NewsletterChainlink (LINK) To Pivot The AI Token Way?: Developers Hint
Chainlink News: Developers of Ethereum based blockchain network Chainlink appear to be in the race to associate the project with AI integration. In the wake of ChatGPT’s instant adoption in recent times and the huge interest in AI tokens in the crypto space, there is a hunt for a mix of blockchain and AI. Traders continue to place their bets on some of the emerging AI tokens in the crypto space, even as the ChatGPT Vs Google Bard war is on. Meanwhile, existing cryptocurrencies are in no mood to let go of the opportunity to cash in on the AI mania.
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Chainlink Developers Begin AI Integration Efforts
Chainlink founder Sergey Nazarov revealed the team’s plans to integrate the various AI based use cases for the blockchain. Primarily, Chainlink is a solution that enables universally connected smart contracts, meaning it allows off-chain interaction in the world of Decentralized finance (DeFi). Among the proposals is to initiate an AI-based fraud detection for cross-chain operations. Overall, the objective is to eventually find ways to build AI based learning.
Blockchains and AI have many points of intersection that can enhance both technologies.
It's still a guess about how fast each will reach wider adoption & in what form they will all interact. However, it is encouraging to see both finding product-market fit at scale.
— Sergey Nazarov (@SergeyNazarov) February 15, 2023
Also Read: This AI Token Is Ready To Enter Top 100 Cryptos; Time To Buy?
Hence, a reasonable use of AI will give Chainlink a makeover of an AI token. In popular perception, AI tokens are those cryptocurrencies that utilize artificial intelligence to improve core qualities like scalability and security.
With a market cap of $3.51 billion, the cryptocurrency is ranked 21 based on current market capitalization. As of writing, LINK price stands at $6.91, up 2.49% in the last 24 hours, according to CoinGape price tracker.
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