- GenLayer is the first Intelligent Blockchain, allowing smart contracts, also known as Intelligent Contracts.
- Arthur Hayes and his family office investment firm, Maelstrom, also back GenLayer.
YeagerAI has announced the successful completion of a $7.5 million seed round for its GenLayer, an AI-powered Intelligent Blockchain, which was headed by North Island Ventures. World-class web3 venture capital firms, such as Arrington Capital, Node Capital, Samara AG, DCF Capital, WAGMI Ventures, Magnus Capital, MH Ventures, BlockBuilders, TykheBlock, ZK Ventures, Cogitent, and MS2 Capital, participated in the round. With this investment, GenLayer is better able to realize its goal of building the AI-powered smart contract of the future.
Veteran investors in the field, such as Arthur Hayes and his family office investment firm, Maelstrom, also back GenLayer, enhancing the project’s expert network and web3 industry ties.
GenLayer is the first Intelligent Blockchain, allowing smart contracts, also known as Intelligent Contracts, to employ Large Language Models (LLMs) to access the knowledge of the Internet and make complicated choices in a decentralized way.
With the ability to understand natural language, connect to the Internet natively, and manage non-deterministic processes, Intelligent Contracts open the door to a whole new class of decentralized primitives and protocols that are not achievable under the limitations of present blockchain infrastructure.
Travis Scher, Partner at North Island Ventures, said:
“GenLayer is leveraging recent advances in AI to bring more of the internet onchain, enabling improvements in today’s dApps and unlocking entirely new possibilities. We’re thrilled to support Albert and his team in their mission.”
Amos Meiri, Founding Partner at Node Capital, added:
“Some of the core limitations the industry faces stem from the need for humans in the loop and lack of access to real-world data. GenLayer solves this by leveraging AI and opening the door to completely new use cases. We’re excited to support the team on this adventure.”
Utilizing artificial intelligence (AI) and a one-of-a-kind process known as Optimistic Democracy, the GenLayer network, which is comprised of a Virtual Machine and Consensus Layer, is able to arrive to an agreement on arbitrary tasks. To take part in this delegated Proof-of-Stake (dPOS) system, a subset of five validators, each of which is connected to a different LLM, are selected at random.
After evaluating the leader’s proposed conclusion in light of their own findings, the four other validators cast their votes to determine whether or not to accept the leader’s proposal. If the majority agree with the transaction, then it will be carried out; otherwise, a new leader will be chosen. During the appeal window that follows the validation process, participants have the opportunity to deposit a bond and double the validator set for a reevaluation.
GenLayer, in contrast to traditional blockchains, which give predictable outputs, enables variable Intelligent Contract executions by using an equivalence principle that is set by the application developer. This principle ensures that both transparency and trust are maintained.
Albert Castellana, Co-Founder and CEO of GenLayer stated:
“I believe GenLayer will be a zero-to-one innovation, and we’re grateful to all our investors for sharing our vision. Using Artificial Intelligence to enable consensus on subjective decisions will massively expand the design space for truly decentralized applications.”
