Coinbase recently rolled out the Based Agent.
Users can configure or train the AI agent to autonomously trade, stake, transact, and swap crypto assets, as well as integrate smart contracts and register base names.
It takes only three minutes to set it up.
A few days ago, Brian Armstrong, CEO of Coinbase, teased “terminal of truths,” an AI chatbot, about the potential of having its own crypto wallet that’s not controlled by its human creator. He said it would automate sending and receiving transactions as well as trade for the bot.
Due to its vague nature, little did most of us know that it was a hint of the upcoming rollout of Based Agent, following Coinbase’s successful AI to AI crypto transaction experiment around two months ago.
What is Based Agent?
Based Agent is basically an artificial intelligence (AI) agent. It is essentially a bot with artificial intelligence capabilities to simulate human learning, interaction, understanding, decision-making, creativity, and problem-solving. It can exercise autonomy up to a certain degree imposed by its developer or user.
Based Agent benefits from Coinbase’s own software development kit (SDK). It is also powered by ChatGPT maker OpenAI and AI software developer Replit.
How It Works
The platform’s template elevates itself from other AI agents with its Web3 functionality, particularly its revolutionary smart contract functions. The feature allows users to train it to perform various tasks, including smart contract integration, swaps, trades, staking, and registering its own base name.
Lincoln Murr, a Coinbase developer, called Based Agent an “autonomous onchain agent.” According to him, users can easily set up the application, together with its on-chain functions at Base, in a mere three minutes.
To start, users have to acquire Coinbase’s application programming interface (API) key. Next, they should proceed by obtaining another key from OpenAI. After that, they should fork the Replit template.
Demand for Based Agent
Jesse Pollak, head of protocols at Coinbase and Base creator, noted that Based Agent is “just a prototype.” However, he believes the AI agent will “get orders of magnitude more powerful in the weeks ahead.”
Pollak then shared Base’s 2024 mission, strategy, and roadmap toward establishing a new on-chain economy. Its framework, wherein Based Agent is an integral component, is anchored on the following parts:
A developer platform with Base as its underlying infrastructure
An app ecosystem consisting of all the apps built on Base
A capital market with users and liquidity flowing through the apps
Going further, Base aligned its new mission on four pillars, including:
Putting decentralization and scalability centering on quick, affordable, and secure transactions in a decentralized layer 2 (L2) protocol as top priorities
Achieving a long-term north star of making a network that could house over one million on-chain builders
Attracting over one billion people within the ecosystem to catalyze the next wave of global creativity and innovation
Positioning Base as a pivotal component of the on-chain economy by improving its interconnectivity with other Ethereum L2 and other L1 platforms
The post 3 Minutes: That’s All Users Need To Set Up The Based Agent Of Coinbase appeared first on Blockzeit.
