Ethereum Wants to Be the Go-To Blockchain for AI Transactions
The dAI Team at Ethereum is at the forefront of a new wave of innovation with the ERC-8004 standard.
Quick overview
- The dAI Team at Ethereum is introducing the ERC-8004 standard, allowing AI to conduct transactions independently and facilitating collaboration without mutual trust.
- Ethereum aims to become a leader in the machine economy driven by AI, leveraging its neutrality, verifiability, and resistance to censorship.
- The ERC-8004 standard includes three on-chain registries: Identity, Reputation, and Validation, addressing trust issues among AI agents.
- Initial applications of AI in Ethereum will focus on micropayments, identity checks, and on-chain verification, with further plans expected later this year.
The dAI Team at Ethereum is at the forefront of a new wave of innovation with the ERC-8004 standard, enabling AI to conduct transactions independently and allowing companies to collaborate without needing to place trust in one another.
Ethereum is currently undergoing a significant transformation as it aims to establish itself as a leader in the machine economy driven by AI. Ethereum is emerging as a fundamental component for autonomous AI transactions due to its neutrality, verifiability, and resistance to censorship. The introduction of the dAI Team by the Ethereum Foundation and the planned ERC-8004 standard are the key elements that will drive this change. They will enable AI agents to collaborate across different organizations without needing to rely on mutual trust.
Davide Crapis, responsible for the new project, mentioned that the aim is to support Ethereum’s growth over time. He said, “Our ecosystem needs this,” emphasizing that the choice was made in response to the people’s requests, rather than a pre-established policy shift.
The AI team will be divided into two sections within the Foundation: one focusing on protocols and the other on ecosystems. The dual function will primarily focus on creating products and assisting AI engineers in becoming familiar with Ethereum’s decentralized ecosystem.
This concept is centered around the ERC-8004 standard. This is a new framework that establishes three on-chain registries: Identity, Reputation, and Validation. These registries address the significant issue of trust in the interactions among AI agents. The Identity Registry assigns each agent a unique identity that is protected from censorship, while the Reputation Registry monitors performance data to generate credibility scores. The Validation Registry ensures that tasks are completed accurately by having another party verify them, either through financial stakes or cryptographic proofs.
Crapis mentioned that the draft is receiving considerable attention. “It gained a lot of attention really fast,” he added. “We believe that’s something that can already have a significant impact.” Researchers believe the plan will aid in preventing misuse and enhance the connections between AI and individuals.
Some of the initial applications of AI in Ethereum involve micropayments, which often feature stablecoins, identity checks, and on-chain verification. Crapis mentioned that the dAI team will assist in clarifying matters and providing support in these areas. A plan is anticipated later this year.
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