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- Two renowned companies – EQTY labs and NVIDIA, join hands to unveil Verifiable Compute by leveraging the Hedera network for enhanced governance and compliance, immutable record keeping, and smart contract orchestration.
- An analyst has predicted that this development, coupled with the potential approval of the spot HBAR ETF application, could fuel a price surge to $1.
Hedera (HBAR) could be gearing up for an explosive run as EQTY Lab and NVIDIA collaborate to launch a Verifiable Compute to secure and audit Artificial Intelligence (AI) workflows. According to reports, this groundbreaking initiative would ensure that every AI computation is verified and supported by the Hedera network.
Reviewing the official press release, we discovered that the framework had been designed to take advantage of the Hedera Consensus Services by creating an immutable ledger of AI computation and using the transparency and trust of Web3 to set a new standard for the enterprise.
Commenting on this, the founder of EQTY Lab, Jonathan Dotan, disclosed that the scalability and security of Hedera distinguishes it from other blockchains thanks to the support of the council of global leaders.
Hedera’s enterprise-grade infrastructure, backed by a Council of global leaders like Dell Technologies, sets it apart from other blockchains by providing the scalability and security essential for bringing Verifiable Compute to market. We’re proud to use the Hedera Consensus Service to drive a more transparent and secure future for AI.
Provisions of Hedera
Delving into the role of Hedera in powering AI Trust, we observed that its integration would have several key benefits, including:
- Enhanced governance and compliance: Using Hedera’s decentralized infrastructure, Verifiable Compute can easily enforce regulatory compliance and business policies in one sovereign cloud. Fascinatingly, this could also be done in multiple jurisdictions to improve adaptability.
- Immutable record keeping: According to the report, there will be a tamper-proof history of all AI operations as each AI computation is logged on the Hedera network. This would also have a timestamp to indicate the start of operations for any known security breaches or vulnerabilities.
- Smart Contract Orchestration: Operating as a hardware binding for smart contracts, the Hedera network unlocks effective work operations across the various AI protocols.
Impact on the Price of HBAR
With the launch of Verifiable Compute in 2025, the adoption of enterprise AI and decentralized technologies across various industries is expected to transition to a different height. According to analysts, the price of HBAR could greatly react. Even before that, the asset is currently trading in a symmetrical triangle in a 4-hour chart, which indicates a potential rally. This was also confirmed by an analyst identified as AllINCRYPTO.
Wont be long before $HBAR starts moving again up towards the $1.00, continuation pattern present, giving us now a confluence of patterns taking us toward $1.00 (larger double bottom still in play) pic.twitter.com/1YJDPxeKVp— ALLINCRYPTO (@RealAllinCrypto) December 13, 2024
At press time, HBAR was trading at $0.2724 after declining by 7% in the last 24 hours. Meanwhile, its 30-day and 90-day price charts still show a positive gain of 80% and 412%, respectively. Currently, crucial support is found at $0.270, while resistance is positioned at $0.31.
According to analysts, a possible breach of this level could easily send the price to $0.37 and $0.61. From this point, the asset could target the $1 level. This predicted run to $1 is also expected to be fueled by the potential approval of the spot HBAR Exchange Traded Fund (ETF) application submitted by Canary Capital, as we reported earlier.
