nontechnical audiences about some of the most important topics surrounding the challenges in Hackathon: To start it off:
- SingularityNET partnered with Arizona State University’s Lightworks® Innovation Accelerator to collaborate on projects in support of renewable energy and the pursuit of a zero-carbon environment.
- Generation Crypto shared Top 10 Low Cap Blockchain Projects by Github activity in the last 30 days. They decided to consider projects with a market cap of less than $20 million, in order to determine the most active development teams. SingularityNET was featured.
- Ben Goertzel: I’m just another neuron in the goddamn global brain — read an article where Dr. Ben Goertzel shared his essential thoughts.
“The beauty of being a neuron in the global brain is that the global brain is an open-ended intelligence — the exact opposite of the stilted, constrained reinforcement learning AIs so popular among Big Tech AI teams today. It’s evolving in ways that nobody, including it, can predict — and redefining itself and expanding its boundaries with every step. An open-ended intelligence tends to grow best with components that are also open-ended intelligences.”
- AI Can Help To Inform Coronavirus Policy — An Interview with Dr. Deborah Duong, Director for AI Development at Rejuve and Director of Network Analytics at SingularityNET and Dr. Ben Goertzel, founder of SingularityNET.
To join their Telegram: Link
Disclaimer: This article is not meant to give financial advice but solely represents my personal opinion. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.
