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With the public release of Chat GPT 3.5 in November 2022, people witnessed artificial intelligence becoming a tangible reality. Once thought to be an exaggeration in movies and before the widespread use of chatbots, artificial intelligence is now proving its existence. It has been 449 days since the launch by OpenAI, and today we are in a completely different place.
Artificial Intelligence (AI) and Crypto
At its core, the narrative of Web3, the next phase of the internet, is merging many areas with cryptocurrency. Current Web2 giants are striving to prepare themselves for the new internet world based on blockchain. Although this may seem like a hype similar to the metaverse that comes and goes, it has turned into a sought-after thing in many respects, from the complete transfer of data ownership to the user.
We will see companies successfully transform in the future, but today we are in the early stages where Facebook or others have not yet entered our lives. The transformation is not as easy as thought, and artificial intelligence could be the way to make it possible.
Today, even in its early stages, artificial intelligence can take on tasks beyond human capability and will be able to perform much more complex tasks in the future. Artificial intelligence will certainly support the Web3 transformation by enhancing the work capacity that will facilitate the work of everyone, including users, service providers, and governments.
The Role in Crypto
Today, people who can apply artificial intelligence to their work are experiencing something akin to the Industrial Revolution. Less labor, incomparably more efficiency, and sustainability. Mechanization, production with electricity, partial automated production, full automations, and ultimately, automations that can improve themselves.
The significant part of cryptocurrency developers consists of people from all around the world who do not know each other. Just getting support from artificial intelligence in code error checking alone will multiply their production.
Indeed, there are artificial intelligence products developed for cybersecurity, penetration, and such, and they are already doing a better job than an average intern. The key aspect of artificial intelligence is its ability to develop as it works, which brings us to the topic of natural machine learning. If we consider the key feature to be the ability to turn experience into efficiency, AI could eventually evolve from an intern to an expert, and from an expert to a chief.
Imagine the Future
Let’s imagine that in 10 years, thousands of artificial intelligence products have taken over the crypto industry. On one side, there are smart contract platforms developed solely by artificial intelligence. Let these platforms be managed by DAO and programmed in a way that the language model does not deviate from ethics.
The person at the head of the smart contract platform is not Vitalik Buterin, but artificial intelligence that filters and applies decisions from the DAO based on majority votes and keeps up with the latest updates. It develops the protocol, constantly scans for code errors, prepares guides for protocols, publishes code training sets, and when necessary, takes on the leadership role to keep the community alive and manages to do it all.
Complete decentralization, eliminating the need for trust, and efficiency could be fully possible with artificial intelligence. That’s why the interoperability of crypto with artificial intelligence is important; their destinies intersect at some point.
Artificial Intelligence Crypto Projects
We said that artificial intelligence became tangible for all of us with ChatGPT since the end of November 2022. In the second part, we talked about why artificial intelligence is important in the crypto field and its role in the Web3 transformation. Most of these are things that the majority of cryptocurrency investors don’t care about, and for them, we should also look at AI-focused crypto projects.
Render (RNDR)
This initiative’s connection with artificial intelligence is related to GPU power. The primary reason for the rise in Nvidia’s shares is that the chips it produces are used for AI products. Render (RNDR) has seen a significant rise since the end of November 2022 because it rents out GPU power.
The Graph (GRT)
It has been providing blockchain indexing services for many years. SubGraph or Alt Graph create open APIs, and these data can be published. With the increasing excitement in the AI field, the GRT Coin team decided to develop their services with AI support.
Fetch (FET)
Known as one of the most famous AI altcoins, FET Coin has increased more than tenfold since November 2022 after making a splash with its partnership with Bosch. The initiative, which combines the Internet of Things (IoT) with artificial intelligence, is currently striving to enable smart home appliances to communicate with each other. Its partnership with the appliance giant could lead to hearing its name more in the future.
Other Artificial Intelligence Coins
In addition to these, well-known cryptocurrency projects such as NEAR and Oasis that are trying to make their work compatible with artificial intelligence are also listed among AI tokens. The cumulative value of AI-related altcoins is at the level of 23.3 billion dollars, and they are trading with a satisfactory volume of about 3 billion dollars daily. The biggest ones are as follows;
- NEAR
- RLC
- AGIX
- OCEAN
- ROSE
- ARKM (Blockchain intelligence initiative is making much more efficient evaluations and reports with the analysis it does with artificial intelligence.)
- NFP
- THETA
