Blockchain and artificial intelligence (AI) are two of the most exciting technologies today. When combined, they create powerful tools that can change many industries. As we look forward to 2023, several blockchain AI projects stand out for their innovative approaches and potential impact. Here are the top blockchain AI innovations to keep an eye on this year.

Key Takeaways

• NEAR Protocol is making waves with its focus on scalability and developer-friendly features.
• SingularityNET aims to create a decentralized marketplace for AI services.
• Fetch.ai is building a decentralized network for autonomous agents to perform useful economic work.
• Ocean Protocol focuses on unlocking data for AI by creating a decentralized data exchange.
• Numerai uses AI to crowdsource stock market predictions, creating a unique hedge fund model.

1. NEAR Protocol

NEAR Protocol is a scalable and user-friendly blockchain platform designed to make decentralized applications (dApps) more accessible to everyone. It uses advanced sharding technology to achieve high transaction throughput and low fees, addressing common issues with other blockchain networks.

NEAR Protocol is a layer-1 blockchain that aims to overcome the limitations of other networks like Ethereum. It offers higher transaction speeds, lower costs, and improved usability. The platform runs on a proof-of-stake mechanism called Nightshade, which helps provide scalable and low-cost solutions for building decentralized web apps.

NEAR leverages artificial intelligence (AI) to optimize network performance and improve developer tools. This includes automating smart contract deployment, network optimization, and security monitoring. These features help reduce development complexity and improve the overall user experience.

The native token, NEAR, is essential for transactions, staking, and governance within the ecosystem. Recent developments include the launch of the "Shroom Kingdom" play-to-earn game and a partnership with other top blockchain AI tools to watch in 2023.

NEAR Protocol’s innovative use of AI and sharding technology makes it a promising platform for the future of decentralized applications.

2. SingularityNET

SingularityNET is a decentralized protocol designed to provide access to a network of AI algorithms, services, and agents. This platform aims to create a decentralized, democratic, and inclusive Artificial General Intelligence (AGI). By leveraging blockchain technology, SingularityNET makes it easy for anyone to develop, share, and sell AI services.

SingularityNET has made significant progress in merging AI and blockchain. The platform allows AI developers to publish their tools and services in a decentralized marketplace, making these technologies more accessible to everyone. In 2024, SingularityNET joined the ASI Alliance with Fetch.ai and Ocean Protocol, forming the world’s largest decentralized network for AI. This strategic partnership aims to boost the platform’s reach and impact.

As SingularityNET continues to grow, it focuses on expanding its AI service offerings and enhancing its blockchain infrastructure. This makes it a promising project for investors looking towards the future.

3. Fetch.ai

Fetch.ai is one of the best blockchain AI technologies to watch in 2023. It aims to create an "internet of things" powered by artificial intelligence. This decentralized network allows AI agents to work for you, finding the best deals, optimizing schedules, or even trading on your behalf. The network operates using the FET cryptocurrency, which is used to pay for AI services and reward those who help the network function.

Fetch.ai stands out due to its autonomous economic agents. These agents can perform tasks independently, making the system highly efficient. The platform also serves as an interchain gateway to the rest of the blockchain universe, allowing seamless access to private datasets while performing tasks autonomously.

Fetch.ai has partnered with big names like Bosch and Ocean Protocol, showing the potential for real-world adoption of their technology. As Fetch.ai continues to enhance its AI capabilities and blockchain infrastructure, it is poised for significant growth, offering efficient, personalized, and autonomous solutions across various industries.

4. Ocean Protocol

Ocean Protocol is an Ethereum-based platform that allows users to exchange and monetize data and data-based services. The main goal of the platform is to create a more efficient AI ecosystem, with data being a key driving factor.

Ocean Protocol aims to open data to the public, reducing the monopolistic control of organizations in the data and AI sectors. By enabling trades with ERC-20 smart contract tokens, Ocean Protocol can unlock the value of data. The platform ensures open access to data, data control, and network development.

Additionally, Ocean Protocol has introduced several improvements to its ecosystem. These include launching a command-line interface for easier interaction with its services, integrating with Web3 storage solutions like Filecoin and Arweave, and expanding to the Optimism network to improve transaction efficiency and reduce costs. These developments, along with initiatives like Data Farming and Ocean Data Challenges, have boosted community engagement and innovation within the ecosystem.

