Artificial intelligence research lab YeagerAI launches Intelligent Oracle to provide real-time data access to decentralized applications (DApps).
YeagerAI, the AI research lab behind the GenLayer blockchain, announced the launch of the Intelligent Oracle, a platform that will revolutionize how DApps collect off-chain and on-chain data. The Oracle is an advanced AI-powered oracle that delivers decentralized data on-chain, allowing DApps to leverage the data for various use cases. It is designed to support a new generation of DApps, fetching any type of online data and delivering it fully on-chain.
Built on the GenLayer blockchain, the Intelligent Oracle is powered by Large Language Models (LLMs), integrated directly into GenLayer’s Optimistic Democracy consensus mechanism. The Optimistic Democracy mechanism offers dynamism for the oracle, integrating AI to reach agreements on subjective tasks.
The Intelligent Oracle will initially launch on a permissioned local network, with the GenLayer Testnet expected by the end of 2024.
Building The Next-Gen Oracle For Futuristic DApps
YeagerAI is a development firm that focuses on AI and machine learning to build advanced technologies with a focus on sovereignty, transparency, and decentralization. The research lab aims to provide blockchain developers with open-source tools and protocols that enhance human-AI interactions such as the GenLayer blockchain. The blockchain enables developers to create decentralized applications that can natively search the web, make complex decisions, and process natural language instructions.
The launch of Intelligent Oracle is set to revolutionize on-chain and off-chain data collection across DApps, providing the applications with real-world live data feeds. Current blockchain oracles heavily depend on on-chain data only, which limits several applications from running smoothly.
In addition, traditional oracles face a challenge in providing large sets of data away from the pre-defined datasets or, at times, require manual intervention, which makes them slow, costly, and inflexible. Established and emerging use cases require immediate, accurate, and sometimes subjective data from the Internet. This is what the Intelligent Oracle is aiming to solve, offering an autonomous solution and placing a virtually unlimited range of data types in the hands of dApp builders.
To ensure the data collected is secure, decentralized and verified, the Oracle includes validators who connect to LLMs, enabling the network to process non-deterministic transactions by fetching data from the Internet. When a query is made, a lead validator generates a proposed result, while other validators independently verify this output against the pre-set equivalence criteria. Optimistic Democracy ensures all decisions are accurate, reliable, and secure.
A Breakthrough For DApps’ Use Cases
According to the team statement, Intelligent Oracle is a first-of-its-kind product based on AI-based Intelligent Contracts built on the GenLayer blockchain. The Oracle operates seamlessly within the GenLayer blockchain, delivering decentralized, transparent data access while supporting cross-chain compatibility.
Following the launch, DApp developers can now design and create futuristic applications that wouldn’t be possible with traditional oracles. DApps that offer use cases such as prediction markets, insurance, and financial derivatives will have more secure large data sets, improving their overall efficiency.
Notwithstanding, the Oracle also enables cost-effective and fast data resolution. While traditional oracles can take days to resolve prediction markets—incurring significant delays and costs—the Intelligent Oracle achieves transaction finality in less than an hour at a cost of under $1 per market.
YeagerAI has already welcomed several partners and platforms to test and integrate the Intelligent Oracle. Some of the early partners who have committed to building with the technology include Radix DLT, Etherisc, PredX, Delphi Bets, and Provably.
The move towards an AI-based oracle, removing human-driven resolution systems and providing a cross-chain platform is expected to provide users with a more scalable, efficient and future-proof solution for data collection. Additionally, the cross-chain compatibility will also enable DApp developers to integrate it seamlessly with multiple blockchain ecosystems.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice
