Cardano Summit 2023, held in Dubai, is set to bring together influential players in the crypto industry. Over the three-day event, participants will discuss the future of Cardano and blockchain technology as it enters a crucial phase of development. SingularityNET, a pioneering project integrating blockchain, machine learning, and AI, also made a significant announcement during the summit. They revealed the introduction of staking capabilities for their native token, AGIX. This new feature allows users to earn rewards by holding AGIX and contributes to the wider adoption of Cardano and SingularityNET.
The staking option will be rolled out to users later this month. SingularityNET has long been working at the intersection of AI and the emerging blockchain industry, making them well-positioned to benefit from the integration of these technologies. Their partnership with IOG and Cardano further solidifies their position in this space, as major companies continue to invest in AI and blockchain projects.
Janet Adams, COO of SingularityNET, and Mihaela Ulieru spoke about the Cardano Summit and the significance of their partnership in an interview. Adams emphasized the deep partnership between SingularityNET and Cardano, highlighting the positive discussions she had with members of the Cardano community. She also expressed the community’s excitement for the upcoming AGIX ADA staking solution. Furthermore, Adams mentioned the plan to bring the full SingularityNET marketplace onto Cardano as their next major step.
Ulieru elaborated on SingularityNET’s projects and the connection between AI and blockchain technology. She highlighted some of their notable projects, such as Zarqa, a language model that outperforms ChatGPT, and the Cogito Protocol, which includes Green Coin, a stablecoin focused on sustainability. Ulieru also explained why SingularityNET chose to build on Cardano, citing its technological stack as the best option.
Looking ahead, Ulieru envisions AI running on the blockchain as a solution to the privacy concerns associated with processing large amounts of data. She mentioned Cardano’s Midnight blockchain and its “dust” token as an innovation that enables the processing of encrypted data. SingularityNET is also expanding the side chain of Cardano, called Hydra, with a new implementation named Hypercycle. This development allows the processing of encrypted data while preserving privacy. Ulieru believes Cardano is the most innovative blockchain in terms of technology, making it the ideal choice for SingularityNET’s projects.
In summary, the Cardano Summit has provided a platform for SingularityNET to unveil their staking capabilities and showcase their partnership with Cardano. With their focus on AI and blockchain integration, SingularityNET is well-positioned to make significant contributions to the advancement of these technologies. The future looks promising as they continue to build on Cardano’s robust infrastructure and capitalize on the passionate and purpose-driven Cardano community.
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About the author - J-S Tremblay
I've been involved in the cryptocurrency world since 2016 and trading since 2019. I started Moon and Lambo in 2021. I'm passionate about crypto and love to share my knowledge. I hate bankers and I hope that cryptocurrency will change the financial world for the better. View full profile...
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