In addition, the companies are hoping that the partnership will help them become market leaders in optimizing high-performance networks such that the devices and the infrastructure that power IoT can act independently without direct human inputs in exchanging data and communications. The companies are focusing their R&D efforts on creating trustless environments, digital identities, and developing technologies that facilitate autonomous interaction of autonomous agents in an IoT world. The partnership agreement will see both companies continue their collaboration at a deeper level to eliminate potential roadblocks on the path to building a machine-to-machine economy. One of such moves is the memorandum of understanding (MoU) signed between Fetch.AI and T-Labs, the innovative wing of Deutsche Telekom. Nonetheless, the startup is making strategic moves to reassure its investors that it is committed to bringing its project from ideation into flawless execution. The price of its FET token is down about 50% from its launch price of $0.40 to around $0.17. In terms of trading performance, Fetch.AI hasn’t delivered a particularly impressive performance. Matic Network (MATIC) for instance, another Binance Launchpad alumni soared more than 8000% in less than a month after its token became available for trading as seen in the chart below. More interesting is the fact that BTT token has gained more than 200% from $0.000516 to $0.001641 since it became available for trading on exchanges till date (see chart below).Īdditionally, the positive performance of BTT is probably fueling positive market sentiment for other tokens coming out of Binance Launchpad. There’s also a collaboration with LiquidChefs, an on-site food beverage services company, to enable long-term AI-powered supply chain services and increase supply chain transparency through the use of autonomous economic agents.BitTorrent’s BTT token was the first Binance Launchpad project to hit the market and its trading price of BTT has jumped more than 600% from its launch date. The platform enables groups of creators to use machine learning to generate NFTs automatically. It also entered the non-fungible token (NFT) market, launching the Colearn Paint NFT platform. It has announced a collaboration in research and development with FinTech platform Algbra to bring DeFi services to underserved minority communities. Source: TradingView, Binance Future Potentialįetch.ai is constantly upgrading by stepping into several partnerships, indicating massive potential for the long-term. To prevent a bearish scenario though, it will certainly need to hold the golden pocket support at $0.36-$0.37. FET, however, may want to test short term resistances at $0.42 and $0.4, to gain more fuel for an upwards move. That’s a gain of 50%, clearly indicating a bullish trend that may continue as Bitcoin leads the crypto market into positive sentiment. This enables the Fetch.ai network to function as a layer-2 network for legacy blockchain networks as well as an interchain bridge to the outside world.įET is currently trading around $0.45, having risen from $0.3 at the beginning of March. It allows advanced cryptography and machine learning logic to be implemented on-chain. In UPoW, the order of transactions is determined by the work performed between the generation of two blocks.īased on the Cosmos blockchain’s framework, the Fetch.ai blockchain is an interchain protocol that uses a high-performance smart contract language (Cosmwasm). It generates new blocks in a manner similar to regular Proof-of-Stake protocols. The platform is thus emerging as the foundation of future decentralized digital data marketplaces.įetch.ai uses a unique consensus mechanism referred to as Useful Proof-of-Work (UPoW). These autonomous digital agents will perform the majority of the tasks that are currently performed by users. They have developed agents that are essentially tools to perform a variety of economic tasks for their users. Fetch intends to allow users to automate transactions to improve efficiency in this space. Marketplaces work best when there is no friction in their transactions.
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