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The excitement surrounding Artificial Intelligence (AI) is impacting various sectors, and the digital assets sector seems to be quickly adopting the technology.
Lightning Labs has emerged as the latest platform to explore this domain. The team responsible for the Bitcoin Lightning Network has announced the launch of a new suite of developer tools designed to facilitate interaction between the Lightning and AI developer communities with Bitcoin.
Lightning Labs Engages with AI
As stated in the official blog post, the newly introduced toolkit supports AI applications like OpenAI’s ChatGPT in interacting with the Bitcoin network for sending, receiving, and storing the cryptocurrency. Lightning Labs clarified that these new tools are based on a Lightning-native authentication system known as the L402 protocol. Additionally, it incorporates a widely used library called “Langchain.”
The company also pointed out the challenge of escalating deployment costs, which act as a barrier due to the existing billing model, a significant issue that both Lightning and the L402 protocol aim to resolve. By utilizing the L402 protocol, any entity with internet access will be able to receive or obtain Bitcoin instantly. Thanks to the Lightning Network, large transactions can also be executed while maintaining privacy.
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“We’re extremely excited about the new wave of innovation brought about with the latest wave of LLM models. With the L402 protocol and LangChainBitcoin, we’re able to ensure the open models can be accessed using an open payment system, connected to the world’s set of open APIs. In the end, open source will win, and we’re working to provide the tooling to enable greater accessibility to AI for humans and agents alike.”
LN Expansion
Although it had a slow beginning, the Lightning Network has been progressively adopted by cryptocurrency organizations. The scaling solution has experienced significant growth, as evidenced by the volume of BTC secured within it. Recent data indicates that there are now over 5.4k BTC on the Lightning Network.
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Binance recently revealed plans to operate multiple Lightning nodes to utilize the layer-2 scaling solution, aiming to facilitate lower BTC deposits and withdrawals on its platform.
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