Start of the project - 2018
Country – Singapore
Token standard – ERC20 Ethereum
Market capitalization – around $ 23,5 mln
Total emission – 1 152 997 575 of FET coins
In circulation - 673 741 721 of FET coins
Coinmarketcap rating - №139
Maximal token price over the time - $0,432695
Minimal token price over the time - $0,030925
Project’s website - https://fetch.ai/
Blog - https://fetch.ai/blog/
Twitter - https://twitter.com/fetch_ai?lang=en
LinkedIn - https://www.linkedin.com/company/fetch-ai/
Telegram - https://t.me/fetch_ai
Fetch.AI –is a state-of-the-art project, generating the synergy of blockchain technology and AI; decentralized platform, allowing devices to connect to digital agents directly (autonomous economic agents or AEA), while providing autonomous solutions of complex tasks. Platform’s developers are actively involved in creation of eco-structures (ecosystem infrastructures), where billions of devices can autonomously and securely exchange data without any problems.
The platform simplifies the algorithms’ deployment as well as IoT and complex systems. Using the architecture of collective learning AI/ML, it provides devices and program agents with an opportunity to find each other, learn from each other and exchange values with each other, improving and optimizing solutions of daily programs by means of smart connection, machine learning and artificial intelligence.
There are billions of devices, processes and communications all over the world, that desperately require automation and connection. The majority of blockchains are not aimed at processing of such a large number of transactions, and neither of them allows its clients to learn on generated and exchanged data. This platform, created in order to increase data value by means of devices connection and collaboration in new markets creation, based on which these devices learn from one another, allows to make truly autonomous decisions. Moreover, the developers apply Smart Lager – a brand new ledger technology, ensuring the scalability, required for support of millions of operations per second.
In order to reach the consensus of transactions, Fetch.AI network uses a hybrid mechanism of PoS (Proof of Stake) and PoW (Proof of Work), named as UPoW (Useful Proof of Work) by the developers. A new block is created, using a common Proof of Stake protocol, and the sequence and transactions’ order use Proof of Work, performed between the blocks. This work is written down by means of Directed Acyclical Graph, increasing between the blocks. Group of enablement of databases’ accessibility is launched from the previous block, therefore the need of coordinator is eliminated.
The architecture of Fetch.AI comprises three core elements:
1. Autonomous Economic Agents (AEA) – program objects, that can carry out actions without external influence. These lightweight programs fulfil the set task from behalf of users, interacting with each other. They solve complicates problems and share former collaborations, therefore improving the process in the future.
2. Open Economic Framework (OEF), ensuring the support of autonomous program agents. They can be addressed as digital objects, that can make their own decisions. The objects exist in the digital world, which is dynamically reorganizing in order to ensure the optimal environment for agents’ work. To put it simply, all the AEA are placed in Open Economic Framework, that acts as a developing ecosystem, allowing agents to search, find and interact with one another. As the system initiates its development, the collective intellect, formed this way, ensures the unprecedented leadership. It allows to conduct fast and highly-reliable transactions, allowing to increase the efficiency of the ledger Fetch Smart.
3. Smart book – a new structure, integrating the elements of directed acyclical graph (DAG). In order to improve the scalability, sharding is utilized, which increases the number of transactions, while reducing the time spent on alignment of their confirmation. An additional feature of the ledger lies in opportunity of utilization thereof with permission and without it, depending on needs of a client, which contributes to industrial adaptation.
FET serves as an exchange mean in Fetch network, allowing AEA to interact with each other, while exchanging FET coins for services / data or other commodities. It allows to conduct uninterrupted transactions between the machines.
Originally, FET token is ERC20 token, however the team is planning to create own token. As soon as this native token is issued, ERC20 will be replaced with a fixed speed of transformation for native coins and will have to be burned.
The marker was created in a way so that it can be infinitely divided, which allows to easily utilize it even in the smallest microtransactions. It will be extremely useful for work of Autonomous Economic Agents, and, moreover, will allow the project to maintain the low level of coins offer upon desire. Furthermore, FET token is used for financing of sum functions of the network and stimulating the good behaviour of the Agents.
Total emission of the token amounted to 1 152 997 575 FET coins.
Private/Pre-sale was conducted from March to October, 2018, resulting at collection of $17 million; and, already on 28th of February, 2019 IEO was held on the platform Binance Launchpad, having collected additional $6 million, which represents 11% from the total emission of the tokens.
Allocation of FET tokens has passed the following way:
It’s notable, that after conduction of IEO, the exchange price of tokens has increased almost in 5 times in comparison to the price during the token-sale.
Currently, the indicators of quotations look as follows:
As one can see from the above-presented chart, the current price amounts to $0,03494 per coin.