Top 10 AI-Powered Cryptocurrencies in 2023
Explore the exciting world of AI-powered cryptocurrencies in our top 10 list for 2023. These digital assets are revolutionizing blockchain technology, combining the power of artificial intelligence with decentralized networks. Discover how these tokens are enhancing their respective ecosystems and learn about their potential for growth and innovation.
In a world where cutting-edge technologies intersect, the convergence of artificial intelligence (AI) and cryptocurrency has become a reality. AI cryptocurrencies are at the forefront of this digital revolution, offering unique applications and potential for growth.
In this article, we will explore the top 10 AI-powered cryptocurrencies based on their market capitalization as of December 2023. But first, let's understand the fundamentals.
What Are Cryptocurrencies?
Cryptocurrencies are digital currencies that operate independently of central banks and traditional financial institutions. They are decentralized and rely on blockchain technology, a distributed ledger system maintained by volunteers known as miners.
These miners validate transactions and record balances using specialized software, a process commonly referred to as "mining." Cryptocurrencies have gained popularity due to their potential for substantial value appreciation.
What is AI?
Artificial intelligence (AI) is a branch of computer science that empowers machines to make decisions based on data, often mimicking human intelligence. AI encompasses various technologies, including machine learning and neural networks, with diverse applications across industries.
AI has recently made significant strides in creative fields, such as generating artwork and producing human-like text based on user prompts. The potential of AI extends beyond creative tasks and has found its way into the cryptocurrency space.
What’s an AI cryptocurrency?
AI cryptocurrencies are tokens designed to power AI blockchain platforms. These platforms, such as The Graph and SingularityNET, leverage AI capabilities to offer unique services. Users typically spend tokens to access and benefit from the integrated artificial intelligence within these platforms.
Now, let's delve into the top 10 AI cryptocurrencies and explore how AI enhances their respective blockchain ecosystems.
The Graph (GRT)
Market Cap: $US1.28 billion
Overview: The Graph serves as a protocol for indexing and querying data from blockchains, similar to how Google indexes web data. It organizes blockchain data into smaller "subgraphs" for efficient access.
Native Cryptocurrency: GRT
Current Value: $US0.11
SingularityNET (AGIX)
Market Cap: $US363 million
Overview: SingularityNET is a blockchain platform that enables the creation, sharing, and monetization of AI services. Users access AI services within the platform using the native cryptocurrency AGIX.
Native Cryptocurrency: AGIX
Current Value: $US0.29
Ocean Protocol (Ocean)
Market Cap: $US271 million
Overview: Ocean Protocol facilitates the exchange and monetization of data and data-based services on the Ethereum blockchain. It allows data to be shared without compromising data ownership.
Native Cryptocurrency: Ocean
Current Value: $US0.47
dKargo (DKA)
Market Cap: $US116 million
Overview: dKargo leverages AI to address trust issues within the logistics sector. It provides credible data through blockchain technology.
Native Cryptocurrency: DKA
Current Value: $US0.0371
iExec RLC (RLC)
Market Cap: $US109 million
Overview: iExec offers an AI blockchain platform that enables users to monetize their computing power and access on-demand cloud computing resources.
Native Cryptocurrency: RLC
Current Value: $US1.51
Numerai (NMR)
Market Cap: $US101 million
Overview: Numerai operates as an AI blockchain network functioning as a hedge fund. It utilizes AI and machine learning for global stock market investments.
Native Cryptocurrency: NMR
Current Value: $US16.25
Artificial Liquid Intelligence (ALI)
Market Cap: $US62 million
Overview: Artificial Liquid Intelligence focuses on "intelligent NFTs" (iNFTs) that utilize AI for interaction. These digital avatars can exhibit AI-generated animations and voice.
Native Cryptocurrency: ALI
Current Value: $US0.017
How Do I Buy AI Cryptocurrencies?
You can purchase AI cryptocurrencies through various cryptocurrency exchanges such as BingX and KuCoin, similar to traditional cryptocurrencies like Bitcoin and Ethereum. Here's a simplified process:
Open an account on a cryptocurrency exchange.
Complete identity verification steps (KYC).
Deposit fiat currency (e.g., USD or EUR) into your exchange account.
Locate the AI cryptocurrency you wish to buy.
Enter the desired amount and execute the trade.
For smaller AI projects, you may need to use a web3 wallet like Metamask and decentralized exchanges (DEX) like Uniswap for purchases.
How Do I Store AI Cryptocurrencies?
Most cryptocurrency exchanges offer free crypto wallets where you can securely store your private and public keys.
Alternatively, you can opt for an offline cold wallet (hardware wallet) for enhanced security. Cold wallets are less susceptible to hacking since they are not connected to the internet. However, losing access to your cold wallet credentials could result in permanent asset loss.
Are AI Cryptocurrencies Safe?
The safety of AI cryptocurrencies depends on how you store them and your risk tolerance. Cryptocurrency investments, including AI cryptocurrencies, are exposed to market volatility. It's essential to acknowledge the inherent risks in the digital asset world.
In 2022, cryptocurrencies, including Bitcoin and Ethereum, experienced significant price fluctuations, highlighting the volatile nature of the market. Security concerns persist, with hackers targeting both crypto wallets and exchanges. Cold wallets offer enhanced security but are not entirely immune to risks when connected to the internet.
Bottom Line
AI cryptocurrencies represent a dynamic intersection of AI and blockchain technology, offering diverse applications and opportunities. However, you should exercise caution, conduct thorough research, and consider your risk tolerance before venturing into this evolving space.
