- By incorporating AI, this endeavor introduces innovative opportunities for comprehending and analyzing Solana’s data, protocols, and computing infrastructure.
- The Solana Foundation has made a noteworthy announcement of substantially increasing the financial support for grants focused on exploring the convergence of the Solana blockchain and AI
What is Artificial intelligence?
Artificial intelligence, or AI for short, is a type of technological advancement that aims to work like the human brain, autonomously completing functions. As a computer science, artificial intelligence technology has been a developing field of study since the 1950s. As for its use cases, AI examples include voice recognition services, self-driving cars, chatbots and more. Machine learning falls under the umbrella of artificial intelligence, representing AI that can make adjustments on its own.
Overview of the Solana blockchain
Solana is a publicly accessible blockchain that can be utilized for constructing decentralized applications (DApps). The design of the Solana blockchain emphasizes rapidity, scalability, and decentralization. The native coin of Solana is called SOL, which also serves as its ticker symbol. When discussing the “Solana price,” it pertains specifically to the value of SOL, the cryptocurrency associated with the Solana blockchain.
Solana Blockchain Embraces AI Integration
The integration of artificial intelligence (AI) into the Solana blockchain was announced on May 23 by the Solana Foundation, a nonprofit organization committed to overseeing and advancing the layer-1 Solana blockchain. This integration is made possible through the ChatGPT plugin, a project developed by Solana Labs. By incorporating AI, this endeavor introduces innovative opportunities for comprehending and analyzing Solana’s data, protocols, and computing infrastructure.
The current capabilities of the plugin incorporate a wide range of tasks within the Solana blockchain ecosystem. These tasks include purchasing nonfungible tokens (NFTs), transferring tokens, analyzing transactions, interpreting public account data, and identifying NFT collections based on the lowest available price on Solana. Anatoly Yakovenko, co-founder of Solana, highlights that this integration of AI presents a groundbreaking approach to computer instruction and suggests that developers working on consumer-oriented applications should seriously consider leveraging this technology.
Setting higher standards: Enhancing the Grants Fund
In addition to this action, the Solana Foundation has made a noteworthy announcement of substantially increasing the financial support for grants focused on exploring the convergence of the Solana blockchain and AI. The funding allocation has been elevated from its initial value of $1 million to an impressive $10 million. Developers have already reported the receipt of 50 applications for this ongoing grants program, showcasing a high level of enthusiasm and interest in this domain.
Alongside these progressions, the Solana Foundation has launched a dedicated three-month accelerator program tailored for university students. This program offers a unique opportunity for a complete cohort to explore and experiment with blockchain and AI technology. The developers mentioned that this initiative has garnered hundreds of applications from project contributors, and it has already yielded a chatbot called ‘Ask Solana U’.
Recently, the Solana ecosystem has witnessed comparable initiatives with a focus on AI. Hivemapper, for instance, introduced AI Trainers in the previous month, enabling the transformation of real-world imagery into comprehensive digital maps. These maps encompass essential street information such as speed limits, warning signs, and other crucial details.
Solana developers report that protocol contributors have initiated a staggering 5.7 million AI training reviews, achieving consensus on 500,000 objects.
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