As the cryptocurrency industry evolves, developing teams approach different technologies to improve the future of finance. Ethereum changed its consensus mechanism to achieve sustainability, Binance collaborated with AWS Cloud for enhanced user experience, and Cardano established its own development roadmap.
Hence, every crypto project works towards improvement to fit the upcoming Web3 world and provide innovative solutions for our world. Considering how popular AI has become, blockchains were expected to experiment with it and try enhancing their network’s functionalities.
According to XRP news today, Ripple is one of them. The company has released a new project on the market called XRPTurbo and an AI Agent launchpad for the XRP ledger, through which users will be able to create, monetize, and deploy their AI agents. While the presale has ended, let’s see what this project has to offer the industry.
How Does the New Project Plan to use AI?
The XRPTurbo project has several features that make it a competitive tool:
- AI Agents that users and developers can deploy on the launchpad to automate tasks like blockchain-based activities or social media initiatives;
- Decentralization as AI agents are integrated in the XRPL to automate simple tasks, like creating tokens;
- Holders of XRT, the native token of the project, will be able to deploy their own agents and work together with other agents;
Users can easily engage with the project by using a wallet compatible with the XRP blockchain and purchasing XRP from reputable crypto exchanges. With that, people can buy XRT, the coin needed in the XRPTurbo.
Although the project has barely started, the team behind it has a thorough plan for the future. For example, the coin will be listed on numerous decentralized exchanges in the second quarter, while the third quarter will bring the CEX listing. At the end of the year, it’s time for the XRPTurbo to receive scaling.
Why is the XRPTurbo Such an Important Step Forward for the Crypto Industry?
The XRP ecosystem is thriving with the introduction of artificial intelligence as the trend of real-world assets (RWA) tokenization shapes the emergence of decentralization. AI-driven automation in the world of cryptocurrency can improve yield farming and on-chain data retrieval by pushing the known boundaries of technology.
The XRT presale also thrived due to numerous interested investors, including Solana developers. Considering that partners and integrations of XRPTurbo included CoinTelegraph, BitcoinNews, and CloudFlare, the project is supposed to be a success in pushing for the evolution of the ecosystem.
Another advantage the project received was the perfect market momentum, which included the bullish sentiment around XRP, given its victory against the SEC. Moreover, the strong community engagement contributed to a positive view on the ledger’s capabilities.
Why is AI so Important in the Automation Industry?
Although automation is already present in the world of decentralization, AI could take it to the next level. Indeed, smart contracts automatically operate when the parties involved agree on predetermined terms, which can lessen the dependency on intermediaries for transactions.
However, cybersecurity challenges are present, considering the possibility of bugs in the code. This could change with the help of AI, whose capabilities include identifying bugs and operating on eliminating them, as well as improving the code.
Other use cases of AI in the crypto sector include the following:
- Optimizing blockchain productivity. An example of this development is the Lighting Network, which uses AI to manage liquidity pools and anticipate network conditions;
- Employing intuitive mining. Crypto companies leverage renewable energy sources for mining with the help of AI to lower the carbon footprint of crypto miners;
What about the challenges of AI in crypto?
Despite AI’s massive potential to change and improve cryptocurrency, challenges persist. The tool’s newness might make crypto adoption more difficult. That’s because AI requires a thorough legal framework that’s currently missing on user security and biases in operations.
For companies to offer their services to customers, AI must adhere to frameworks across different jurisdictions. This requirement will increase trust in decentralized organizations, whose commitment to user safety should be transparent.
Other challenges to consider involve the development process of integrating AI in blockchains.
For example, scaling AI in digital ledgers must be done without compromising decentralization or security, especially since ledgers will need to handle large transactions. Moreover, blockchains have to use AI with interoperability in mind to establish an infrastructure of seamless communication and data sharing.
When will AI Become Mainstream in Crypto?
The current challenges can hinder evolution and innovation in the crypto industry, but other factors will determine the moment when AI will be more widely used. For example, the lack of talent in the industry is due to the newness of AI and blockchain technologies, but this will change in the future. Indeed, there’s a steep learning curve for complex smart contract development and AI algorithms.
At the same time, the standardization process of both AI and crypto will take longer due to the fast-changing technologies and increasing complexity of the demanded tools. However, solutions evolve continuously, so the emergence of Web3 won’t be as far as it seems.
What does Web3 Consist Of?
Web3 is the next internet generation. It relies on technologies like decentralization, trust and interoperability, and will redefine data ownership. With advanced AI algorithms and smart contracts technologies, Web3 will handle all current transactional hurdles and make high-tech available for the population.
Other important features of Web3 include metaverse support, which is already implemented by numerous companies worldwide. 3D virtual reality spaces will also become the norm as three-dimensional products, such as VR, AR, and XR (extended reality), improve.
The Future Stands in the Current Updates
The XRPTurbo project is one of the most ambitious initiatives in introducing AI in the crypto industry. It will allow ecosystem contributors to create their own AI agents and use them for different tasks on the ledger, making the blockchain more efficient. At the same time, other blockchain-based projects approach AI to make processes more efficient, fast, and affordable for worldwide adoption.
