Web3-AI: What's real, and what's hype...

Welcome back to Web3 Creator!

Today, we're diving into the Web3-AI scene, sorting fact from fiction, and predicting its future. Plus, Telegram CEO Pavel Durov predicts 2024 as the year blockchain goes mainstream, with Telegram leading the charge.

Web3-AI: What's real, and what's hype

Web3-AI is buzzing with excitement, but not all of it holds up under scrutiny. Here’s a breakdown of the key challenges, overhyped trends, and real opportunities.

Key challenges in Web3-AI

1. Limited AI talent: Few researchers work in Web3, hindering progress.

2. Constrained infrastructure: Current Web3 infrastructure struggles with AI's computational needs.

3. Resource gaps: Web3 lacks the models, data, and compute power for advanced AI.

Overhyped trends

• Decentralized GPU infrastructure: Faces practical constraints and inefficiencies.

• ZK-AI frameworks: Prohibitively expensive and complex for large models.

• Proof-of-inference: Lacks clear market demand and practical use cases.

High potential trends

• Agents with wallets: AI programs that can execute actions and engage in financial transactions using crypto.

• Crypto funding for AI: Using crypto mechanisms to fund open-source AI projects.

• Small foundation models: Developing smaller, more manageable AI models suitable for decentralized infrastructures.

• Synthetic data generation: Using crypto incentives to create new, synthetic datasets to complement real-world data.

Emerging players

• Network3: Raised $5.5 million to expand decentralized AI infrastructure, boasting 240,000 live nodes worldwide.

Web3-AI holds immense potential, but distinguishing genuine innovation from hype is crucial. By focusing on practical solutions and leveraging decentralization, Web3-AI can truly revolutionize the tech landscape.

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Telegram CEO predicts 2024 as the year of blockchain mass adoption

Pavel Durov, CEO of Telegram, forecasts 2024 as the breakthrough year for blockchain. He announced exciting features like a mini app store and an in-app Web3 browser, designed to integrate blockchain seamlessly into Telegram’s ecosystem.

“We believe 2024 will be the year hundreds of millions become familiar with blockchain. Telegram will be at the heart of this transformation,” Durov shared on his Telegram channel.

New features and security enhancements

To fight crypto scams, Telegram will display registration dates and principal countries for public accounts. Organizations can also use mini apps for decentralized verification, enhancing security.

Decentralized tools for crypto transactions

Telegram plans to introduce non-custodial wallets and decentralized exchanges to facilitate secure cryptocurrency transactions, leveraging technologies like the Open Network (TON) to empower users.

Milestone achievement

Telegram has reached 950 million monthly active users and is on track to surpass one billion, positioning itself as a major player in digital communication and blockchain integration.

With innovative features and a focus on security, Telegram is set to lead the way in blockchain mass adoption in 2024. Stay tuned for more updates as we cover the latest in Web3!