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Cryptogambling / Solana Pioneers AI-Blockchain Fusion, Amplifies Grants Fund to $10 Million

Solana Pioneers AI-Blockchain Fusion, Amplifies Grants Fund to $10 Million

Publish Date: 25/05/2023

Solana has bitten the AI bug revolutionizing the technology ecosystem. As a lot of industries are leveraging the power of AI  to serve their community better, the blockchain ecosystem seems not to be lagging.

Solana Foundation, a nonprofit committed to maintaining and developing the layer-1 Solana blockchain, announced the integration of artificial intelligence (AI) by utilizing a ChatGPT plugin developed by Solana Labs.

Developers revealed that they have made the ChatGPT plugin downloadable from GitHub, enabling easier comprehension of Solana data, protocols, and the extraction of information regarding Solana’s computing infrastructure and DeFi projects.

Solana co-founder and CEO of Solana Labs, Anatoly Yakovenko, emphasized that AI would enhance the usability and comprehensibility of the Solana blockchain.

Yakovenko stated, “Every developer constructing consumer-oriented apps should contemplate how their app will interact with an AI model since this represents a new paradigm for instructing computers on tasks.”

The Solana Grant

The Solana Foundation announced an increase in funding for grants exploring the intersection of the Solana blockchain and AI from its original pledge of $1 million to $10 million. Developers have already received 50 applications for the rolling grants program.

The Solana Foundation has launched a three-month-long accelerator program for university students, in which a full cohort actively experiments with blockchain and AI. Projects and contributors submitted hundreds of applications for the program, and as a result, the AI cohort has already created a Solana U chatbot,” developers wrote.”

Solana has experienced an increase in activity

This month, Solana has experienced a surge in activity, with some users exploring alternatives due to higher fees on Ethereum and Bitcoin. Last week, the network reached the highest number of new addresses since June 2022, with a seven-day moving average of 323,000.

Solana’s native SOL token, which faced significant declines last year during the collapse of the FTX crypto exchange, has made a strong recovery, registering a 101% increase year-to-date. According to data from TradingView, it traded at $20.03 on Tuesday, showing a 2.6% rise.

What is next?

As AI is the latest trend in the technology industry and has been adopted by all and sundry, with this latest act by Solana and traction being gained, some protocols in the blockchain industry will start adopting this.

There will also be an increase in demand for AI specialists worldwide.

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