Artificial Intelligence Platform Validation Cloud has launched a new large language model on the Hedera network, potentially offering decentralized finance users the possibility of reaching blockchain data in a more accessible way.
The MAVRIK-1 AI engine was deployed on Hedera, with several other planned integrations expected during a public deployment later this year, the Cloud validation team in Cointelegraph said.
The AI engine is designed to allow users to interact with DEFI protocols and access blockchain data via natural language requests without the need for technical expertise or knowledge.
Mavrik-1 uses ONCHAIN data formed for DEFI, Stablecoins and other blockchain applications.
“Despite the taking into account of more than 50% of all onchain’s activities, access and interpret that data remain a major obstacle for most users and institutions,” said Cloud validation in Cointelegraph, saying that existing blockchain data tools like Dune, Flipside and Nansen are more difficult to grasp for users who are not paid well in industry.
Since at least 2023, blockchain companies have developed AI chatbots to help developers and users. However, as Cointelegraph reported it at the time, generalized adoption was confronted with major obstacles, in particular for intelligent contracts fueled by AI, which were hampered by high and unpredictable gas costs.
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The growing utility of AI in web3
The AI being an industry of $ 15 billions by 2030, a larger part of its activity will migrate to the decentralized web because blockchains give users greater control over computer resources and databases, according to LeewayTz, an AI development company.
This was corroborated by Ernst & Young, who reported in 2024 that “AI and Web3 could tackle the gaps in each other”.
“Web3 could help AI solve its confidence problems, and AI could help overcome the adoption challenges of web3,” said E&Y.
AI use cases have arisen throughout the blockchain industry, Cointelegraph recently reporting that a Circle co-founder launched an “AI native bank” with $ 18 million in starting capital.
The venture capital paid $ 73 billion into AI startups during the first quarter, according to Pitchbook data. More than half of the total was a single financing round in the developer Chatgpt Openai, who collected $ 40 billion in March.
Although the crypto-food venture capitals are enthusiastic about AI applications, some have expressed investment reserves until technology progresses more.
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