Coinbase Launches Tool to Simplify AI Agent Creation for Crypto Tasks

Coinbase engineer Lincoln Murr has released 'Based Agent,' a platform that enables users to construct completely autonomous AI agents in under three minutes, with the goal of making blockchain-powered AI agents more accessible to everyone. According to Murr's X post on October 26, Based Agent is a simple framework for creating AI agents capable of handling a variety of on-chain jobs including trading, staking, and even smart contract management.

AI Agents as Autonomous Bots

The idea behind AI agents is simple yet effective: bots are taught to execute certain jobs. Based Agent makes use of this feature by enabling users to create bespoke AI agents that are associated with their crypto wallets. “Our goal here is to make it as simple as possible to begin building your own AI agent,” Murr said in a video accompanying the article.

Based Agent is technically an on-chain agent framework that also acts as a user-friendly template, allowing AI agents to handle complicated smart contract operations. Among Based Agent's several modes, the autonomous version stands out, allowing users to develop agents that “go off and do whatever they want” using blockchain interactions, such as trading and staking assets.

Coinbase's Partnership with Leading Tech Giants

Based Agent was created using Coinbase's software development kit (SDK) and leans on cooperation with ChatGPT maker OpenAI and software platform Replit. To develop an AI agent, users need a Coinbase API key, an OpenAI key, and access to the Replit template. “It couldn't be easier to start adding whatever functionality you want to these agents,” Murr continued, emphasizing Based Agent's usability.

Previously, Coinbase CEO Brian Armstrong discussed the limits of AI agents in a supervised situation, emphasizing technical concerns. However, recent transactions between AI agents suggest a breakthrough in the potential of AI in crypto.

About Coinbase

Coinbase, a large cryptocurrency exchange, has long studied the interface of AI and blockchain. Its technologies, such as Based Agent, seek to increase access to AI in decentralized finance by providing users with configurable autonomous agents for smooth blockchain administration.