The Fetch.ai network is a platform that is created to bridge the existing gap between devices and algorithms operating under the Internet of Things system so as to allow learning on the platform collectively. The network was developed on a system consisting of a high-throughput shared ledger system and also provides a series of smart contract advantages which allow for the deployment of artificial intelligence and machine learning solutions for the problems of decentralization in the industry. The tools provided by the system are built under open-source principles and aid the users of the platform in creating the entire ecosystem infrastructure, while also deploying commercial models.
The Fetch.ai system according to its design protocol is a Defi digital expression of real-life application where independent software agents are contracted to perform specific practical economic tasks. According to the creators of the platform, it was developed as an ERC-20 token, making it part of a multi-chain asset. The platform lets subagents such as IoT devices execute tasks, some of which include providing data or service and earning tokens in exchange for the services.
Who are the Founders of Fetch.ai (FET)?
The Fetch.ai network was established by a series of professionals in the field namely Toby Simpson, Thomas Hain, and Humayun Sheikh.
Humayun Sheikh is a well-respected cryptocurrency enthusiast who has been actively involved in the world of blockchain technology for a while. He obtained his first degree from the NED University of Engineering and Technology in electrical, electronics, and communication engineering. Later we went on to the Cambridge Judge Entrepreneurship Center where he obtained a certificate in Business management. He went on to land an executive position in several organizations including Mettalis Group. Then he went on to establish a state-of-the-art machine learning and artificial intelligence system known as itZme. In 2027, he established the Fetch.ai platform where he has served as its CEO till present.
Other founding members of the Fetch.ai network include Toby Simpson who is currently serving in the capacity of a COO. Prior to the establishment of Fetch.ai, he served as the CTO of Ososim Limited and also headed the department of software design at DeepMind. Thomas Hain serves as the CSO of the network and just like the other co-founders, he gained experience in the past as the director of Koemei.
What is Fetch.ai (FET) used for?
According to the founding team behind the creation of the Fetch.ai platform, they stated that a platform is essentially an unlimited number of markets that require an enormous amount of manual inventions. The team also stated that the autonomous economic transactions offered by the network are positioned to provide an almost frictionless marketplace whose operations are executed with high speed.
In the core protocols of the Fetch ai system, it is almost absolutely reliant on its modified system that integrates several components of an intricate system, as well as ease of integration and decision making through the use of ML/AI outcomes without requiring the users to have an in-depth understanding of ML/AI techniques. The system also incorporated a collective intelligence platform made of human and machine intelligence that has the sole purpose of creating non-siloed models of artificial intelligence, thus leading to an improvement in the quality of decision-making through the system.
What Is the Unique Point of Fetch.ai (FET)?
The Fetch.ai platform, just like other blockchain-based systems has a dedicated utility token that was constructed to find, create, deliver and aid independent economic agents while also maintaining its position as being an integral part of smart contracts as well as oracles within its ecosystem.
Through the usage of FET tokens by the participants on the network, they are able to develop and deliver their agents on the network. By making payments through FET tokens, developers can access a series of machine-based utility services which can be used in the training of independent agents and the deployment of intelligence on a collective front.
The Fetch.ai network has its enabling protocol divided into four main elements, all of which include:
- The Open Economic Framework — This provides the network with a series of discovery and search functions to serve the agents.
- The Agent Framework — This makes provision for modular and components that are reusable, which aid in the development of multi-agent systems.
- The Agent Metropolis — This cuts across a range of smart contracts, all of which are operated via a WebAssembly (WASM) virtual machine which is also used in the maintenance of the immutable state of records and agent agreements.
- The Fetch.ai Blockchain — This system is a combination of game theories and multi-party cryptography all of which are used in the provision of security for the network. It also allows for a census that is censorship-resistant and rapid chain syncing for agent applications.
How many Fetch.ai (FET) coins are in circulation?
FET is the dedicated cryptocurrency token of the Fetch.ai network. The token, upon creation, had a max supply of 1,152,997,575 FET. Of that amount, after 2017, the circulating supply has grown and as of early 2021, it was pegged at 746,113,681FET tokens.
The token is the only form of payment accepted on the network and is used to facilitate transactions within its ecosystem. Additionally, it also has value outside the network. This has provided an avenue for FET holders to be able to make profits by trading their FET tokens with other pairs of cryptocurrencies such as Dash and Cake
Is the Fetch.ai (FET) Network secured?
The use of blockchain technology, in general, provides crypto-based platforms with the general advantage of decentralization. Apart from the security assured by the principles of decentralization, the Fetch.ai system also provides an added layer of security via differential privacy which prevents the exposure of private data sets of users during the generation of updates. The blockchain protocol used by the Fetch.ai system allows for a multi-party cryptography combination that also includes game theory, thus providing security for the network.
How do I buy Fetch.ai (FET)?
In general, the Fetch.ai platform is different from most of the other provisions that are made by innovative systems in the world of cryptocurrency. It’s a technology that provides a connecting bridge between devices and algorithms that make use of the Internet of Things and the world of learning collectively. Because of this, FET tokens have become more popular in the world of digital assets and are largely available on several exchanges. These FET tokens can easily be purchased by following the procedures below.
- The first thing is to create an account with the crypto trading platform,
- After, you will need to transfer a specific amount of fiat money to your crypto account through the funding options.
- Once the transaction is confirmed, you can purchase your VRA tokens.
Which Cryptocurrency Wallet Supports Fetch.ai (FET)?
PTPWallet Is a platform that has been expressly focused on the delivery of crypto exchange-based services to the public for a while now. The system supports a wide variety of cryptocurrencies including the Fetch token among several cryptocurrencies. The platform also offers a series of distinctive features to its users, some of which include Its over the top security protocols, as well as a highly enhanced navigation system.