Layer 1 relational blockchain platform, Chromia announced a strategic investment and partnership with Elfa AI, an AI-powered social platform that aims to assist users in navigating the cryptocurrency market by providing real-time, data-driven insights.
“Elfa AI stands out because of their ability to harness AI to deliver real-time, actionable information in the fast-paced world of crypto,” said Yeou Jie, Head of Business Development at Chromia, in a written statement. “We believe their platform has the potential to change how users engage with crypto markets, and we see a natural alignment between their data-driven approach and Chromia’s blockchain infrastructure,” he added.
Elfa AI leverages AI to analyze large amounts of data from various sources, including platforms like X, Telegram, and on-chain data, to simplify the identification of actionable market opportunities. Users have the ability to customize alerts according to their individual preferences, trade cryptocurrencies directly within the application, and share potential opportunities with friends.
Chromia’s relational blockchain architecture is well-suited for the effective management of extensive datasets, aligning with Elfa AI’s data-centric strategy. The partnership between the two platforms aims to improve data accessibility and transparency by utilizing Chromia’s infrastructure, which will enable public verification of the data utilized within the Elfa AI ecosystem. Furthermore, Elfa AI plans to integrate with Chromia’s user-friendly developer tools, making it easier for both users and developers to retrieve and analyze on-chain data.
This collaboration also opens up long-term growth opportunities for the ecosystem, as Elfa users may develop their own tools and solutions using open-source datasets stored on Chromia blockchains. As more developers and users engage with these resources over time, both platforms aspire to enhance the application of AI technology, leading to more actionable market insights.
Chromia Unveils $20M Data And AI Ecosystem Fund, Plans For ‘Asgard’ Mainnet Upgrade
It is a Layer 1 relational blockchain, and it utilizes a modular framework to provide users with dedicated decentralized application (dApp) blockchains, customizable fee structures, and digital assets. The platform offers natively queryable data that is indexed in real time, which enhances user interaction and supports the development of new Web3 business models.
Recently, Chromia announced the establishment of a $20 million Data and AI Ecosystem Fund and shared plans for its upcoming ‘Asgard’ Mainnet Upgrade, set to take place in the fourth quarter of 2024. These initiatives are designed to enhance Chromia’s capacity to manage data-intensive applications and to incorporate AI features. The latest partnership marks the first use of the newly launched fund.
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