🚀 Crypto Cronos Gets Ready To Catalyze AI Agent Innovation With Pallene Upgrade

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So-called AI agents that can automate key crypto tasks on behalf of their users have a ready-made home on the Cronos blockchain following a key upgrade that dramatically increases the number of transactions it can process.

Cronos said today that it has completed the Cronos EVM v1.4.0 Pallene upgrade, which gives it the capability to support the mainstream adoption of AI agents, one of the most exciting trends in the artificial intelligence industry today.

While generative AI chatbots like ChatGPT tend to steal all of the headlines, many experts believe that AI agents will transform the way we work and invest. AI agents are a more intelligent breed of chatbots that can communicate with their users and carry out all tasks on their behalf. They can do so autonomously, so all the user needs to do is tell it what to do, and then they can sit back and slurp on a coffee, a beer, or whatever kind of tipple takes their fancy.

Examples might include an AI agent that can book a hotel on behalf of their users. Simply tell the agent the town or city you plan on visiting, give it your room requirements, dates, and budget, and it will do the rest – and even schedule that trip on your calendar, should you ask it to. AI agents will also play a key role in customer service. Rather than just replying to people’s questions, they’ll be able to do things on their behalf, such as processing a refund, without involving any humans.

Cronos is more interested in how AI agents can transform DeFi, though. In its roadmap, it envisions a future where AI agents are on hand to help investors automatically buy and sell digital assets at the right moment, balance their portfolios, and even automate activities such as staking, lending, and yield farming to ensure they get the best possible returns from their crypto holdings.

The challenge with AI agents is that they need a rapid network to support them, for there are likely to be millions of them, all operating in real time. Any network that wants to run AI agents must be extremely fast, so Cronos spent months working on the EVM v1.4.0 Pallene upgrade.

That upgrade is now deployed, implementing a key technology called Block-STM that paves the way for parallel transaction processing in a single block. Through this and another new feature called optimistic execution, which leverages the Cosmos SDK 0.50, Cronos now claims to be one of the most scalable blockchains. It can now support up to 60,000 transactions per second, putting it on a par with other blazing-fast networks like Solana.

Pallene also boosts Cronos’ interoperability, introducing an upgraded version of the Inter-Blockchain Communication protocol that enables it to swap assets with other IBC and EVM networks securely and seamlessly. So, Cronos users no longer have to worry about finding a suitable blockchain bridge when engaging with the Cronos DeFi ecosystem.

Ken Timsit, the managing director at Cronos.org, said the Pallene upgrade will boost Cronos’s chances of becoming a key player in a Web3 industry gearing up for mainstream adoption.

“The Pallene upgrade is a defining milestone for Cronos EVM, as it positions the network to meet the scalability demands of next-generation blockchain applications,” he insisted. “The blockchain’s virtual machine can now execute up to 60,000 transactions per second in parallel.”