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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 rushed to adopt it as well. However, not all AI is created equal. Logical AI, an approach adopted by Ropehas been an integral part of Agora’s token for a long time, and that is what sets it apart from other cryptocurrencies.
Agoras ($AGRS) is the first cryptocurrency that is operated by its users in a responsible 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 artificial intelligence 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 software for construction, giving users direct control over the network.
Are other blockchains truly decentralized?
While many blockchain projects claim to have decentralized development, their methods cannot be considered sound because they ask users to vote on code patches manually or use machine learning techniques for mass voting, which are statistical in nature. Furthermore, code is implemented by a centralized development team that must be trusted and, even if trusted, cannot write code with a proof of exact outcome.
On Tau Net, users will control the development of the system by saying how they want the network to be in the form of statements that satisfy rules and changes to be implemented. The system will then calculate the agreement between the users and implement the next version of Tau Net in the next block in the blockchain.
How Agoras work
The financial aspect of Tau Net will be fully run by Agoras. Tau Net users will be able to collaborate and continuously influence every component of Agora’s tokenomics, which will make Agora the first cryptocurrency fully and responsibly driven by its users.
For example, one user may prefer a deflation system that rewards active participants in the network. Another user may actively participate in the network and prefer to be rewarded for it. The next user might want Agoras to be deflationary. Tau Net will calculate the tariff agreement on the desired behavior of Agoras and conclude that it will be deflationary by burning 50% of all transaction fees and reward active network participants by redistributing 50% of all transaction fees across all active wallets holding the token. Tau Net will then automatically adjust the tokenomics to exactly match the specification.
The benefit of Agoras
Leveraging Tau’s AI-based collaborative development technology, Agora’s tokenomics and utility will evolve to reflect users’ collective desires and will represent the total purchasing power of all increasingly available assets in the system. Initially, Agoras will be used to trade knowledge, data resources and derivatives.
User knowledge shared through discussions on Tau Net will be integrated into an extremely powerful knowledge base where users will have the ability to make every bit of their knowledge available to the network 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 a unique opportunity to profit from their knowledge effortlessly, directly and continuously.
Users will also have the ability to make available computing resources in smartphones, laptops, and tablets, such as a CPU, hard drive, and GPU, available for trading and renting to Agoras and other assets in Tau Net’s economy. Although it can be very difficult to sell a fraction of your CPU in traditional markets, in the Agoras economy even fractions of computer resources can make money. Combining millions of users’ computers will generate enormous computing resources, which can easily surpass all the servers of the largest technology companies.
Tau Net will also offer a derivatives market, where 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 access.
Benefits of AI Cryptocurrency
While many cryptocurrencies employ machine learning-based AIs, Agoras is unique in its use of logic-based AI. This approach, which is the basis of Tau technology, allows Agoras users to be in control of the network and its tokenomics, not only making it truly decentralized, but also allowing it to evolve in a good way. The use of logical AI sets Agoras apart from other cryptocurrencies and paves the way for the next era of user-controlled cryptocurrencies.
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