AI cryptos is the latest craze in the cryptocurrency market. This trend caught the attention of developers as the AI sphere continues to aggressively expand, getting into the spot of light. Many builders now are doing their best to create coins focused on the AI world to combine the nascent artificial intelligence technology with the blockchain space.
There areas that AI coins are usually focused on include AI marketplaces, where devs offer AI services to clients, machine learning platforms, etc. They can also work with decentralized AI model training, predicting stock market prices via AI models.
There are many coins focused on AI these days. Below, we will discuss five largest of them in terms of their market caps.
Five largest AI coins in the market
NEAR Protocol (NEAR)
This is a decentralized platform for developers who build decentralized applications and create smart contracts. Even though NEAR is not focused on AI directly, still, it provides the necessary infrastructure for AI-driven apps that operate in decentralized environments. It allows dapps to integrate AI models for data processing, machine learning applications, and automation.
Among its key features are a unique sharding mechanism called “Nightshade” which ensures efficient scaling and lets more nodes become part of its network. The NEAR platform gives developers access to various tools and languages which greatly simplifies the building of dapps on the blockchain and could be potentially used for AI dapps too. NEAR offers much lower transaction fees as opposed to many of its rivals. NEAR has a market cap of $6,413,243,209 and ranks 17 on the CoinMarketCap website.
Internet Computer (ICP)
Coin was created by the DFNITY Foundation. This blockchain was created with a goal to decentralize the world wide web by providing a platform that lets developers build decentralized applications, websites, and create other types of web services. This network is able to host large-sale applications running at high speed. ICP operates in a similar way to a distributed cloud and has high potential to host various AI applications and services based on its artificial intelligence.
Internet Computer can scale computation and data storage processes without providers that rely on traditional centralized cloud providers. Thanks to its Chain Key technology, ICP allows users to make seamless upgrades and ensures decentralized governance of smart contracts without charging them high gas fees.
ICP is not focused on AI directly. However, its decentralized cloud infrastructure can host AI-powered dapps that demand heavy computation and data management. With its market cap of $4,565,242,630, ICP ranks 23 among the top 50 cryptocurrencies.
Bittensor (TAO)
This coin sits on the top 25 spot with a market capitalization size of $4,259,902,669. This is a project focused on helping developers to build a decentralized machine learning network. It allows devs to contribute to the network which contains models trained and shared in a decentralized manner and thus it incentivizes AI development. Participants of the network get rewarded for their contribution efforts with TAO tokens.
TAO enables AI models to be trained on a decentralized network while contributors share data and various model insights using open source technologies. Bittensor was created to be compatible with other machine learning frameworks, such as TensorFlow and PyTorch, which attracts multiple AI developers specialized on different aspects of artificial intelligence basis for dapps.
Artificial Superintelligence Alliance (FET)
This coin is ranked on the position number 27 on the CoinMarketCap list with a market value of $4,091,133,875.
The Artificial Superintelligence Alliance is a collective created recently by several AI crypto projects blending together – SingularityNET, Fetch.ai, and Ocean Protocol. This AI blockchain union chases a goal of accelerating the development of decentralized AGI and finally achieving ASI.
As part of this mission, the Artificial Superintelligence Alliance includes advancing AI research, the promotion of decentralized development and making AI technologies much more democratic in order to achieve ethical and accessible growth in these areas. The ASI Alliance is rivaling the dominance of big tech as it stresses open-source solutions and is focused on decentralization.
Render (RNDR)
Render with a market cap of $3,448,431,243 and position 29 on CoinMarketCap represents a decentralized GPU rendering network focused on revolutionizing the rendering of 3D content and visual effects by leveraging distributed GPU power.Thanks to this tech, users are welcome to take advantage of this untapped GPU power across the network to perform tasks that involve high-intensity rendering.
Despite the fact that Render’s focus is placed more on rendering than AI itself, GPUs are necessary for AI tools, like neural networks and deep learning. Render is a great tool for content makers, artists, designers, etc, to gain access to a decentralized GPU network to create high-quality graphics much cheaper than via conventional centralized solutions and platforms.
Render’s infrastructure has wide potential to be used for supporting AI model training and similar tasks that cannot be completed without intensive computational power.
Overall, as the artificial intelligence sphere continues developing at a fast pace, crypto developers that wish to help advance this revolutionary area and monetize on its growth are likely to keep creating new AI-related tokens and boost their utility, along with the prices.
