- Chromia has partnered with Chasm Network to provide decentralized data storage for AI decision-making processes.
- Chasm Network will launch its native token, Chasm AI ($CAI), on October 24, using Mantle’s Ethereum Layer-2 rollup.
Chromia, a Layer-1 relational blockchain, has announced a strategic investment and technical partnership with Chasm Network, a leader in decentralized artificial intelligence (AI). This partnership is expected to increase the use of blockchain technology to create an accountable AI system through a transparent framework for decision-making.
Chasm Network built on Mantle, an Ethereum Layer-2 rollup will be launching its native token Chasm AI ($CAI) on 24th October. The platform’s main goal is to create a decentralized AI system that will allow users to gain access to the processes which are used by AI. Chromia will enhance this system by acting as a decentralized layer for the storage of AI inference data where the data will be immutable and tamper-proof.
Why is #Chromia, a relational blockchain, the right partner for @ChasmNetwork to store their AI inference data?
Chromia is uniquely suited to serve as a data utility layer for EVM projects that want to decentralize their data.
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— Chromia | Power to the Public (@Chromia) October 21, 2024
The integration with Chromia is based on the Chasm opML Database, a Decentralized Application being developed on Chromia’s mainnet by Chasm Network. This application creates open and tamper-proof records to ensure that users can validate the data inputs that underlie an AI decision. The first iteration of the Chasm opML Database has been deployed, illustrating how Chromia’s relational model can effectively handle the storage of AI inference processes that generate large amounts of data.
KC Thee, a co-founder of Chasm Network, noted that this partnership is important because Chromia’s architecture is designed to address the challenges of data storage. He noted that the collaboration guarantees that the AI systems using Chasm’s inference mechanisms cannot be tampered with, are not centralized, and are transparent, given that there are no issues with bias or manipulation in AI.
Blockchain and AI Integrations Increase Globally
Chromia and Chasm Network partnership shows Chromia as a utility layer for EVM-based projects that can optimize and secure the data storage for decentralized AI models. Chromia will strengthen Chasm Network’s ability to store the data needed for AI applications, making Chromia a valuable partner for data-centric projects within the blockchain sector. Chromia’s Head of Business Development Yeou Jie also chimed in with the same sentiment, pointing out that this partnership shows Chromia’s capability of plugging into projects centred on complicated use cases.
Additionally, the collaboration between Chromia and Chasm Network is part of a larger trend in which AI and blockchain are becoming increasingly intertwined. According to a recent report, As of 2024, 40% of global companies have integrated AI into their operations, while 42% are actively exploring its use.
This means that 82% of companies across the world are either implementing AI or planning to implement it. The rise in the use of AI is due to increasing awareness of the opportunities it brings in terms of increasing productivity and decreasing expenses.
This change is being spearheaded by larger companies especially those with more than 1000 employees. The current market value of AI is estimated to be $21.5 billion, and it is expected to grow at a CAGR of 44.1% between 2018 and 2023, and at a CAGR of 37.3% between 2024 and 2030 to reach $1.85 trillion.
