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FET is an Ethereum token that powers Fetch.ai, a decentralized machine learning platform for applications such as asset trading, gig economy work, and energy grid optimization. Fetch.ai’s first decentralized finance application helps Uniswap users automate trading according to predefined conditions.
Fetch.ai (FET) is a decentralized machine learning network that aims to democratize access to artificial intelligence (AI) technology. Launched in 2019, Fetch.ai aims to provide a permissionless network where anyone can connect and access datasets using autonomous AI. The network is designed to execute tasks that leverage its global network of data, with potential applications in various sectors such as DeFi trading services, transportation networks, smart energy grids, and more. The Fetch.ai model is underpinned by its utility token, FET, which is used to find, create, deploy, and train digital twins, playing a crucial role in smart contracts and oracles on the platform.
Fetch.ai operates through a unique technology stack that includes four distinct elements. The Digital Twin Framework provides modular components that help teams build marketplaces, skills, and intelligence for digital twins to connect with. The Open Economic Framework provides search and discovery functions to digital twins. The Digital Twin Metropolis is a collection of smart contracts that maintain an immutable record of agreements between digital twins. Lastly, the Fetch.ai Blockchain combines multi-party cryptography and game theory to aim for a censorship-resistant consensus and rapid chain-syncing to support digital twin applications. The platform's core components include the learner, the global market, the Fetch.ai Blockchain, and a decentralized data layer based on IPFS.
Fetch.ai aims to provide solutions for a wide range of use cases. Its technology can be used to optimize DeFi trading services, transportation networks, smart energy grids, and any complex digital system that relies on large-scale datasets. By using FET tokens, developers can build and deploy their own digital twins on the network, accessing machine-learning-based utilities to train autonomous digital twins and deploy collective intelligence on the network. Additionally, validation nodes are enabled by using FET tokens, which assists in network validation and reputation building.
Fetch.ai was founded in 2017 by Toby Simpson, Humayun Sheikh, and Thomas Hain, and launched via an Initial Exchange Offering (IEO) in March 2019. Humayun Sheikh is the current CEO of Fetch.ai, while Toby Simpson, the former COO, now serves on the Advisory Board. Thomas Hain, the former Chief Science Officer, was a co-founder and director of Koemei before joining Fetch.ai. The Fetch.ai network uses blockchain technology, aiming to provide a decentralized network with additional privacy measures through differential privacy.
Fetch.ai differentiates from other blockchain projects through its combination of artificial intelligence (AI) and blockchain technology. Unlike traditional blockchain platforms that primarily focus on transaction processing and smart contracts, Fetch.ai aims to provide a platform for autonomous economic agents to perform complex tasks and make decisions. This approach aims to facilitate the development of advanced AI applications on the blockchain, opening up potential applications for decentralized finance, supply chain management, and other industries. And, Fetch.ai uses a consensus mechanism called Proof-of-Stake with Economic Clustering (PoS-EC) which aims to maintain the security and integrity of the network while encouraging participation in the network's growth and stability. By combining AI and blockchain technology, Fetch.ai aims to contribute to the development of a more efficient decentralized future.
Fetch.ai employs a sharded blockchain design to handle scalability and throughput on its network. This design is intended to process a large number of transactions in each shard. By running multiple shards, Fetch.ai is designed with the intention of providing scalable throughput. The project uses a consensus scheme known as the Minimal Agency Consensus Scheme, which is designed to overcome the blockchain trilemma of achieving scalability, security, and decentralization simultaneously. The protocol uses a Proof-of-Stake mechanism to construct a blockchain and a decentralized random beacon (DRB) to decide which node will add the next block to the chain. This approach is designed with the intention of preventing individual nodes from interfering with the computation of the next value. The combination of this consensus scheme with a sharded blockchain is designed to facilitate throughput and participation in the network, irrespective of wealth or access to expensive equipment.
The Fetch.ai (FET) token serves as the utility token and the primary method of interaction within the Fetch.ai network. FET is utilized for accessing services within the Fetch ecosystem and for network transaction fees. Users can participate with FET in the network's Proof-of-Stake (PoS) consensus mechanism and receive non-monetary incentives for contributing to validator nodes. The Fetch.ai team initially developed the FET utility token on an ERC-20 contract on the Ethereum network while working on the Fetch.ai native main network (Main-net). With the launch of the Fetch.ai Mainnet, the native FET became available, indicating that users operating on the Fetch.ai network utilize the native FET token. Both ERC-20 FET tokens and native FET tokens are utilized within the Fetch.ai network, and they can be moved from one to the other within the Fetch.ai network.
Fetch.ai envisions a future where technology seamlessly integrates into every aspect of industry and enterprise. It strives to foster innovation and cooperation through an open and transparent ecosystem. The platform is designed to facilitate the creation of autonomous agents capable of interacting, negotiating, and transacting with each other in a decentralized manner. Fetch.ai's future development is focused on developing further its Autonomous Economic Agent (AEA) framework, which is designed to allow AI tools to function as fully autonomous economic entities. The project also strives to contribute to advancements in technology in AI and distributed systems to support data sovereignty and facilitate collaboration among industry participants to explore potential business models and opportunities. The Fetch.ai Foundation, a non-profit organization, governs the project with a focus on supporting technical excellence, collaboration, and data sovereignty in the digital landscape.
