Now that Bitcoin is trading between $51,000 and $52,000, focus has turned to smaller altcoins, which often perform better during bull markets, maybe indicating the start of a new “alt season.” AI and machine learning cryptocurrency projects are one subset that appears prepared for this cycle, according to analyst Altcoin Daily.
Additionally, decentralized AI solutions are prepared to profit on the rising need for data processing as the business grows into the multi-trillion dollar range over the next ten years and advances in artificial intelligence technology pick up speed.
These are the top five cryptocurrencies that are enabling cutting-edge machine learning applications and have the potential to see significant growth by 2024:
SingularityNET
SingularityNET is a decentralized marketplace for artificial intelligence (AI) services, founded in 2017 by a reputable individual with a clear vision for the development of artificial general intelligence (AGI). Furthermore, it is able due to its dominance as the top platform for AI-as-a-service.
LimeWire
Prioritizing AI-generated music, LimeWire—once recognized for peer-to-peer file sharing—has reemerged. Furthermore, the protocol makes use of blockchain technology to enable artists to have control over the marketing of their work while using AI to create it.
Bit Tensor
Bit Tensor, one of the biggest AI cryptocurrencies now in use, seeks to transform machine learning via decentralization. The project harnesses the collective intelligence from AI models at scale through a peer-to-peer market for computational capacity.
AIT Protocol
The AIT Protocol is considered the world’s first AI data infrastructure, bridging the huge gap between the AI and big data fields. Additionally, deploying Web 3 AI solutions and decentralized data collection has the potential to create millions of jobs.
The Graph
Dubbed the “Google of blockchain,” The Graph has become the leading Web 3 indexing and querying protocol for organizing and accessing blockchain data. Decentralized architecture provides fast and reliable data insights for data-intensive chains and unlocks the potential of AI.
Advances in machine learning capabilities are expected to add trillions of dollars in value over this decade, and innovations that combine AI with decentralized tools could have a huge impact. As the most promising projects are adopted in the coming years, the underlying crypto assets are expected to benefit greatly given the growing data economy.
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