GoPlausible, a team of developers that creates tools for people to build and use Algorand, has released AlgorandExplorer. This browser merges the capabilities of ChatGPT to facilitate interaction with the public proof-of-stake blockchain. Algorand is a smart contract platform similar to ethereum, which allows users to deploy decentralized applications (dapps).
in a medium mail On October 10, the team said that the plugin aims to solve the challenges faced by Algorand indexers and eventually simplify exploration of the smart contract platform. Typically, users rely on indexers through which they can search and query the blockchain. This is because indexers have to create a searchable database that contains all the data, such as transactions, blocks, and more.
In addition to providing an interface for users to explore Algorand, AlgorandExplorer supports “semantic conversational searches, enriching data with related records and transactions,” allowing chain searches to “reason with data” more effectively. The browser will integrate a language translation tool, meaning that users around the world will be able to explore Algorand using their native language.
Still, AlgorandExplorer is in development. Over time, in the next version, GoPlausible plans to include more improvements, including Algorand Request for Comments (ARC) and technical documentation.
Algorand is far from the only platform investing in ai; A few months ago, Solana announced the integration of a ChatGPT plugin focused on non-fungible tokens (nft). The plugin, the foundation said, makes it easier to purchase and list NFTs. At the same time, it can interpret data and find the minimum price of nft collections listed on the blockchain. The floor price is the lowest price at which an nft from a given collection can be sold.
ALGO sell-off continues: Will prices fall to new lows?
While the Algorand Foundation’s move could lead to more users exploring and analyzing transactions on the smart contract platform, there has been no significant impact on prices. ALGO’s liquidation was compounded by allegations made by the United States Securities and Exchange Commission (SEC) in June that ALGO and other coins, including Axie Infinity (AXS) and Cardano (ADA), are unregistered securities.
Currently, ALGO remains under pressure, consolidating within a narrow range defined by the sell-off recorded in August. Based on that formation, the coin is technically bearish and trending within the August 17 bearish bar, a bearish engulfing bar that saw high trading volume.
So far, looking at the trackers, the currency is below by more than 70% in the last year of operations. According to the daily chart, ALGO is also declining, erasing the gains recorded in the first week of October.
Technically, ALGO is approaching the all-time lows recorded in August, a net negative. the pPrimary supports remain at $0.08. If it breaks in Q4 2023, the odds of ALGO sinking even further, completely reversing 2021 gains, will be on the table.
Featured image from Canva, TradingView chart
