Chromia and Elfa AI, an AI-powered social platform that offers real-time, data-driven insights to users navigating the cryptocurrency market, have announced a strategic investment and collaboration.
X, Telegram, and other on-chain data sources provide massive amounts of data that Elfa AI uses artificial intelligence to evaluate. This simplifies the process of finding viable commercial prospects. Users may share opportunities with friends, trade cryptocurrencies straight inside the app, and personalize signals to suit their own preferences.
This is the first investment made by Chromia via its newly established Data and AI Ecosystem Fund, which is intended to assist blockchain-related enterprises that make use of data in innovative ways.
Elfa’s data-centric strategy is in line with Chromia’s relational blockchain architecture, which facilitates the effective handling of big datasets. In order to improve data accessibility and transparency, the two platforms will work together to verify data utilized in the Elfa ecosystem by the public using Chromia’s infrastructure. Elfa will additionally explore integration with Chromia’s developer-friendly tools, which will enable users and developers to get and analyze on-chain data more quickly and effectively.
Longer-term ecosystem development prospects are also presented by the partnership, thus Elfa users may be able to access open-source datasets kept on Chromia blockchains to develop their own tools and solutions. With more developer and user engagement with these tools, both platforms hope to propel the usage of AI technology toward the generation of actionable market data.
Yeou Jie, Head of Business Development at Chromia, commented on the partnership:
“Elfa AI stands out because of their ability to harness AI to deliver real-time, actionable information in the fast-paced world of crypto. 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.”
The investment is a component of Chromia’s larger plan to assist initiatives that boost decentralized apps’ functionality by enhancing data management and accessibility.
With its modular framework, Chromia is a Layer-1 relational blockchain platform that offers enhanced digital assets, customizable fee structures, and specialized dapp chains to empower developers and users. In order to create breakthroughs that will improve the end-user experience and enable new Web3 business models, Chromia challenges the existing quo by fundamentally altering the way information is represented on the blockchain. This results in natively query able data that is indexed in real-time.
Elfa AI is an AI-powered social platform that assists users in navigating the convoluted world of cryptocurrencies. Elfa offers real-time insights and signals via the analysis of massive information from social media platforms, enabling users to make well-informed choices. The platform’s goal is to make it easier for consumers to interact with crypto data by providing a simplified and effective way to keep informed in a market that is evolving quickly.
