Fetch.ai (FET) is a EthereumA token-based project that powers the Fetch.ai network-the project aims to provide a decentralized infrastructure for automated tasks through machine learning (ML) and artificial intelligence (AI). Fetch.ai was established in 2017.
The Fetch.ai platform should cooperate with software-based economic agents to autonomously perform tasks that are usually completed by humans. In this case, decision-making autonomy will be supported by ML and AI. In addition to handling discrete tasks by themselves, these entities also aggregate their data processing results into collective intelligence-a shared knowledge base based on ML/AI.
The Fetch.ai blockchain is based on the Cosmos SDK, so it inherits some of its properties. The consensus system is an improvement of Cosmos Tendermint because it has:
- Decentralized random beacon protocol, random selection of block validators;
- Multi-signature reduces storage space requirements;
- Slot Proof-of-Stake (sPoS) — A variant of PoS to reduce computational cost.
FET tokens can be used for collateralization of validator nodes. It is also necessary to build, train and deploy software economic agents to the network to provide power for the work of oracle services and to pay transaction costs. Of course, network participants also get something from their interaction: users are rewarded through FET pledges and the work of their agents.
FET experienced a big bull market in the spring of 2021. After starting at about $0.06 at the beginning of this year, it reached about $0.82 in late March. After experiencing some turbulence, the price of FET has entered a downward trend, hitting a low of about $0.16 around midsummer.
However, by the early fall, Fetch.ai had recovered well and hit a record high of $1.19 on September 8. Although it seems unable to maintain these positions, the price of FET has been hovering around $1 ever since. So this is still a very solid achievement. Fetch.ai’s price forecast reflects this and remains positive for now.
Although it is almost impossible to perform 100% accurate technical analysis of the Fetch cryptocurrency, on this advanced technical analysis tool of TradingView, you can view the real-time aggregated FET buying and selling ratings in the selected time frame. The summary of FET/USD is based on the most popular technical indicators — moving averages, oscillators and pivots.
It is clear from the analysis cited above that the Fetch (FET) forecast is quite contradictory. There is no general consensus on the positive or negative trend of FET prices in the future. In fact, the possible future growth depends on various factors: announcements, new technical solutions for the Fetch project, overall encryption environment, legal status, etc. We would like to remind you that you must conduct your own research (DYOR) before investing in any cryptocurrency.
Disclaimer: This article should not be considered as providing trading advice. The cryptocurrency market suffers from high volatility and occasional arbitrary fluctuations. Any investor should research multiple viewpoints and be familiar with all local regulations before investing.
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