SingularityNET (AGIX), a blockchain platform that allows users to create, share and earn by sharing (Artificial Intelligence) AI services, has revealed its Cardano staking portal will launch a beta testing version in March 2023.
Amidst the hullaballoo surrounding AI related services, the rapidly growing world of cryptocurrencies is also trotting towards artificial intelligence based blockchains. Built on the Cardano (ADA) network, SingularityNET is a blockchain-based AI project that aims to create a decentralised, open-source Artificial General Intelligence (AGI). Of late, its native cryptocurrency AGIX witnessed tremendous growth pumping a staggering 800% since the start of 2023.
A New Staking Portal
We are delighted to announce that our #Cardano staking portal will go LIVE for beta testing early next month.
Subject to successful testing and auditing programs, we are still on schedule for a Q1 release on mainnet!#SingularityNET #BuildingOnSingularityNET pic.twitter.com/tfJm9zn2dk
— SingularityNET (@SingularityNET) February 23, 2023
In the latest development, the developers behind SingularityNET took to Twitter to disclose the project’s brand new initiative after the recent AI boom.
With the new initiative, the staking portal will allow AGIX token holders to stake their tokens on the Cardano network, instead of just on the Ethereum (ETH) network. The AI based blockchain also suggested with a successful test the staking platform will be released in the first quarter on the mainnet.
According to CoinMarketCap, SingularityNET (AGIX) gained more than 5% in the last 24 hours to hover at $0.41, at print time. It seems the token is gathering steam with partnerships like Cardano and is exploring ways to bolster a high-use case for all of its developers using MeTTa, a smart contract development environment. Moreover, on February 8, Whalestat indicated that AGIX became one of the top 10 purchased tokens among the 100 biggest ETH whales in just over a period of 24 hours.
🧵 Enabling real-world use cases at scale on the #SingularityNET platform via creating a MeTTa-based DSLs focused on smart contract programming in specific industry verticals.#BuildingOnSNET #AI #Cardano pic.twitter.com/SoB7V8SAw4
— SingularityNET (@SingularityNET) February 7, 2023
Why is Agix Soaring?
The digital token began its climb on January 23, after Microsoft announced a $10 billion investment in ChatGPT, a powerful AI bot. More recently, Google also announced a $300 million investment in another AI startup, Anthropic. It seems these developments have caused AI-based blockchain projects such as SingularityNET (AGIX) to spike.
As per a recent JP Morgan survey, institutional traders are shifting their attention from blockchain to AI. More than half of the 835 institutional traders surveyed claimed that AI and machine learning will be the most important and influential technologies in the next few years. The report added,
“Crypto and digital coins, commodities, and credit are predicted to have the biggest increases in electronic trading volumes over the next year