SingularityNET has teamed up with Mind Network to enhance the security and confidentiality of AI agents through innovative encryption technology.
SingularityNET has partnered with Mind Network to launch the ASI Hub, a decentralized solution aimed at improving the security and reliability of AI agents. To this end, SingularityNet integrated Mind Network’s FHE, a cryptographic technology that allows AI computations to be performed on encrypted data without requiring decryption. Thanks to the FHE technology, companies can offer AI-driven services while ensuring user data remains confidential and secure.
The adoption of FHE technology may be just the catalyst needed to revive the AI agent narrative, which has declined over the past few months, marked by the AI agent tokens’ total market capitalization dropping from its $10 billion highs to $5.74 billion at the time of writing, according to cookiefun.
AI agents are the software entities that operate autonomously or semi-autonomously to perform tasks, make decisions, or interact with users and environments. While AI tokens, on the other hand, are the digital tokens associated with these AI-powered agents. These tokens can be used for governance, access rights, computational services, or incentivizing AI-based ecosystems.
The decline in market capitalization specifically refers to AI agent tokens, meaning investor interest in these tradable assets has decreased. But this doesn’t mean that the interest in the AI agent technology itself is declining.
Crypto researcher Crypto Stream attributed the decline in AI project tokens to liquidity shifting toward large-cap altcoins, rather than project failures. He believes that liquidity may eventually flow back into AI projects, but this would require three key conditions: large caps must stop pumping, interest in AI agents must persist, and no new dominant narrative should pop up.
Apart from FHE technology potentially reviving interest in AI agents, another major development that could serve as a catalyst is OpenAI’s reported efforts to develop its own in-house AI chips with a view to reduce its reliance on NVIDIA. These chips will be manufactured by Taiwan Semiconductor Manufacturing Company (TSMC), with the final design expected to be completed in the coming months.
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