What is Fetch.ai ?
Fetch.ai develops tools and infrastructure to facilitate the development of a decentralised digital economy. Fetch.ai’s network is built on open-source technology that any user may use to join the network. Built on a distributed ledger, it enables safe worldwide data sharing, connectivity, and transactions.
The idea is a combination of artificial intelligence (AI) and blockchain technology.
They launched fetch in February 2019 as a new project on the Binance Launchpad. Toby Simpson, Humayun Sheikh, and Thomas Hain are the founders of Fetch.ai.
Primary features of Fetch.ai
- The three major parts of this technology are Autonomous Economic Agents (AEA), Open Economic Framework (OEF), and the Fetch Smart Ledgers.
- Fetch. AI aspires to displace centralised systems responsible for everything from data transmission to the provision of essential services like hotel room booking.
- AI aspires to create an Open Economic Framework (OEF) as an ecosystem in which agents and digital data coexist and perform optimally at a cheap cost.
- Fetch AI and its FET token eliminate the need for human or corporate middlemen to regulate access to the digital sphere.
Is Fetch.ai a promising cryptocurrency?
For holders of FETs, staking remains the most secure investment choice. When you store your money on the Fetch.ai blockchain, you may earn up to 10% per year. While FET performed admirably in 2021 and provided large profits for investors, it is somewhat volatile for a long-term hold.
How to use Fetch.ai coins?
- Adding a new agent to the network: A developer needs to deposit a particular quantity of FET to add an agent to the network.
- Exchange services and data: The FET token acts as a medium of exchange inside the network, enabling agents to get data and services from one another.
- Exchange: Users can exchange FET coins for other cryptocurrencies on different cryptocurrency exchanges.
- Trade: Investors who expect the price of the FET coin to go up can hold FET coins and sell for a profit.
Pros & Cons of Fetch.ai coin
- It is scalable and can accommodate millions of transactions per second.
- Capable of automatically connecting the OEF to the Fetch agents.
- FetchAI’s team and advisory board are ideal for a startup looking to break into the competitive field of AI and Machine Learning.
- Many team members are former employees of DeepMind, an artificial intelligence startup that produced innovative technologies in neural networks.
- The firm hired some remarkable advisers that offer extensive knowledge in economics, artificial intelligence, and so on.
- The token utility does not convince investors.
- None of the team’s leaders or advisors has shown familiarity with blockchain technology.
Trade Fetch.ai coin on CoinSwitch kuber
- Invest as low as Rs.100 to trade in FET coins.
- Instantly withdraw
- Instantly withdraw money
- Buy and sell FET at market rates with no fees
- Exchange FET tokens for other cryptocurrencies at the best possible rate
Fetch.ai ICO summary
FET Token sale ended on 25th February 2019, and it raised the entire amount of $21 million. If you missed out on the ICO, you could buy FET tokens on CoinSwitch Kuber.
FAQ's on Fetch.ai
Is Fetch.AI a good investment?
As per many predictions, the long-term forecast for the FET price in 2021 is optimistic, and many believe it will surpass its current all-time high (ATH) of $0.86 this year. With continuing advancements and enhancements to the FET environment, it may have a bright future in 2021.
What does Fetch.AI do?
Fetch.ai, a Cambridge-based artificial intelligence research lab, is developing a decentralised machine learning platform built on a distributed ledger that enables safe worldwide data sharing, connectivity, and transactions.
What is the Fetch.AI token?
FET is an Ethereum-based token that supports apps on Fetch’s platform, enabling users to use artificial intelligence and autonomous agents in manufacturing and supply chains.
Disclaimer : Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered as investment/financial advice from CoinSwitch. Any action taken upon the information shall be at user's own risk.