On the latest episode of the CryptoCurrents podcast, host Monika Proffitt sat down with Yogesh Pulivarthi, Head of Developer Relations and Business Partnerships at Owlto Finance. They discussed the company’s mission and innovations, and they are overcoming to bring AI-driven solutions to the blockchain space.
Simplifying Blockchain with AI
Owlto Finance’s mission is to lower the entry barriers to the Web3 world. This is necessary because, despite the technological advancements in blockchain, the industry remains complex and inaccessible to many. The first step toward that is integrating AI into Owlto’s cross-chain protocol to simplify user interactions.
The ultimate goal of the integration is to allow users to perform on-chain activities using natural language inputs. Imagine being able to purchase Ethereum by simply typing, “I want to buy Ethereum,” and having the AI agent analyze and suggest the best path to complete the transaction.
The result will be a blockchain ecosystem that is more intuitive and user-friendly, particularly for those unfamiliar with cryptocurrencies. The intent-centric functionality Owlto is developing will streamline processes that currently require multiple steps and signatures, making blockchain transactions as simple as interacting with a web app.
Overcoming Challenges in AI-Driven Blockchain Solutions
Despite good intentions, implementing AI within a decentralized network is no small feat. One of the significant challenges is the scalability of blockchain networks. AI algorithms require significant computational power, which can be difficult to achieve within the decentralized framework of blockchain.
Additionally, data privacy and security are critical concerns, so ensuring AI models can access and process data without compromising user privacy is a top priority.
To tackle these challenges, Owlto is leveraging off-chain computation and secure data-sharing protocols. While the journey is complex, the team remains optimistic about their progress and the potential impact of their work.
Expanding Horizons with Owlto
Owlto Finance’s platform supports transfers across 45 blockchains, including major ecosystems like Ethereum, Solana, and Bitcoin. With a user base of over 2 million, the platform continues to expand, focusing on enhancing user experience and security. Recently, the company completed a significant funding round, raising $8 million to further develop its technology and improve its user interface.
One of the standout features of Owlto’s platform is its commitment to a seamless user experience. While the underlying technology is crucial, the team recognizes that making the platform accessible and intuitive is key to attracting and retaining users. As Yogesh explained, the goal is to make Web3 as user-friendly as Web2, where clean UI/UX and simple interactions are the norms.
Owl-mazing Summer and Upcoming Airdrop
Owlto’s commitment to its community was evident in its recent “Owl-mazing Summer” event, a campaign designed to increase engagement and reward users. Participants could earn unique owl NFTs and other prizes by participating in various activities on the platform. This event was part of a broader effort to rejuvenate interest in NFTs following a period of market downturn.
Looking ahead, Owlto is gearing up for a significant airdrop event. Scheduled for the end of Q3 2024, the airdrop will reward users based on their engagement with the platform. Users can earn points through activities like cross-chain bridging and referrals, with these points translating into tokens once the airdrop takes place.
Although details on the tokenomics are still under wraps, the airdrop is highly anticipated, with Owlto planning to announce further details as the event approaches.
A Bright Future for Cross-Chain Transactions
As Owlto Finance continues to innovate, its focus remains on security, user-centric design, and the seamless integration of AI. Rated AA by Certik, a leading blockchain security firm, Owlto is committed to maintaining the highest standards of security while pushing the boundaries of what’s possible in the blockchain space.
For those interested in the future of blockchain technology, Owlto Finance is a company to watch. Whether you’re a developer looking to integrate with their protocol or a user eager to participate in their upcoming airdrop, Owlto is poised to make significant strides in making blockchain more accessible and user-friendly for everyone.
