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Etherscan Integrating ChatGPT for Analyzing Source Code

On Monday, the popular analytic platform Etherscan revealed plans to integrate OpenAI chatbot ChatGPT into its analyzing tools centered on the Ethereum platform. The Etherscan report stated that the firm plans to launch an innovative Code Reader.

Currently, the Etherscan technical team is yet to complete the beta phase for the Code Reader. At the initial development of the proposed Code Reader, the developers integrated the ChatGPT application programming interface (API) prototype on the new platform.

Etherscan Intergrates ChatGPT

A Code Reader is an advanced tool that utilizes artificial intelligence (AI) to generate source codes that the user can easily interpret. The team behind Etherscan’s latest development integrated recovery tools crucial in retrieving information.

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Over the years, Etherscan has gained popularity due to its block explorer technology enabling users to view data stored on the blockchain network. Following the entrance of Etherscan in the block exploring sector, also called blockchain explorer, other companies have implemented emerging technologies to gain a competitive advantage. Recently Solana network launched its Solscan to compete with Blockchain.com and Etherscan.

Presently, Etherscan is set to enter a crowded market after launching Code Reader. A few days ago, the race to gain market dominance inspired Alchemy to launch AlchemyAI, which leverages ChatGPT technologies. Notably, the AlchemyAI tool utilizes GPT-4 to support the blockchain explorer.

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Last month the Ethereum closest rival Solana debuted its proprietary ChatGPT plugin to outshine other players. 

Benefits of Etherscan’s Code Reader

In a Twitter statement, the Etherscan team outlines the main features of the new code reader. The proposed Code Reader will operate on the Etherscan platform and utilize the OpenAI APIs. The Code Reader ChatGPT differs from the ChatGPT plugins centered on the chatbot’s official website.

Referring to the tweet, the Etherscan team has urged the community to provide valuable input on the areas that require improvement. The tweet mentioned that the Code Reader is an informational device.

Despite the merits of the new tool, the Etherscan team pointed out the disadvantage of the ChatGPT. Apparently, the users are advised not to rely on all the information ChatGPT provides.

The public is urged to verify the authenticity of the data provided by the device. According to the tech firm, ChatGPT sometimes provides inaccurate data on bug bounties.

Surprisingly, some early AI adopters lamented that the technology provided falsified information when issued commands. The affected users argued that the AI technology suffers from hallucinations, a condition whereby the subject matter provides misleading information.

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If AI hallucination occurs, the user will be fed fake news and information concerning people and real-world events. It was reported that the drawbacks of AI hallucination compelled the firm to invest in extensive training in AI tools in May.

Editorial credit: Sharaf Maksumov / Shutterstock.com


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Kimberly Crain

Kimberly Crain is a seasoned crypto trader and writer, offering valuable insights into the digital asset market. With expertise in trading strategies and a passion for blockchain technology, her concise and informative articles empower readers to navigate the evolving world of cryptocurrencies.

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