In-Short
- YeagerAI launches Intelligent Oracle for real-time data access on DApps.
- GenLayer blockchain supports new Intelligent Oracle, enhancing DApp capabilities.
- Intelligent Oracle to provide efficient, scalable, and cross-chain data solutions.
Summary of YeagerAI’s Intelligent Oracle Launch
YeagerAI has introduced a groundbreaking AI-powered Intelligent Oracle designed to revolutionize data collection for decentralized applications (DApps) on the blockchain. This new oracle, built on the GenLayer blockchain, enables DApps to access a wide range of online data directly on-chain, paving the way for innovative applications and use cases.
The Intelligent Oracle is set to debut on a permissioned local network, with expectations for the GenLayer Testnet to be operational by the end of 2024. It aims to eliminate the need for human-powered resolution systems and boasts cross-chain compatibility, offering a scalable and future-proof solution for DApp decision-making processes.
At the core of the Intelligent Oracle is the integration of Large Language Models (LLMs) within GenLayer’s Optimistic Democracy consensus mechanism. This mechanism relies on validators connected to LLMs to verify and secure data fetched from various sources. The validators’ role is crucial in processing non-deterministic transactions by retrieving internet data, ensuring that all decisions made by the oracle are accurate, reliable, and secure.
Traditional oracles have faced challenges such as limited access to external data and slow, costly, and inflexible operations. The Intelligent Oracle addresses these issues by providing an autonomous solution that can offer a virtually unlimited range of data types to DApp developers, enhancing the potential for blockchain technology in areas like prediction markets, insurance, and financial derivatives.
With the introduction of the Intelligent Oracle, DApp developers can now access decentralized, transparent, and secure data more efficiently and cost-effectively. This innovation promises to achieve transaction finality in under an hour at a cost of less than $1 per market, a significant improvement over traditional oracles.
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