Crypto and AI collaborate again: Justin Sun, the billionaire founder of the Tron blockchain network and BitTorrent, has announced the introduction of a new payment system to support the fast-growing artificial intelligence (AI) tool ChatGPT.
According to the announcement made via a Twitter thread, Sun said that Tron will be very useful in providing a decentralized AI-oriented payment framework for AI systems.
Summary
Crypto in favor of ChatGPT: BitTorrent and TRON’s new system
The news regarding the launch of a new payment system to support ChatGPT is reported by Justin Sun on his Twitter account, which reads:
As an industry-leading decentralized stablecoin financial infrastructure, #TRON will provide an AI-oriented decentralized payment framework for AI systems #ChatGPT and @OpenAI. pic.twitter.com/7GcO7m4vV7
— H.E. Justin Sun 孙宇晨 (@justinsuntron) February 4, 2023
Known for his associated product launches, Tron founder Justin Sun went on to describe the new feature, saying the new protocol will cover smart contracts and payment-level systems.
The pioneering technology developer said the new payment feature will foreground the decentralized file sharing system supported by Tron, BitTorrent to offer a full service.
“The framework comprises the on-chain smart contract system, payment layer protocol, underlying calling SDK, and AI payment gateway. Using the smart contract system to store user queries and AI results on the BTFS decentralized BitTorrent file storage system.”
Justin Sun said in the announcement, adding that the new payment tool is designed to be very secure. As Justin Sun noted, the artificial intelligence-based payment system is designed to enable stablecoin settlement in an easy way.
The underlying, as he pointed out, is to make it easy for artificial intelligence developers to embrace the new service. As he noted, the digital currency duo TRX and BTT will be at the forefront of the new tool to enable complete decentralization of offerings. The tweet reads:
“The payment layer protocol provides support for stable on-chain currency settlement, and the interaction layer provides users with standard settlement and APIs for AI services. TRX and BTT will be deeply involved to achieve fully decentralized storage and DAO governance.”
BitTorrent, Tron and support for OpenAI
It is unclear whether the new payment protocol was launched as a result of a private partnership between the Tron Foundation and ChatGPT’s parent company, OpenAI.
However, as an open source project, the development and introduction of new products and services are welcome, making Tron’s launch of the payment tool a very welcome initiative.
The advent of blockchain technology and the concept of decentralization have been labeled as revolutionary. However, the emergence of ChatGPT as a conversational work assistant has gained unique hype in recent months compared to what some blockchain systems have gained over the years.
In any case, rather than replicating the advances made by OpenAI as embodied in ChatGPT, Tron is paving the way to connect to the growing AI protocol economy to add unique value.
Indeed, Tron remains one of the most revered blockchain protocols in Web 3.0, and with its large community of users, it has the potential to help expand ChatGPT’s embrace across the board.
The introduction of the payment tool for AI services from OpenAI will be a mutually beneficial collaboration for both organizations.
With the planned integration of Oracle services from WinkLink and non-fungible token (NFT) capabilities, Justin Sun is optimistic that the product will mark the next frontier in AI-centric payment technology.
A focus on the price of BitTorrent (BTT) crypto
As we know, BitTorrent (BTT) is a decentralized file sharing protocol that allows users to download files directly from each other. BTT is different from traditional file sharing protocols such as HTTP or FTP in that it does not require a central server to host files.
Instead, each user who wants to share a file creates a “torrent” file containing information about the file and uploads it to a “tracker.” The tracker then keeps track of which users are sharing the file and helps them connect with each other.
When another user wants to download the file, they download the torrent file and open it in their BitTorrent client, connecting them with other users sharing the same file. BTT is an altcoin created by the team behind BitTorrent to incentivize use of the protocol and help reduce congestion on the network. BTT tokens can be used to purchase better download speeds or priority on downloads.
BitTorrent is currently worth $0.00000075110411. BTT has moved 1.66% in the last 24 hours with a trading volume of $15,414,522. BitTorrent is currently ranked 74 among all cryptocurrencies with a market capitalization of $714,616,764.
One factor that could have a significant impact on the price of BTT is adoption by major content providers. If companies such as Netflix or Blockbuster were to start using BitTorrent as a way to distribute their content, it would greatly increase the demand for BTT tokens.
This would likely lead to an increase in price as more people would look to purchase BTT to access this content. Another factor that could affect the price of BTT is developments within the protocol itself.
Should new features or improvements be added that make BitTorrent even more efficient or intuitive, it could lead more people to start using the protocol. This would then lead to an increase in demand for BTT tokens and potentially also an increase in price.
