AI cryptocurrencies: How they are different from other tokens
Artificial intelligence (AI) fever has reached everywhere, even the complex world of cryptocurrencies. The relationship between AI and cryptocurrency may not be visible at first glance. However, the sudden rise in the popularity of AI technologies has birthed a new class of cryptocurrency called "AI crypto coins" or "AI tokens." How are AI tokens different from usual coins? Let's see.
Why does this story matter?
Over the past few months, AI technologies have shown they are the next big thing in the world. It is expected to improve our lives by leaps and bounds. Therefore, it is not surprising that AI tokens are growing in popularity. The world of digital assets is constantly looking for the next boom, and AI could be their answer to that.
AI tokens are usually related to AI-based blockchain projects
Let's first understand what AI tokens are. In simple terms, they are tokens related to AI-based blockchain projects. It is, however, an umbrella term for AI-based services in the crypto space. While some of them help users create virtual platforms to trade AI algorithms, others are specifically focused on blockchain applications. Now, how are they different from normal crypto coins?
Blessed with AI capabilities
Cryptocurrencies are built on blockchain networks. As we saw earlier, AI tokens are also based on blockchain networks. Therefore, they are primarily from the same cloth. However, there is a chief difference between the two. AI tokens are blessed with the abilities of AI, which makes them more secure and functional, and offer better performance.
What can AI coins do that others cannot?
Infused with the powers of AI, AI tokens can predict market fluctuations. In a crypto world plagued by volatility, this is an attractive quality. They can help investors make informed decisions by recording and maintaining market trends. These tokens can also go through social media and find crypto-related keywords, which also help in making an algorithmically-calculated decision.
AI tokens have several use cases
AI is known for its flexibility and can be used for various purposes. Similarly, AI tokens also have a myriad of use cases. For instance, Fetch.ai (FET) is an AI lab working on automating everyday tasks like finance and travel. Meanwhile, Cortex is working on building the first decentralized world computer that can run AI and AI-powered dApps (decentralized applications).
The Graph (GRT) is most valuable AI token
Some of the popular AI tokens include The Graph (GRT), Render Token (RNDR), Oasis Network (ROSE), Solidus Ai Tech (AITECH), Injective (INJ), and SingularityNET (AGIX). GRT is the most valuable AI token, with a market capitalization of over $1 billion.
