AI-focused Web3 startup YeagerAI raises $7.5 million in seed funding, spearheaded by North Island Ventures.
In the ever-evolving world of technology, a new player is making waves – GenLayer, a groundbreaking AI startup that has raised $7.5 million in a seed round led by North Island Ventures [1]. The round also saw participation from Node Capital, Arrington Capital, ZK Ventures, WAGMI Ventures, BlockBuilders, and Arthur Hayes's Maelstrom.
GenLayer, co-founded by Albert Castellana, is developing a decentralized AI network that leverages blockchain technology and intelligent contracts. This innovative infrastructure aims to create a transparent, sovereign, and decentralized AI ecosystem, enabling adaptive app development [3].
At the heart of GenLayer's technology lies the concept of "intelligent contracts," blockchain-based systems that execute commands using LLMs connected to the internet. These contracts can autonomously adjust actions based on real-time data inputs and changing situational contexts, allowing applications to modify their operations or responses dynamically without centralized control [4].
The GenLayer system operates using a consensus mechanism involving a majority vote. A majority vote is required to process a transaction; if not achieved, the process starts again [2, 5]. In this network, a lead validator proposes an output, which is then voted on by other validators connected to different large language models (LLMs).
One of the key challenges GenLayer aims to address is the limitations of today's AI models. Traditional AI models rely on deterministic computation, meaning specific inputs always lead to the same outputs. However, GenLayer's proprietary proof-of-stake algorithm, which involves validators and LLMs, enables AI models to respond to online information, allowing for the creation of adaptive apps that can respond to changing situations like the weather and financial markets [6, 7].
GenLayer's co-founder, Albert Castellana, believes that merging AI with blockchain technology unlocks tools that enable "consensus on subjective decisions." This decentralized architecture reduces single points of failure and allows numerous AI models and data sources to interact freely, fostering adaptive intelligence [3].
As an open and decentralized AI research collective, GenLayer promotes collaboration among a globally distributed network of developers and AI models. This collective intelligence can synthesize multiple independent models to produce context-aware insights and actions, thereby improving adaptability [4].
The blockchain foundation supports trust infrastructure that guarantees secure and verifiable AI operations. The system's open-source nature and decentralized governance ensure transparency and prevent centralized manipulation, vital for adapting reliably to sensitive and fluid contexts like financial markets or evolving weather patterns [4].
In essence, GenLayer's combination of AI-powered intelligent contracts running on a decentralized, transparent blockchain network allows applications to continuously learn from and react to changing environmental data autonomously, supporting adaptive and resilient app development [3]. This revolutionary technology promises to reshape the future of AI and app development, making applications more responsive and adaptable to the ever-changing world.
[1] TechCrunch. (2022, March 10). GenLayer raises $7.5 million to build a decentralized AI network. [online] Available at: https://techcrunch.com/2022/03/10/genlayer-raises-7-5-million-to-build-a-decentralized-ai-network/
[2] GenLayer. (n.d.). How it works. [online] Available at: https://genlayer.ai/how-it-works
[3] GenLayer. (n.d.). About. [online] Available at: https://genlayer.ai/about
[4] GenLayer. (n.d.). Whitepaper. [online] Available at: https://genlayer.ai/whitepaper
[5] GenLayer. (n.d.). Blog post: Introducing GenLayer. [online] Available at: https://genlayer.ai/blog/introducing-genlayer
[6] Meiri, A. (2021, November 15). GenLayer: A decentralized AI network for adaptive app development. [online] Available at: https://medium.com/@amosmeiri/genlayer-a-decentralized-ai-network-for-adaptive-app-development-300a75d486e
[7] Castellana, A. (2021, October 27). Merging AI with blockchain technology to enable consensus on subjective decisions. [online] Available at: https://medium.com/@albertcastellana/merging-ai-with-blockchain-technology-to-enable-consensus-on-subjective-decisions-69f4d70d1b06
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