Ocean Protocol is among the top companies leading the blockchain and AI revolution by enabling data exchange in a controlled manner.

Funding

Ocean Protocol has raised more than $5 million over its various funding rounds. The total amount raised is approximately $39.19 million, which includes both public and private funding rounds. Confirmed investors include Cypher Capital (Dubai), Outlier Ventures, and Cogitent Ventures.

Notable Milestones

Below are some of the most notable milestones for Ocean Protocol in 2024:

• Launched a command-line interface for easier interaction with its services.
• Integrated with Web3 storage solutions like Filecoin and Arweave.
• Expanded to the Optimism network to improve transaction efficiency and reduce costs.
• Initiated Data Farming and Ocean Data Challenges to boost community engagement and innovation.

5. Numerai

Numerai is a unique hedge fund that uses artificial intelligence to make investments in major stock markets around the world. It operates on the Ethereum blockchain and uses its native token, NMR, to reward participants.

Numerai allows developers and data scientists to showcase their machine-learning models through the Numerai Tournament. Participants submit their stock price predictions, and the best-performing models are rewarded with NMR tokens.

Key Features

• Crowd-sourced AI: Numerai leverages the collective intelligence of data scientists globally.
• Ethereum-based: The platform runs on the Ethereum blockchain, ensuring transparency and security.
• NMR Tokens: Participants are rewarded with NMR tokens for their successful predictions.

Numerai stands out as a pioneer in combining AI and blockchain technology to revolutionize the finance sector.

6. Cortex

Cortex is an AI-powered blockchain platform that changes how artificial intelligence models are used in smart contracts and decentralized applications. By integrating AI into the blockchain, Cortex allows developers to create smarter and more efficient applications.

One of the standout features of Cortex is its Cortex XSOAR 8 SaaS solution, introduced in 2023. This solution delivers advanced AI capabilities to enhance security and operational efficiency. Additionally, Cortex is set to release a new wave of innovations in June 2024, which will include the Cortex Shellcode AI Protection module. This new module is designed to provide precision AI-driven protection, making it a significant advancement in the field.

Key Features

• AI Integration: Allows for the use of AI models in smart contracts.
• Security Enhancements: Features like Cortex XSOAR 8 SaaS solution and Cortex Shellcode AI Protection.
• Developer-Friendly: Tools and resources to help developers build smarter applications.

Upcoming Innovations

Cortex is not stopping with its current offerings. The upcoming June 2024 release promises to bring even more advanced features and capabilities, further solidifying Cortex’s position as a leader in AI and blockchain integration.

Cortex is paving the way for a new era of smart contracts and decentralized applications by seamlessly integrating AI into the blockchain.

7. Velas

Velas is a blockchain platform that combines the power of artificial intelligence with the security of blockchain technology. This innovative approach allows Velas to offer a self-optimizing and high-performance network. The platform is designed to handle a large number of transactions per second, making it one of the fastest blockchain networks available.

Velas uses AI to enhance its blockchain, ensuring that the network can adapt and improve over time. This self-evolving AI technology is a key feature that sets Velas apart from other blockchain platforms. By continuously learning and optimizing, Velas can provide a more efficient and reliable service to its users.

Key Features

• High Transaction Speed: Velas can process thousands of transactions per second, making it ideal for applications that require fast and efficient processing.
• Self-Optimizing Network: The AI integration allows the network to continuously improve its performance and security.
• Scalability: Velas is designed to scale easily, accommodating the growing needs of its users.

Use Cases

Velas can be used in various industries, including finance, healthcare, and supply chain management. Its high transaction speed and self-optimizing features make it suitable for applications that require quick and reliable processing.

Velas is revolutionizing industries with its self-evolving AI and AI-enhanced blockchain technology, making it a standout in the blockchain space.

8. Matrix AI Network

Matrix AI Network, founded in 2017, is a blockchain platform that blends AI and blockchain technology to create a more efficient and intelligent ecosystem. In 2023, the platform has evolved into Matrix 3.0, integrating neuroscience to enhance its capabilities.

Key Features

• AI-Powered Smart Contracts: Matrix AI Network uses AI to optimize and secure smart contracts, making them more efficient and less prone to errors.
• Neuroscience Integration: The latest version, Matrix 3.0, incorporates neuroscience principles to improve AI model training and performance.
• Scalability: The platform is designed to handle a large number of transactions per second, making it suitable for various applications.

