Semiotic AI receives $ 60 million from the Graph Foundation to aid ecosystem development
Graph Basis has announced a $ 60 million Semiotic AI grant over eight years to empower the startup in research and development in cryptography and artificial intelligence.
Specifically, the partnership will focus on building the architecture needed for automatic and verifiable indexing and chart queries, as well as developing micropayment features using zero knowledge proofs such as the ZK-SNARK.
Over the course of 2021, Semiotic AI teamed up with Graph to contribute to the ecosystem through many initiatives, including the first scholarship this March.
With this post, Semiotic AI is following in the footsteps of the two infrastructure platforms and becoming the main protocol developer on the web. StreamingFast received a $ 60 million round of funding from Graph in June, while blockchain service provider Figment raised $ 48 million in late July.
Graph co-founder Brandon Ramirez shared ideas on how semiotic AI can achieve greater cost-efficiency and scalability in The Graph through the use of artificial intelligence and cryptography.
“They specialize in a suite of artificial intelligence tools that Google Deepmind uses to beat the world’s best Go player and then solve the age-old problem of protein folding. Graphics is all about data, and just as AI plays a central role in all internet products, this partnership will help bring AI and the decentralized web together. ”
Adopted on the mainnet in December 2020, Graph is fast becoming one of the leading query and indexing platforms on the web3. At the time of writing, the network supports indexing data from 22 networks, including Ethereum, Arbitrium, Avalanche, and also supports over 22,000 sub-charts, including ENS Domains, Compound V2, and Uniswap V2.
In early September, Ethereum co-founder Vitalik Buterin touted ZK-SNARK as a potential major technology app for decades to come.
I expect ZK-SNARKs to be a major revolution in the next 10-20 years as they enter the mainstream world.
– importantik.eth (@VitalikButerin) September 2, 2021
Related: Diagram Exploring Integrations for Bitcoin, Polkadot, and Other Level 1 Blockchains
Sam Eco-friendly, co-founder and CTO of Semiotic AI, also commented on the recent partnership, citing mobile and web search as prime examples of how countless innovations can emerge from underlying technologies:
“The research and development of these devices has led to countless inventions that have improved communication and access to knowledge for the entire world. As a result of this partnership, we will be inventing new open source technologies that will benefit both The Graph users and the wider internet3 community. “
