Biconomy, a Web3 infrastructure startup, has recently unveiled its Delegated Authorization Network (DAN) that allows for the safe delegation of on-chain operations to artificial intelligence agents. The co-founder of Biconomy, Aniket Jindal, highlighted the importance of DAN in providing autonomy for AI agents in the crypto space while also addressing security concerns related to AI’s control over wallet keys. This innovation comes at a crucial time as the intersection of crypto and AI raises doubts about the ability of these models to handle complex on-chain activities securely.
Through a partnership with Silence Labs, Biconomy’s DAN enables AI agents to optimize and authorize blockchain transactions without compromising self-custody practices. The use of Delegated Auth keys grants AI-powered parameters the ability to navigate complex on-chain tasks securely, opening up new possibilities for automation and efficiency in the crypto industry. This development aligns with the trend of account abstraction that is gaining traction in on-chain communities, particularly within the Ethereum ecosystem.
With a focus on mass adoption, Biconomy’s DAN stack offers automated processes for handling transactions and other blockchain-related operations, setting the stage for increased accessibility and usability in the crypto space. Biconomy’s track record of over three billion in volume, five million onboarded users, and 1.2 million smart accounts underscores the scalability and potential impact of its decentralized infrastructure. By leveraging the economic security of EigenLayer’s Actively Validated Services (AVS), Biconomy is poised to address the evolving needs of users seeking efficient and secure on-chain solutions.
In a statement on June 11, Jindal emphasized the significance of Biconomy’s DAN in unlocking new use cases and enhancing the functionality of AI agents within the crypto ecosystem. The integration of AI technology with blockchain transactions represents a milestone in streamlining processes and improving efficiency in the digital asset space. By securely delegating authorization responsibilities to AI agents within user-defined permissions, Biconomy’s DAN paves the way for innovative solutions that cater to the evolving demands of the crypto community.
Overall, Biconomy’s launch of the Delegated Authorization Network marks a significant advancement in bridging the gap between AI technology and blockchain operations. By offering a secure and efficient mechanism for delegating on-chain tasks to AI agents, Biconomy is at the forefront of driving innovation and accessibility in the crypto industry. The integration of DAN with key industry partners and a strong foundation of users positions Biconomy as a key player in shaping the future of decentralized infrastructure and enabling new possibilities for automation and security within the crypto space.
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