Advancements in artificial intelligence (AI) have been revolutionizing the cryptocurrency and blockchain sector, with AI-powered projects providing smarter, more efficient decentralized systems. This transformation is achieved through automated data analysis and decision-making processes. Among these developments are the introduction of a new data standard by The Graph, NEAR Protocol’s compatibility with MetaMask, and ASI Alliance’s announcement of a new staking platform.
The Graph Protocol, an initiative that leverages AI to enhance decentralized indexing and querying capabilities for blockchain data, has introduced a new data standard known as ‘GRC-20’. This standard is predicted to supersede traditional frameworks such as the Resource Description Framework (RDF), which is less compatible with the decentralized nature of Web3. GRC-20 aims to provide a common language for comprehension, enabling developers to create interoperable applications adaptable to the changing dynamics of Web3 technologies. Since the announcement of GRC-20 on November 21, The Graph’s GRT token saw a surge of nearly 12%.
In another development, NEAR Protocol, a blockchain network that supports AI-powered decentralized applications (dApps), has achieved compatibility with the cryptocurrency wallet MetaMask. This compatibility allows users to interact with NEAR applications directly via the MetaMask wallet. As part of MetaMask’s Snap ecosystem, this integration extends its functionality to support non-EVM (Ethereum Virtual Machine) blockchains such as NEAR. This development has made NEAR the largest AI token by market cap, according to CoinGecko, with a gain of nearly 250% since January.
Lastly, the Artificial Superintelligence Alliance (ASI Alliance) has revealed details about its staking platform, ASI Train. This platform will utilize a unique staking model for Fetch.ai’s FET tokens. Investors will have the opportunity to stake their FET tokens and earn rewards, further supporting the development of AI models across various industries. ASI Alliance, a collaborative initiative formed by Fetch.ai, SingularityNET, and Ocean Protocol, was established in March 2024 to propel decentralized AI research and development. Following the formation of this alliance, the FET token marked an all-time high of $3.45 back in March.
These developments signify substantial progress in the integration of AI and blockchain technology, offering promising prospects for the future of these industries. As AI continues to evolve, its application in the crypto and blockchain spheres is expected to generate more efficient, intelligent systems that can maneuver the complexities of the decentralized landscape.
