Cryptocurrency

Biconomy

Planet

<div class="intro-text">
 Biconomy has<a style="color: #0000ff;" href="https://x.com/biconomy/status/1800477147796001162?t=Y-9AX5MVZwN4UWlbPVmmxA&amp;s=19" rel="noopener noreferrer nofollow"> introduced</a> a new tool that represents a major advancement in combining artificial intelligence (AI)with cryptocurrency management. 
</div>
The tool, called the Delegated Authorisation Network (DAN), is designed to let AI help manage users manage crypto transactions securely.&nbsp;
<a href="https://www.biconomy.io/post/introducing-dan-the-programmable-authorisation-network-for-ai-agents" rel="noopener noreferrer nofollow">According to the Biconomy team</a>, 
<blockquote>
 “DAN is an off-chain authorization network designed to enhance the security, customizability, and speed of managing authorization keys for smart accounts.”&nbsp;
</blockquote>
The key innovation behind DAN is its ability to allow AI agents to act on behalf of users without compromising security. The team<a style="color: #0000ff;" href="https://www.biconomy.io/post/introducing-dan-the-programmable-authorisation-network-for-ai-agents" rel="noopener noreferrer nofollow"> noted</a> that many AI projects struggle because they can’t fully automate tasks without you approving every action. According to them, this issue is solved with DAN because it acts without you signing off on each task as long as it stays within your set limits. This means that the AI tool can handle tasks like authorizing transactions, but only within the strict limits set by the user.&nbsp; For example, you can allow AI to manage small transactions, but it requires your approval for larger ones.&nbsp;&nbsp;
<blockquote>
 “DAN is a big step forward for using AI in the crypto world,”
</blockquote>
the Biconomy team stated. 
<blockquote>
 “It lets AI handle tasks while making sure users stay in control of their assets.”
</blockquote>
Biconomy’s DAN<a style="color: #0000ff;" href="https://www.biconomy.io/post/introducing-dan-the-programmable-authorisation-network-for-ai-agents" rel="noopener noreferrer nofollow"> introduces</a> several key features to support this functionality. It offers fast signature generation, programmatically managed permissions, no additional gas fees due to off-chain authorization, and flexible authentication methods. These features ensure that the AI operates within user-defined constraints, securely storing authorization keys across multiple network nodes to prevent any single point of failure.
The Biconomy team also<a style="color: #0000ff;" href="https://www.biconomy.io/post/introducing-dan-the-programmable-authorisation-network-for-ai-agents" rel="noopener noreferrer nofollow"> noted</a> that the tool would leverage EigenLayer’s Active Verification Service (AVS) to enhance the security and reliability of the delegation process.According to them, this integration ensures that the delegation is both programmable for various use cases and cryptographically secure, bridging the gap between AI adoption and web3 while maintaining self-custody.
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The post <a href="https://defi-planet.com/2024/06/biconomy-launches-new-tool-that-uses-ai-to-manage-cryptocurrency-transactions/" rel="noopener noreferrer nofollow">Biconomy Launches New Tool that Uses AI to Manage Cryptocurrency Transactions</a> appeared first on <a href="https://defi-planet.com" rel="noopener noreferrer nofollow">DeFi Planet</a>.

Biconomy Launches New Tool that Uses AI to Manage Cryptocurrency Transactions

DeFi Planet

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