Thanks to the popularity of ChatGPT, artificial intelligence is starting to reshape crypto trading and the world of DeFi. In this post, let’s list the most innovative tools, everyday use cases and hot developments from projects using Blockchain and AI technology.
Overview of the latest tools and techniques involving AI and Blockchain technology
After its launch in November 2022, ChatGPT has made artificial intelligence the trending sector of the cryptocurrency market. This momentum led to a massive explosion in AI coins in early 2023. It also initiated the search for possible integration with ChatGPT for crypto investors. In the continuation of the article, let’s take a look at the latest AI tools over crypto trading bots, centralized DeFi bots and AI bots.
Crypto trading bots
Since automated trading bots are already popular with stock market traders, it’s no surprise that the same tools and techniques are now being adapted for crypto trading. There are now crypto trading bots powered by ChatGPT, crypto investment portfolios designed by ChatGPT, and even ChatGPT crypto market prediction contests.
Even if you have no prior coding experience, you can write your own crypto trading bot using ChatGPT. ChatGPT can generate computer code based on a simple natural language prompt.
Binance Adds This Altcoin That Makes 4xFor example, if you want a Bitcoin trading strategy that focuses on long-term returns, you could ask ChatGPT something like, “Give me the computer code for the dollar-cost-averaged (DCA) Bitcoin strategy.” You will have the computer code in seconds. ChatGPT will tell you what parameters you need to set (for example, “purchase frequency” and “purchase quantity”), as well as from where it pulls Bitcoin price data.
DeFi bots
AI also has the potential to revolutionize the world of DeFi. After all, the smart contracts used in DeFi are small self-executing bits of code.
Type “Give me the computer code for an NFT smart contract that pays royalties on every NFT sale” into ChatGPT. It will give you the code instantly. It can also write these smart contracts in Solidity compatible with Ethereum. These types of DeFi bots go far beyond just chatting about DeFi. They will soon have the ability to move funds between different crypto wallets and connect to different DeFi protocols.
AI bot marketplaces
However, not all ChatGPT powered bots have to be used for trading. You can also use ChatGPT for risk management. For example, Coinbase now uses ChatGPT for token risk analysis. Before adding a new digital asset to its trading platform, Coinbase is reviewing it with the help of ChatGPT.
The place to find these bots will be in open source code repositories like GitHub, directly on the sites of major cryptocurrency exchanges, or in brand new AI bot markets where it will be easy to “rent” bots to perform certain financial tasks. . Too tired to rebalance or optimize your portfolio? You just need to hire an AI bot to take care of this for you.
For example, SingularityNET (AGIX) offers an expanding array of AI bots to rent on its platform. Currently, many of these bots focus on tasks such as speech and image recognition. But there are also some bots that claim to be very good at market and data analysis.
Things to keep in mind
Be aware that almost everything associated with ChatGPT is still largely in beta. We really don’t know how productive AI models like ChatGPT will perform in the long run. Also, it doesn’t know on any data after 2021. cryptocoin.comAs we have reported, we briefly mentioned that in a letter signed by Elon Musk, a call for a 6-month break from AI technology was made.