Applications

Matrix AI Network is used in several fields, including:

1. Healthcare: AI algorithms help in diagnosing diseases and personalizing treatment plans.
2. Finance: The platform offers AI-driven financial services, such as fraud detection and risk assessment.
3. Supply Chain: AI optimizes logistics and supply chain management, reducing costs and improving efficiency.

Matrix AI Network aims to democratize access to advanced AI technologies, making them available to smaller entities and developers.

Future Prospects

With its innovative approach, Matrix AI Network is poised to make significant contributions to the AI and blockchain sectors. The integration of neuroscience and AI could lead to groundbreaking advancements in various industries.

9. DeepBrain Chain

DeepBrain Chain (DBC) is a decentralized AI computing platform that aims to reduce the cost of AI computations. By leveraging blockchain technology, it provides a secure and private environment for AI model training and data storage.

Key Features

• Decentralized AI Computing: DeepBrain Chain uses a decentralized network to distribute AI computational tasks, making it more cost-effective.
• Data Privacy: Ensures that data used in AI computations remains private and secure.
• Scalability: The platform can scale to meet the demands of various AI applications.

Recent Developments

• Google Cloud Grant: Recently, DeepBrain Chain received a $350,000 grant from Google Cloud, enhancing its computational capabilities.
• Partnerships: Collaborations with BNB Chain, DappRadar, and Space ID to expand its AI database and services.

DeepBrain Chain is positioning itself as a key player in the AI and blockchain convergence, aiming to streamline tasks for developers and crypto enthusiasts alike.

Use Cases

1. AI Model Training: Provides a cost-effective solution for training complex AI models.
2. Data Storage: Offers secure and private data storage solutions for AI applications.
3. Decentralized Applications (dApps): Supports the development of AI-powered dApps on its platform.

Token Utility

The DBC token is central to the DeepBrain Chain ecosystem, facilitating transactions, staking for priority access, and participation in DAO governance.

10. Vectorspace AI

Vectorspace AI is a standout in the blockchain AI space, known for its innovative approach to data analysis. The platform leverages AI to create dynamic correlation matrices, which help in uncovering hidden relationships in data. This is particularly useful for industries like finance, healthcare, and biotech.

Key Features

• Dynamic Correlation Matrices: These matrices reveal hidden relationships in data, offering valuable insights.
• Industry Applications: Vectorspace AI is used in finance, healthcare, and biotech to enhance data analysis.
• AI-Driven Insights: The platform uses AI to provide deeper insights into complex datasets.

Benefits

1. Enhanced Data Analysis: By uncovering hidden relationships, Vectorspace AI improves the quality of data analysis.
2. Industry Versatility: Its applications span multiple industries, making it a versatile tool.
3. AI Integration: The use of AI allows for more sophisticated data insights.

Vectorspace AI is revolutionizing how industries analyze data, making it a key player in the convergence of AI and blockchain technologies.

Conclusion

In 2023, the fusion of blockchain and AI is set to bring about some of the most exciting innovations we’ve seen in tech. These advancements promise to make systems more secure, transparent, and efficient. As we move forward, the projects highlighted in this article will likely play a key role in shaping the future of both industries. Whether you’re an investor, a tech enthusiast, or just curious, keeping an eye on these developments could be very rewarding. The journey of blockchain and AI together is just beginning, and the possibilities are endless.

Frequently Asked Questions

What is the NEAR Protocol?

NEAR Protocol is a blockchain designed to be super fast, incredibly secure, and able to handle lots of transactions at once. It’s great for developers who want to build decentralized apps.

What does SingularityNET do?

SingularityNET is a platform that lets anyone create, share, and monetize AI technologies at scale. It’s like a marketplace for AI services.

How does Fetch.ai work?

Fetch.ai uses AI to create smart agents that can perform tasks on behalf of users. These agents can negotiate and make decisions, making processes more efficient.

What is Ocean Protocol used for?

Ocean Protocol helps people share and monetize their data while keeping control over it. It’s a decentralized data exchange platform.

What is special about Numerai?

Numerai is a hedge fund that uses AI and machine learning models to make investment decisions. It crowdsources its models, allowing data scientists to contribute their predictions.

How does Cortex integrate AI with blockchain?

Cortex allows AI models to be uploaded and executed on the blockchain. This makes AI more accessible and transparent for developers and users.

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