Contents
In short
- Solana Foundation announced the launch of the ChatGPT add-on.
- The add-on allows inspecting transactions, buying tokens, and more.
- Solana expanded the AI accelerator program for project funding and new developments.
Artificial intelligence (AI) technology is coming to Solana. The Solana Foundation, a nonprofit dedicated to the Solana blockchain, announced Tuesday the integration of AI via an open-source ChatGPT add-on. The move makes Solana the first Layer 1 Blockchain to incorporate such technology, the organization said in a press release.
The add-on, developed by Solana Labs, is available for download on GitHub and will facilitate “understanding Solana’s data and protocols” and “display data about Solana’s computing infrastructure and DeFi projects.” The release adds that users can leverage it to buy non-fungible tokens (NFTs), transfer tokens, inspect transactions, interpret public account data, and find collections of NFTs at low prices.
ChatGPT add-on debuts in Solana
Solana Labs, the company representing the project’s founders and main contributors, unveiled the development in late April. Since then, developers in the Solana ecosystem have been beta-testing a version of the tool based on the popular AI chatbot developed by OpenAI.
The new add-on allows users to perform various tasks through the ChatGPT user interface, including verifying wallet balances, transferring tokens, and purchasing NFT. At the time, Solana Labs hoped it would make it simpler for users to navigate the Solana blockchain. Solana co-founder and Solana Labs CEO Anatoly Yakovenko said integrating artificial intelligence will make Solana “more usable and understandable.” In this regard, Yakovenko noted in today’s release:
Every developer creating consumer-facing applications should think about how their application will be interacted with through an AI model because this is a new paradigm for telling computers what to do.
Anatoly Yakovenko (Solana)
Solana Labs software engineer Noah Gundotra had similarly commented that “ChatGPT can guide its users to Solana when appropriate” by leveraging technology to understand data and protocols.
Other projects marrying AI with Blockchain include Fetch.ai, Ocean Protocol, and Chainalysis. But Solana Labs claims it is the first existing and prominent Layer 1 blockchain to adopt such functionality.
$10 million Accelerator Program to Back AI
In addition to adding artificial intelligence to Solana, the organization responsible also announced the launch of a new accelerator program for university students focused on exploring the intersection between Blockchain and AI.
The three-month program received “hundreds of applications from collaborating projects” and has already resulted in two products: a chatbot called ‘Ask Solana U,’ which answers questions about Solana development and helps find correct documentation about the project, and ‘Solana Audits AI,’ designed to improve the security of Solana-based programs.
The release added that the Solana Foundation is also increasing the amount available in its AI-focused strategic grant program to $10 million. That program started with $1 million and aimed to encourage the ecosystem to explore new use cases for machine learning models that interact with Solana protocols securely and interpretably. The program has already received 50 applications.
The relationship between Blockchain and AI
The relationship between AI and Blockchain is complex and multifaceted. On the one hand, AI has the potential to enhance the functionality and security of blockchain networks greatly. For example, AI algorithms can detect and prevent fraud, monitor network activity, and optimize transaction processing. Similarly, Blockchain can provide a secure and transparent platform for AI applications, enabling data sharing and stakeholder collaboration.
At the same time, however, potential challenges and risks are associated with using AI and Blockchain together. For example, the decentralized nature of blockchain networks can make it challenging to manage and control the deployment of AI algorithms, which could lead to unintended consequences or malicious attacks. Similarly, using AI in blockchain networks could raise ethical and legal concerns about privacy, data ownership, and accountability.
Overall, the relationship between AI and Blockchain is still evolving, and it will likely continue to be shaped by many factors, including technological advances, regulatory frameworks, and social and economic trends. As AI and Blockchain mature and evolve, it will be necessary to carefully consider the potential benefits and risks of combining these two powerful technologies.
AI and Blockchain analytics
One way to use machine learning for blockchain analytics is to employ it for anomaly detection. You can use the training of a machine learning model on typical transaction patterns and behaviors to identify any anomalies in the blockchain network. Anomaly detection can help detect fraudulent activities such as money laundering and other illegal practices.
Another application of machine learning in blockchain analytics is to use it for predictive analytics. By analyzing historical transaction data, machine learning models can be used to predict future trends and behaviors. Finding patterns in past data can be helpful for businesses and investors who want to make informed investments and other financial decisions based on blockchain data.
One way to identify patterns and relationships between transactions on a blockchain network is through clustering algorithms. These algorithms group similar transactions, making it easier to spot any suspicious activity. Machine learning can aid in network analysis, which entails examining the connections and relationships among various nodes on the blockchain network. Behavioral analytics between nodes can assist in identifying any possible vulnerabilities or weaknesses in the network. Finding the connections allow for necessary improvements to enhance the security and stability of the blockchain system.
Overall, machine learning in blockchain analytics can provide valuable insights and help detect fraudulent activities on the blockchain network. By leveraging the power of ML & AI, businesses and investors can make more knowledgeable choices about their investments and financial decisions while contributing to the blockchain network’s general safety and soundness.