Convert SingularityNET AGIX to Bitcoin20 BTC20

SingularityNET is a decentralized marketplace for Artificial Intelligence (AI). The business value of AI is becoming clearer each day; however, there’s a significant gap between the people developing AI tools (researchers and academics) and the businesses that want to use them. Most organizations need a more customized solution than what a single AI project can offer, and research projects oftentimes have trouble accessing a large enough data set to build effective machine learning. SingularityNET closes these gaps. The long-term vision of the SingulairtyNET team is to build a network of complex AI Agent interactions primarily using resources from the OpenCog Foundation. To look at this further, let’s check out their in-house built humanoid robot, Sophia. Sophia uses a combination of AI Agents that range from natural language processing to physical motor controls to operate. You tell Sophia to summarize a video that’s embedded in a webpage. To do this, Sophia sends a request to Agent A. Through its AI, Agent A knows that Agent B specializes in analyzing and transcribing video while Agent C specializes in summarizing text. Agent A pays Agent B and Agent C to perform these tasks while Sophia pays Agent A to coordinate. All the while, each Agent has updated their own AI with the network information gained from these tasks and combines it with their previous experiences and knowledge. Therefore, the collective AI of the system grows at a faster rate than any individual Agent. SingularityNET wants to build a decentralized protocol for creators and users of AI to interact with each other, to not only help individual projects benefit by leveraging the strengths of other AI systems that might handle certain tasks better, but ultimately to develop SingularityNET into a functioning AI system itself, with nodes on the network making their own decisions about how to connect services and proactively provide solutions to academic and business problems. Tokenizing the network creates an AI marketplace where AI developers and sellers can not only link with others who might assist in building more robust AI solutions, but also allow AI services and products to be bought and sold, creating revenue and establishing price points where none have existed before. The SingularityNET team boasts 50+ AI developers and 10+ PhDs. Dr. Ben Goertzel leads the group as CEO and Chief Scientist. He’s also the Chairman of the OpenCog Foundation and the Artificial General Intelligence Society, as well as the Chief Scientist at Hanson Robotics, the partner company helping bring SingularityNET to life. Dr. David Hanson, founder of Hanson Robotics, serves as the Robotics Lead. Most famously, Hanson Robotics built Sophia, the most expressive humanoid robot to date. Sophia is also a proud member of the SingularityNET team. The team recently released the alpha version of the platform and is planning on launching a public beta sometime in the middle of 2018.

What is the project about? BTC20 is a Proof-of-Stake (PoS) ERC-20 version of Bitcoin built on the Ethereum blockchain, recreating the state of the Bitcoin blockchain and token supply from 2011, when there were only 6.05 million BTC in circulation and the price was $1. With every original Bitcoin block confirmation, a number of $BTC20 tokens will be released and distributed to stakers via a verified staking contract in line with the Bitcoin release schedule. After the presale, $BTC20 holders can stake their tokens to receive a share of the staking rewards. The more $BTC20 tokens a person stakes, the higher the rewards they are going to receive. What makes your project unique? Building upon the foundations of the Bitcoin release mechanism, which is Proof-of-Work (PoW), BTC20 introduces the less energy intensive Proof-of-Stake (PoS) model that rewards participants in proportion to their staked tokens. Through this mechanism, BTC20 presents a unique opportunity for individuals to earn a substantial share of the rewards released through the Ethereum-based staking contract. The more individuals stake their BTC20, the greater their share of the released rewards. This design fosters a community-driven ecosystem, where collective action drives the prosperity of all participants. History of your project. BTC20 presale started on the 17th of July and ended on the 29th of July, raising $6,050,000 and reaching its presale goal in only 12 days. Staking of BTC20 tokens started on the 9th of August and over 40% of the supply, $2.5 million have been staked in the first 18 hours since the launch. What’s next for your project? After the presale, 14,950,000 BTC20 remain tokens were locked in the staking contract to reward staking pool participants. With every Bitcoin block confirmation, 50 BTC20 tokens are released and distributed to all participants in the staking pool. Rewards accrue in real time every 10 minutes. Similar to Bitcoin, the project will have 4-year halvings. BTC20 is programmed to reduce its simulated block rewards by 50% every four years, starting at 50 BTC20 every 10 minutes. The first BTC20 halving will be in 2025 when the rewards will be reduced to 25 BTC20 per block. The second BTC20 Halving will be in 2029 and the rewards will reduced to 12.5 BTC20 per block. The third BTC20 Halving will be 2033 when the rewards will be reduced to 6.25 BTC20 per block. What can your token be used for? The project is a great opportunity for buyers to receive staking rewards and earn some passive income. The percentage of rewards users earn is directly proportional to the overall number of tokens staked. Since BTC20 is a proof-of-stake token, buyers who decide to stake their tokens have the opportunity to contribute to the network's security as well.