Validation Cloud Launches Mavrik-1 AI Engine on the Hedera Network

Artificial intelligence platform Validation Cloud has launched a new large language model on the Hedera network, potentially giving decentralized finance users the ability to reach blockchain data in a more accessible way.

Integration of large language model (LLM) technology with decentralized finance (DeFi) continues apace, with Validation Cloud launching its Mavrik-1 AI engine on the Hedera network.

The AI platform is aiming to provide users with a more accessible way to reach and interact with blockchain data, which it says is a major barrier for most people. It is also planning several other integrations.

While several blockchain companies launched AI chatbots for developers and users in 2023, widespread adoption still faces major hurdles.

As reported by Cointelegraph at the time, the integration of AI-powered smart contracts was largely limited by high and unpredictable gas fees.

Announcing the launch of its Mavrik-1 AI engine on the Hedera network, Validation Cloud is planning to introduce several other integrations during the public rollout later in 2024.

The AI engine is designed to allow users to interact with DeFi protocols and access blockchain data in a natural language format. This means that users will be able to ask questions and receive answers in plain English, without needing any technical knowledge or expertise.

For example, users will be able to ask Mavrik-1 questions like, “What is the price of BTC?” or “What are the top 10 DeFi protocols on Ethereum?”

The AI engine is trained on live onchain data from various sources and is designed to be used for a variety of DeFi, stablecoin and other blockchain applications.

“Despite DeFi accounting for over 50% of all onchain activity, accessing and interpreting that data remains a major hurdle for most users and institutions,” Validation Cloud told Cointelegraph.

The startup added that existing blockchain data tools, such as Dune, Flipside and Nansen, are harder to grasp for users who aren’t well versed in the industry.

“Most users find it difficult to navigate these platforms and extract the insights they need.”

Its aim is to make blockchain data more accessible to a wider audience.

“Our mission is to democratize access to blockchain data and make it more engaging for everyone. We believe that AI has a critical role to play in bridging the gap between technology and people.”

Earlier in 2024, Circle co-founder and former Stellar CEO, announced a $18 million seed round for his new startup, an AI native bank named Magic Impact.

The integration of LLM technology with DeFi protocols is still in its early stages, but it has the potential to revolutionize the way people interact with cryptocurrencies and decentralized applications.

As more of its activity moves to the decentralized web, users will gain greater control over computing resources and databases.