SingularityNET

SingularityNET review

What is SingularityNET all about? What will you find in this review?

Mainly we will cover most of the topics we have mentioned in our main crypto reviews page.

But here's a quick summary for you:

• SingulairytNET is a decentralized marketplace for AIs
• SingularityNET is an active project with a proper team
• AGIX crypto can be bought in popular crypto exchange Binance

What's SingularityNET crypto all about?

SingularityNET was created in December 2017 when the project raised around $36 million through its public token sale in just 60 seconds.

What's the project all about?

The idea of the project is to create a decentralized marketplace for AIs. Marketplace that would it let anyone monetize AI. It would allow organizations as well as develiper to buy and sell AI algorithms.

The endgame would be to plug the "Sophia" robot directly into SingularityNET’s network, which would then power it.

In an interview with Techcrunch, SingularityNET CEO Ben Goertzel said that "Anyone can put an AI online, wrap it in our API, announce it to the network and any business that needs AI as a service can request it. /../ Then you need a good reputation system to grade the best AIs with a high rating. We need blockchain to let us do this in a peer to peer, decentralized way. P2P software that is reliable and not easily hackable and involves payment, but it would still need a distributed ledger. BitTorrent doesn’t involve payment or Identity management or high security, which is why we are doing this on blockchain."

The problem does SingularityNET try to solve

SingularityNET's mission is to develop Artificial General Intelligence (AGI) for a beneficial technological Singularity. They are pretty much trying to open-source the creaton of Artificial General Intelligence.

Is the point of SingularityNET well defined?

While the mission and goals could always be even better defined, we feel SingularityNET has done a good enough job here.

Is SingularityNET project active?

Is the SinuglarityNET project still active?

Based on what we are seeing, AGIX crypto as well as the project itself are both still very much active.

From a negative side, Singularitynet subreddit is banned due to being unmoderated.

Also the last news on their website is from August 2022 at the time of writing this review.

But they are updating their blog at least once each week. So that's a very good sign.

Is the SingularityNET legit project?

Based on my research, SingularityNET is definitely a legit project. They have a great team, great mission, great goals.

Whether they will success or not, nobody knows, of course.

But their partners include Cardano, Ocean Protocol, Epik Protocol, Cisco. So not a bad list at all.

What seems to be the general opinion of the crypto?

Based on SingularityNET porject reviews on other websites and based on comments on their twitter page, the general view of the project is positive.

SingularityNET team - lead by Dr. Ben Goertzel

Who's the team behind the project? SaingularityNET core team consists of CEO and Chief Scientist Dr. Ben Goertzel and co-founder Dr. David Hanson.

There are also:

• COO Janet Adams
• CFO Mario Casiraghi
• Chief AI Officer Dr. Matt Ikle
• Chief Blockchain Officer Sridhar Kolapalli
• VP of Product Jan Horlings

SingularityNET is very open about their team

Not every crypto shares all the names and faces involved in the project. But that's exactly what you actually want to see.

While crypto space in general is built on anonymity, when it comes to cryptocurrencies and crypto projects themselves, you do actually want to know the people behind it.

That gives the project more legitimacy.

What are the advantages of AGIX crypto token?

AGIX is a utility token, used for transactions at the decentralized AI Marketplace while the holders of AGIX can also participate in governance decision making within the SingularityNET organization.

AGIX runs on multiple chains such as Ethereum and Cardano.

And of course, there are staking options as well as airdrops.

Where can you buy AGIX cryptocurrency?

Right now you can buy AGIX from Binance, Kucoin, Hotbit, or using UniSwap (V2).

AGIX crypto transaction fees

AGIX crypto deposit and withdrawal fees and minimums - how high or low are they?

The fees as well as minimum AGIX withdrawal amounts depend on the exact exchange.

So unfortunately I cannot give you any specific number right now.

SingularityNET Energy Consumption

How much energy do AGIX transactions consume?

There's a consensus that some cryptos (such as Bitcoin) might be consuming too much energy per transaction. Although that might not always be true, considering the fact that mining is what actually consumers energy and the actual transactions don't consume much energy even in case of Bitcoin.

While I can't find any exact figures on how much energy AGIX transactions actually use, it would be safe to say that it should be at around the same level as Cardiano (ADA).

AGIX crypto maximum price potential

How much potential does AGIX have? Meaning, how much can it go up?

Firstly, it could easily go down instead up.

Secondly, nobody knows exactly what the maximum price of SingularityNET token could be.

But having said that, we can make simple calculations and based on that I can give you the maximum potential price if AGIX before it would have to become more popular cryptocurrency than Bitcoin (something that is very unlikely to happen).

AGIX price right now: €0.635284

Maximum potential: €2224.01

This means that very theoretically, the price could go up 3500.8x times before SIngularityNET would have to overtake Bitcoin.

Would I put SingularityNET crypto in my own portfolio?

Yes. In fact, I already have AGIX crypto in my portfolio. And after doing more research about it, I plan to add to my holdings.

Well, I mean once I get some money to do that.

Author: Eli Fitsmined
Eli started buying an trading cryptocurrencies when Bitcoin was at 50k. Now he is mainly trying to find the next crypto gem among the AI and Big Data cryptos. Why? Because he believes these cryptos have potentially more potential than many others.