GenLayer has introduced the world’s first intelligent contracts, a major step forward in blockchain technology. These contracts can connect to the internet, process real-world natural language data and perform complex operations that were not possible earlier with existing blockchain systems. As an AI-driven system, this system intends to change the way smart contracts function.
YeagerAI Launches GenLayer with $7.5M Seed Funding Led by North Island Ventures
Building GenLayer is the work of YeagerAI, an ambitious artificial intelligence research lab founded by Albert Castellana, Edgars Nemše and José María Lagoaims with many years in the industry. In addition to this, their past works include big projects like NEM IO, RadixDLT and StakeHound. North Island Yields has led a GenLayer seed round of $7.5 million, with participation from Node Capital, Arrington Money and others contributing undertaking cash firms ZK Ventures and WAGMI Ventures
GenLayer’s structure includes Consensus Layer and Virtual Machine which utilizes AI for achieving consensus in the tasks which are related to the judgment of the subjectivity. This system is referred to as Optimistic Democracy. Moreover, it uses validators to handle these transactions. When most of the validators reach a consensus, the transaction goes through. If they do, the process starts over with a new leader. This system can also guarantee the decentralization and transparency in the decision-making processes even for the most complex ones.
GenLayer Aims to Revolutionize Blockchain with LLM-Powered Intelligent Contracts
Another important aspect of GenLayer’s Intelligent Contracts is that they have access to Large Language Models (LLMs) for knowledge acquisition available on the internet. This makes it possible to develop dApps for executing tasks that would otherwise need sophisticated understanding and decision-making power like that of a human.
Backing GenLayer include prominent web3 industry leaders such as Arthur Hayes, which testifies to its status. Currently, investors believe that the company will address some of the main deficiencies of conventional blockchain technology through GenLayer by minimizing the involvement of people and offering actual data.
According to Albert Castellana, Co-Founder and CEO of GenLayer, this is going to bring in serious possibilities of truly decentralizing applications. In addition, it will make it another giant leap for the blockchain community.