TL;DR
- Innovative Platform: The Bitcoin Virtual Machine is launching Truly Open AI, a platform that allows users to implement AI models on the blockchain, enhancing cryptocurrency applications.
- AI on Blockchain: Lead developer Punk3700 has developed a way to launch AI models on the blockchain, promoting a distributed environment for AI technology development and application.
- Storage Partnerships: The AI’s storage model is supported by partnerships with projects like Filecoin, Near, Avail, Polygon, and Syscoin, providing necessary storage layers for AI models on the blockchain.
The Bitcoin Virtual Machine (BVM), a second-layer solution for Bitcoin, is on the verge of launching a new platform known as Truly Open AI. This groundbreaking platform will enable users to implement artificial intelligence (AI) models on the blockchain, thereby expanding the potential for cryptocurrency applications.
🚨 ANNOUNCEMENT 🚨
Project Truly Open AI
– An open infrastructure for decentralized AI
– AIs that live forever onchain
– Backed by Bitcoin’s security
– AI models stored across Bitcoin, Filecoin & Near
– AI dapps built as Solidity smart contracts→ https://t.co/5FskZ1Mvif pic.twitter.com/EoGuZhbRcU
— 3700 | New Bitcoin City (@punk3700) March 19, 2024
According to Punk3700, the lead developer they’ve figured out a way to put AI on-chain. This transformative feature will allow users to launch AI models on the blockchain, fostering a distributed environment for the development and application of these technologies.
An AI model is an instrument or algorithm that is constructed based on a particular data set with the purpose of making decisions. “They are neural networks where users can create their own AI models, make money from them per call, or sell the entire models,” the developer added.
The AI’s storage model was developed in partnership with Filecoin, Near, Avail, Polygon, and Syscoin. These notable projects will supply the essential storage strata for accommodating these AI models on the blockchain.
The Bitcoin Virtual Machine Debate: AI’s Compatibility with Blockchain Technology
The integration of AI with blockchain technology is gaining traction among crypto traders and is expected to fuel significant innovations in the global economy. Despite some specialists questioning the feasibility of AI’s integration with blockchain, endeavors such as BVM’s Truly Open AI are stirring enthusiasm in the realm of cryptocurrency.
This initiative might pave the way for a new epoch of decentralized AI applications, bolstering the position of blockchain in the emerging AI scenario. Nonetheless, the interplay between AI and crypto remains ambiguous: While some industry experts argue that artificial intelligence is incompatible with blockchain, numerous projects beg to differ.
According to CoinMarketCap, at the time of writing, Bitcoin Virtual Machine’s BVM token was trading at $2,22 down nearly 10% in the past 24 hours, in line with a marketwide drop.
In conclusion, the advent of Truly Open AI by BVM is a game-changer for blockchain-powered AI applications. It not only introduces AI to decentralized cryptocurrency networks but also paves the way for users to monetize their AI models in the crypto space.
