Solana Introduces AI Capabilities to Enhance User Experience and Adoption | National Crowdfunding & Fintech Association of Canada

The Defiant | Samuel Haig  | May 24, 2023

In a push to revive its downtrend and amplify adoption, Solana, a Layer 1 blockchain noted for quick, low-cost transactions, launched a ChatGPT plugin that enhances its user interface.

• Solana AI ChatGPT plugin:
  • The plugin facilitates various actions including NFT purchasing, token transfers, and on-chain data analysis, making it a powerful tool for those developing consumer-oriented applications.
  • Future iterations are expected to enable the writing and deployment of smart contracts on-chain, making the Solana blockchain more accessible and user-friendly.

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• Signs of Live Despite Market Challenges:
  • Despite a significant 92% drop from its 2021 highs, Solana has started to recover, showing an 80% increase in the SOL token this year.
  • However, the project faced various challenges including outages, criticisms regarding decentralization, and significant market share loss to other low-cost Layer 1s. The downfall of FTX and Alameda Research, significant Solana investors, also dealt a blow to the ecosystem.
  • Solana persists and looks to AI as a means to regain momentum and foster growth.
• Boost for AI Grant Accelerator Program:
  • In a bid to nurture the development of machine learning models interacting with Solana-based protocols, the blockchain announced a ten-fold funding increase for its AI accelerator grants program.
  • The program, which has already attracted over 50 applications, will provide between $5,000 and $25,000 to successful applicants.
  • The ecosystem is home to several AI-focused projects, demonstrating the potential for AI to revolutionize the functionality and usability of the blockchain.

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