- Fetch.ai recently announced a partnership with Chainlink to form Blockagent
- Blockagent has automated real-time transaction data collection, serving it directly to backend applications via webhook URL
- Fetch.ai has aimed for BlockAgent to be a crucial asset for developers and Web3 investors
Fetch.ai recently announced a partnership with Chainlink on Blockagent, a tool designed to enhance blockchain activity monitoring and data integration. Developed to automate the collection of real-time transaction data, Blockagent serves this information directly to backend applications via a webhook URL, ensuring timely updates and seamless integration into users’ systems. Fetch hopes that the new protocol will prove to be a crucial asset for both developers and Web3 investors.
Swiss Army Knife of Blockchain
Blockagent aims to offer a real-time monitoring solution that is both intuitive and highly customizable, addressing the core needs of developers working with smart contracts across various blockchains and presenting a significant advancement in blockchain observability. Utilizing Fetch.ai’s AI Agent technology, Blockagent emphasizes user experience with a streamlined interface that simplifies the complexity of blockchain data.
Described as the “Swiss Army Knife of Blockchain,” Blockagent boasts several key features:
- No-Code Setup for Notifications and Alerts: Users can easily set up notifications and alerts for smart contracts, with support for ERC20, ERC721, and ERC1155 contract types.
- Deep Insights into Contract Executions and State Changes: Blockagent provides detailed insights without requiring users to visit a block explorer, indicating whether executions are successful or failed.
- Event Logs for Token Transfers: These logs facilitate communication between different blockchains, allowing smart contracts to react to events on other chains.
- Oracle-Triggered Events: Oracles emit events when new external data is available, prompting smart contracts to update based on the latest information.
Given the need to retrieve historical price data, Fetch.ai’s integration with Chainlink is no surprise, with users able to access detailed price data over specified time ranges for all supported asset.
Various Uses, From NFT to Trading
Blockagent promises to open up a variety of use cases across different sectors within the blockchain ecosystem. For NFT marketplaces, users can create and deploy agents that stream specific NFT contract transactions in real time, enabling databases to be updated and users to be notified about order fulfillment without the need to rely on third-party NFT APIs.
In the realm of copy trading, Blockagent’s agents can monitor specific smart contracts and execute trades based on predefined conditions, allowing users to mirror the trading strategies of successful traders. Portfolio trackers can use Blockagent to facilitate the monitoring of trades on liquidity pools and decentralized exchanges. Agents provide real-time trade details, which helps users to monitor token prices and develop strategic actions based on the latest data.
Blockagent Awaits Public Release
Beyond these applications, Blockagent hopes to enhance decentralized exchange trading efficiency by updating order books and user balances in real-time while decentralized autonomous organizations (DAOs) are also supported by aiding in governance actions such as proposal submissions, voting outcomes, and the execution of decisions.
Fetch.ai says that Blockagent is still gearing up for its public release, ensuring that it releases a tool that is “both powerful and user-friendly” and not rushing it out due to demand.
