SingularityNET is a decentralized marketplace for artificial intelligence (AI) built with blockchain technology, whose main mission is the development of Artificial General Intelligence (AGI). AGI aims to become a type of AI capable of learning and problem-solving as a human would. Thanks to smart contracts, it provides a decentralized platform that enables developers to offer and monetize different types of AI models and services. In this post, we’ll show you what SingularityNET is and how it aims to decentralize the development and evolution of AI.
SingularityNET is a platform designed to facilitate the commercialization, monetization, and use of artificial intelligence services. Developers and companies can publish AI models on a decentralized marketplace and charge for their use. The services offered can cover all kinds of solutions, algorithms, applications, and systems provided with AI and machine learning (ML). Some examples include services such as image analysis, text processing, data analysis, or speech recognition.
In this way, SingularityNET leverages blockchain technology to build a decentralized and open platform for accessing artificial intelligence. It is important to note that SingularityNET is not a blockchain itself but bases its platform on the Ethereum blockchain, on which it has built its services marketplace and interactions with its products and tools.
The project emerged in 2017 from the hands of Ben Goertzel, a renowned entrepreneur, computer scientist, and artificial intelligence researcher, and David Hanson, associated with the humanoid robot, Sophia.
SingularityNET’s decentralized marketplace powers an ecosystem of developers and users who connect via blockchain to access AI services. This marketplace functions as a decentralized application (DApp), where available services are visible in a unified interface for users. Services are established through Registry, a smart contract compatible with Ethereum’s ERC-165 standard.
Developers use smart contracts to register and offer their services on the SingularityNET marketplace, while users can search, evaluate, and implement any available service using APIs. To finalize payments for AI services, the marketplace uses an escrow contract, which acts as an automated commitment between both parties.
Users connect wallets like MetaMask to the marketplace to test or pay for a service, for a specified period and under conditions set by the provider. Additionally, the platform’s Daemon adapter handles maintaining the off-chain payment channel, intending to keep transactions off-chain to avoid delays or security compromises.
In this way, organizations set prices based on interactions with the model. Payments, made automatically thanks to smart contracts, are available using SingularityNET’s native token, called AGIX, or also through PayPal. Developers can manage and deploy services using the Publisher Portal within the marketplace.