Fletch.ai (FET) - An artificial intelligence project that aims to make transactions without human intervention.
- Within the fashion of artificial intelligence cryptocurrencies, Fetch.ai (FET) is one of the most traded cryptocurrencies in the world.
- Fetch.ai is built around the idea of "autonomous economic agents" (AEAs).
- The project's native cryptocurrency, Fetch.ai (FET), is used for a number of things within the ecosystem, such as staking.
Key Metrics Fetch.ai (FET)
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What is Fetch.ai (FET)?
Fetch.ai is an artificial intelligence and blockchain project that aims to create a decentralized economy, where autonomous devices can interact and transact without the need for direct human intervention.
Fetch.AI, based in the UK, was founded by Humayun Sheikh, Toby Simpson and Thomas Hain. Humayun Sheikh is known for being an early investor in DeepMind, an artificial intelligence company that was later acquired by Google.
Fetch.AI was launched with the goal of using artificial intelligence and blockchain technology to create a decentralized economic infrastructure. The founders' vision was that autonomous agents, using artificial intelligence, would be able to interact with each other without the need for human intermediaries, and this would enable greater efficiency in areas such as transportation, energy, healthcare and the supply chain.
The project conducted an Initial Coin Offering (ICO) in February 2019, raising $6 million in a few tens of seconds, reflecting the strong interest in the project.
Fetch.ai (FET): What makes it different and why invest?
Fetch.ai is built around the idea of "autonomous economic agents" (AEAs). These AAEs can live on any device, such as a server, an IoT device, a cell phone, etc. AAEs can interact with the digital world and perform tasks, such as buying or selling cryptocurrencies.
These autonomous agents can perform a number of different tasks, including: trading on behalf of their owners, optimizing energy networks, performing complex coordination tasks, and much more.
The project's native cryptocurrency, Fetch.ai (FET), is used for a number of things within the ecosystem. For example, it is used for network participation (staking), for accessing services on the network, and for incentivizing network participation.
Fetch.AI uses a unique consensus mechanism called Useful Consensus, Proof of Staking (uPoS). This allows validator nodes to be selected based on the number of FET tokens they have in staking and their usefulness to the network.
The Fetch.AI team has also been working on unique technology developments, such as a deep learning variant called "collective machine learning ", which allows machines to learn from the experience of other machines, which is planned for use within perpetual contracts in the future.
In addition, the network has launched several interesting products and features, including a core network, a test network, a block explorer and a proprietary programming language called Etch.
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