Fetch.ai utilizes artificial intelligence (AI) and machine learning (ML) to establish a decentralized digital economy. The platform's AI network, known as Autonomous Economic Agents, connects various data sources to facilitate products across data-intensive industries such as supply chain, healthcare, travel, and DeFi. These agents are designed to automate tasks, enhance operational processes, and provide personalized experiences to users. They are "smart" because they can learn from experience, make decisions based on that learning, and adapt their behavior to changing situations, with the intention of refining their operational processes over time. Fetch.ai's AI and ML capabilities are integrated with blockchain technology, which allows advanced cryptography and machine learning logic to be implemented on-chain. This blend of technologies aims to refine the operational processes within various markets and the allocation of resources across different industries.
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Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards.
$1.7B
$158.0M
848.2M FET
55 days
#56
$3.47
-0.05%
-2.67%
-11.52%
+6.35%
-24.97%
+515.43%
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4,050 unique individuals are talking about Fetch.ai and it is ranked #30 in most mentions and activity from collected posts. In the last 24 hours, across all social media platforms, Fetch.ai has an average sentiment score of 3.5 out of 5. Finally, Fetch.ai is becoming more newsworthy, with 0 news articles published about Fetch.ai. This is a 0% increase in news volume compared to yesterday.
On Twitter, people are mostly bullish about Fetch.ai. There were 47.88% of tweets with bullish sentiment compared to 10.15% of tweets with a bearish sentiment about Fetch.ai. 41.97% of tweets were neutral about Fetch.ai. These sentiments are based on 1084 tweets.
On Reddit, Fetch.ai was mentioned in 45 Reddit posts and there were 84 comments about Fetch.ai. On average, there were more upvotes compared to downvotes on Reddit posts and more upvotes compared to downvotes on Reddit comments.
Powered by LunarCrush
4,050 people
#30
3.5 out of 5
1,084 people
47.88%
Bullish
41.97%
Neutral
10.15%
Bearish
45
84
3,827
4,095
FET/CAD (Canadian Dollar)
CA$2.69
FET/JPY (Japanese Yen)
¥301.71
FET/INR (Indian Rupee)
₹164.33
FET/BRL (Real)
R$10.06
FET/EUR (Euro)
€1.83
FET/NGN (Nigerian Naira)
NGN 2,769.53
FET/KRW (South Korean Won)
₩2,676.27
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The price of Fetch.ai has decreased by 0.05% in the last hour and decreased by 2.67% in the past 24 hours. Fetch.ai’s price has also fallen by 11.52% in the past week. The current price is $1.97 per FET with a 24-hour trading volume of $158.00M. Currently, Fetch.ai is valued at 43.30% below its all time high of $3.47. This all-time high was the highest price paid for Fetch.ai since its launch.
The current circulating supply of Fetch.ai is 848,193,895.913 FET which means that Fetch.ai has as total market cap of 848,193,895.913.
We update our Fetch.ai to USD currency in real-time. Get the live price of Fetch.ai on Coinbase.
The current market cap of Fetch.ai is $1.67B. A high market cap implies that the asset is highly valued by the market.
The all-time high of Fetch.ai is $3.47. This all-time high is highest price paid for Fetch.ai since it was launched.
Over the last 24 hours, the trading volume of Fetch.ai is $158.00M.
Assets that have a similar market cap to Fetch.ai include dYdX, Akash Network, Conflux, and many others. To see a full list, see our comparable market cap assets.
The current circulating supply of Fetch.ai is 848 million.
The median time that Coinbase customers hold Fetch.ai before selling it or sending it to another account or address is 55 days.
Fetch.ai ranks 6 among tradable assets on Coinbase. Popularity is currently based on relative market cap.
Currently, 99% of Coinbase users are buying Fetch.ai. In other words, 99% of Coinbase customers have increased their net position in Fetch.ai over the past 24 hours through trading.
Yes, Fetch.ai is currently available on Coinbase’s centralized exchange. For more detailed instructions, check out our helpful how to buy Fetch.ai guide.
Certain content has been prepared by third parties not affiliated with Coinbase Inc. or any of its affiliates and Coinbase is not responsible for such content. Coinbase is not liable for any errors or delays in content, or for any actions taken in reliance on any content. Information is provided for informational purposes only and is not investment advice. This is not a recommendation to buy or sell a particular digital asset or to employ a particular investment strategy. Coinbase makes no representation on the accuracy, suitability, or validity of any information provided or for a particular asset. Prices shown are for illustrative purposes only. Actual cryptocurrency prices and associated stats may vary. Data presented may reflect assets traded on Coinbase’s exchange and select other cryptocurrency exchanges.