Near Protocol’s AI: Transforming Crypto Trading with Open Source Tech

I just came across this new crosschain AI agent from Near Protocol and it’s kind of wild. Apparently, it can launch memecoins in seconds and even search the web to buy stuff with fiat. This could really shake up how we do crypto trading, but I’m still on the fence about it.

What’s Up with Near Protocol’s AI Assistant?

Near Protocol’s co-founder, Illia Polusukhin, introduced this AI Assistant at some conference in Bangkok. The dude is pretty impressive himself; he was part of the team that developed the Transformer tech behind ChatGPT. Anyway, during his demo, he showed how the AI could create a whole backstory for a new Frog memecoin—website and logo included! He even launched it on Near’s version of Pump.fun. Talk about flexing.

The assistant also helped him find a custom T-shirt printer by creating a mock-up website that made ordering merch super easy. But here’s the kicker: those functionalities aren’t even live yet!

The Potential of Crosschain AI

What really caught my attention is how this AI isn’t just limited to launching memecoins. Future updates might let it book flights or order food from Web2 sites. But as Polusukhin pointed out, anyone can build additional features since it’s open-source.

“So part of our launch is to showcase what’s possible, and then let people go build lots of different integrations,” said Polusukhin.

The Tech Behind It: Near Intents

One of the coolest things about this AI Assistant is its chain abstraction technology called Near Intents. Basically, it lets you swap any asset for another just by signing a transaction. It’s currently in beta but allows native swaps between Bitcoin, Ethereum, Arbitrum, Base, and—of course—Near Protocol.

What’s neat is that unlike other crosschain methods which often rely on intermediary assets or atomic swaps, Near Intents uses smart contracts on Near that communicate through chain signatures. This makes things both more efficient and secure.

How Does This Change Crypto Trading?

Integrating AI with blockchain tech like this could make crypto trading way easier and safer. The AI can automate tasks that usually take a lot of manual work—like launching coins or doing crosschain transactions.

Plus, the way Near’s chain abstraction works simplifies everything for users by letting them seamlessly swap assets across different blockchains without having to jump through hoops.

Looking Ahead: Automated AI Trading

If you ask me, automated trading using something like this could be huge down the line. Since it’s open-source, everyone can pitch in to make it better—and safer! And as more features roll out (like maybe ordering pizza?), its usefulness will only grow.

Another interesting angle? The possibility for different AIs to collaborate on tasks! Imagine one agent delegating work to another one that’s specifically designed for opening bank accounts or something equally complex.

Is It All Good? Ethical Considerations

Now let’s talk ethics for a second. Being open-source actually helps here because everyone can check the code and see what’s up—transparency at its finest! Plus, there’s an emphasis on data sovereignty so users know exactly how their data is being used (or not used).

In fact, this aligns perfectly with the idea of user-owned AIs where you control your own data and assets instead of some shady centralized entity hoarding everything.

Final Thoughts

All in all, I think Near Protocol’s AI Assistant has some serious potential to change up crypto trading as we know it—with its open-source nature and advanced capabilities leading the charge. As it evolves further (and gets more features), it might just become an essential tool for anyone involved in crypto.

So yeah… I’m cautiously optimistic about this one!