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TRON DAO launches artificial intelligence (AI) development fund

TRON DAO launches artificial intelligence (AI) development fund

As the interest in artificial intelligence (AI) is witnessing revival, both in the mainstream as well as in the cryptocurrency sector, the decentralized autonomous organization behind the TRON (TRX) ecosystem has announced the establishment of a $100 million Artificial Intelligence Development Fund.

With an aim to accelerate the blending of the blockchain and AI technologies, TRON DAO’s new fund will focus on four main areas – AI Service Payment Platform, AI Infused Oracles, AI Informed Investment Management Services, and AI Generated Content, as per a press release from February 8.

“The hope of the initiative is that developers are inspired to use AI in current as well as future applications built on the TRON blockchain, both in the back end and front end of development, AND that they apply for grants from the TRON Artificial Intelligence Development Fund to help them do so,” the organization said.

What will this entail?

Specifically, the development of TRON’s AI Service Payment Platform envisions enabling “self-learning, on-the-go, adaptable capabilities in all aspects of decentralized commerce,” such as smart contract creation and deployment, payment layer protocols, AI payment gateways, and currency settlement.

According to TRON DAO’s press release, building the AI Oracle will take place on TRON’s network and its data-focused Layer 2 blockchain, The BitTorrent Chain, facilitating decentralized data management for the creation of a new, decentralized, intelligent financial ecosystem through AI-enhanced oracles.

As for the AI Informed Investment Management Services, they will pave the way for the building of more complex and intelligent trading algorithms, real-time market trend analyses, discovering more advanced and dynamic strategies, and more insightful investment decision-making, as well as writing ‘smarter’ smart contracts to automate trading.

Finally, the goal of AI Generated Content is to boost efficiency and enable on-the-go user research to inform creators and developers, enhance non-fungible token (NFT) utilization, and “empower NFT use cases of the future,” by integrating AI tools into content generation.”

TRON’s steady progress

Meanwhile, a recent quarterly report by the cryptocurrency analytics platform Messari revealed that the TRON network had seen an increase in daily active accounts in the last quarter of 2022, recording “an unusual spike to 1.3 million new accounts on December 10.”

TRON daily active accounts and activated (new) accounts. Source: Messari

During the same period, a significant amount of TRX tokens was burned compared to generated due to increased user activity, whereas TRON’s client GreatYovage-V4.6.0, a.k.a. Socrates, was released in November with the objective to optimize network functionality.

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