Important cryptocurrency news: the Solana Foundation recently released a plugin for ChatGPT that integrates artificial intelligence with the layer 1 blockchain.
In this regard, Solana (SOL) co- founder Anatoly Yakovenko expressed his belief that every application should be developed in orientation to the increasingly impactful world of AI.
Below are all the details.
Solanaโs integration with ChatGPT is the benchmark for AI
As anticipated over, the Solana (SOL) Foundation stated Tuesday that it has created an open source reference implementation that allows users to interact with the Solana (SOL) network directly from ChatGPT with a plug-in available for download on Github.ย
In this regard, the Solana (SOL) Foundation stated theย next in a note:
โThis Solana (SOL) Labs integration serves as a reference for how Artificialย Intelligenceย (AI) can facilitate understanding of Solana (SOL) data and protocols, or surface data about Solanaโs IT infrastructure and Decentralizedย Finance projects.โ
Adding further that the plug-in can be used to buy NFTs, transfer cryptoย tokens, inspect transactions, interpret public account data, and find Non-Fungibleย Tokenย (NFT) collections accordingย to floor price.
Solana (SOL) co- founder and CEO of Solana (SOL) Labs, Anatoly Yakovenko, stated artificial intelligence would make Solanaโs blockchainย tech more usable and understandable:
โEvery developer building consumer oriented applications should think about how they will interact with their application through an Artificialย Intelligenceย (AI) model because this is a new paradigm for telling computers what to do.โ
Inย theย meantime, the Solana (SOL) Foundation stated it has increased the amount available in a previously announced strategic provides program focused on artificial intelligence from $1 Million to $10 million.
The foundation has already received fifty applications and persistsย to accept them for new projects. Inย particular, the statement reads the following:
โThe Solana (SOL) Foundation has likewise kicked off a 3- 30ย days accelerator program for college students that has an entire cohort dedicated to experimenting with blockchainย tech and artificial intelligence.โ
Surge in Solanaโs activity owingย to highย charges from Bitcoinย (BTC) and Ethereum
Accordingย to the data, we know that Solana (SOL) saw a surge in activity theseย 30ย days as higher charges on Ethereum and Bitcoin prompted some users to explore alternatives.ย
The network saw the seven-day moving average of new addresses reach 323,000 pastย week, the highest number since June 2022, reportsย by data from The Block .
Theseย 30ย days, more new addresses have already been added than the protocol has seen in each of the past 6 months, the data show.
Inย theย meantime, the number of active addresses that have sent or received funds on the Bitcoinย (BTC) network hasย decreased to its weakestย point since July 2021.
Additionally, The Blockโs research analyst Rebecca Stevens, keepingย inย mindย that a similar boostย in new addresses was occurring on platforms growing Ethereumย (ETH), such as Polygon, stated the following:
โThe surge appeared toย begin before May when charges started to increase on Ethereumย (ETH) and people were looking for other places to transact, but that Second rally could likewise be related to Ethereumย (ETH) finality issues.โ
Inย theย end, referring to two incidents in recent weeks that saw Ethereumโs beacon chain briefly stop finalizing blocks, she added:
โ Solana (SOL) has faced manyย of pushback for its outages, so theย pastย few Ethereumย (ETH) network issues couldย be putting things into perspective.โ
Inย theย meantime, Solanaโs native Solanaย (SOL) cryptoย token, which experienced a drastic fall aย yearย ago owingย to the collapse of digitalย currency exchange FTX, has rebounded everย since, growing 101 percent since the beginning of the year.ย
On Tuesday it rose 2.6 percent to trade at $20.03, reportsย by TradingView data.
The CEO of Solana (SOL) on ChatGPT: as revolutionary as the 1st introduction of the computer
On 23 May, Solana (SOL) Labs co- founder and CEO Anatoly Yakovenko discussed his companyโs recent focus on artificial intelligence and ChatGPT. Inย particular, Yakovenko wasย known artificial intelligence an important change.ย
Additionally, Yakovenko stated theย next withinย a discussion:
โI think the natural language interface that ChatGPT has enabled is cool and interesting. Itโs as big a change as when Microsoft Windows and the computer mouse were 1st introduced.โ
Not only that, as anticipated, he likewise stated that developers creating consumer applications should consider how their applications can be used through AI.
He likewise suggested that digitalย currency APIs are ideal for interaction with Artificialย Intelligenceย (AI) owingย to their programmability, especially compared to centralized finance.
Yakovenko then highlighted Solanaโs existing ChatGPT plug-in mentioned over, which allows users and developers to retrieve on-chain data on Non-Fungibleย Tokenย (NFT) accounts and collections.
Despiteย theย factย that these features have been previously announced, Yakovenko suggested that Solana (SOL) users could soonerย orย thereafter perform transactions from a โChatGPT loop,โ meaning that users could perform transactions within the chatbot itself.
Increasing Solana (SOL) addresses, but decreasing on-chain activity, why?
As of theseย 30ย days, Solana (SOL) has demonstrated growth in its user base, with 5.4 million new addresses joining the blockchain.
This increase represents the highest number of new addresses added since October 2022, suggesting increased interest in Solanaโs blockchain.
Typically, a surge of new addresses suggests a solid foundation for a blockchainย tech, reflecting growing community adoption and involvement.
Nonetheless, while Solana (SOL) experienced a surge in new addresses, its on-chain activity declined during the same period.
Data from The Block, a leading blockchainย tech analysis tool, reveal that on-chain activity on the Solana (SOL) network declined in May, counteracting the influx of new participants.
On-chain activity refers to transactions, smart contract interactions and other operations that occur on the blockchain.
The decrease in on-chain activity raises questions about the factors affecting Solanaโs overall blockchainย tech engagement and usage and why theย expansion in activity has not had a positive impact on its price.
Inย theย meantime, the price of the investment has likewise reflected its on-chain activity as Solanaย (SOL) has been trending downward inย theย previous week, down nearly 10%.
