What is fetch.ai? Fetch.ai is an artificial intelligence (AI)-based Blockchain project that creates a decentralized machine learning network. In this article, you can access the answers to frequently asked questions such as what is Fetch.ai, what it offers, what is FET coin, how to get it, what is it used for. As Kriptokoin.com, we did the research for you. Let’s examine the project together.
What is Fetch.ai?
Founded in 2017, Fetch.ai is a decentralized Blockchain network that provides tools and services that support the development of an AI-based decentralized digital economy. It offers technologies such as network, distributed ledger, artificial intelligence and machine learning to its users under one roof. Individual and corporate users can access artificial intelligence infrastructure services as well as perform DeFi transactions within the network. Fetch network has a native cryptocurrency named FET coin. This cryptocurrency is used within the network to access various services and technologies such as the Internet of Things (IoT).
The network allows data sharing by connecting devices and services under the umbrella of the Internet of Things (IoT). The network, which offers data sharing and machine learning through artificial intelligence technology, is used by many large enterprises. These businesses include BOSCH, FESTO, Outlier Ventures etc. is found. The platform is used for purposes such as developing artificial intelligence algorithms, designing smart cities, accessing DeFi services and deploying smart contracts. Network users can create, deploy, train agents for various purposes and create a decentralized economy.
What is a FET coin? What is it used for?
FET coin is the native cryptocurrency of the Fetch.ai network. There are versions of FET built on the Ethereum and Binance Smart Chain blockchains. FET coin enables users to use various artificial intelligence, DeFi, decentralized economy and machine learning tools within the network. Developers must own FET coins to distribute agents called digital twins across the network. FET is also used to verify transactions on the network and pay transaction fees. Performing the verification with FET indicates that the token has staking capability. FET holders can get additional token rewards at maturity by locking their holdings to a certain maturity.
In addition, companies can use FET for purposes such as creating and training the mentioned agents. To develop a decentralized economy on the network, it is necessary to own the token. At the time of writing, FET coin was the 180th largest cryptocurrency with a market cap of around $264 million. In addition, 746 million tokens were in circulation, corresponding to 65% of the asset’s maximum supply.
How to get FET coin?
To buy FET coin, it is first necessary to find a cryptocurrency exchange where the asset is listed. Currently, crypto exchanges such as Binance, KuCoin, Gate.io list FET. Investors interested in the Fetch.ai project can purchase the token by subscribing to one of these exchanges and depositing money in their wallets.