$ICP IS USING CARDANO

The Cryptoviser
10 Mar 202412:48

TLDRThe video discusses the Internet Computer Protocol (ICP) as a leading AI crypto blockchain platform, highlighting its superior compute capabilities and transaction throughput compared to other top 50 blockchains. It emphasizes ICP's partnership with Singularity Net, aiming to advance decentralized AI infrastructure. The video also addresses the discrepancy in Coin Market Cap's classification of ICP, suggesting it should be recognized as the top AI blockchain due to its robust performance and potential for AI data processing. The speaker expresses a bullish outlook on ICP, urging viewers to conduct their own research before investing.

Takeaways

  • 🚀 Internet Computer (ICP) is considered the premier AI crypto blockchain platform with unmatched compute capabilities and transaction throughput.
  • 🔗 ICP has partnered with Singularity Net, Cardano's AI platform, to enhance AI functionality within the ICP ecosystem.
  • 📊 ICP's transaction rate is impressive, with 5,200 transactions per second and the ability to perform around 80 times the computational work of Ethereum per transaction.
  • 🤔 Despite its AI capabilities, ICP is not categorized as an AI blockchain on Coin Market Cap, which the speaker finds puzzling.
  • 🌐 ICP's blockchain performance is historically better than most top 10 and top 20 blockchains, according to the Definity Foundation.
  • 🤖 The collaboration between Definity Foundation and Singularity Net aims to advance decentralized AI infrastructure and services on ICP.
  • 📝 Decentralized AI models on ICP run inside smart contracts, ensuring open source training parameters and tamper-proof inputs.
  • 💡 The initiative with Singularity Net will provide developers access to a blockchain capable of running true decentralized AI, which is ICP.
  • 💰 The partnership includes a combined grants program to fund community developer engagement and advance decentralized AI projects.
  • 📈 The speaker is bullish on ICP, highlighting its potential for AI deployment and its broader capabilities beyond AI, such as payments, transactions, and smart contracts.

Q & A

  • What is the main topic of the video?

    -The main topic of the video is the discussion on why the Internet Computer Protocol (ICP) is considered a significant player in the AI crypto market for 2024 to 2025.

  • What is the Internet Computer (IC) considered to be in the context of AI blockchain platforms?

    -The Internet Computer (IC) is considered the Premier AI crypto blockchain platform due to its unmatched compute capabilities, transaction throughput, bandwidth, and data availability.

  • What is the significance of the partnership between the Definity Foundation and Singularity Net?

    -The partnership aims to advance decentralized AI infrastructure and bring AI-based services to decentralized applications built on ICP, addressing the challenges of transparency and trust in AI tools and services.

  • How does the Internet Computer (ICP) compare to other blockchains in terms of transaction throughput?

    -ICP performs around 80 times the computational work of Ethereum per transaction, and if equalized, it could process 261,000 transactions per second on Ethereum's network.

  • What is the role of smart contracts in the Internet Computer (ICP) ecosystem?

    -Decentralized AI models on ICP run entirely inside smart contracts, making the training parameters and inputs open source and tamper-proof.

  • How does the video address the criticisms about ICP's burn rate and inflation rate?

    -The video mentions that previous videos have debunked these criticisms, suggesting that viewers should check out those videos for more information.

  • What is the purpose of the joint initiative between Definity Foundation and Singularity Net?

    -The initiative aims to integrate ICP's blockchain into Singularity Net's infrastructure to provide a transparent and verified platform for AI and Web 3 developers to run decentralized AI models.

  • Why is the video creator bullish on ICP despite other AI cryptos in the market?

    -The video creator is bullish on ICP because of its superior technological capabilities, historical performance, and potential for AI deployment compared to other AI-focused blockchains.

  • What is the video creator's stance on Coin Market Cap's classification of ICP?

    -The video creator questions why Coin Market Cap does not list ICP as a top AI blockchain, suggesting that ICP should be number one in the AI category due to its capabilities.

  • What is the video creator's advice for viewers regarding investments?

    -The video creator advises viewers to do their own research and invest responsibly, as they are only sharing their personal investment strategies and opinions.

Outlines

00:00

🚀 Internet Computer's AI Potential

This paragraph discusses the Internet Computer Protocol (ICP) as a leading AI platform in the crypto market. It highlights ICP's superior compute capabilities, transaction throughput, and data availability compared to other top 50 blockchains. The speaker emphasizes ICP's partnership with Singularity Net, Cardano's AI platform, and questions why Coin Market Cap does not categorize ICP as an AI blockchain despite its capabilities and the recent collaboration with Singularity Net.

05:01

🤖 ICP and Singularity Net Partnership

The second paragraph delves into the joint initiative between the Definity Foundation and Singularity Net, aiming to advance decentralized AI infrastructure. It explains how the integration of ICP's blockchain into Singularity Net's infrastructure will address transparency and trust issues in AI tools and services. The paragraph also mentions the collaboration's focus on enabling developers to deploy complex AI models on the blockchain and the potential impact of this partnership on the AI ecosystem.

10:02

🌐 ICP's Versatility and Market Position

This paragraph compares ICP's versatility in handling various sectors like payments, smart contracts, and real-world assets with the specialized AI focus of other platforms like Fetch AI and Pal AI. The speaker argues that ICP's broad capabilities and established infrastructure make it a strong contender in the AI blockchain space. Despite the focus on AI, the speaker also notes that ICP's position in Coin Market Cap's AI category is not as high as it should be, suggesting that if ICP were to be recognized as the top AI blockchain, its popularity could further increase.

