In the Bitcoin and altcoin market, recent artificial intelligence coins have started to attract attention. In this context, many artificial intelligence-oriented cryptocurrencies are on the market. At this point, important statements have come from the CEO of Bitwise.
A new movement in the altcoin market
Bitwise CEO Hunter Horsley shares his views in a recent tweet. Horsley says AI has caught the attention of tech enthusiasts and industry experts. Similarly, he shares his belief in the transformative power of artificial intelligence (AI) for the altcoin world. Horsley highlighted two key dimensions where AI and blockchain technology can intersect and revolutionize various industries.
Horsley’s primary focus is originality. Accordingly, there is the challenge of verifying authenticity in a digital landscape characterized by an explosion of content creation. As AI technology continues to evolve, it will generate massive amounts of images, sounds, and software. However, this increase in content will bring along the problem of distinguishing what is real and what is not. Defense against the ever-increasing threat of fraud, deepfake and plagiarism becomes crucial.
How will we overcome the problem?
Horsley also gives the solution to solve this problem. According to him, cryptographic tools such as public/private key cryptography and zero-knowledge proofs are important. Also, the foundation of the altcoin world suggests that blockchain technology could play an important role. By scaling and deploying these tools with implicit trust, blockchains can act as a trusted platform to verify the authenticity of creations, creators, and individuals. Ultimately, it can reduce the risks associated with misinformation and fraud.
The second dimension highlighted by Horsley concerns emerging needs. Accordingly, it focuses on the emerging need for autonomous AI agents that can operate, keep balances and store information without human intervention. On the other hand, artificial intelligence is developing. AI agents are becoming more capable of executing tasks and projects independently. Questions arise about their ability to handle sensitive information and securely conduct financial transactions.
At this point Horsley poses important questions. How will we trust AI agents to manage budgets and sign contracts? How will they make secure transactions with each other and entrust assets? Horsley says solutions will be key to meeting these challenges. He also draws attention to the importance of blockchain technology, stablecoins, smart contracts. He argues that decentralized finance (DeFi) and other solutions yet to be developed will become valuable. These innovations in the altcoin world will allow AI agents to interact autonomously. It will also lay out a secure and transparent framework for transacting. Ultimately, it will provide new possibilities for the exchange of value from machine to machine.
There are similar considerations
The conversation that started with Hunter Horsley’s tweet deepened. It quickly gained momentum when Circle CEO Jeremy Allaire expressed complete agreement. Allaire says that AI and blockchain technology are inherently compatible. In this context, he presents the idea that they can leverage each other’s strengths to create a more efficient and secure digital ecosystem. The source of data is highlighted as machine-generated and enforced contracts and inter-machine value exchange, areas where the convergence of artificial intelligence and blockchain can have a significant impact. There are already reports of AI bots using on-chain wallets and stablecoins like USDC for various purposes. These examples exemplify the growing synergy between artificial intelligence and cryptocurrencies as real-world applications begin to emerge.
As we mentioned as Kriptokoin.com, there are many artificial intelligence-oriented cryptocurrencies in the crypto money world. Accordingly, the top 5 altcoins include The Graph, Render Token, Injective, SingularityNet and Oasis. Next in the ranking are Ocean Protocol, Fetch.ai, iExec RLC, Numeraire and Insure DeFi.
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