The Role of Data and AI in the Blockchain Ecosystem

According to Cointelegraph, on the latest episode of the Hashing It Out podcast, Chainbase co-founder and chief operating officer Chris Feng joined host Elisha Owusu Akyaw to discuss the evolving role of data and artificial intelligence (AI) in the blockchain ecosystem. The conversation highlighted how these technologies are driving new developments in the Web3 space, and highlighted the untapped potential of on-chain data as a critical asset for both industries.

Feng explained that on-chain data is moving from being just a transaction record to a new type of asset class. As Web3 continues to grow, blockchain data is being used not only for transaction verification, but also for valuable insights that fuel innovation. Feng emphasized the importance of a robust data infrastructure to support this shift, noting that Chainbase is building an ecosystem where developers can work with high-quality data to run more precise applications in a Web3 environment.

A key point of discussion was the intersection of AI and blockchain. Feng noted that the rise of AI has significantly impacted business operations, and blockchain plays a key role in ensuring transparency and trust in data. Chainbase addresses this issue by providing a network that transforms raw blockchain data into actionable insights for AI applications, enabling models to better understand and process blockchain data. Feng also emphasizes the broader implications of this transformation, predicting that integrating AI with blockchain could shape the future of Web3 applications, creating smarter, more efficient platforms that lower the barrier to entry for developers. This chapter provides a clear look at how data, AI, and blockchain come together, paving the way for new technological advancements in the Web3 space #YapayzekaAI