Stake AGIX

1. What Is SingularityNET (AGIX)?

SingularityNET is a blockchain-powered platform that allows anybody to easily "create, share, and monetize" AI services, thanks to its globally-accessible AI marketplace. Through the SingularityNET marketplace, users can browse, test and purchase a huge variety of AI services using the platform’s native utility token — AGIX. Moreover, the marketplace represents an outlet AI developers can use to publish and sell their AI tools, and easily track their performance. With the benefits of LLMs and generative AI are increasingly exciting, their limitations are also becoming increasingly apparent. The convergence of structured knowledge with neural networks is emerging as the key to overcoming their shortcomings. Uniquely positioned at the heart of this convergence, SingularityNET will prioritize the integration of Knowledge Graphs (KGs) and comprehensive Neural Symbolic tools for LLMs, with the goal of empowering developers to create the next generation of AI systems on the SingularityNET Platform. SingularityNET is strategically positioned to become the Knowledge Layer of the Internet, leading the evolution of the emerging AI landscape while also laying the foundations for the Artificial General Intelligence (AGI) of tomorrow. The team behind SingularityNET pioneered the development of an AI known as Sophia, which is described as the "world's most expressive robot". SingularityNET’s goal is to enable Sophia to be able to fully understand human language, and continue developing “OpenCog” — an AI framework that is hoped to eventually achieve a state known as “advanced general intelligence,” i.e. human-level artificial intelligence (or beyond). The platform was first announced in 2017 and completed an initial coin offering (ICO) in December the same year, raising $36 million in just one minute.

2. Who Are the Founders of SingularityNET?

SingularityNET has an extensive team largely of AI scientists, developers, researchers and engineers. It was founded by Dr. Ben Goertzel (SingularityNET's CEO and chief scientist) in addition to Simone Giacomelli and Dr. David Hanson. Dr. Ben Goertzel is an established figure in the AI and robotics industry and has a long distinguished track record of working with advanced technology companies — including Hanson Robotics and the OpenCog Foundation. He also works as Mozi Health's chief scientist and vice chairman for Humanity+. Simone Giacomelli is an entrepreneur and investor that previously worked for crypto consultancy Cryptodex. He left the SingularityNET project in March 2019 and is now focused on the technology R&D lab Vulpem, which he founded in 2015. Dr. David Hanson is SingularityNET's third co-founder. He has a long and varied history in the robotics industry, working with Disney between 1998 and 2001 before founding several robotics startups — including Human Emulation Robotics, Initiative for Awakening Machines and Hanson Robotics over the last two decades.

3. What Makes SingularityNET Unique?

SingularityNET is the first platform that makes it easy for developers to sell their AI tools and libraries and enables buyers to test any AI service provided on the marketplace to see if it meets their needs before making payment. On top of this, those in need of specific AI services can also tap SingularityNET’s extensive community of AI specialists through the Request for AI portal (RFAI) — which allows customers to easily commission a new AI tool, while developers can earn AGIX tokens by filling these requests. The utility of the AGIX token has evolved with the development of the SingularityNET ecosystem. In October 2020, SingularityNET launched its SingularityNET Enhancement Proposal (SNEP) feature, enabling AGIX holders to vote on changes to the network’s operations. Whereas in March 2020, a staking feature was added, enabling users to stake their tokens In a collaboration with Hanson Robotics, SingularityNET recently released a joint venture known as Awakening Health, which develops products that leverage AI for healthcare purposes. Its first product is Grace, a humanoid assistant for the healthcare industry.

4. How Many SingularityNET (AGIX) Coins Are There in Circulation?

As of February 2021, a total of 861.5 million AGIX tokens representing 86% of the total supply were in circulation. As such, AGIX can be considered largely diluted. Half (50%) of the total AGIX supply was sold during SingularityNET's 2017 ICO. Beyond this 20% was reserved for early developer and partner incentives, 18% for the core team members (now fully vested), 8% for the SingularityNET foundation for the long-term development of the platform, whereas the last 4% was reserved for security bounties.

