The hype surrounding Artificial Intelligence (AI) is sweeping multiple industries, and the digital asset industry appears to be rapidly embracing the technology.

Lightning Labs has become the latest platform to take advantage of the space. The team behind the Bitcoin Lightning Network announced the release of a new developer toolset to enable the Lightning and AI developer communities to seamlessly interact with Bitcoin.

Lightning Labs Leverages AI

According to the official blog post, the newly released toolkit helps AI applications such as OpenAI’s ChatGPT interact with the Bitcoin network to send, receive, and maintain the crypto asset. Lightning Labs explained that the new tools are based on a native Lightning authentication mechanism: L402 protocol. It also uses a popular library called “Langchain”.

The firm also highlighted the issue of rising implementation costs serving as a barrier due to the current billing paradigm, a crucial aspect that Lightning and the L402 protocol seek to address. As such, by leveraging the L402 protocol, any entity with a device connected to the Internet will be able to receive or acquire Bitcoin instantly. Thanks to the Lightning Network, large volume payments can also be made while maintaining privacy.

“We are very excited about the new wave of innovation generated with the latest wave of LLM models. With the L402 protocol and LangChainBitcoin, we can ensure that open models can be accessed through an open payment system, connected to the global set of open APIs. In the end, open source will win out and we are working to provide the tools that make AI more accessible to humans and agents alike.”

LN growth

Despite a slow start, the Lightning Network has been increasingly adopted by cryptographic entities. The scaling solution witnessed tremendous growth as measured by the amount of BTC locked in it. The most recent data shows that there are now over 5.4k BTC on the Lightning Network.

Binance recently announced that it would start running multiple Lightning nodes to take advantage of the Layer 2 scaling solution in a bid to enable cheaper BTC deposits and withdrawals on its platform.

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