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2 Top Artificial Intelligence (AI) Cryptocurrencies That Could Skyrocket in the Bull Market
There has recently been a surge in investor interest in projects that operate at the convergence of the artificial intelligence (AI) and cryptocurrency spaces. In 2024, as enthusiasm for AI has reached new heights, many cryptocurrencies touting themselves as AI-related solutions have seen significant gains.
While the intersection of these technologies presents intriguing possibilities, the recent surge in interest may have inflated the value of many AI-branded cryptocurrencies. In typical crypto market fashion, amid the noise, only a handful of these projects are likely to stand the test of time and retain their value.
In my opinion, Give back (CRYPTO: RNDR) and Bittenseur (CRYPTO:TAO) hold real long-term growth potential and offer real utility beyond the hype.
Image source: Getty Images.
The future of AI computing
The rendering is a blockchain network which aims to democratize access to the resources necessary for rendering content, in particular video cards (GPU). Founded in 2017, Render was born from the ambitious idea of using blockchain technology to revolutionize graphics rendering.
Rendering – the process of creating highly realistic images from 3D models – requires a lot of time and equipment, especially to meet the high visual standards imposed on viewers for today’s cinema, video games and other virtual creations ‘today. Render’s blockchain connects users who need GPU computing power with those who have it, allowing creators to produce high-quality 3D content without the need to purchase expensive hardware.
Render’s dynamic pricing system rates each GPU workload for rendering and efficiently distributes project tasks among available GPUs on its network. A sophisticated algorithm optimizes resource allocation, with selected GPUs replicating the design and producing the required result. Content creators compensate GPU providers using RNDR tokens, based on the complexity of the rendering task and resource usage.
Beyond its technological potential, Render has a solid token model that should strengthen its value. Following a burn and mint system, users pay for rendering tasks with dollars, then an equivalent amount of tokens are burned. The total supply that can be created is capped at 536,870,912 tokens, and approximately 70% of these are currently in circulation. Private sales were minimal during its early years, with the vast majority of tokens in public hands, which is a real rarity these days.
While Render initially aimed to revolutionize graphics rendering, its innovative design offers vast potential for various AI applications as well as in the metaverse. For creators looking to leverage generative AI to create videos, animations, and photos, Render’s distributed network could prove invaluable. Additionally, as the spatial web – aka the metaverse – continues to evolve, the demand for GPU resources to produce high-quality 3D renderings and photorealistic holograms will increase.
The story continues
The birthplace of decentralized AI
Bittensor represents a decentralized network of artificial intelligence models. Its miners form the backbone of the network, providing users with access to a diverse range of models to accomplish various AI tasks.
To understand Bittensor’s capabilities, let’s compare it with ChatGPT. Although renowned for its human responses and widespread adoption, ChatGPT is not without limitations: it could be described as akin to a single student in a class who has broad knowledge, but lacks depth in nuanced topics. Bittensor, meanwhile, offers access to a multitude of AI models, each specialized in distinct tasks, giving users access to an entire “university” rather than a single “student.”
Additionally, Bittensor fosters a collaborative environment in which models can learn from each other, breaking down the silos that confine traditional AI models like ChatGPT. This approach not only mitigates resistance to censorship, but also promotes greater capabilities in these models. Essentially, Bittensor aims to be the AI equivalent of Bitcoin (CRYPTO:BTC), with miners being rewarded for providing access to AI models, and users benefiting from decentralized and reliable access to these models.
It also took a page from Bitcoin’s book in the form of its monetary policy. Like Bitcoin, Bittensor has a capped supply of 21 million coins and periodically undergoes halvings that reduce the rate of production of new coins. There are currently only 6,609,871 coins in circulation; the rest are expected to be released over the next 22 years.
In a landscape dominated by big tech companies, Bittensor promotes an AI future built on innovation, censorship resistance, and decentralization. Its future applications could span industries from healthcare and finance to education and entertainment, opening new possibilities for AI-based solutions and providing users with reliable access to advanced AI capabilities.
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RJ Fulton has positions in Bitcoin. The Motley Fool has positions and recommends Bitcoin and Render Token. The Mad Motley has a disclosure policy.
2 Top Artificial Intelligence (AI) Cryptocurrencies That Could Skyrocket in the Bull Market was originally published by The Motley Fool