Artificial intelligence continues to demonstrate its value within the blockchain ecosystem. Etherscan, a prominent Ethereum blockchain explorer, has introduced AI integration in its recently launched Code Reader beta version.
In a statement on June 19, Etherscan announced that the Code Reader would utilize the OpenAI API to fetch and interpret source codes of smart contracts.
The beta version of the code reader harnesses the power of AI to effortlessly understand and analyze various smart contract source codes, offering users a comprehensive learning experience.
Etherscan’s AI-powered Code Reader Aims To Simplify Blockchain Research and Development
Blockchain explorers are online search engines that enable users to view transactions and other information on blockchain networks.
Some well-known blockchain explorers include SolScan for the Solana blockchain, Etherscan for Ethereum, Blockchain.com for Bitcoin, and BlockScout for EVM-based blockchains.
In its announcement, Etherscan noted that its newly unveiled Code Reader could accelerate Smart contract research and development.
It gives users a comprehensive understanding of how to integrate selected smart contracts with decentralized applications (dApps)
Besides the advantages of this new integration, Etherscan also highlighted its limitations.
According to the blockchain explorer, the code reader only accepts OpenAI API Keys with sufficient usage limits. It warned that the answers may not be precisely accurate since they are AI-generated.
The blockchain explorer added a disclaimer, warning users to fact-check and verify the AI-generated responses and not to rely on them for evidence or bug bounties.
This aligns with the issues associated with AI chatbot hallucinations.
Hallucination relates to AI chatbots’ tendency to generate false information not backed by real-world data when responding to prompts.
Etherscan called for suggestions from users on possible adjustments or improvements.
“This is very much a Beta release—please let us know what you’d like us to add or improve,” Etherscan added.
Other AI-Powered Blockchain Analytical Tools versus Etherscan’s Code Reader
Etherscan isn’t the first blockchain-based platform to integrate AI tools.
On June 14, Alchemy, a leading blockchain developer, launched a ChatGPT-based tool dubbed AlchemyAI. AlchemyAI comprises a GPT-4 plugin for blockchain exploration.
Alchemy’s product manager, Elan Halpern, said in an interview that the firm’s objective in launching the plugin is to cater to and train a model using a web3 development-specific ChatGPT.
Also, on April 25, Solana Labs announced the launch of an open-source ChatGPT plugin. Solana Labs said the plugin would allow users to perform various tasks via the ChatGPT user interface.
The ChatGPT plugin offers users the convenience of checking wallet balances, transferring tokens, and purchasing NFTs on the Solana blockchain.
The introduction of this tool by Etherscan aims to streamline user navigation within the ecosystem. It is important to note that Etherscan’s AI-powered Code Reader operates in a distinct manner compared to ChatGPT plugins.
While ChatGPT plugins are integrated on the chatbot’s website, the Code Reader operates directly on the Etherscan platform using an OpenAI API Key.
It is worth mentioning that utilizing the Code Reader incurs an additional cost separate from a ChatGPT Plus subscription.
Other GPT-4 plugins utilized for blockchain analysis include Sic, DefiLlama, and CheckTheChain.
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