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.
Solana’s 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.
In this regard, the Solana (SOL) Foundation stated the next in a note:
“This Solana (SOL) Labs integration serves as a reference for how Artificial Intelligence (AI) can facilitate understanding of Solana (SOL) data and protocols, or surface data about Solana’s IT infrastructure and Decentralized Finance projects.”
Adding further that the plug-in can be used to buy NFTs, transfer crypto tokens, inspect transactions, interpret public account data, and find Non-Fungible Token (NFT) collections according to floor price.
Solana (SOL) co- founder and CEO of Solana (SOL) Labs, Anatoly Yakovenko, stated artificial intelligence would make Solana’s blockchain tech more usable and understandable:
“Every developer building consumer oriented applications should think about how they will interact with their application through an Artificial Intelligence (AI) model because this is a new paradigm for telling computers what to do.”
In the 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 persists to accept them for new projects. In particular, the statement reads the following:
“The Solana (SOL) Foundation has likewise kicked off a 3- 30 days accelerator program for college students that has an entire cohort dedicated to experimenting with blockchain tech and artificial intelligence.”
Surge in Solana’s activity owing to high charges from Bitcoin (BTC) and Ethereum
According to the data, we know that Solana (SOL) saw a surge in activity these 30 days as higher charges on Ethereum and Bitcoin prompted some users to explore alternatives.
The network saw the seven-day moving average of new addresses reach 323,000 past week, the highest number since June 2022, reports by data from The Block .
These 30 days, more new addresses have already been added than the protocol has seen in each of the past 6 months, the data show.
In the meantime, the number of active addresses that have sent or received funds on the Bitcoin (BTC) network has decreased to its weakest point since July 2021.
Additionally, The Block’s research analyst Rebecca Stevens, keeping in mind that a similar boost in new addresses was occurring on platforms growing Ethereum (ETH), such as Polygon, stated the following:
“The surge appeared to begin before May when charges started to increase on Ethereum (ETH) and people were looking for other places to transact, but that Second rally could likewise be related to Ethereum (ETH) finality issues.”
In the end, referring to two incidents in recent weeks that saw Ethereum’s beacon chain briefly stop finalizing blocks, she added:
“ Solana (SOL) has faced many of pushback for its outages, so the past few Ethereum (ETH) network issues could be putting things into perspective.”
In the meantime, Solana’s native Solana (SOL) crypto token, which experienced a drastic fall a year ago owing to the collapse of digital currency exchange FTX, has rebounded ever since, growing 101 percent since the beginning of the year.
On Tuesday it rose 2.6 percent to trade at $20.03, reports 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 company’s recent focus on artificial intelligence and ChatGPT. In particular, Yakovenko was known artificial intelligence an important change.
Additionally, Yakovenko stated the next within a discussion:
“I think the natural language interface that ChatGPT has enabled is cool and interesting. It’s as big a change as when Microsoft Windows and the computer mouse were 1st introduced.”
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 digital currency APIs are ideal for interaction with Artificial Intelligence (AI) owing to their programmability, especially compared to centralized finance.
Yakovenko then highlighted Solana’s existing ChatGPT plug-in mentioned over, which allows users and developers to retrieve on-chain data on Non-Fungible Token (NFT) accounts and collections.
Despite the fact that these features have been previously announced, Yakovenko suggested that Solana (SOL) users could sooner or thereafter perform transactions from a “ChatGPT loop,” meaning that users could perform transactions within the chatbot itself.
Increasing Solana (SOL) addresses, but decreasing on-chain activity, why?
As of these 30 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 Solana’s blockchain.
Typically, a surge of new addresses suggests a solid foundation for a blockchain 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 blockchain 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 Solana’s overall blockchain tech engagement and usage and why the expansion in activity has not had a positive impact on its price.
In the meantime, the price of the investment has likewise reflected its on-chain activity as Solana (SOL) has been trending downward in the previous week, down nearly 10%.