Artificial Intelligence and Cryptocurrencies: Top 3 Projects Shaping the Future of the Digital Economy

In today's news article, Coinmooner wants to tell you about three cryptocurrency projects leading the way in the Web3 industry, critical players in token prices, and connected to artificial intelligence in 2024. These projects in cryptocurrencies and blockchain technologies showcase outstanding technical expertise and possess significant market capitalization, highlighting their importance and influence on the modern digital economy.

Such knowledge about cryptocurrency projects can be valuable to our readers. After all, Web3 projects based on artificial intelligence and data analysis represent technological innovations and critical components of the future digital economy. Artificial intelligence, with its ability to automate processes and analyze vast amounts of data, has become the engine for various industries, ranging from finance and healthcare to technological solutions for sustainable development.

Projects merging cryptocurrencies and artificial intelligence offer intriguing solutions previously unavailable or inefficient in centralized systems. For instance, the fusion of blockchain and machine learning paves the way for decentralized market prediction systems or risk management, ensuring transparency and data reliability.

It's crucial to grasp that knowledge about cryptocurrency projects, particularly those related to artificial intelligence and data analysis, is not just about riding the next wave of the digital economy. It's about equipping you as investors and entrepreneurs with the tools to make informed decisions. The market capitalization of these projects reflects investor interest and signifies the community's trust in their technology and potential for future growth. Let's delve deeper into these three projects our team has gathered analytical information about.

NEAR PROTOCOL

The first project Coinmooner wants to mention is NEAR Protocol (NEAR) - it's a layer-one blockchain designed as a cloud computing platform, community-driven, and aiming to address some of the limitations that slow down other blockchains, like slow transaction speeds, low throughput, and lack of compatibility. This creates an ideal environment for DApps and provides developers and users with a user-friendly platform. For instance, NEAR uses human-readable account names instead of cryptographic wallet addresses that are common in Ethereum. NEAR also introduces unique solutions for scalability issues and has its consensus mechanism called "Doomslug."

NEAR Protocol is developed by the NEAR Collective, its community, which updates the original code and releases upgrades for the ecosystem. Its stated goal is to create a platform that is "secure enough to manage high-value assets like money or identity, and performant enough to make them useful for regular people."

Examples of projects built on NEAR Protocol include Flux, which allows developers to create markets based on real-world assets, goods, and events, and Mintbase, a platform for creating NFTs. The cryptocurrency trading volume in the last 24 hours amounted to $438,053,159.

THE GRAPH

Next, we want to highlight the Graph (GRT) project – an indexing protocol for fetching data in networks like Ethereum and IPFS, supporting various applications in DeFi and the broader Web3 ecosystem. Anyone can create and publish open APIs, called subgraphs, which applications can request using GraphQL to retrieve blockchain data. There's a hosting service that makes it easier for developers to get started with The Graph, and a decentralized network will be launched later this year. Currently, The Graph supports data indexing from Ethereum, IPFS, and POA, with support for other networks coming soon.

As of today, thousands of developers have deployed over 3,000 subgraphs for DApps such as Uniswap, Synthetix, Aragon, AAVE, Gnosis, Balancer, Livepeer, DAOstack, Decentraland, and many others. The use of The Graph is growing by over 50% monthly and reached over 7 billion queries in September 2020.

The Graph has a global community, including over 200 indexing nodes in the test network and over 2,000 curators in the curator program as of October 2020. To fund the network's development, The Graph raised funds from community members, strategic venture funds, and influential figures in the blockchain community, including Coinbase Ventures, DCG, Framework, ParaFi Capital, CoinFund, DTC, Multicoin, Reciprocal Ventures, SPC, Tally Capital, and others. The Graph Foundation's fund also completed a public sale of GRT involving participants from 99 countries (excluding the US). As of November 2020, The Graph has raised ~$25 million.

The Graph is working on providing reliable decentralized public infrastructure in the market. The Graph (GRT) token is used to ensure the network's economic security and the integrity of data requested by participants. GRT is a utility token staked by Indexers, Curators, and Delegations to provide indexing and curation services to the network.

GRT will be an ERC-20 token on the Ethereum blockchain, used for resource allocation in the network. Active Indexers, Curators, and delegates can earn income from the network proportionate to their work and GRT stake. Indexers receive rewards for indexing (new issuance) and query fees, while Curators receive a portion of query fees for subgraphs they signal on. Delegators receive a portion of the income earned by the Indexer to which they delegate.

Also, according to the provided information, the Graph (GRT) market capitalization stands at $2,527,697,368, representing the total value of the cryptocurrency's circulating supply. This is akin to the market capitalization in the stock market. The number of coins circulating in the market and held by the public is 9,483,297,449 GRT.

BITTENSOR

Bittensor is a unique protocol powered by blockchain that opens the doors to decentralized machine learning. Here, machine learning models collaborate and earn rewards through TAO for their contributions to the common good. The protocol also offers external access, allowing users to extract and customize information from the network to their needs.

At its core, this protocol is built on creating a perfect market for artificial intelligence - a place where participants can interact safely and transparently. Bittensor unlocks new opportunities for developing and disseminating AI technologies, providing open access to machine intelligence for all and fostering global innovation. Users receive rewards and ownership in the network based on their contributions and added value.

The current price of Bittensor is $358.74, and its 24-hour trading volume is $29,638,682. Bittensor can be purchased at leading exchanges such as Binance, LBank, BYDFi, Bybit, and Toobit.

Coinmooner strongly believes in the importance of conducting in-depth analysis of projects related to artificial intelligence that hold a strong position in the Web3 world. It is always essential to stay informed and evaluate these projects against the ones you plan to invest in. Also, we would like to ask our esteemed readers to independently analyze all news from the cryptocurrency world, as it helps to detect warnings of scams, hacks, and other security threats. Analyzing news and studying the cryptocurrency market is also an excellent way to learn. You'll get acquainted with various technologies, market trends, and economic and political factors impacting the cryptocurrency world. Also, CoinMooner would like to remind you that in the Web3 world, it's always necessary to resort to advanced security methods to protect your finances from fraudsters.