See the Unseen: How BlockAgent Transforms Blockchain Transparency

Fetch.ai
Fetch.ai
Published in
5 min readFeb 23, 2024

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Imagine you’re playing a sport where every move is crucial. But there’s a catch — there is no way to see the scoreboard. It would be chaotic: for the players as well as the spectators. The ability to see what’s happening in real-time cannot be understated in sports. It is of utmost importance to the spectators, players and moreover — to the people who are monitoring and keeping track of the game.

Now, think of Web3 as a high-stakes sport. It is extremely important for the developers and investors alike to watch what’s happening on the chain. This is where blockchain observability and monitoring tools come in.

Observability in blockchain is like having a clear, unobstructed view of the scoreboard at all times. It means everyone involved can see what’s happening in real-time. So whether it’s a financial transaction, a contract being executed, or data being exchanged — observability tools ensure that actions are visible, traceable and most importantly, trustworthy.

There are several observability tools in the market, but most of them are either too complex, expensive, or rigid to meet the evolving needs of developers and investors alike.

Enter: BlockAgent.

A New Era of Blockchain Observability

BlockAgent is a tool in a developer’s toolkit and a weapon in a Web3 investor’s arsenal — packaged in a beautiful, easy-to-use interface. It is a leap forward in blockchain observability. BlockAgent provides 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.

BlockAgent uses Fetch.ai’s AI Agent technology for real-time blockchain monitoring. It has a sharp focus on user experience, offering a streamlined interface that simplifies the complexity of blockchain data.

The motivation behind BlockAgent’s development stems from a noticeable void in the blockchain space. Fetch.ai Labs — an R&D division in our organization noticed a few issues with the existing observability tools while working with them:

  1. All of them needed programming to set up alerts for smart contracts. Moreover, there was a lack of support for various types of contracts.
  2. There was no one-tool-fits-all for smart contract debugging. All tools were lacking insights into contract executions and state changes.
  3. A majority of the tools limited themselves to merely monitoring the on-chain activities rather than acting on them. For instance: allowing smart contracts to react to events on other chains, triggering them to update if new external data is available, etc.

Moreover, traditional monitoring solutions were either too complex, expensive, or rigid to meet the evolving needs of developers and investors alike. Fetch.ai Labs recognized the necessity for a more adaptable, cost-effective solution. BlockAgent was conceived to fill this gap, offering a platform that is not only highly customizable but also ensures high availability and reliability.

The Swiss Army Knife of Blockchain

BlockAgent has four important highlights:

  1. A 100% no-code mechanism to setup notifications and alerts for smart contracts with support for various types of contracts (ERC-20, 721, 1155, etc.)
  2. Deep insights into contract executions and state changes. Users don’t have to visit a Block explorer to check if execution is successful or failed.
  3. Event logs to record token transfers — which enable communication between different blockchains, allowing smart contracts to react to events on other chains.
  4. Oracles emit events when new external data is available, triggering smart contracts to update based on the latest information.

These highlights open up a variety of use-cases, for instance:

  • DEX: Facilitating efficient trading on decentralized exchanges by updating order books and user balances in real-time via event logs.
  • DAO: DAOs can leverage the platform for governance actions, such as proposal submissions, voting outcomes, and execution of decisions.
  • Identity Management: Track changes in user identity or access permissions within decentralized applications.
  • Regulatory Compliance: The platform can provide an authentic record for auditing purposes, ensuring compliance with regulatory requirements.

Powered by AI: Fetch.ai’s AI Agents at the Core

At the heart of BlockAgent’s innovation lies Fetch.ai’s AI Agent technology. It enables BlockAgent to offer real-time insights across multiple blockchains, adapting to the user’s specific needs without the overhead of traditional monitoring tools. AI Agents facilitate a more intelligent, responsive platform that can anticipate and react to the dynamic landscape of blockchain data, setting a new standard in the field.

Here’s how the agents work in three steps:

Step 1: Select

Users have the flexibility to subscribe to various types of blockchain transactions according to their specific needs, bypassing the requirement for any additional indexing service. This selection process enables users to tailor their monitoring activities, focusing on particular areas of interest such as NFTs, tokens, etc. BlockAgent supports a wide range of agent types and templates, including ERC20, ERC721, and ERC1155, allowing for a highly customized monitoring setup.

Step 2: Deploy

Once a use case template is selected, deploying it is as simple as a single click. BlockAgent’s advanced agent templating engine takes over, deploying an AI agent on Agentverse tailored to the user’s specifications for monitoring. This step highlights the ease with which users can start monitoring transactions through BlockAgent’s Common Indexing Service, emphasizing the platform’s user-centric design and functionality.

Step 3: Serve

The final step leverages BlockAgent’s advanced features to provide users with real-time transaction data. Users can specify intervals in seconds to subscribe to transactions, which are then served directly to their backend application via a webhook URL. This capability allows for immediate integration of transaction data into users’ systems, ensuring timely and relevant updates. BlockAgent’s filter parameters offer further customization, simplifying the monitoring process and ensuring that users receive precisely the data they need.

Expanding Horizons: Future Plans

BlockAgent’s journey is just beginning, with support for major blockchains like Ethereum and Polygon (on both mainnet and testnet) already integrated. The roadmap includes expanding this support to include other significant chains such as Solana, Avalanche and other non-EVM blockchains — illustrating Fetch.ai Labs’ commitment to broadening BlockAgent’s utility.

BlockAgent is still gearing up for its public release. Your responses to the tweet earlier in January were a testament to the blockchain community’s need for innovative solutions. Fetch.ai Labs is dedicated to not just meeting but exceeding these expectations by delivering a tool that is both powerful and user-friendly.

As BlockAgent moves closer to its general availability, its potential to empower developers and contribute to the growth of blockchain technology is immense. The future of blockchain observability is on the horizon, and it is bright with the promise of BlockAgent.

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Fetch.ai
Fetch.ai

Build, deploy and monetize AI apps and services.