What is Fetch.ai (FET)?

A decentralised machine learning network will be built using the Fetch.ai (FET) decentralised blockchain technology to connect diverse digital economies and power intelligent autonomous agents. With the help of the platform, people and businesses can use smart agents—programmable artificial intelligence (AI) algorithms—to carry out tasks and communicate with one another in an unreliable way.

The History of Fetch.ai

The founders of Fetch.ai, Humayun Sheikh and Toby Simpson, started the company in 2017. In a 2018 initial coin offering (ICO), the project raised $6 million, and its native token FET was released in February 2019. The Proof-of-Stake (PoS) consensus process is used by Fetch.ai, which is built on top of the Ethereum blockchain and provides network security.

The Use Case of Fetch.ai

The use case for Fetch.ai is to make it easier to build decentralised machine learning networks that let intelligent agents carry out difficult tasks and communicate with one another on their own. Individuals or organisations can use these agents to carry out a variety of tasks, including data analytics, supply chain management, autonomous mobility, and decentralised finance (DeFi) applications.

In order to perform tasks, agents can access and utilise external data sources and services through the Fetch.ai platform's marketplace for data and services. With payments made in FET tokens, this market is meant to encourage the exchange of information and services between agents.