The world’s largest crypto exchange platform by trading volume is adding support for a new blockchain focused on verifying and validating the outputs of artificial intelligence (AI) models.
In a new announcement, Binance says that it will be adding support for Mira Network (MIRA), which was built over Base, the proprietary blockchain of top US-based crypto exchange Coinbase.
“Binance is excited to announce that Mira (MIRA) will be added to Binance Simple Earn, ‘Buy Crypto,’ Binance Convert, Binance Margin, and Binance Futures.”
News of the addition preceded a massive rise for MIRA, which went from a daily low of $1.22 to a price tag of $2.68 just a few hours later. However, the digital asset has since retraced and is trading for $1.55 at time of writing, a 9% gain over the last 24 hours.
According to its official whitepaper, MIRA is attempting to solve the problem of AI systems making errors, causing them to need human oversight.
“AI systems today face a fundamental challenge: while they excel at generating creative and plausible outputs, they cannot reliably provide error-free outputs, requiring human oversight.
Our decentralized verification network addresses this challenge through a novel combination of content transformation and distributed consensus enabled by crypto-economic incentives, making manipulation both technically and economically impractical.
Unlike traditional PoW (proof-of-work) solving arbitrary puzzles, the Mira network requires meaningful inference computations backed by staked value to ensure honest operation.”
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