Web3 startup Biconomy launched the Delegated Authorization Network (DAN) on June 11, 2024, enabling safe AI on-chain delegation. This innovation tackles the lack of autonomy for AI agents in crypto, addressing security concerns about AI’s control over wallet keys.
In collaboration with Silence Labs, Biconomy’s DAN allows AI to optimize and authorize blockchain transactions while maintaining self-custody. The protocol uses Delegated Auth keys stored on EigenLayer’s AVS to secure on-chain tasks, enhancing the crypto space’s functionality.
Biconomy boasts over three billion in transaction volume, five million users, and 1.2 million smart accounts, showcasing its significant impact. The DAN stack promotes automated transaction handling, aligning with account abstraction trends, crucial for mass adoption.
This milestone underscores Biconomy’s role in advancing blockchain technology, offering a secure, scalable solution for integrating AI with crypto.
