Biconomy ship DAN stack for AI on-chain delegation

Web3 infrastructure startup Biconomy has launched a solution that supports secure delegation of on-chain operations to AI agents.

Biconomy’s Delegated Authentication Network (DAN) will address the lack of autonomy for artificial intelligence (AI) agents in crypto, according to the firm’s co-founder Aniket Jindal. The blockchain founder also touted DAN as a mitigating tool against security concerns arising from AI’s potential complete control over wallet keys.

As crypto intersects with AI, users have adopted skepticism about these models’ abilities to withstand compromises or execute complex tasks linked to on-chain activities.

Jindal said the collaboration with Silence Labs for DAN solves this problem by enabling AI agents to optimize and authorize blockchain transactions without compromising self-storage applications. Biconomy’s delegated protocol allows AI agents to access keys stored in EigenLayer’s Actively Authenticated Services (AVS).

Called “Authorized Authentication” keys, the keys allow AI-powered parameters to “securely navigate complex on-chain tasks” and unlock new use cases in the crypto space, Jindal said on June 11.

Biconomy’s DAN stack promises to support what some experts describe as a key feature for mass adoption: offering automated processes for managing transactions and other blockchain-related efforts.

This idea complements account abstraction, a growing trend involving on-chain communities, especially in Ethereum (ETH). Biconomy is also based on this innovation, boasting over three billion volumes, five million built-in users and 1.2 million smart accounts, according to details on the company’s website.

Meet Biconomy DAN!

Delegated Authorization Network

🤖Securely delegate AI agents to authorize transactions on behalf of users
🧑‍⚖️Only within user-defined scoped permissions
🔐Increasing economic security @eigenlayer

Created with @silencelabs_sl 🧡 pic.twitter.com/bUitA8RQAO

— Bikonomi (@bikonomi) June 11, 2024