.png)
NEAR Foundation’s Bold Bet with NEAT Protocol Could Transform Tech
The post NEAR Foundation’s Bold Bet with NEAT Protocol Could Transform Tech appeared on BitcoinEthereumNews.com. In a move poised to significantly advance the integration of artificial intelligence with blockchain technology, the NEAR Foundation has announced a substantial support measure for NEAT Protocol, a specialized rollup solution for AI applications on the NEAR platform. The foundation has delegated 1 million $NEAR tokens to NEAT, with the intent to redistribute all token rewards from this delegation to $NEAT stakers, promising an attractive annual percentage yield (APY) of 120-200%. This initiative is part of a broader effort by the NEAR Foundation to nurture AI and blockchain collaborations within its ecosystem, setting a precedent for future projects. Innovative Solutions for Scalable AI on NEAR NEAT Protocol stands out as the first rollup scaling protocol to gain official backing from the NEAR Foundation. The funding aims to enhance NEAT’s infrastructure to support a wider array of use cases and attract a more extensive user base to its platform. As a rollup scaling solution built on the NEAR inscription standard, NEAT is specifically engineered to streamline AI and machine-learning applications on blockchain, addressing the high computational demands of these technologies through efficient data handling and reduced transaction costs. NEAT’s approach revolutionizes the conventional rollup process by utilizing off-chain indexer nodes for execution, while relying on NEAR’s Layer 1 (L1) for data availability. This structure eliminates the necessity for rollups to deploy smart contracts or run verification logic on L1, significantly cutting down transaction costs and enhancing the system’s overall efficiency. This optimization makes NEAT an ideal platform for computationally intensive applications, including AI and interactive gaming environments. The NEAR Foundation has committed 1 million NEAR tokens in a delegation to @inscriptionneat – a rollup scaling solution built on NEAR to facilitate AI and machine learning apps on NEAR Protocol ???? Read on: pic.twitter.com/nwgBzYXeJy — NEAR Protocol (@NEARProtocol) May 28, 2024 Further…
The post NEAR Foundation’s Bold Bet with NEAT Protocol Could Transform Tech appeared on BitcoinEthereumNews.com.
In a move poised to significantly advance the integration of artificial intelligence with blockchain technology, the NEAR Foundation has announced a substantial support measure for NEAT Protocol, a specialized rollup solution for AI applications on the NEAR platform. The foundation has delegated 1 million $NEAR tokens to NEAT, with the intent to redistribute all token rewards from this delegation to $NEAT stakers, promising an attractive annual percentage yield (APY) of 120-200%. This initiative is part of a broader effort by the NEAR Foundation to nurture AI and blockchain collaborations within its ecosystem, setting a precedent for future projects. Innovative Solutions for Scalable AI on NEAR NEAT Protocol stands out as the first rollup scaling protocol to gain official backing from the NEAR Foundation. The funding aims to enhance NEAT’s infrastructure to support a wider array of use cases and attract a more extensive user base to its platform. As a rollup scaling solution built on the NEAR inscription standard, NEAT is specifically engineered to streamline AI and machine-learning applications on blockchain, addressing the high computational demands of these technologies through efficient data handling and reduced transaction costs. NEAT’s approach revolutionizes the conventional rollup process by utilizing off-chain indexer nodes for execution, while relying on NEAR’s Layer 1 (L1) for data availability. This structure eliminates the necessity for rollups to deploy smart contracts or run verification logic on L1, significantly cutting down transaction costs and enhancing the system’s overall efficiency. This optimization makes NEAT an ideal platform for computationally intensive applications, including AI and interactive gaming environments. The NEAR Foundation has committed 1 million NEAR tokens in a delegation to @inscriptionneat – a rollup scaling solution built on NEAR to facilitate AI and machine learning apps on NEAR Protocol ???? Read on: pic.twitter.com/nwgBzYXeJy — NEAR Protocol (@NEARProtocol) May 28, 2024 Further…
What's Your Reaction?
