Transformative Potential of AI-Powered Smart Contracts: Ava Labs Founder

Smart contract programming is difficult, according to Emin Gün Sirer, the founder of Ava Labs. The main problem hindering smart contract development is capturing “intent” and dealing with the complex coding and verification processes. Sirer suggests that artificial intelligence (AI) agents could revolutionize the coding of smart contracts. Instead of relying on coders, lawyers could become the dominant writers of smart contracts in the future. This development would also make it possible for everyday people to write smart contracts in their native language, making it as easy as writing a bank check. Although Sirer believes this future is still five to 10 years away, it has the potential to transform the blockchain industry and bring billions of new users onboard.

Currently, most smart contracts are written in Solidity, which is not well-known even among programmers. To address this, Avalanche, the blockchain developed by Ava Labs, is creating a new virtual machine at the intersection of AI and blockchains. This virtual machine will be programmed in natural languages like English, German, French, and Chinese, simplifying the coding process.

There are obstacles to overcome before AI agents can widely deploy smart contracts. Issues related to legalities, keyword definitions, and unambiguous terms need to be resolved. AI agents must be capable of writing legally binding documents without “hallucinations.” One solution could be submitting transactions to multiple AI agents and accepting a smart contract solution only when they all agree.

Other industry experts believe that smart contracts capable of understanding natural language are already within reach. For example, the AI agent framework Council developed by ChainML could convert plain English instructions into executable code, while Chainlink Developer Hub’s “Ask AI” can return fully formed smart contracts based on user requests. These current offerings still need improvement in terms of quality and complexity.

Despite the progress made, there are many unknowns in the field of smart contracts. Moving forward requires collaboration between individuals with a background in technology, ethics, and humanities. Lawyers will likely play a significant role in the future of smart contracts due to their expertise in using regular language to specify contracts. Average users can also participate, as they are capable of specifying basic transactions. Sirer envisions a future where these new capabilities are built on democratic and open platforms accessible to anyone.

The idea of AI agents simplifying smart contract coding is fascinating and full of potential. It is a development that should not be ignored, and Sirer believes it will shape the future of the blockchain industry.

Bettine Bashir

Bettine Bashir

16 thoughts on “Transformative Potential of AI-Powered Smart Contracts: Ava Labs Founder

  1. The potential to transform the blockchain industry and bring billions of new users onboard is awe-inspiring. Thank you, Emin Gün Sirer, for sharing your insights! 🚀🙏

  2. This is such an exciting development! The intersection of AI and blockchain can unlock new possibilities. 💡✨

  3. The potential of AI agents to shape the future of the blockchain industry is immense! It’s exciting to be a witness to this transformation. 🚀🔮

  4. Collaboration is key to advancing the field of smart contracts. Bringing together technology, ethics, and humanities experts will lead to groundbreaking solutions.

  5. If everyday people can write smart contracts, won’t that increase the risk of errors and vulnerabilities?

  6. Just when programmers have finally grasped Solidity, now they’ll have to learn natural languages too? No thanks!

  7. It’s great to see AI agents and natural language processing making smart contract programming more accessible to a wider audience. The future is inclusive!

  8. Submitting transactions to multiple AI agents? Good luck trying to get them to agree on anything!

  9. I’m skeptical that AI agents can truly capture the intent behind smart contracts without any errors.

  10. It’s fascinating to see the potential of AI agents in simplifying the coding of smart contracts. The future is looking brighter!

  11. The ability to convert plain English into executable code is mind-boggling! The strides being made in AI are truly impressive. 📝🧠

  12. The ability of AI agents to understand natural language in smart contracts is incredibly promising. It will bridge the gap between technology and everyday users. 💬💪

  13. The progress made so far in understanding natural language in smart contracts is astounding. We’re on the brink of a new era in blockchain technology! 🔮🧠

  14. The advancements in AI agents and natural language processing in smart contracts are impressive. The possibilities are endless!

  15. The collaboration between tech experts, lawyers, and everyday people is essential for creating a future where smart contracts are accessible to all. Let’s join forces!

  16. This development in smart contract coding is a game-changer! It opens up opportunities for innovation and increased adoption of blockchain technology. ✨💻

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