This is why AI companies rely on Cardano

The strong growth of the Cardano network in recent months has been documented by a number of important partnerships. Typical among them is the field of artificial intelligence (AI), an area that can greatly benefit from blockchains.

According to AI researcher Dr. Ben Goertzel is the development arm of IOHK – ADA “very thorough and meticulous” in deploying and testing the software. Although it’s not “the fastest in the business”.

Story use blockchain Cardano

Goertzel’s company SingularityNET, which specializes in combining AI and blockchain technology, will use Cardano to develop the ERC-20 converter. They will support the migration of ERC-20 tokens from Ethereum to the Cardano blockchain. On the reasons for choosing Cardano as a partner, the researcher said:

“Code and Math Hydra are the reason why we chose Cardano as a partner. The engine is built like a spaceship that, with only minor adjustments, must continue to run smoothly in extreme and unpredictable conditions…while several other well-known blockchains like Ford Pinto 1971 are more built.”

He notes that the testnet converter is “not optimal in every way” as it continues to have some centralization issues. However, a fully decentralized Plutus-based converter is also under development.

Constantly growing

Another innovative AI-related project Cardano has been involved with is Grace. This is a humanoid nurse designed for both elderly care and general health care. This project is also collaborating with SingularityNET in the hope that using Cardano for nurse operations will bring greater efficiency and reduce processing time of biological data.

Recently, Cardano has been a hit in many ways, including the speed of development. According to Santiment data, Cardano’s GitHub submissions have reached one of the highest levels in the industry over the past few months. It is second only to Solana, the “3rd generation blockchain” competitor that is gaining attention. Interestingly, Cardano’s development scope has greatly increased since early 2022, when the network also began rolling out its first decentralized applications.

“Development activities continue to play an important role in progress development of Type Major cryptocurrencies and their development opportunities. BILLIONsending rate WOODithub remarkable from SOL, ADA and POINT currently leading“.

Focusing on these developments report Kraken’s recent research notes:

“The Cardano values ​​clearly guide the development and design decisions of the project. As a result, blockchain appears to be designed with purpose and standards in mind for delivering a decentralized, global financial infrastructure, rather than just focusing on delivering a Web3 experience.”

Curiously, analysts have recently started suggesting that ADA is undervalued at current levels. At the time of writing, it’s just over $1, down more than 10% over the past week.

The source: Ali Martinez

“Cardano hasn’t been this undervalued since the COVID incident in March 2020! The 365-day MVRV (measures the profit/loss ratio of addresses that have bought ADA in the last 365 days) shows that ADA holders have an average loss of -26%,” commented Twitter user Ali Martinez.

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