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HomeCryptocurrencyBiconomy announces the launch of AI Agents for On-chain Transactions

Biconomy announces the launch of AI Agents for On-chain Transactions

Popular Web3 infrastructure platform Biconomy has announced the launch of Biconomy DAN (Delegated Authorization Network) to enable the next revolution in crypto. This involves using artificial intelligence (AI) agents to safely perform on-chain activities on behalf of users.

AI agents can authorize transactions on behalf of users with DAN, but only within the scope of permissions that the user has defined and by utilizing Eigenlayer AV’s economic security. 

DAN’s ability to enable secure AI delegation while upholding self-custody is helping to close the adoption gap between AI and Web 3. The goal of DAN, an off-chain authorization network, is to improve the speed, security, and adaptability of smart account authorization key management. Biconomy DAN provides a safe and non-custodial method for carrying out off-chain authorizations by combining Ethereum’s economic security with the state-of-the-art MPC network from Silent Lab via EigenLayer.

DAN guarantees that the delegation is both cryptographically and financially secure and programmable for any use case, opening up a plethora of AI-powered use cases in Web 3. It advances the industry’s vision of AI serving as a reliable intelligence layer to enhance and streamline users’ on-chain experiences.

According to the statement, DAN solves the problem of AI and intent-related projects in Web3 with the mission of leveraging AI through programmable authorization, selectively allowing AI agents to have access to user’s ‘Delegated Auth’ keys stored on AVSs to authorize these transactions, and ensuring delegation is secured by leveraging Ethereum’s economic security via EigenLayer AVS node operators.

Furthermore, some of the benefits of Biconomy DAN include superfast signature generation, which means it can produce signatures in tens of milliseconds or less, guaranteeing quick and effective off-chain authorizations without compromising security, permissions can be managed programmatically, no additional gas fees, EigenLayer Economic Security, and off-chain authentication including social login, passkeys, and sign-in with Ethereum (SIWE). 

Using DAN has many advantages, such as better on-chain experiences with AI-powered agents and the ability to keep control over assets and transactions. DAN moves the industry one step closer to the goal of AI serving as a trusted intelligence layer to enhance and streamline users’ on-chain experiences by offering a safe means of assigning tasks to AI agents.

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