Accelchain Receives Decentralized Futures Grant

Investing.com – Generative AI DevOps and security cloud specialist, Accelchain, has received a Decentralized Futures Grant to further develop its platform for decentralized applications (dApps) within the Polkadot ecosystem.

The grant will support the integration of Accelchain’s platform with Substrate, a framework used for building decentralized applications in Polkadot. This process allows developers to create and deploy Substrate-based dApps without writing code, according to Accelchain’s statement.

Accelchain plans to expand its community by targeting developers and enterprise partners. The company has formed partnerships with node providers, including Google (NASDAQ:GOOGL) Cloud, and is running developer acquisition programs at universities and DAOs.

The company, which launched its no-code platform in October 2023, currently has around 2,000 developers using its platform and expects this number to grow to 20,000 by the end of 2024. The platform utilizes Large Language Models (LLMs) to generate dApps based on user requirements, validate business logic, and secure applications during runtime.

Moreover, Accelchain’s AI model can detect and block malicious transactions in real-time, protecting Web3 applications from exploits such as front-running and sandwich attacks.

Founded by Krishna Srinivasan and Ram Shanmugam, Accelchain has presented a roadmap focused on achieving Polkadot compatibility while expanding its developer community through workshops and hackathons.

Srinivasan and Shanmugam previously co-founded AutonomIQ, a generative AI software testing platform acquired by Sauce Labs. The Accelchain team also includes former employees of Google and ServiceNow (NYSE:NOW).

In addition, the Web3 Foundation is offering a 10 million DOT prize pool, worth around $65 million, to support the rollout of the Join-Accumulate Machine (JAM) upgrade in the Polkadot ecosystem. This initiative aims to build a decentralized network capable of handling diverse computational tasks within the ecosystem. To participate, entrants must meet specific criteria such as importing and producing blocks, achieving performance benchmarks on Kusama and Polkadot, and passing security checks.