We’re thrilled to announce that ChainML has joined the Chainlink BUILD Program. As a part of BUILD, we aim to accelerate ecosystem growth and the long-term adoption of ChainML’s decentralized Machine Learning (ML) protocol by gaining enhanced access to Chainlink’s industry-leading oracle services and technical support while incentivizing greater cryptoeconomic security. In return, ChainML will provide network fees and other incentives to Chainlink service providers, such as stakers, as part of Chainlink Economics 2.0.
AI and ML models present an exciting opportunity to advance the performance of smart contracts across a wide range of use cases such as credit scoring, risk management, and trade management for DeFi. In gaming, NFT marketplaces, and social, ML can power more sophisticated recommendation engines and fraud detection. In order to help ensure that the space leverages these technologies in a way that stays true to the core values of Web3, we are developing a tamper-proof and scalable protocol for decentralized ML and related complex data-driven computation.
Along with building out the technical protocol mechanisms to achieve consensus and scale effectively, we are fostering a community of independent actors to provide compute capacity, datasets, and ML models. To help meet our technical requirements in a decentralized manner and grow our community, we recognized joining Chainlink BUILD as an exciting opportunity.
ChainML joined BUILD to maximize the benefits of security and reliability that the Chainlink oracle infrastructure provides. As part of BUILD, we will receive key benefits, including access to and integration of Chainlink services, access to new Chainlink product alpha and beta releases, dedicated technical support by the Chainlink Labs team, and more.
For example, ChainML can use Chainlink Automation to check and trigger updates for AI/ML models that dynamically optimize on-chain, algorithmic trading strategies. These models might incorporate trading volumes, volatility, gas, slippage, MEV, sentiment, or any number of conditions. By using Chainlink Automation, ChainML can help ensure trades are executed on-chain according to the model's optimal timing and trade size, avoiding the gas expense of repeatedly checking conditions on-chain.
As part of our commitment to the BUILD program, ChainML has committed 5% of the protocol’s token supply to be used as an economic incentive for Chainlink stakers. These economic incentives will be made available to Chainlink service providers over time to help ChainML fully realize the benefits of being part of the Chainlink ecosystem.
“We’re thrilled to join Chainlink BUILD, which will help accelerate the adoption of decentralized machine learning across the industry. Chainlink services are critical for developing a protocol that’s both performant and decentralized, and we look forward to continued collaboration with the Chainlink ecosystem. Ultimately, we aim to develop new AI and machine learning models that drive Web3 innovation forward.”—Ron Bodkin, Founder and CEO, ChainML
Chainlink is the industry-standard Web3 services platform that has enabled trillions of dollars in transaction volume across DeFi, insurance, gaming, NFTs, and other major industries. As the leading decentralized oracle network, Chainlink enables developers to build feature-rich Web3 applications with seamless access to real-world data and off-chain computation across any blockchain and provides global enterprises with a universal gateway to all blockchains.
ChainML is building a tamper-proof protocol for decentralized computation to unlock artificial intelligence and machine learning and other complex data-rich computation for Web3, extending the power of blockchains. ChainML simplifies using AI/ML in smart contracts, dApps and wallets with easy integration, censorship resistance and scalability while enabling third party extensions for user choice of AI/ML algorithms.
Learn more about ChainML by visiting chainml.net