As crypto mania returns in full force with Bitcoin flirting at its all-time high (ATH), Pepecoin (PEPECOIN) is also enjoying the greens. Amidst the ongoing bull market, Pepecoin’s supply has also been reduced by 8%, making the meme coin more valuable.
This deflationary burn event was launched recently in preparation for the eagerly anticipated $Based mainnet in November.
PEPECOIN tokens were burned in exchange for Brain Credits ($BCRED), as a result of which 30% of the $BCRED supply is now circulating in the market. Users will soon be able to redeem their $BCRED and mint Brains.
Brains are the subnets that drive the innovative BasedAI Network by enabling anyone to have a stake in AI models, promoting decentralized and inclusive AI development.
An AI model called ‘The TFT Enforcer’ has also been released, connected to the X (Twitter) account, and linked to the Solana and Ethereum blockchain. This AI model is goal-oriented and is capable of tweeting, whose proof is stored on these two popular chains.
By combining blockchain with AI, Pepecoin’s BasedAI project aims to completely transform the AI world, which is facing the threat of centralization, much like Web2, where a handful of companies control the majority of power.
BasedAI aims to use blockchain technology to revolutionize the way AI models are owned and participated in. And this has garnered the project a lot of attention in the AI conversation that is currently happening in the crypto space.
Over the past few months, AI has become the new narrative capturing the market interest. But it isn’t a fleeting one. A lot of capital is being poured into the crypto AI stack, while development in the sector has led many major players to emerge.
According to publicly-listed crypto exchange Coinbase, crypto can help enhance the transparency, accessibility, and use cases within AI.
“The convergence of crypto’s efficiency, borderless nature, and programmability with AI has the potential to transform how humans and machines interact with the digital economy, including by enabling users to have sovereignty over their personal data,” the largest crypto exchange in the US noted in its blog “Demystifying the Crypto x AI Stack.”
On-chain AI and decentralized AI are two core sub-segments of the crypto and AI stack, as per Coinbase, which believes crypto’s permissionless and composable infrastructure can unlock democratized access to AI resources, collaborative model development, verifiable inference, and cryptographic signatures for content provenance and authenticity among other use cases for AI.
Coinbase further segmented the Crypto x AI landscape into four layers: compute, data, middleware, and applications. It listed Based Labs in the middleware category, which are networks/platforms enabling the development, deployment, and hosting of AI models.
The exchange attributed this category “very promising,” driven by the long-term demand for AI services and a core focus for its investment arm.
This mention from the $46.2 billion market cap Coinbase showcases that BasedAI is making a lot of waves in the crypto sector with continued development and innovation. With its mainnet launch around the corner, BasedAI is certainly ready to transform AI development and take charge of the Crypto x AI movement!
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