Fetch.ai (FET)

What is Fetch.AI (FET)?

Fetch.AI (FET) is a next-generation artificial intelligence (AI) protocol that uses the Useful Proof of Work consensus mechanism to build the infrastructure for an autonomous e-commerce economy. This will be an ambitious ecosystem that combines blockchain technology and artificial intelligence to create a decentralized digital network that helps economic sectors such as data, hardware, services, etc..., people, infrastructure, etc... can work effectively together.

The ultimate goal of Fetch.AI is to create a new internet economy "authorized agent" which is a combination of four elements: machine learning technology (Machine Learning - ML), and artificial intelligence (Artificial). Intelligence – AI), multi-agent systems, and decentralized ledger technology. For example, hotel booking, airline ticket booking, tour booking, etc. to supply chain technologies and services.

What problem does Fetch.AI solve?

The two big problems that Fetch.AI solves are the automation of applications and the waste of the centralized economic network. Currently, many applications can manage data but lack autonomy. At the same time, when today's trend has been shifting to a decentralized autonomous model, the fact that the economy is still following the path will easily lead to the situation of wasting resources. For example, warehouses, containers, etc. are empty.

How Fetch.AI Works

Fetch.AI has a three-layer structure to solve the two problems mentioned above. These three tiers include Autonomous Economic Agents (AEA), Open Economic Framework (OPF), and Smart Ledger (SL).

Autonomous Economic Agents

In the Fetch.AI ecosystem, economic sectors can interact with each other independently, and automatically under human control. These objects are representations of machines, services, devices, applications, etc., which help extract data resources from hardware and provide them to consumers. AEA can operate in multiple directions without limitation, including parallel and independent.

Open Economic Framework

Agents in the Fetch.AI ecosystem will call frameworks with their real-time frameworks just to focus on a few important roles. The first phase will have 2 main types of OEF: trustless and trusted.

Smart Ledger

Ledger is Fetch.AI's digital platform, giving users easy access to AI or ML. In other words, the ledger helps participants who need access to data and resources in the fastest and most convenient way to support the market to process millions of transactions per second.

Roadmap

All details of the roadmap at this link.

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