What are Intelligent Contracts?
Intelligent Contracts are AI-powered smart contracts that uses large language models (LLMs) to access real-time web data and understand natural language. Unlike traditional smart contracts, which execute predefined blockchain actions, intelligent contracts dynamically interact with external data and adapt to changing conditions, modifying their operations as new information becomes available.
Difference Between Smart Contracts and Intelligent Contracts
| Feature | Smart Contracts | Intelligent Contracts |
|---|---|---|
| Definition | Self-executing contracts with terms written into code | Advanced smart contracts powered by AI, capable of interacting with web data and process natural language |
| Capabilities | Executes predefined blockchain actions | Executes blockchain actions and can access web data, process natural language, and use AI |
| Language Understanding | Executes code-specific commands only | Capable of interpreting and acting on natural language |
| Web Data Access | Relies on external services (oracles) for web data | Direct access to web data without intermediaries |
| Data Handling | Limited to data within the blockchain | Directly fetches and utilizes web data |
| Programming Language | Typically uses niche languages like Solidity | Uses more familiar languages like Python |
| Ease of Development | Requires blockchain-specific knowledge | More accessible for a wider range of developers due to familiar languages and tools |
| Flexibility | Performs static operations based on predefined conditions | Adapts and responds dynamically to real-time data |
| Consensus Mechanism | Uses standard blockchain consensus methods | Uses "Optimistic Democracy" for more reliable outcomes |
| Use Cases | Generally limited to predefined scenarios like payments and apps | Supports dynamic applications like smart oracles, interactive games, and AI-driven decentralized applications |
This table highlights how Intelligent Contracts offer significant advantages over traditional smart contracts, enabling more complex, responsive, and secure blockchain applications.