A new decentralized artificial intelligence (AI)-based altcoin is surging to the upside after abruptly gaining support from the world’s largest crypto exchange platform by volume.
In a new announcement, Binance says its adding support for MyShell (SHELL), a protocol that allows users to create, share and own AI agents that can be used for professional and personal assistance as well as companionship.
News of addition sent SHELL flying as the digital asset went from a low of $0.462 on February 26th to a peak of $0.661 just a day later. SHELL has since retraced and is trading for $0.597 at time of writing, a 24.4% gain during the last 24 hours.
According to MyShell’s official website, the current crypto AI landscape is too centralized as it has closed ecosystems, a lack of incentives, and excessive restrictions, issues the projects aims to fix.
“The rise of artificial intelligence has given birth to a notable phenomenon – the closed-source model ecosystem. Led by OpenAI, these powerful yet proprietary models offer users advanced applications and services for complex data analysis and human-computer interactions. However, behind their impressive capabilities lie some lesser-known costs…
MyShell was born from a deep reflection on the current AI landscape. Our vision is to create a fair and open ecosystem where every participant can find their unique value proposition…
At MyShell, we believe every contribution is essential to our ecosystem, and every innovation deserves recognition and reward.”
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Featured Image: Shutterstock/Yurchanka Siarhei/Mingirov Yuriy