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.