Artificial intelligence (AI), also referred to as either machine intelligence or machine learning is the process in which machines acquire the skills needed to replicate human-like tasks. A common example of AI is playing a competitive game of checkers online, where consumers are playing against the computer.
In today’s society, AI has a place of its own, as many students, professors and inventors are coming up with ways to assess whether machines can do what humans are capable of. What would it be like if a cryptocurrency was founded on the idea of AI? This is where the BitAI token comes into play.
The purpose of this review is to introduce a newly and innovative cryptocurrency that is gradually making its way into the market. Factors like its intentions, uniqueness, specifications and others will be considered along the way to ensure that consumers can evaluate whether or not it is worth investing in.
What is BitAI?
The purpose of BitAI is to reintroduce the importance of Artificial Intelligence. It came to life due to the coming together of a group of cryptocurrency traders, computer scientists and network marketeers who are believed to develop the first ever AI trading machine. The embedded AI trading machine is said to learn not only the patterns of human traders, but also how the market is doing by considering factors like the news.
Unlike most coins that are developed and owned by an individual or a team, BitAI considered a collective effort. Simply put, it is a decentralized system that benefits from the use of AI.
What Distinguishes the BitAI Token from the Rest?
In addition to the use of AI, the following list depicts several factors that makes the BitAI token far more unique:
- It can enable frictionless transactions on the BitAi exchange
- It can act as a medium of exchange and a store value
- Consumers have the potential in earning up to 46% monthly trading profit
- Allows one to aggregate daily earning when placed in the Trading Liquidity Pool
- The more tokens consumers have, leveraging the BitAI Tokens can be possible with rises in its value
What are the Technical Specifications of the BitAI Token?
The current supply of BitAI tokens that will be distributed is approximately 37.3 million with almost half that has already been pre-mined. The rate at which it can process transactions is approximately 2 minutes, which is fairly long compared to many alt coins, however BitAI seems to be far more efficient, as it does so in less time than the giant of cryptocurrencies, the Bitcoin.
Lastly, the hashing algorithm used for the BitAI token is X11. A key benefit of using X11 is its ability to preserve energy, as GPUs require 30 per cent less wattage compared to other algorithms like Scrypt and SHA-256.
Is it Too Late to Participate in its ICO?
Unfortunately, the Initial Coin Offering (ICO) has ended as of January 22, 2018. In general, ICOs are worth taking advantage of, as the prices are extremely low in the beginning stages, and can increase by the time the respective token arrives in an exchange. Since BitAI’s ICO has come to an end, consumers must wait for further news regarding the dates of availability via an exchange.
BitAI Network Final Verdict
While Artificial Intelligence has made a great mark in today’s society, it is still something fairly new, as it has not been used in a way that can meet the standards and qualities of the work humans can produce. Therefore, just like any cryptocurrency existing, BitAI can either be profitable or risky.
Many consumers might not feel comfortable with the idea of no team structure, as popularity and confidence in a coin depends on who’s behind the project. Even with the Bitcoin, many still do not know the exact individual behind it, but it has achieved great heights in terms of profits!
Nonetheless, when investing, it is best to invest an amount that one considers “little” or brings no affect if losses are incurred. For more information regarding BitAI’s roadmap, check out: https://bitainetwork.com.