Fetch.ai (FET) is a platform developed for the purpose of connecting Internet of Things (IOT) algorithms. The name and symbol of the platform’s token is FET.
Fetch.ai (FET) is an innovative project that can change the world. It is an innovative platform that connects IoT (Internet of Things) devices and algorithms to enable collective learning.
Fetch.ai; It was founded by Toby Simpson, Humayun Sheikhj and Thomas Hain. It was created for the working principles of self-running autonomous software.
FET promises platform users to create and distribute commercial models with individual ecosystem infrastructure. In addition, it is a platform that solves possible problems in a decentralized way with its highly efficient distributed ledger infrastructure and artificial intelligence technology. The Fetch.ai team plans to enable the self-learning network to complete millions of transactions per second, which will allow for global use and countless use cases.
Fetch.ai (FET) is built on a high-throughput granular ledger and offers smart contract capabilities to deploy machine learning and AI solutions for decentralized problem solving. These open source tools are designed to help users build ecosystem infrastructure and deploy trading models.
How Fetch.ai (FET) Works
Fetch.ai, an artificial intelligence laboratory based in Cambridge, is working to provide secure sharing, connection and transfer for any data worldwide using distributed ledger technology. The open-source Fetch.ai network is open to everyone and offers access to world-class artificial intelligence based on secure datasets to perform complex coordinated tasks required by the economic world.
Networked AI-based software act on behalf of their owners. These autonomous software work to provide the best service among different ecosystems for consumers and service providers. With the power of artificial intelligence, it is possible to develop financial services, improve end-to-end product transportation services, and create smart cities.
Fetch.ai (FET) Token
The FET token is the trading medium on the Fetch.ai network, allowing EEAs to transact with each other, exchanging FET tokens for services and data or other products. This allows cross-machine transactions seamlessly.
FET will initially be an ERC-20 token, but later on, the team plans to keep FET operating on its network. When this native token is released, ERC-20 tokens will be exchanged for native tokens at a fixed conversion rate and these ERC-20 tokens will be burned. Native tokens will be released at the same time as the mainnet has a planned release in Q4 2019, but this looks like a rough time frame.
FET’s first coin offering took place on February 25, 2019 at 14:00 UTC. It sold out in just 15 minutes after the first promotion. The FET is built to be infinitely divisible, providing ease of use even in the smallest micro-operations. This will be extremely beneficial for EEAs to operate and will also allow the project to keep the coin supply low if desired.
