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 previously not possible with existing blockchain systems. As an AI-driven system, this system aims to change the way smart contracts function.
YeagerAI launches GenLayer with $7.5 million in seed funding led by North Island Ventures
Building GenLayer is the work of YeagerAI, an ambitious artificial intelligence research laboratory founded by Albert Castellana, Edgars Nemše and José María Lagoaims with many years of experience in the industry. In addition, their previous works include major projects such as NEM IO, RadixDLT and StakeHound. North Island Yields has led a $7.5 million GenLayer seed round, with participation from Node Capital, Arrington Money and others contributing to cash firms ZK Ventures and WAGMI Ventures
The structure of GenLayer includes Consensus Layer and Virtual Machine that use AI to reach consensus on the tasks related to assessing subjectivity. This system is called optimistic democracy. Moreover, it uses validators to handle these transactions. When most validators agree, the transaction goes through. If they do, the process starts over with a new leader. This system can also guarantee decentralization and transparency in 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 to perform tasks that would otherwise require advanced insight and decision-making capabilities, like that of a human.
GenLayer’s support includes prominent web3 industry leaders such as Arthur Hayes, which is a testament to its stature. Currently, investors believe that the company will address some of the key shortcomings of conventional blockchain technology through GenLayer by minimizing human involvement and offering factual data.
According to Albert Castellana, co-founder and CEO of GenLayer, this will bring serious opportunities to truly decentralize applications. Moreover, it will be another great leap forward for the blockchain community.