5. How Is SingularityNET Network Secured?

AGIX is an ERC-20 token. This means it’s backed by the Ethereum proof-of-stake (PoS) consensus algorithm and battle-tested network of validators. To date, the Ethereum network has never been successfully attacked and is considered one of the most secure networks currently operating. The team behind SingularityNET has hinted that SingularityNET may move to another blockchain in the future, and recently announced it was exploring the possibility of launching on the delegated proof-of-stake (dPoS) Cardano blockchain.

6. Where Can You Buy SingularityNET (AGIX)?

The AGIX token is available to trade on several prominent exchange platforms, including Binance, KuCoin, and HitBTC. It's also available on two of the most popular DEXs — Uniswap and Balancer. Currently, the only available trading pairs for AGIX are AGIX/BTC, AGIX/ETH, and AGIX/WETH. It is not currently possible to purchase AGIX directly with your credit or debit card from any of these exchange platforms, but you may be able to buy Bitcoin (BTC) first, and then exchange this for AGIX. Here’s how.

7. Related Pages:

Check out Rarible (RARI) — a decentralized marketplace for non-fungible tokens. Check out Uniswap (UNI) — the governance token for the Uniswap decentralized exchange. Learn about decentralized exchange (DEXs) with CoinMarketCap Alexandria. Meet the CoinMarketCap blog — your source for crypto insights, updates, and announcements.

8. What is Blockchain?

Blockchain is a decentralized and distributed ledger technology that securely records transactions across multiple computers in a verifiable and permanent way. It forms the underlying technology for cryptocurrencies like Bitcoin and enables transparency, security, and immutability.

9. What is Cryptocurrency?

Cryptocurrency is a digital or virtual form of currency that uses cryptography for security. It operates on decentralized networks, typically based on blockchain technology, and facilitates secure and transparent peer-to-peer transactions.

10. What is Bitcoin?

Bitcoin is the first and most well-known cryptocurrency, created in 2009 by an anonymous person or group known as Satoshi Nakamoto. It operates on a decentralized peer-to-peer network and is used for secure, transparent, and censorship-resistant transactions.

11. What is the difference between Bitcoin and Altcoins?

Bitcoin is the original and most widely recognized cryptocurrency, while altcoins refer to any other cryptocurrencies besides Bitcoin. Examples of altcoins include Ethereum, Ripple (XRP), Litecoin (LTC), and many others.

12. What is Staking?

Staking involves participants locking up a certain amount of cryptocurrency in a wallet to support the operations of a blockchain network. It is commonly associated with proof-of-stake (PoS) and delegated proof-of-stake (DPoS) consensus mechanisms, where participants receive rewards for helping secure the network.

13. How Can I Stake Cryptocurrency?

To stake cryptocurrency, you typically need to choose a platform or network that supports staking. Transfer your tokens to a compatible wallet, follow the staking instructions provided by the platform, and lock up the desired amount of cryptocurrency. Once staked, you may start earning rewards.

14. What Are Staking Rewards and How Are They Calculated?

Staking rewards are incentives provided to participants who lock up their cryptocurrency to support the network. The amount of rewards varies and is influenced by factors such as the network's inflation rate, the total amount staked, and the specific rules of the staking protocol.

15. Can I Unstake My Cryptocurrency at Any Time?

The ability to unstake and withdraw your cryptocurrency depends on the specific staking protocol and network. Some platforms may have lock-up periods or unbonding periods during which your staked tokens are inaccessible. Always check the terms and conditions of the staking service.

16. What are the Risks of Staking?

Staking comes with risks, including the potential loss of staked funds if a participant behaves maliciously or fails to fulfill their responsibilities. Market volatility can also impact the value of staked tokens. It's crucial to thoroughly research the staking protocol and understand the associated risks.

17. Can I Lose Money by Staking?

While staking is designed to be a rewarding activity, there is a risk of losing money, especially if the value of the staked cryptocurrency decreases or if the staking protocol encounters security issues. It's important to consider both the potential rewards and risks before participating in staking.