Alchemy's ChatGPT plugin facilitates blockchain analysis via AI [Advance Cash ]

Alchemy'S Chatgpt Plugin Facilitates Blockchain Analysis Via Ai

OpenAI's ChatGPT is making waves in the rapidly evolving world of AI tools, prompting Web3 companies to leverage the technology for blockchain mining. On Wednesday, Alchemy, the leading developer of blockchain platforms, announced the launch of its latest project, AlchemyAI, a GPT-4 plugin for blockchain analysis.

"Our idea here was to specifically address and train a model using ChatGPT that is specific to Web3 development," said Elan Halpern, Product Manager at Alchemy. Decrypt in an interview.

A plugin is a software add-on designed to integrate other applications into ChatGPT. The AlchemyAI plugin, Halpern explained, translates natural language input, such as "Show me the most recent block and transactions in that block," into requests sent to the Alchemy API. It then returns the results in a user-friendly format. .

"It's a real-time query on the blockchain, like a developer would, using the API and writing a code script," Halpern said. "It lets you do it through natural language and normal sentences."

Other GPT-4 plugins for blockchain analysis include DeFiLlama, Sic, and CheckTheChain. Solana Labs also launched its own ChatGPT plugin in May.

Although no public launch date for the AlchemyAI suite was given, Halpern said it includes the ChatGPT plugin and an AI assistant tool called Chat Web3, which assists developers in the programming process. .

"It's like your Web3 partner-matching expert in the space," Halpern said, "allowing you to answer questions and get debugging help."

Launched in 2017, Alchemy is often described as the Amazon Web Services (AWS) of blockchain. The software development company builds apps on multiple networks, including Ethereum, Polygon, Arbitrum, and Optimism.

In February, Alchemy launched an open-source development platform for building decentralized apps called Create Web3 Dapp (or CW3D). He is now turning to AI to harness the technology to help users better understand blockchain.

"What OpenAI does, and the AI ​​space in general, fundamentally improves the user experience," Halpern said. "Entering a question in this chat and getting the result without having to go through a million links and without having to reference other places, is a better experience than before."

But while Halpern is bullish on AI, she acknowledged flaws, including a default information deadline of 2021 for ChatGPT, and AI chatbots' habit of sometimes making up facts, a phenomenon. known in the industry as "hallucinations".

"It's very important to fact-check and double-check," she said. "This is new technology, and we're going to be ultra-transparent about what we're training our models on, so people and developers in particular can know where that information is coming from and the limitations."

"I think [AI] It's a game-changer for everyone," Halpern added. "But we have to make sure that we verify all the information these things spit out at us, including the information that Alchemy uses."