Fetch.ai Price (FET)

What Is Fetch.ai (FET)?

Fetch.ai is a platform that aims to connect Internet of Things (IoT) devices and algorithms to enable their collective learning. It was launched in 2017 by a team based in Cambridge, UK.

Fetch.ai is built on a high-throughput sharded ledger and offers smart contract capabilities to deploy machine learning and artificial intelligence solutions for decentralized problem-solving.

These open-source tools are designed to help users create ecosystem infrastructure and deploy commercial models.

Who Are the Founders of Fetch.ai?

Fetch.ai was founded by Toby Simpson, Humayun Sheikh and Thomas Hain.

Humayun Sheikh is the current CEO of Fetch.ai. He is also the CEO and founder of Mettalex and the founder of uVue and itzMe.

Toby Simpson is the COO of Fetch.ai. He was also the CTO at Ososim Limited, as well as head of software design at DeepMind.

Thomas Hain is the Chief Science Officer of Fetch.ai. Before that, he was a co-founder and director of Koemei.

What Makes Fetch.ai Unique?

Fetch.ai’s utility token FET was designed to find, create, deploy and train autonomous economic agents and is an essential part of smart contracts and oracles on the platform.

Through the usage of FET, users can build and deploy their own agents on the network. Developers, by paying with FET tokens, can access machine-learning-based utilities to train autonomous agents and deploy collective intelligence on the network.

Validation nodes are also enabled by staking FET tokens, which facilitates network validation and reputation as a result.

The Fetch.ai technology stack has four distinct elements, which are:

The Agent Framework — provides modular and reusable components that aid in building multi-agent systems.

The Open Economic Framework — provides search and discovery functions to agents.

The Agent Metropolis — a collection of smart contracts that run on a WebAssembly (WASM) virtual machine to maintain an immutable record of agreements between agents.

The Fetch.ai Blockchain — combines multi-party cryptography and game theory in order to provide secure, censorship-resistant consensus as well as rapid chain-syncing to support agent applications.

When it comes to the platform’s core components, there is the learner where each participant is the learner in the experiment, representing a unique private dataset and machine learning system. There is also the global market, which is the result of a collective learning experiment, where the machine learning model is trained collectively by the learners themselves. Next, there is the Fetch.ai Blockchain that supports smart contracts which permit coordination and governance in a secure and auditable way. Lastly, there is the decentralized data layer based on IPFS which enables the sharing of machine learning weights between all of the learners involved.

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How Many Fetch.ai (FET) Coins Are There in Circulation?

Fetch.ai (FET) has a circulating supply of 746,113,681 tokens as of February 2021, with a maximum supply of 1,152,997,575 FET.

How Is the Fetch.ai Network Secured?

Through the use of blockchain technology, the network is completely decentralized. Further security is provided by differential privacy which helps avoid exposing users’ private data sets when generating updates. Fetch.ai’s blockchain also supports a combination of multi-party cryptography and game theory, providing secure and censorship-resistant consensus.

Where Can You Buy Fetch.ai (FET)?

If you want to buy, sell or trade Fetch.ai (FET), you can do so on the following exchanges:

• Binance
• BiKi
• BiONE
• BitAsset
• HitBTC

If you are unfamiliar with how purchasing cryptocurrency works, you can learn how to buy Bitcoin in our guide here.