By
Mayowa Adebajo
April 29th, 2024
Industry experts hold optimistic views that integrating artificial intelligence capabilities within its blockchain infrastructure will expand aelf’s capabilities.
aelf, a pioneering blockchain network is set to reshape the future of technology as it has unveiled its strategic pivot towards integrating Artificial Intelligence (AI) capabilities within its system. The Singapore-based blockchain entity shared the announcements alongside the news of its $50 million ecosystem fund, designated to support the AI transformation initiatives.
aelf’s Vision for a Smarter Blockchain
This transformative initiative ushers a new era for the aelf blockchain as it transitions from a decentralized network to a dynamic network empowered by cutting-edge AI models and agents. The goal is to enhance its functionalities and elevate user experiences to unprecedented levels.
According to the founder of aelf, Auric, the evolution of the network which involves the fusion of computation, large language models (LLM), and agents within the aelf blockchain represents a revolutionary achievement in the broader tech world. Auric said:
“Seven years ago, we foresaw the future of blockchain and embarked on a journey to develop modular systems, parallel processing, cross-chain bridges, and cloud-native architecture, which have since become industry standards. Now, we envision AI as the next frontier for blockchain technology and are committed to pioneering this transformation in Asia. This AI integration aims to cultivate a self-evolving system – a smarter, self-learning blockchain where each new block surpasses its predecessor.”
Powered by aelf Ventures’ Ecosystem Fund
To foster and expedite the convergence of AI and blockchain technologies, aelf Ventures, the investment arm of aelf, will allocate its $50 million Ecosystem Fund strategically to support innovative AI initiatives seeking integration with blockchain solutions.
In addition, aelf will roll out developer-friendly toolkits to empower the community to leverage these cutting-edge technologies for various tasks. Some of these tasks will include data pre-processing, model training, fine-tuning, deployment, agent development, on-chain deployment, and monetization within the aelf blockchain network.
The whole transition will integrate current projects and games hosted on the aelf blockchain into these AI capabilities. As for new projects, these will benefit from aelf’s robust foundation, offering a responsive and agile blockchain ecosystem characterized by heightened efficiency, reinforced security protocols, and advanced intelligent automation.
At the beginning of this year, CharacterX, a decentralized synthetic social network, announced it secured $2.8 million to invest in propelling AI and blockchain integration in Web3. A clear indication of the evolving future of AI in the crypto space.
Tech enthusiasts say the AI-driven transformation by aelf’s shows it is committed to promoting a culture of continuous innovation. They consider it a significant contribution to the tech space from the early days when stakeholders in the blockchain world converged in Malta at the AI & Blockchain Summit in 2018 to chart a path for the sector.
Industry experts hold optimistic views that integrating artificial intelligence capabilities within its blockchain infrastructure will expand aelf’s capabilities. Ultimately it will deliver user-centric value and drive forward the entire blockchain industry into a new era of unprecedented possibilities.