What is SingularityNET?
The team behind this platform plans to evolve into a completely self-organizing AI network as they currently provide Al-as-a-Service(AiaaS) marketplace. The AI services marketplace focuses on Cloud robotics, Bio-medical research, and Cybersecurity within the first two years of platform development.
The AI developers get to enjoy SingularityNET AGI token through the exchange of their tools or services and with smart contract capabilities, there is efficient match-making between ideal or favorable exchanges and proper governance through DSOC. Smart contracts would power voting since the system is based on staking based Proof of Stake.
SingularityNET uses smart contracts and through the use of Singularity Agents, these smart contracts are executed on the platform. So as to maintain the validity of the network, agents rank each other. Therefore, the main vision of this platform is to build a network of complex AI Agent interactions.
SingularityNET is built on the Ethereum blockchain hence the AGI token is an ERC20 based token. The consensus algorithm used is Proof-of-Stake as the coins are staked and earn interest in the process.