AI News: Coinbase Unveils Revolutionary AI-to-AI Crypto Transaction on Base Sepolia Network

AI-to-AI Crypto Transaction Milestone

On August 30, 2024, Coinbase, the US' largest publicly traded crypto exchange, managed its first AI-to-AI crypto transaction. This milestone, announced by Coinbase's CEO Brian Armstrong, represents a significant leap forward in the intersection of artificial intelligence and the crypto industry.

Utilizing Base Sepolia Network

• Coinbase conducted these transactions on the Base Sepolia Network, known for its scalability and low costs.
• The network provided an ideal environment for launching AI-driven transactions.
• Advanced Multi-Party Computation (MPC) technology was employed by Coinbase to create a secure AI agent wallet.

Revolutionizing Transaction Methods

This secure wallet ensured that transactions remained controlled and tamper-proof. Following wallet creation and funding via a faucet method, the AI agent could seamlessly transfer crypto assets to another wallet. This wallet could either belong to a human user or another AI agent, demonstrating the versatility of AI-to-AI transactions.

• AI agents can now operate autonomously in decentralized financial systems.
• These transactions allow AI to interact with other AI entities, humans, and merchants.
• AI agents can acquire resources and pay for services without human intervention.