Accelchain Secures Futures Grant for Polkadot dApp Development

Accelchain, a company specializing in generative AI DevOps and security within the cloud, has been awarded a Decentralized Futures Grant to enhance its platform for decentralized applications (dApps) in the Polkadot ecosystem.

This grant will facilitate the integration of Accelchain’s platform with Substrate, which is a framework utilized for developing dApps within Polkadot. This integration enables developers to create and deploy Substrate-based dApps without the need for coding, according to a statement from Accelchain.

Accelchain aims to grow its community by engaging developers and enterprise partners. The company has established partnerships with node providers, including Google Cloud, and is actively conducting developer recruitment programs at universities and decentralized autonomous organizations (DAOs).

Since launching its no-code platform in October 2023, Accelchain has attracted approximately 2,000 developers and projects that number to rise to 20,000 by the end of 2024. The platform employs Large Language Models (LLMs) to generate dApps tailored to user specifications, validate business logic, and ensure application security during runtime.

Additionally, Accelchain’s AI model is designed to detect and block malicious transactions in real-time, providing protection for Web3 applications against threats like front-running and sandwich attacks.

Founded by Krishna Srinivasan and Ram Shanmugam, Accelchain has outlined a roadmap emphasizing compatibility with Polkadot and the expansion of its developer community through workshops and hackathons. Srinivasan and Shanmugam are also known for co-founding AutonomIQ, a generative AI software testing platform that was acquired by Sauce Labs. The Accelchain team includes former employees from Google and ServiceNow.

The Web3 Foundation is backing the rollout of the Join-Accumulate Machine (JAM) upgrade within the Polkadot ecosystem with a prize pool of 10 million DOT, valued at around $65 million. This initiative aims to establish a decentralized network capable of performing various computational tasks throughout the ecosystem.

To qualify for participation, entrants must fulfill specific criteria, including the ability to import and produce blocks, meet performance standards on Kusama and Polkadot, and undergo security evaluations.