Citadel.one Overview: Fetch.ai
In this article, we are going to introduce you to the Fetch.ai network.
Fetch.ai is a Cambridge-based artificial intelligence lab building an open-access decentralized machine learning network for smart infrastructure.
Fetch.ai is delivering AI to the crypto economy. Autonomous Economic Agents, powered by artificial intelligence, can provide automation to decentralized systems that can serve the needs of a single user or aggregate millions of data points to provide timely and efficient information about the outside world. These agent-based systems provide greater flexibility, speed, and crypto-economic security than existing centralized solutions and represent the future of the industry. This technology enables the creation of personalized digital assistants that respond to a user’s needs to increase the efficiency, privacy, security, and convenience of their interactions with blockchain networks.
The Fetch.ai blockchain is an interchain protocol, based on the Cosmos-SDK, and uses a high-performance WASM-based smart contract language (Cosmwasm) to allow advanced cryptography and machine learning logic to be implemented on-chain. This also allows the Fetch.ai network to also serve as a layer-2 network for legacy blockchain networks and as an interchain bridge to the outside world.
The Project Development
Fetch.ai was founded in 2017 and the project has come a long way since then. In 2018 Useful Proof of Work/Consensus whitepaper was released and in 2019 alpha and beta test networks went live.
In January 2020 Fetch.ai mainnet went live. It supported services such as staking, governance, and identity that supports the deployment of agent application.
2021 was a massive year for Fetch.ai: the company concluded a number of strategic partnerships, and its native $FET was listed on HitBTC, Coinbase, and Binance. The year brought a lot of huge launches: AI Travel Agents, Mainnet 2.0, DeFi agents, Native FET Browser Wallet, CoLearn pAInt — the first NFT Machine Learning Platform, and more.
Fetch.ai Q1 — Q2 2022 roadmap is already released. “In 2022 we hope to take what we’ve created, make it more user-friendly, and accessible to everyone. We hope you’re ready to see the power of blockchain and AI at work” — Fetch.ai team.
The company was founded by Humayun Sheikh, Toby Simpson, and Thomas Hain. Fetch.ai includes an international team of engineers working on the convergence of blockchain, artificial intelligence, and multi-agent systems.
Humayun Sheikh, Co-founder & CEO. An entrepreneur, investor, and visionary. Founding investor in DeepMind. Founder & CEO of uVue & itzMe. Passionate about the future of the distributed economy. Focused on AI, machine learning, blockchain, and token-based economies.
Toby Simpson, Co-founder & CTO. Toby has thirty years of experience in software development with ten as CTO across three companies. He has built and directed many successful computer games across several platforms including producing the highly regarded Creatures series in the 90s and constructing a scalable shared virtual world architecture called Alice. He was one of the original developers at AI company DeepMind.
Thomas Hain, Co-founder & CSO. A professor at Sheffield and established scientist in advanced machine learning AI who bridges the real world and academia and is inspired by the opportunities AI brings to modern society.
The FET Utility Token is key to unlocking the Fetch ecosystem. It’s required to find, create, deploy and train autonomous economic agents and is essential for smart contracts, oracles and the transactions needed to deliver the new digital economy.
The 5 major usages of FET:
- This is an access deposit token that helps to connect agents and nodes to the network.
- An infinitely divisible FET coin is required for value exchange between two agents regardless of where they are sitting.
- Access to the digital world and access to the digital services provided by Fetch.ai is facilitated by FET.
- It enables access to a broad range of ML and AI tasks
- Operation costs in Fetch.ai are decoupled with FET
Find out where to buy FET
Fetch.ai is building an open access, tokenized, decentralized machine learning network to enable smart infrastructure built around a decentralized digital economy. It is seeking to bridge the cutting-edge of technological innovation with the products and services we use every day.
Fetch.ai is a world-changing project, a “decentralized digital world” where autonomous software agents act on the behalf of their owners, or themselves, to get useful economic work done.
The team is building technology for both today and tomorrow — a collective super-intelligence on top of decentralized economic internet built with a highly scalable next-generation distributed ledger technology. Combined with machine learning, this delivers the predictions and infrastructure to power the future economy.
For more information about Fetch.ai visit the company’s official website.
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