Mindmap

Keywords

💡Internet Computer Protocol (ICP)

ICP is a blockchain platform that is highlighted in the video as the premier AI crypto blockchain. It is noted for its superior compute capabilities, high transaction throughput, and bandwidth. The video emphasizes ICP's potential as a main AI compute platform, capable of processing large amounts of data required for AI applications. The script mentions ICP's ability to handle 5,200 transactions per second, which is significantly higher than other blockchains.

💡AI Functionality

AI functionality refers to the integration of artificial intelligence capabilities within a system or platform. In the context of the video, it discusses how Internet Computer (ICP) is enhancing its AI capabilities, particularly through its partnership with Singularity Net. This integration is crucial for applications that require complex data processing and real-time responses, such as autonomous systems and AI-driven decision-making processes.

💡Cardano

Cardano is a blockchain platform that is mentioned in the video as having tapped into the Internet Computer Protocol (ICP) to bring more AI functionality to the ICP ecosystem. Cardano is known for its focus on security, scalability, and sustainability, and its AI platform, Singularity Net, is partnering with ICP to advance decentralized AI infrastructure.

💡Singularity Net

Singularity Net is a decentralized AI marketplace that runs on the blockchain. It is founded by Ben Goertzel, known for his work on the Sophia robot. In the video, Singularity Net's partnership with the Internet Computer (ICP) is highlighted as a significant step towards integrating AI services with blockchain applications, aiming to bring transparency and trust to AI outputs by ensuring that training data and parameters are open source and tamper-proof.

💡Decentralized AI

Decentralized AI refers to the concept of running AI models on a decentralized network, such as a blockchain, which ensures that the data and algorithms are not controlled by a single entity. The video discusses how the Internet Computer (ICP) and Singularity Net are collaborating to advance decentralized AI infrastructure, allowing AI models to run entirely inside smart contracts, making the training parameters and inputs open source and tamper-proof.

💡Smart Contracts

Smart contracts are self-executing contracts with the terms of the agreement directly written into code. They are a fundamental component of blockchain technology. In the context of the video, ICP's smart contracts are highlighted for their ability to process transactions and integrate with the tokenomics of the ecosystem, such as burning and minting coins based on the canister smart contracts' operations.

💡Tokenomics

Tokenomics refers to the economic structure of a cryptocurrency, including its supply, distribution, and the rules governing its use. The video touches on ICP's tokenomics, particularly how smart contracts can influence the burning and minting of tokens, which is a mechanism to control the supply and value of the cryptocurrency within the ecosystem.

💡Definity Foundation

The Definity Foundation is a nonprofit research and development organization behind the Internet Computer Protocol (ICP). The video mentions the foundation's role in overseeing ICP's development and its joint initiative with Singularity Net to advance decentralized AI infrastructure. The foundation also supports community developer engagement through grant programs.

💡AI Grants

AI grants are financial awards provided to support the development of AI projects. The video references the $5 million decentralized AI grants launched by the Definity Foundation in July 2023, which aimed to encourage projects leveraging AI on the ICP platform. These grants are part of the efforts to realize the vision for decentralized AI and to stimulate innovation in the AI blockchain space.

💡Transaction Throughput

Transaction throughput refers to the number of transactions a system can process in a given time frame. The video emphasizes ICP's high transaction throughput, which is a critical feature for AI applications that require rapid data processing. ICP's ability to perform around 80 times the computational work of Ethereum per transaction is highlighted as a significant advantage for AI computations.

💡Uptime

Uptime in the context of computing systems refers to the amount of time a system is operational and available for use. The video stresses the importance of 100% uptime for AI systems, especially autonomous systems that need to operate flawlessly. ICP's reliability and high transaction throughput are presented as key factors in ensuring consistent uptime for AI applications.

Highlights

Internet Computer (ICP) is being discussed as a leading AI crypto blockchain platform for the crypto bull market of 2024 to 2025.

ICP has partnered with Cardano to bring more AI functionality to the ICP ecosystem.

Internet Computer's technology is considered one of the main AI compute platforms on Earth.

The Definity Foundation, which oversees ICP's development, joined Singularity Net, Cardano's AI platform, for an AI initiative.

Coin Market Cap does not categorize Internet Computer as an AI blockchain, which is a point of contention.

ICP can perform 5,200 transactions per second, outperforming other blockchains in terms of compute capabilities and transaction throughput.

ICP's computational work per transaction is around 80 times that of Ethereum.

The Definity Foundation and Singularity Net have announced a joint initiative to advance decentralized AI infrastructure.

On ICP, decentralized AI models run entirely inside smart contracts, ensuring transparency and verification.

The collaboration aims to provide developers with access to the only blockchain capable of running true decentralized AI.

Dominic Williams, founder of Internet Computer, emphasizes the platform's role in hosting AI on the blockchain.

The initiative with Singularity Net is expected to further realize the vision for decentralized AI.

Internet Computer's smart contract capabilities extend beyond the blockchain, integrating coin through burning and minting.

The speaker is bullish on ICP, considering its potential in AI and other areas like payments, transactions, and smart contracts.

The speaker questions why Coin Market Cap does not list ICP as the top AI blockchain, given its technological and deployment advantages.

The speaker compares Internet Computer to other AI-specific platforms like Fetch AI and Pal AI, highlighting ICP's broader capabilities.

The speaker emphasizes the importance of not focusing solely on one specialty but rather on a platform with multiple capabilities.

The speaker concludes by reiterating their bullish stance on ICP and encourages viewers to do their own research.