Lightning Labs Announces AI Toolkit That Can Store and Process Bitcoin Transactions

Lightning Labs Announces AI Toolkit That Can Store and Process Bitcoin Transactions

The year 2023 will likely be remembered as the year that Artificial Intelligence (AI) revamped all other technologies. Lightning Labs, which developed the Lightning Network for instant Bitcoin payments, has now created AI tools to facilitate crypto-related activities. Basically, Lightning Labs claimed that its new tools can channel AI to store cryptocurrencies, as well as facilitate transactions in the digital asset. This would deeply integrate AI engines into the Bitcoin network – the pros and cons of which will emerge in the coming times.

Lightning Labs has announced the release of a developer toolkit called ‘AI4All’, which will incorporate ChatGPT’s generative AI text feature to interact with the Bitcoin network. This would facilitate the sending, receiving and holding of cryptocurrency, making financial transactions faster and more cost-effective.

“We are excited to announce the launch of a new set of developer tools to enable the Lightning and AI developer communities to build global, inclusive and cost-effective Large Language Model (LLM) tools that incorporate Lightning and Bitcoin. Tools that leverage OpenAI GPT function calls allow developers to create agents that can maintain a Bitcoin balance (on-chain and Lightning), send/receive Bitcoin on Lightning,” said an official note from Lightning Labs.

LLMs are supported by large, detailed datasets that help them generate human-like responses to user prompts and accomplish tasks.

Speaking about LLM use cases, Lightning Labs Product Lead Michael Levin he said, “Chat UIs are just the tip of the iceberg for using LLM. 90 percent of use cases are beyond that initial foray. The most useful products will not be chat UIs, but SaaS/Enterprise/API products built on LLMs to uniquely solve user problems.”

To create this toolkit, Lightning Labs also put together its own mechanisms to authenticate and simplify operations with AI.

The company posted an official release announcement of this AI-Bitcoin toolkit on Twitter on July 6.

According to Levin, this toolkit will allow AI agents to develop beyond simple prompt + response AI models.

“Instead, they will be able to perform tasks from broad requests, which will require interaction between agents and markets to price decisions/actions,” Levin added in his Twitter thread.

While we await the repercussions of AI involvement with Bitcoin, AI appears to be catching up with the crypto industry.

In June, Mudrex, a cryptocurrency investment firm based in India and the United States, decided to use the AI ​​chatbot trend to educate people about cryptocurrencies. This chatbot is called ‘SatoshiGPT’ as a tribute to the anonymous founder of Bitcoin who is famous by his pseudonym – Satoshi Nakamoto

In fact, a new class of cryptocurrencies called AI crypto coins has also emerged on the market.

Like all common cryptocurrencies, AI crypto tokens are also built on blockchain networks. Unlike other cryptocurrencies, however, these tokens are loaded with AI features that promise better security, functionality and overall performance.

From the Nothing Phone 2 to the Motorola Razr 40 Ultra, several new smartphones are expected to debut in July. We discuss all of this month’s hottest smartphones and more in the latest episode of Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.
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