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- 1 Fetch.AI (FET) is a digital cryptocurrency that belongs to a larger innovative project with a significant platform.
- 2 Fetch.AI is an advanced, decentralized digital world where autonomous software agents do useful economic work for their owners.
Fetch.AI is an artificial intelligence (AI) lab that creates an open, permissionless, decentralized machine learning network with a crypto economy. Fetch.AI makes AI technology available to everyone with a permissionless network where anyone can connect and access secure datasets by using autonomous AI to perform tasks that use its global network of data.
What is Fetch.AI?
The Fetch.AI model is based on use cases like improving DeFi trading services, transportation networks (parking, micromobility), smart energy grids, and travel — basically any complex digital system that depends on large-scale datasets.
The project is led by Humayun Sheikh, who was an investor in DeepMind, Thomas Hain, a professor in advanced sciences, and Toby Simpson, a former lead producer at games company Eidos.
What is $FET Used For?
The FET token is not only used as a way of exchange within the Fetch.AI platform but also to motivate participation and reward different forms of user involvement. This includes activities such as data provision, network development, and system maintenance, among other things.
The platform itself, through its autonomous agents, is used for various purposes, such as optimization tasks, machine learning, data utilization, and automation in different sectors, such as supply chains, energy, transportation, and healthcare.
These agents can be customized to specific tasks and can communicate with each other, learning and adapting over time to improve efficiency.
Features of Fetch.ai
Fetch.ai’s utility token FET is used to create, find, deploy, and train digital twins and is a key part of smart contracts and oracles on the platform. With FET, users can make and deploy their own digital twins on the network.
Developers, by paying with FET tokens, can use machine-learning-based utilities to train autonomous digital twins and deploy collective intelligence on the network.
Validation nodes are also enabled by staking FET tokens, which helps network validation and reputation as a result. The Fetch.ai technology stack has four main elements, which are: The Digital Twin Framework, The Open Economic Framework, The Digital Twin Metropolis, and The Fetch.ai Blockchain.
When it comes to the platform’s core components, there is the learner where each participant is the learner in the experiment, representing a unique private dataset and machine learning system.
There is also the global market, which is the outcome of a collective learning experiment, where the machine learning model is trained collectively by the learners themselves.
Next, there is the Fetch.ai Blockchain that supports smart contracts that allow coordination and governance in a secure and auditable way. Lastly, there is the decentralized data layer based on IPFS which enables the sharing of machine learning weights between all of the learners involved.
How To Buy the FET Token
Interested in buying one? Here is the systematic procedure you can follow to purchase within just 15 minutes. Surprisingly, you can purchase with a smartphone or computer system, depending on your preference.
The very first step in the buying process is to create an account on the crypto exchange that supports the FET Token. Remember, while choosing the crypto exchange, you should focus on factors like transaction fees, fitting with the cryptocurrency, and the mode of payments accepted by the exchange.
Binance, BiKi, BiONE, BitAsset, and HitBTC are a few of the options you can explore to make a better choice. Once selected, creating an account and securing the same by setting the Google 2FA code, trading password, and anti-phishing code is the next thing to do.
Entering personal details and uploading a valid photo ID will further help in validating the account from the exchange’s end. Now you are done with the account creation formalities.
Buying a digital asset requires money, and crypto exchanges offer different options to add payment methods and purchase tokens.
Credit/ Debit cards or bank accounts are some of the most common payment methods offered by most of the crypto exchanges. Following the simple navigation for buying will help in making the final purchase.
Conclusion
Fetch.ai is a platform that seeks to provide a secure, reliable, and scalable way to construct and deploy smart contracts and decentralized applications that use artificial intelligence (AI) and machine learning (ML). Fetch.ai has some unique characteristics that make it stand out from other platforms, like as Autonomous agents, Data sharing, Self-amendment, and Proof-of-stake.
Fetch.ai was created by Humayun Sheikh, who was an investor in DeepMind, Thomas Hain, a professor in advanced sciences, and Toby Simpson, a former lead producer at games company Eidos. They worked with a team of developers and researchers for two years to develop the Fetch.ai protocol and platform. It was launched in 2019 and has since become a major player in the crypto space.
FAQs
Where can I buy Fetch.AI (FET)?
FET tokens can be purchased from some of the top cryptocurrency exchanges including Binance, BitAsset, HitBTC, BiKi, and BiONE.
What is the total supply of FET tokens?
The total supply of FET tokens is 1,152,997,575 FET and the circulating supply is 813,926,383 FET.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
