In a groundbreaking development, Ritual, a decentralized artificial intelligence (AI) network, has emerged from stealth mode with a resounding announcement of a $25 million Series A financing round led by Archetype. Ritual offers an AI-powered infrastructure designed to execute c...
Empowering AI adoption in the crypto space
The modular execution layers of Ritual
Ritual’s protocol diagram reveals a sophisticated approach to integrating AI into the blockchain ecosystem. The GMP layer, composed of layer 1, rollups, and sovereign components, facilitates seamless interoperability between existing blockchains and Ritual Superchain. This Superchain operates as an AI coprocessor, serving all blockchains within the network.
The $25 million Series A funding round was met with enthusiasm from prominent investors, including Balaji Srinivasan, Accomplice, Robot Ventures, Accel, Dialectic, Anagram, Avra, and Hypersphere. The infusion of capital will primarily be used to expand Ritual’s developer network and initiate the seeding of the network.
While the unveiling of Ritual’s AI infrastructure is a significant step forward, the recent executive order on AI safety issued by the Biden administration has raised concerns within the AI community regarding potential hindrances to innovation.
The order introduces six new standards for AI safety and security, encompassing mandates such as the sharing of safety test results with officials for companies developing foundation models posing risks to national security, economic security, or public health and safety. Additionally, the order emphasizes the acceleration of privacy-preserving techniques in AI development.