More than 90% of participants in a recent KuCoin survey use or are interested in artificial intelligence to increase productivity, and 59% follow the achievements of AI in the crypto industry.
Together with crypto exchange analysts, we talk about popular projects that develop promising services at the intersection of AI and blockchain.
How blockchain contributes to the development of AI
Projects based on artificial intelligence successfully work without blockchain. Then why do companies regularly offer new products using AI and distributed ledger technology?
The fact is that the blockchain provides developers of AI solutions with a number of advantages:
- large computing power at relatively low cost;
- no single point of failure – AI cannot be “turned off” without compromising most of the nodes;
- full transparency – any user can track transactions and dapps data, which is especially important for services that process important information;
- scalable infrastructure – Such AI products can be scaled much more efficiently than centralized ones.
The contribution of AI to the blockchain industry
Participants of the KuCoin survey identified the most important benefits that the crypto industry will receive from the introduction of artificial intelligence:
- greater efficiency. Trading platforms can automate workflows and achieve faster, more streamlined and cheaper transactions;
- accurate predictions. Respondents note the success of AI in analyzing large amounts of data to identify patterns and make informed decisions in a volatile market;
- increased security. The ability to process data quickly allows AI to identify vulnerabilities in blockchains;
- new user experience. 20% of respondents under the age of 30 expect an improved user experience due to the integration of AI into the blockchain ecosystem. For them, this is as important as the accuracy of forecasts and safety.
Best AI Tokens
The KuCoin analyst team has selected three of the most promising projects for users who want to trade or invest in AI tokens.
ChainGPT (CGPT)
Solutions:
- services and applications using AI in the field of trading, creation and audit of smart contracts;
- ChainGPT language model for generating text on blockchain and cryptocurrencies.
CGPT token for access to the ChainGPT language model and API, staking and voting in the project’s DAO.
On June 13 at 16:00 (UTC), KuCoin will host a Russian-language AMA session with the ChainGPT team. Participants will learn about trends in the development of cryptocurrency AI projects and will be able to win up to $300 in CGPT equivalent.
Fetch.ai (FET)
Solutions:
- technology of autonomous economic agents (Autonomous Economic Agent, AEA);
- infrastructure for automating trading on the DEX. ForkLog previously published a review of Fetch.ai’s BotSwap app, which optimizes trading on Uniswap and PancakeSwap.
FET token to pay for the work of AEA in the Fetch.ai ecosystem.
Ocean Protocol (OCEAN)
Solutions:
- tools for publishing and processing data using AI;
- Ocean Market platform for buying and selling data in the form of NFTs and ERC-20 tokens.
OCEAN token for staking and data payment on the Ocean Market.
conclusions
According to KuCoin, the scalability and security of the blockchain makes it a reliable platform for running AI solutions. With the growing interest in the interaction of these technologies, the value of cryptocurrency projects using artificial intelligence will grow.
As Web3 services develop, artificial intelligence and cryptocurrencies will complement each other, and developers will be able to find new uses for these technologies.
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