Blockchain technology and artificial intelligence (AI) are about to converge thanks to Bitcoin Virtual Machine (BVM), a Layer-2 launched at the end of February. This initiative promises to democratize access to AI on the Bitcoin network.
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A major breakthrough for decentralized AI on the bitcoin network
The Bitcoin Virtual Machine (BVM) aims to integrate artificial intelligence into the crypto ecosystem. Indeed, in an interview with our Coindesk the main developer of BVM, known under the pseudonym punk3700 announced the launch of “Truly Open AI” a feature that allows all to harness the potential of artificial intelligence.
It will enable users to create and deploy artificial intelligence models directly on the Bitcoin blockchain.
Unlike ordinals, which allow JPEG files to be stored on the blockchain, Truly Open AI goes further by integrating complete neural networks. Users will not only be able to create their own AI models, but also monetize them by charging for each call to their model, or by selling the entire model.
This approach paves the way for a decentralized AI market, where creators will be rewarded for their work and innovation, while benefiting from the security and transparency offered by the Bitcoin blockchain.
What is the Bitcoin Virtual Machine?
Indeed, the Bitcoin Virtual Machine (BVM) is a Layer 2 protocol launched at the end of February, which allows users to create their own networks and interact with smart contracts on the Bitcoin blockchain.
Operating similarly to the Ethereum Virtual Machine (EVM), the BVM uses Bitcoin as a data layer to achieve transaction-level consensus. This approach offers BVM the ability to act as a general-purpose state machine while benefiting from Bitcoin’s data security and availability, without the need for additional modules.
A solid infrastructure to support AI on the Bitcoin blockchain
Implementing AI on a blockchain raises technical difficulties, particularly in terms of storage capacity.
To ensure the smooth operation of Truly Open AI, BVM is based on an ecosystem made up of several major players of the blockchain industry. Filecoin, Near, Avail, Polygon and Syscoin will provide storage layers needed to host AI models.
Although the relationship between AI and cryptography still raises questions, BVM proves that it is possible to run artificial intelligence on a blockchain. Thanks to its modular architecture, BVM allows users to run Bitcoin Layer 2 protocols and offers seamless interoperability with Bitcoin smart contracts. In addition, the project has its own native token, the BVM, which plays a key role in its ecosystem.
Bitcoin Virtual Machine’s announcement of Truly Open AI marks a decisive turning point in the history of blockchain and of artificial intelligence. By enabling users to create, deploy and monetize AI models directly on the Bitcoin blockchain, BVM paves the way for an unprecedented democratization of this revolutionary technology.
As a journalist at Coinpri, I’ve been captivated by the world of bitcoin and blockchain since 2020. The decentralized aspect of Bitcoin particularly piqued my interest. Since then, I’ve been working constantly to spread my knowledge, hoping one day to see a world where everyone fully enjoys their financial freedom.
