YeagerAI has just closed a $7.5 million seed round for its groundbreaking project, GenLayer, with North Island Ventures leading the charge. This significant funding boost also includes support from top-tier web3 VCs like Node Capital, Arrington Capital, TykheBlock, ZK Ventures, and many more, including influential angel investors. The new capital will propel GenLayer’s mission to redefine smart contracts through artificial intelligence.
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GenLayer, the world’s first Intelligent Blockchain, is designed to push the boundaries of what smart contracts can do. By harnessing the power of Large Language Models (LLMs), GenLayer introduces “Intelligent Contracts” that integrate with the Internet to make nuanced decisions in a decentralized framework.
These contracts can process natural language and manage complex, non-deterministic tasks, paving the way for innovative decentralized protocols and features previously unattainable with conventional blockchain technology.
Travis Scher from North Island Ventures expressed enthusiasm, stating:
“GenLayer is using the latest in AI to bridge more of the internet with blockchain, enhancing current dApps and unlocking new potentials. We’re excited to support Albert and his team in this pioneering venture.”
Travis Scher, North Island Ventures
Echoing this sentiment, Amos Meiri from Node Capital highlighted, “GenLayer tackles the industry’s need for human intervention and access to real-world data by leveraging AI, opening doors to fresh use cases. We’re thrilled to be part of this journey.”
Innovative Consensus Mechanism
At the core of GenLayer’s architecture is a unique consensus mechanism known as Optimistic Democracy. This system uses a delegated Proof-of-Stake (dPOS) approach, involving five randomly selected validators, each linked to a distinct LLM. The process begins with a proposed output from one validator, which is then vetted by the others.
If a majority agrees, the transaction proceeds; if not, a new leader is chosen. This setup includes an appeal window where participants can challenge decisions, further ensuring accuracy and fairness.
GenLayer stands out by allowing Intelligent Contracts to deliver variable outcomes, relying on an equivalence principle set by the application developers to maintain trust and transparency, unlike traditional blockchains that yield deterministic results.
Albert Castellana, Co-Founder and CEO of GenLayer, remarked, “We’re thrilled about the potential of GenLayer to create a zero-to-one innovation. Our gratitude goes to our investors for supporting our vision. AI-driven consensus on subjective matters will significantly broaden the scope of decentralized applications.”
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About GenLayer
GenLayer, developed by YeagerAI, is pioneering the Intelligent Blockchain space. It enables smart contracts to use AI and tap into Internet knowledge to make decentralized decisions, introducing a new era of smart contract capabilities beyond the current blockchain limitations.
Founded by CEO Albert Castellana, CPO Edgars Nemše, and CAIO José María Lago, YeagerAI brings over a decade of expertise in blockchain and AI innovation. Albert, co-founder of the NEM.io Foundation and former CPO at RadixDLT, and Edgars, co-founder of StakeHound, along with José, who designed advanced AI diagnostics at Methinks AI, are driving this latest groundbreaking initiative.
Discover more about GenLayer at GenLayer.com.
