KEY POINTS
- Wire Network calls its UTL the "first true third-generation blockchain"
- Wire Network's UTL offers a no gas route, solving the cost-effective issues earlier blockchains are known for
- The UTL allows AI agents to make "speed-of-thought" fast transactions across various chains
Innovative blockchain platform Wire Network today open-sourced its Universal Transaction Layer (UTL), the first blockchain designed for the AI agent economy, allowing users and developers to work with multiple blockchains without the need for bridges or oracles.
Wire Network calls the UTL the "first true third-generation blockchain," following in the evolutionary path taken by the first-generation Bitcoin and second-gen Ethereum networks.
"We are excited to announce that as of today the Wire Network protocol is open-sourced, and we invite engineers worldwide to help us continue building the blockchain of the AI agent economy," Ken DiCross, founder and CEO of Wire Network, said in a press release shared with International Business Times.
A Game-Changer to Deliver Blockchain's Original Promise
The cryptocurrency community takes pride in Bitcoin as having brought what is deemed "digital gold" into the traditional financial realm, while Ethereum enabled smart contracts – both digital assets have revolutionized the way people transact daily. However, both assets also have lingering issues related to scalability and cost-effective transactions.
Wire Network's UTL is a game-changer in the industry as it looks to finally deliver on blockchain's original promise, "purpose-built for the emerging AI agent economy," Wire Network said.
"AI agents will need to be able to conduct millions of transactions per second across all blockchains. AI is ready, current blockchain infrastructure is not. This is what Wire Network was built for," DiCross noted.
Wire Network is revolutionizing the blockchain side of decentralized systems. With its Universal Transaction Layer, @Wire_Blockchain offers:
— Wire Network 🔗 (@Wire_Blockchain) July 11, 2024
✅ Universal Identity
✅ Fee-less transactions
✅ Seamless interoperability
Imagine AI agents and GPUs with their own identities,… pic.twitter.com/5QALdVGS2o
Blockchain Solutions Specific to AI Needs
The UTL provides the solutions that the AI agent economy has been waiting for:
- No gas – because who wants to pay a dollar to move a dime?
- All chains – no more siloed blockchains
- Right Now transactions – we're talking "speed-of-thought" fast transactions
DiCross explained that Wire Network's UTL is ushering in the financial rails that the AI agent economy needs. "It's like giving AI a global passport and universal currency," he said.
Traditional systems require complex bridges or oracles for crossing blockchain borders. With Wire Network, AI agents can transact across every major blockchain with no gas in a high-speed performance way that opens new possibilities for decentralized AI applications.
Did you know?
— Wire Network 🔗 (@Wire_Blockchain) August 27, 2024
Open source fosters innovation. By allowing developers to build upon existing work, it accelerates the pace of technological advancement and encourages creative problem solving.#opensource #blockchainAI pic.twitter.com/mm17fOX8YZ
The blockchain market is already showing significant interest in Wire Network's UTL. All of Wire Network's Tier 1 nodes, which form the backbone of the blockchain network, were purchased by people who understood the magnitude of the revolutionary technology, the network revealed.
The team behind Wire Network sees the UTL becoming an essential infrastructure that powers the future of finance. By open-sourcing the layer, Wire Network is opening the gateway for developers, researchers, and industry stakeholders to explore and contribute to its development.
For Wire Network, its UTL is not just a new blockchain. Instead, its "the economic foundation for the age of AI." It is an innovation driver that should propel the industry toward a more inclusive tech landscape.
Wire Network is a groundbreaking blockchain technology that leverages an Appointed Proof-of-Stake (APoS) consensus mechanism and tiered node structure to provide efficient infrastructure for decentralized applications (dApps) and AI agents. It allows for paying and earning across diverse chain ecosystems, swapping assets instantly across any chain, and seamless trading of NFTs across blockchains.
