đ GenLayer has just secured $7.50M in its latest funding round! đ
đčAbout: GenLayer aims to redefine smart contracts by introducing Intelligent Contracts. Unlike traditional smart contracts, which are limited in their capabilities, Intelligent Contracts can connect to the internet, process real-world natural language data, and perform complex operations. GenLayer leverages Large Language Models (LLMs) to achieve this feat. These LLMs allow Intelligent Contracts to access the internetâs knowledge, making decentralized decision-making possible. The project recently closed a $7.5 million seed round led by North Island Ventures, positioning it as the First Intelligent Blockchain. GenLayerâs unique consensus algorithm, called Optimistic Democracy, involves multiple validators collaborating to verify each otherâs work, enabling consensus on subjective tasks. The platform is set to launch a testnet by the end of this year, marking a significant milestone in creating the future of decentralized applications powered by AI.đ
đč Lead Investors: Arrington XRP Capital, Maelstrom, North Island Ventures, WAGMI ventures and many more.
đč Total Raised: $7.50M.
đč Project Category: Artificial Intelligence (AI), Layer-1.
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