Converti XION XION in SingularityNET AGIX

XION is the first L1 purpose-built for mainstream adoption. **What is XION?** XION is a blockchain built for everyone, everywhere through chain abstraction. Utilizing its Generalized Abstraction layer, XION distinguishes itself by integrating complex blockchain functionalities, such as accounts, signatures, and interoperability, directly at the protocol level. This approach allows for engagement with blockchain applications without needing to understand the underlying technologies. XION is the native utility token that is used for: - Network Usage Fees: Transactions on the XION network incur fees, which are used innovatively to offset the minting of new tokens. This mechanism means that as network usage increases, the offsetting of fees could lead to a deflationary token model. - Proof of Stake Security: As a proof-of-stake network, XION relies on validators to maintain its integrity. $XION token holders can delegate their tokens to validators or stake their tokens to run their own validator nodes. In addition, instead of calculating inflation against all tokens, the XION network calculates against only staked tokens. This vastly reduces the token’s overall inflation, leading to much more sustainable economics of the network. - Governance: $XION token holders can actively participate in network governance by proposing and voting on proposals. - Medium of Exchange & Collateral: $XION can be utilized as native liquidity and collateral within the ecosystem. It can also facilitate peer-to-peer transactions across applications and accounts within the XION ecosystem. **What makes XION unique?** Generalized Abstraction Layer: XION's foundational feature is its Generalized Abstraction layer, designed to simplify blockchain technology's complexities. This innovation aims to address the primary challenges that have prevented widespread blockchain adoption, providing a comprehensive solution for users and developers. Meta Accounts: A distinctive element of XION, Meta Accounts, abstracts the traditional key model, enabling varied authentication methods. This feature facilitates a user-friendly transition from traditional web experiences to blockchain-based applications. Signature and Device Abstraction: Through a signature-agnostic approach, XION accommodates transactions authenticated via common methods like email and biometrics. This inclusivity extends to device usage, ensuring seamless interactions across multiple platforms, thereby boosting security and user accessibility. Parameterized Fee Layer: XION introduces a parameterized fee system that abstracts fees, enhancing user convenience. Furthermore, this system supports transactions denominated in stablecoins, such as USDC, enabling familiar pricing and stability. Abstracted Interoperability: Focusing on interoperability, XION ensures that its Meta Accounts are compatible across diverse blockchain ecosystems. This feature enhances the user experience by facilitating effortless cross-chain interactions through chain abstraction. **Who are the founders of XION?** Burnt is the research and development company that first began contributing to XION blockchain. Burnt Banksy, the founder, purchased a painting by the internationally famous artist Banksy, incinerated it, and then created an authenticated 1 of 1 NFT representation, selling it for more than the original physical artwork. His actions demonstrated the concept of digital scarcity on the world stage, making NFT community history and receiving universal acclaim in the process. The story was covered by leading publications including Bloomberg, CoinDesk, GQ, CoinTelegraph, BBC, CBS, HYPEBEAST, Art.Net, TechCrunch, and many others. He is often cited as one of the catalysts for NFTs as well as being cited in the wikipedia for the word NFT. **How is XION secured?** XION operates on a Tendermint-based proof-of-stake (PoS) consensus mechanism. Prominent validators help to secure the network while making it more decentralized as well. XION is backed by industry leaders such as Animoca, Circle, Multicoin, Arrington, Spartan, Draper Dragon, Hashkey, GoldenTree, Mechanism, Morningstar Ventures, Figment, Play Ventures, Valor, Sfermion, Kucoin Ventures, MH Ventures, Laser Digital (Nomura) and more.

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.