{"id":26985,"date":"2018-01-26T07:00:46","date_gmt":"2018-01-26T15:00:46","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=26985"},"modified":"2018-01-25T22:10:18","modified_gmt":"2018-01-26T06:10:18","slug":"quick-look-singularitynet-decentralized-protocol-transacting-ai-algorithms","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/quick-look-singularitynet-decentralized-protocol-transacting-ai-algorithms\/","title":{"rendered":"A Glimpse Into SingularityNET: The Decentralized Protocol for Transacting AI Algorithms"},"content":{"rendered":"

2018 is already forecasting the birth of many decentralized marketplaces<\/a>. Blockchain and smart contracts are allowing users to trade without escrow services or centralized institutions. And this new technology is allowing for a marketplace that the world has never seen before.<\/p>\n

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Sophia Hanson, chief Humanoid of SingularityNET<\/a><\/figcaption><\/figure>\n

This marketplace will allow anybody to rent or use a piece of Sophia's<\/a> mind. In fact, all of the algorithms and pieces that created Sophia will be up for use via SingularityNET<\/a>, as well as any other AI. It will be the first and largest AI marketplace, where anyone can buy or sell artificial intelligence.<\/p>\n

\"SingularityNET\"<\/a>
SingularityNET<\/a> is a protocol for coordinating, discovering, and transacting AI algorithms at scale.<\/figcaption><\/figure>\n

AGI will be the token used in SingularityNET's marketplace — there will only be 1 billion tokens ever in circulation, with the public ICO entry price at $0.10 per token.<\/p>\n

Now Trading on Exchanges<\/h2>\n

About a week ago, the token was released on a few small exchanges, including Kucoin<\/a>\u00a0for the highest volume and Tidex<\/a> with the second highest. When first released, the token peaked ar around $2.30 and is now averaging around $.74.<\/p>\n

It's a bit more complicated to understand what the market cap is just yet, as only half of the tokens were released in the public sale. The tokens that are currently in circulation are just of the public token sale, which can give an estimated value of anywhere between $30-75 million market cap.<\/p>\n

But these numbers dwarf CEO Ben Goertzel's estimates of what a decentralized AI marketplace can tap into. Currently, the AI marketplace is about a $122 billion market. By 2025, researchers<\/a> estimate that this can become a $3.05 trillion<\/em> market.<\/p>\n

Ben believes that the largest obstacle holding back AI innovation is lack of cooperation. Many great scientists are producing AI results but with no way to communicate these to each other. SingulairtyNET<\/a> can become the center connection for humans and humanoids alike to trade artificial\u00a0intelligence.<\/p>\n

How does SingularityNet<\/a> work? Watch this short video (2:00)<\/p>\n