What is FET
Fetch.ai is a Cambridge-based artificial intelligence lab building an open access, tokenized, decentralized machine learning network to enable smart infrastructure for the decentralized digital economy. Fetch.ai is collaborating with leading manufacturers of pneumatic and electromechanical systems, sensors, components, and process controls for industrial automation to transform existing digital ecosystems, using decentralized ledger technology (DLT) to bring artificial intelligence (AI) capability to blockchain. Bosch Research partnered with Fetch.ai to launch a fully functional blockchain network (v2.0 mainnet) and interchain protocol built on Cosmos SDK in March 2021 that will support the next generation of decentralized machine learning and autonomous economic agent applications. Fetch.ai uses a high-performance WASM-based smart contract language (Cosmwasm) to allow advanced cryptography and machine learning logic to be implemented on chain. This also allows the Fetch.ai network to serve as a layer-2 network for Ethereum and as an interchain bridge to the rest of the blockchain world. Fetch.ai v2.0 ledger offers full interoperability between native FET token and ERC-20 equivalent, with consensus based on Cosmos Tendermint implementation of slot Proof-of-Stake (sPoS) and a Decentralized Random Beacon (DRB). Fetch.ai and Bosch share a common vision to advance engineering strategy within the “Economy of Things” (EoT) and develop smart products that further the Artificial Intelligence of Things (AIoT) initiative to meet the growing needs of businesses and consumers. Autonomous Economic Agents, powered by artificial intelligence, can provide automation to decentralized finance that can serve the needs of a single user or aggregate millions of data points for on-chain oracles. These agent-based systems provide greater flexibility, speed and crypto-economic security than existing oracle networks. This technology enables creation of personalized oracles that maintain user’s DeFi positions using decentralized and non-custodial protocols to increase the security and convenience of crypto asset management.