The convergence of artificial intelligence (AI) and blockchain technology has birthed a thrilling new wave of projects, tokens, and protocols.
Core blockchains like Solana, Ethereum, and BNB chain are becoming home to a rich and diverse array of decentralized applications (dApps) that are using AI in cool ways. But here’s the funny part: they’re also increasingly becoming AI agents themselves, toying with the code and data that comprise the layer-1 and layer-2 blockchains. Not to be outdone, Arbitrum and Base have also been asserting AI influence across their networks.
Solana is at the forefront of merging AI technology with blockchain. It has a total market cap of $3 billion, meaning its blockchain isn’t just for DeFi projects anymore; it’s a hub for artificial intelligence-oriented blockchain projects. A range of interesting AI tokens has emerged on the Solana blockchain. Here are a few: $fartcoin, $ai16z, $arc, $griffain, and $anon. Covering a range of use cases, from the decentralized AI model promised by $fartcoin to the innovative applications in gaming and data analysis signaled by $anon, these Solana-based tokens offer a glimpse into the future.
Solana’s success in drawing AI-driven projects appears to be a direct result of its architecture. Said to be “well-suited for supporting high-performance, low-cost applications,” Solana is an ideal platform for not just AI but also a range of blockchain applications that lack that crucial scale-up capability. And while all but a handful of blockchain platforms seem to be attracting the same sorts of projects (crypto), Solana’s also becoming a medium for the kinds of projects that you see on the cover of Wired.
Another blockchain that has recently captured significant attention, Base, is quickly becoming a key player in the AI space. With a total market cap of $2.53 billion and a strong 41.28% mindshare, it has rapidly seen adoption from AI projects. The network hosts a number of tokens that are virtual in nature and part of a range of applications across the AI and decentralized finance space, such as $virtual, $fai, $aixbt, and $vvv. These applications span a number of sectors, including gaming, finance, and what we might broadly term “virtual assets.”
The collaboration of Base with major blockchain projects and its pledge to build a scalable and secure ecosystem for decentralized applications have been the principal drivers of its growth. With increasing numbers of AI projects now choosing to build on Base, its market cap and name recognition are expected to continue to ascend, making it a contender with Solana for the title of the leading blockchain for AI innovation.
Even though Binance’s BNB blockchain has a lesser market cap of $755 million and a smaller snippet of mindshare at 9.81%, it nevertheless plays a substantial role in our burgeoning AI market. BNB is where several AI-poweed tokens live, such as $cgpt, $bac, $singularry, and $bid. This fact alone demonstrates that even blockchains with less of a presence can give AI developers unique opportunities to build and scale their products. Indeed, the BNB network, which is still in the early innings of the AI game, has positioned itself well for future growth based on three primary factors: security, scalability, and liquidity.
Low costs and speedy transaction times make BNB an enticing choice for developers looking to build AI applications. These advantages are the same ones that have drawn builders and users to Binance Chain in its relatively brief history. Despite BNB’s market cap being dwarfed by those of Solana and Base, its presence—along with that of its smarter sibling, BNB Smart Chain—puts it in contention for a significant place in the development of the AIGC sector.
The largest blockchain by market capitalization, Ethereum, has also been witnessing an upsurge in something else—a number of AI-driven applications emerging on its network. Commanding a market cap of $747 million and holding a mindshare of 3.3% among the public, Ethereum is an appealing choice for AI developers who want to create the next generation of decentralized applications. Tokens such as $olas, $cx, and $eai are starting to gain some traction in the marketplace. The emergence of these tokens serves as proof of Ethereum’s increasing use by AI mavericks in the creation of the next generation of AI-driven applications.
Nonetheless, Ethereum’s elevated transaction fees and reduced speed relative to new blockchains, such as Solana and Base, could create a set of not insignificant countervailing conditions for developers seeking to use the Ethereum blockchain as a platform for the large-scale deployment of AI. Even so, Ethereum’s stability and general reliability as a top-tier blockchain and its ongoing transition to the next iteration of that blockchain, colloquially dubbed Ethereum 2.0 (or Eth2 for short), could, in the medium to long term, make it a go-to platform for AI project development on the blockchain.
Finally, Arbitrum, with a total market cap of $105 million and a mindshare of just 0.8%, is proof that even smaller blockchains can access the lucrative, growing AI market. The Arbitrum network plays host to tokens like $nrn and $defai, which indicate that, while the network is relatively small, it is starting to establish itself in the AI sector and could drive future demand for its tokens and the tokens its users mint.
Scalability and low transaction fees make Arbitrum an attractive environment for developers deploying AI-driven projects, and you can see why based on this week’s news. Most of us don’t think of AI as a natural fit with blockchain technology. The two fields serve very different purposes. But if we look closer, we can see that both increasingly need the other.
An exhilarating new phase of innovation has begun, and the emergence of AI agents in the blockchain world is befitting of the term “phase shift.” When we consider Solana, Base, BNB, Ethereum, and Arbitrum collectively, they offer a unique set of features that appeal to developers of AI-driven blockchain applications. The compute offerings of these platforms, combined with the rapidly decreasing price of the necessary hardware, suggest that this is becoming a golden era for large-scale AI innovation across all layers of the blockchain.
As the artificial intelligence sector matures, the ecosystem surrounding blockchain technology will almost certainly continue to see an influx of applications powered by this new generation of smart algorithms. From play-to-earn systems to financial services, from data analytics to decentralized governance, the next big wave of innovation in the blockchain space seems set to come from the progeny of the AI revolution.
Among the more interesting developments in this arena is the rapidly increasing number of so-called “AI tokens” issued across a number of major blockchains.
Innovations in AI and blockchain technology are creating the next wave of breakthroughs with potentially huge impacts on our lives, workplaces, and the digital ecosystems we inhabit. Watch for these networks to take a central role in powering the next generation of apps that operate without central servers and are truly decentralized.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!
Image Source: fotovideostudio/123RF // Image Effects by Colorcinch
Could BlockDAG Reach $1? Keynote 3 Just Made That Prediction Feel Real BlockDAG’s third keynote…
Coldware (COLD), a next-gen Layer-1 blockchain protocol, is gaining serious traction as it rolls…
Having undergone a short retracement in the past few days, Link faced rejections two days…
Ethereum’s chart is starting to heat up, and the latest Ethereum (ETH) price analysis suggests…
Having bounced back from a major correction phase in the second week, SUI appears strongly…
The cryptocurrency market is familiar with enormous transactions, but when an address with significant assets…
