When was AGIX coin issued? Learn about the origin of AGIX coin in one article

Issued on July 8, 2018, the native token of the SingularityNET platform, AGIX, facilitates transactions, incentivizes staking, empowers governance, and serves as a currency for AI services.

Oct 11, 2024 at 08:17 pm

1. AGIX Coin Issuance

The AGIX coin, native token of the SingularityNET platform, was issued on July 8, 2018.

2. Origin of AGIX Coin

The idea behind AGIX coin emerged from the SingularityNET project, a decentralized platform for the development and deployment of artificial intelligence (AI) applications. The project's goal is to create an ecosystem where AI services can be accessed and shared without intermediaries.

3. Role of AGIX Coin

Within the SingularityNET ecosystem, AGIX serves several key functions:

Transaction Fees: Miners are rewarded with AGIX for validating transactions and adding new blocks to the blockchain.
Staking: AGIX holders can stake their tokens to participate in consensus and earn rewards for securing the network.
Governance: AGIX holders have voting rights to participate in the governance of the SingularityNET network, shaping its future direction.
Payment for AI Services: AGIX can be used to purchase AI services and applications from the SingularityNET marketplace.

4. Technical Specifications

Blockchain: Ethereum
Token Standard: ERC-20
Max Supply: 1,000,000,000 AGIX

5. Overview of SingularityNET Platform

The SingularityNET platform provides a range of capabilities for AI development and deployment:

AI Marketplace: A marketplace for buying and selling AI algorithms, data, and services.
AI Framework: Tools and libraries for developing and deploying AI applications.
Community of Developers: A network of AI experts and enthusiasts contributing to the platform's growth.

6. Conclusion

The AGIX coin serves as a vital component of the SingularityNET ecosystem, enabling the efficient functioning of the platform and empowering its users with the opportunity to participate in AI development and deployment.

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