Lightning Labs is facilitating bitcoin sales and holding transactions by leveraging artificial intelligence (AI) models, including ChatGPT. The new features are set to launch on the Lightning Network.
The new features target AI-powered easing the sending and receipt of Bitcoin for users on the network’s layer-2 solution.
Lightning Labs Toolkit to Leverage Artificial Intelligence for Bitcoin Transactions
Lightning Labs, in its Thursday, July 6 communication, confirmed developing the toolkit to allow AI applications to interact with the Bitcoin Lightning Network when sending, receiving, and holding cryptos.
Integrating AI-powered features on the network will facilitate cheaper and faster payment execution. The move will benefit AI developers to avoid the conventional yet prohibitive payment rails. Besides, it will enable Lightning to include pay-per-use AI models.
Large Language Models (LLMs) involve software apps that utilize large data sets to yield human-like responses to user prompts. Their usage mirrors humans in executing other tasks. Lightning Labs lauded the capability of LLM models, particularly the multiplicity in today’s usage.
Lightning Labs Building Accessible AI Infrastructure
Lightning Labs indicated that the new tools are utilizing the L402 protocol. It explained such being a Lightning native mechanism to authenticate. Also, it features a Langchain, identified as a library utilized to simplify operations powered by AI.
Lightning Labs portrayed the recently released tools to support developers in building more accessible AI infrastructure that mirrors humans and agents.
The Lightning team acknowledged that present LLMs suffer without mechanisms for native web-based payment. The situation compels developers of AI-powered applications to depend on dated payment methods, including credit cards. The developers pass the extra expenses they incur to the users by doing so.
Artificial Intelligence Models Struggle with Monetization Challenges
Lightning Labs regret the rapid emergence of intelligent LLMs that it also identified as AI agents struggling with the inability to access the fiat payment systems. It attributed the difficulty to the fact that such a class of organisms operates as non-registered entities with no ties to any nation.
Low in a July 6 podcast estimates developers succeeded in realizing interoperability between AI and BTC payments. The developer for Fedi’s community payments platform lauded AI as eclipsing all solutions except for Bitcoin.
Low laments that AI still struggles with the monetization challenge. A revisit of data by LN analytics 1ML estimates that the capacity to average 5432 Bitcoin translates into $163.5 million. Similarly, Bitcoin Visuals realized a decline in the LN Channels’ numbers. The numbers declined by 10000 from 80000 accomplished in July 2022 to 70000 a year later.
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