The Graph Foundation awarded Semiotic AI US$60 million to support the development of the ecosystem

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The Graph Foundation has announced an eight-year grant of US$60 million to Semiotic AI to expand the startup software company’s research and development capabilities in the fields of cryptography and artificial intelligence.

Specifically, in addition to using zero-knowledge proofs (such as ZK-SNARK) to develop micropayment functions, the partnership will also focus on building the architecture required for automatic and verifiable indexes and queries.

In 2021, Semiotic AI cooperated with Graph to contribute to the development of the ecosystem through a series of measures, such as building a Beta query prediction service, acting as an index operation role, supporting the design of zero-knowledge proof infrastructure, and receiving an initial gift in March of this year. Money and so on.

With this news, Semiotic AI follows in the footsteps of two infrastructure platforms and becomes the core protocol developer on the network. StreamingFast receives US$60 million in funding From the chart in June, the blockchain service provider Figment received $48 million in late July.

Brandon Ramirez, co-founder of The Graph, shared his insights on how Semiotic AI pursues higher economic efficiency and scalability on The Graph through the use of artificial intelligence and cryptography, and pointed out:

“They focused on the same artificial intelligence toolkit that Google Deepmind used to defeat the world’s best Go players and solve the ancient protein folding problem. Graph is about data, just as artificial intelligence plays a central role in all web2 products. This partnership will help the integration of artificial intelligence and the decentralized Internet.”

Graph was launched on the mainnet in December 2020 and quickly became one of the leading indexing and query platforms in the Web3 field. At the time of writing, the network supports indexing of data from 22 networks, including Ethereum, Arbitrium, Avalanche, and promotes more than 22,000 subgraphs including ENS Domains, Compound V2, and Uniswap V2. in.

In early September, Ethereum co-founder Vitalik Buterin touted ZK-SNARK as a potential major technology adoption in the coming decades.

Related: The Graph explores the integration of Bitcoin, Polkadot, and other Tier 1 blockchains

Sam Green, co-founder and CTO of Semiotic AI, also commented on recent partnerships, using telephone and web search as prime examples of how a large number of innovations can flourish from basic technology. He said:

“The research and development work on these utilities has brought countless inventions that have improved communications and knowledge acquisition around the world. As a result of this collaboration, we will also invent new open source technologies, which will enable the users of The Graph and greater Benefit to the web3 community.”