YeagerAI, the development firm that is responsible for the Blockchain GenLayer, has just made an announcement about the debut of the Intelligent Oracle. This oracle is a powerful artificial intelligence-powered oracle that promises to give decentralized data on-chain. The Oracle is able to get any kind of data from the internet and present it in its entirety on the blockchain. It was designed to enable a new generation of decentralized applications (dapps).
Large Language Models (LLMs), which are directly integrated into GenLayer’s Optimistic Democracy consensus mechanism, are the source of power for the Intelligent Oracle. By establishing connections with LLMs, validators make it possible for the network to perform non-deterministic transactions by retrieving data from the internet. A lead validator is responsible for generating a suggested response whenever a query is submitted. It is then the responsibility of other validators to independently validate this output against the pre-set equivalence criteria. All choices are guaranteed to be precise, dependable, and safe when an optimistic democracy is in place.
However, blockchain decentralized applications (dApps) are presently restricted to the data that is accessible on the blockchain. The Internet is a source of data that must be quick, accurate, and occasionally subjective. This is true for both developing and established use cases. Until recently, the answer consisted on using traditional oracles, which either only provide pre-defined datasets or call for user involvement. As a result, these oracles are sluggish, expensive, and inflexible. Developers of decentralized applications have access to a nearly unbounded variety of data types thanks to the Intelligent Oracle, which provides a solution that is totally independent.
The Intelligent Oracle is the first solution that is based on Intelligent Contracts and which operates on the blockchain that GenLayer has developed. It provides decentralized and transparent data access while also allowing cross-chain interoperability, and it functions without any interruptions inside the GenLayer blockchain. A number of early partners, including Radix DLT, Etherisc, PredX, Delphi Bets, and Provably, have made a commitment to developing with the technology.
In the realm of decentralized applications that cater to use cases such as prediction markets, insurance, and financial derivatives, the debut of the Intelligent Oracle will prove to be a breakthrough. Through the use of GenLayer’s Intelligent Oracle, data resolution may be accomplished quickly and at economical cost. Unlike conventional oracles, which may take several days to settle prediction markets, incurring considerable delays and expenses, the Intelligent Oracle is able to achieve transaction finality in less than an hour at a cost of less than one dollar per market.
YeagerAI is a technologically advanced artificial intelligence research lab that is committed to improving technology with a particular emphasis on decentralization, transparency, and sovereignty. The development of open-source tools and protocols that improve interactions between humans and artificial intelligence is their objective. YeagerAI is in the vanguard of integrating artificial intelligence with blockchain technology. The company’s goal is to develop decentralized systems that are transparent, efficient, and capable of handling difficult and subjective tasks.
Initially, the Intelligent Oracle will be launched on a permissioned local network, and the GenLayer Testnet is anticipated to be operational by the end of the year 2024. Through the elimination of reliance on human-driven resolution mechanisms and the provision of cross-chain interoperability, the Intelligent Oracle offers a solution for decision-making that is scalable, efficient, and future-proof. The technology is interoperable with many blockchain ecosystems, which enables it to merge without any complications from one blockchain to another.
Please visit IntelligentOracle.com for more information.