Biconomy ship DAN stack for AI on-chain delegation

Web3 infrastructure startup Biconomy has launched a solution that supports the safe delegation of on-chain operations to artificial intelligence agents. 

According to the firm’s co-founder, Aniket Jindal, Biconomy’s Delegated Authorization Network (DAN) will address the absence of autonomy for artificial intelligence (AI) agents in crypto. The blockchain builder also touted DAN as a mitigating tool against security concerns stemming from AI’s potential complete control over wallet keys. 

As crypto intersects with artificial intelligence, users have espoused doubts about these models’ ability to withstand compromises or to execute complicated tasks connected to on-chain activity. 

Jindal said its collaboration with Silence Labs for DAN solves this by enabling AI agents to optimize and authorize blockchain transactions without jeopardizing self-custody practices. Biconomy’s delegated protocol grants AI agents access to keys stored on EigenLayer’s Actively Validated Services (AVS).

The so-called “Delegated Auth” keys allow AI-powered parameters to “securely navigate complex on-chain tasks” and unlock new use cases in the crypto space, per Jindal in a statement on June 11. 

Biconomy’s DAN stack promises to support what some experts have described as a key feature for mass adoption – delivering automated processes for handling transactions and other blockchain-related efforts.

The idea complements account abstraction, a development trend sweeping through on-chain communities, especially on Ethereum (ETH). Biconomy is also building on this innovation, boasting over three billion in volume, five million onboarded users, and 1.2 million smart accounts, per details from the firm’s website.