HomeNEWSTron unveils $100m AI and web3 development fund

Tron unveils $100m AI and web3 development fund


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Popular decentralized, open-source blockchain smart contract, Tron has unveiled its $100 million AI and Web3 development fund. The protocol announced the development in a statement on its website on Thursday. Through the funding, Tron intends to encourage developers to create application on its blockchain using the emerging AI tools, including OpenAI’s ChatGPT both in the backend and frontend of development.

Notably, the development fund emerged as part of Tron’s moves to integrate AI with its blockchain network. According to Tron Founder, Justin Sun, AI is transforming the tech industry. He further that Tron is at the fore front of this revolution with its AI-oriented integration.

More so, Sun said the platform intends to offer AI oriented decentralized payment framework for ChatGPT and OpenAI. In addition, he noted that Tron oracle WINKLink would integrate AI Oracle services and provide the most accurate on-chain data for users. According to the co-founder, Tron aims to work together with DeFi applications to foster the AI experience of its users.

Furthermore, Sun wants developers to start maximizing their capacities by combining AI technology with the security and efficiency of the blockchain. Meanwhile, Tron aims to focus the funds on four major areas of AI. They include an AI service payment platform, AI-infused oracle, AI-informed investment management services, and AI-generated content.

Tron seeking to expand its ecosystem

Over time, Tron has been unrelenting in its bid to expand its ecosystem. Recall that in December 2022, Tether, a major blockchain-enabled platform launched a new stablecoin on its ecosystem. Through this, Tether aims to continuously leverage on the prospects of the Tron blockchain transport layer. Notably, the stablecoin identified as Chinese Yuan connect two of the world’s greatest economies and make it easier for consumers to trade in a reliable digital form. According to Tether CTO, Paolo Ardoino, the launch on TRON ecosystem is a step towards achieving the company’s goal of pioneering stablecoin technology.

In 2022, Tron also launched USDD, a decentralized stablecoin. According to the protocol, it aims to utilize the power of mathematics and algorithm to ensure financial freedom for every users. Notably, it decided to issue the USDD as TRC token on its network. Also, it makes the stablecoin in a way that it won’t be dependent on any centralized institutions.

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David Idowu
David Idowu
David Idowu is a crypto reporter and trader with wealthy years of experience. He believes that blockchain technology has numerous opportunities that are begging for proper utilization. Away from work, David is either reading about World Politics, History or Tech Innovations.

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