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Artificial intelligence (AI) seems to be everywhere these days. With the rise of ChatGPT and other trending AI applications, many cryptocurrencies have been rushing to adopt it as well. However, not all AI is created equal. Logical-AI, an approach adopted by Tau, has been an integral part of Agoras token for a long time, and it is what sets it apart from other cryptocurrencies.
Agoras ($AGRS) is the first cryptocurrency entirely run by its users in a sound manner. It is the cryptocurrency of Tau Net, a user-controlled blockchain network. This unprecedented user control over the network and its tokenomics is made possible by Tau technology, which is based on the use of Logical AI – a combination of a unique software specification language and communication paradigm. The use of Logical AI allows Tau to detect and calculate agreed constraints and highlight points of agreement, disagreement, and implications across conversations in formal languages. The resulting specification is executable by Tau’s backend, creating correct-by-construction software, and giving users direct control over the network.
Are other blockchains really decentralized?
While many blockchain projects claim to have decentralized development, their methods cannot be considered sound because they ask their users to vote on code patches manually or use machine-learning techniques for mass voting, which are statistical in nature. Further, code is implemented by a centralized development team who has to be trusted, and even if trusted, cannot write code with a proof of accurate outcome.
On Tau Net, users will govern the development of the system by saying what they want the network to be like in the form of statements that satisfy rules and changes to be implemented. The system will then calculate the agreement among the users and implement the next version of Tau Net into the next block in the blockchain.
How Agoras works
The economic aspect of Tau Net will be fully powered by Agoras. Tau Net users will be able to collaboratively and continuously influence every component of the Agoras tokenomics, which will make Agoras the first cryptocurrency fully and soundly run by its users.
For example, one user might prefer deflationary system that rewards active participants in the network. Another user might actively participate in the network and prefer to be rewarded for it. The next user might wish for Agoras to be deflationary. Tau Net will calculate the collective agreement on the desired behavior of Agoras and conclude that it will become deflationary by burning 50% of all transaction fees and reward active network participants by redistributing 50% of all transaction fees across all active wallets that hold the token. Tau Net will then automatically adjust the tokenomics to accurately match the specification.
The utility of Agoras
By leveraging Tau’s AI-based collaborative development technology, Agoras tokenomics, and utility will evolve to reflect its users’ collective wants and will represent the total purchasing capability of all increasingly available assets in the system. Initially, Agoras will be used to trade knowledge, computer resources, and derivatives.
User knowledge shared through discussions on Tau Net will be integrated into an extremely powerful Knowledgebase where users will have the option to make each piece of their knowledge accessible to the network in order to exchange it for Agoras ($AGRS) and other assets. Tau Net will detect when a piece of a user’s knowledge is a solution to someone else’s problem and advertise it to them. This will give users an unprecedented opportunity to earn from their knowledge effortlessly, directly, and continuously.
Users will also have the option to make idle computer resources in smartphones, laptops, and tablets, such as a CPU, hard drive, and GPU available to trade and rent for Agoras and other assets in Tau Net’s economy. While selling a fraction of your CPU in traditional markets can be very difficult, in the Agoras economy, even fractions of computer resources can be monetized. Combining millions of users’ computers will generate enormous computational resources, that could easily surpass all the servers of the biggest tech companies.
Tau Net will also offer a derivatives market, in which, Agoras will be used to trade financial instruments such as futures and options. Agoras will also have the ability to provide risk-free interest without inflation in the token supply.
Benefits of AI cryptocurrency
While many cryptocurrencies are adopting AIs that are based on machine learning, Agoras is unique in its use of logic-based AI. This approach, which is the basis of Tau technology, allows Agoras users to have control over the network and its tokenomics, not only making it truly decentralized but also enabling it to evolve in a sound way. The use of Logical AI sets Agoras apart from other cryptocurrencies and paves the way for the next era of user-controlled cryptocurrencies.
Join Tau Net and Agoras community and learn more at tau.net.
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Source: https://news.bitcoin.com/agoras-leads-the-way-in-ai-based-user-controlled-cryptocurrency/