Year in Review: Top Web3, Blockchain, AI News of 2024

2024 was a year to remember for the worlds of AI and blockchain. PCs and mobile devices started to directly integrate AI and they’ll continue to do so throughout 2025. As for blockchain projects, they were huge beneficiaries of the cryptocurrency market’s recovery, being able to develop quicker due to increased liquidity and interest.

Come walk down memory lane as we recap the top 10 events of 2024 for AI and blockchains.

1. Bitcoin Shatters the $100,000 Ceiling

On 5 December 2024, Bitcoin (BTC) reached the unprecedented $100,000 price point after a rally spurred on by the US election’s results and an interest rate cut from the Federal Reserve. Less than two weeks later, BTC would surpass $108,000 before retreating slightly for several days.

2. Spot Bitcoin and Ether ETFs Launch in the US

US-listed spot ETFs of the two largest cryptocurrencies by market cap started trading in January (BTC) and July (ETH). However, spot cryptocurrency ETFs took a long and winding road before finally seeing the light of day. Case in point: the first application was filed all the way back in 2013 by Gemini co-founders Cameron and Tyler Winklevoss.

3. AI Agents Become the New Hotness

As AI continued developing in 2024, several companies created autonomous systems called AI agents. These systems make decisions and carry out complex tasks based on their control centre’s data, user instructions, and sensors to gather information from their surroundings. An example would be Coinbase’s first AI-to-AI cryptocurrency transaction.

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aelf is a layer 1 blockchain integrating AI throughout its ecosystem. This integration optimises network performance while improving the overall experience for individual users and software developers.

Recently, it launched aevatar Intelligence, a codeless, cross-chain AI agent framework that gives users free reign to customise and personalise their own agents across a myriad of functions. aevatar is powered by leading large language models (LLM) in the industry, such as OpenAI's ChatGPT, Google's Gemini, and Claude.

Preview and review the all-new aevatar Intelligence and stay tuned to how it introduces an all-new paradigm to the on-chain AI agent domain.

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4. Ripple Makes Moves While Shaking Off Legal Woes

XRP, the native token of Ripple-created XRP Ledger, skyrocketed from ~US$0.55 to as high as US$2.84 after the US presidential elections in November. Furthermore, Ripple launched its own USD-pegged stablecoin, dubbed RLUSD. During this time, a motion to expedite the SEC v. Ripple case’s final judgement was approved.

5. TON Dominates the Web3 Mini App Space

The Telegram instant messaging platform started supporting Mini Apps in 2023. However, the influx of projects creating mini apps only surged once Telegram enabled the integration of the fast and scalable TON blockchain for these applications. Thus, Web3 Mini Apps were born, with many global companies launching one this year.

6. AI-Powered Blockchains Rise Up

Because of how powerful the AI and blockchain technologies are, it only made sense developers would create networks powered by AI. The Artificial Superintelligence Alliance took it one step further, being a collaboration of the Fetch.ai, SingularityNet, and Ocean Protocol projects.

7. A Mixed Bag for Crypto Hacks

After cryptocurrency hacks declined from 2018 to 2020, the number of hacks and value stolen were causes of concern from 2021 to 2024. There were 21 more cryptocurrency hacks from 2023 to 2024, and the total value siphoned grew by $400 million in the same time frame. This underscores how important security is for Web3 users.

8. The Attempted Unveiling of Satoshi Nakamoto

On 8 October 2024, HBO released a documentary titled 'Money Electric: The Bitcoin Mystery'. Filmmaker Cullen Hoback concluded that Bitcoin’s creator, Satoshi Nakamoto, was the pseudonym of Canadian software developer Peter Todd. However, Todd has publicly denied Hoback’s assertion, calling it “ludicrous” on camera.

9. Institutional Acceptance of Web3 Grows

Although Microsoft’s shareholders voted against the tech company’s proposal to invest in Bitcoin, this could spark a larger wave of cryptocurrency adoption. Elon Musk-owned Tesla, Inc. – an S&P 100 company – already owns close to 10,000 BTC. Additionally, Visa launched a platform for businesses that want to issue fiat-backed tokens on blockchains.

10. Solana Prepares to Overthrow Ethereum

The Solana blockchain saw exponential growth in 2024. Its revenue soared 15 times across 11 months and its developer base grew just as fast, recording an 83% year-on-year increase. This positioned Solana as the number 1 ecosystem for new developers. With that said, Ethereum is still the overall top blockchain when analysing monthly active developer figures.

In Closing

After a dismal 2022 and stable 2023, this year would go down in history as the one where AI and blockchain put out one highlight after another. There might only be 10 highlights on AI and blockchain on this list, but 2024 gave everyone plenty more reasons to cheer. This tees up 2025 nicely, and we can’t wait to see what’s in store for everyone next year.

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*Disclaimer: The information provided on this blog does not constitute investment advice, financial advice, trading advice, or any other form of professional advice. aelf makes no guarantees or warranties about the accuracy, completeness, or timeliness of the information on this blog. You should not make any investment decisions based solely on the information provided on this blog. You should always consult with a qualified financial or legal advisor before making any investment decisions.

About aelf

aelf, an AI-enhanced Layer 1 blockchain network, leverages the robust C# programming language for efficiency and scalability across its sophisticated multi-layered architecture. Founded in 2017 with its global hub in Singapore, aelf is a pioneer in the industry, leading Asia in evolving blockchain with state-of-the-art AI integration to ensure an efficient, low-cost, and highly secure platform that is both developer and end-user friendly. Aligned with its progressive vision, aelf is committed to fostering innovation within its ecosystem and advancing Web3 and AI technology adoption.

For more information about aelf, please refer to our Whitepaper V2.0.

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Tool/Platform	What's it about
ChainGPT	An AI-powered assistant for the blockchain and crypto industry, specializing in content creation, language translation, smart contract coding, and more.
aelf	A high-performance, customisable multi-chain blockchain framework with AI-powered smart contracts and a developer-friendly environment.
Quick Intel	An AI-powered crypto security platform that helps investors avoid scams, rug pulls, and honeypots by analysing smart contracts, social sentiment, and on-chain data.
Cogwise AI News Aggregator	An AI-powered news aggregator that analyses real-time news and global trends to predict market movements in the crypto market.
OpenAI Codex	An AI system that transforms natural language into code, automating code creation for smart contracts, blockchain applications, and other development tasks.
QnA3	An AI-powered Web3 knowledge hub that provides real-time information and insights on cryptocurrencies, blockchain projects, and the broader Web3 ecosystem, with unique Solana Actions integrations.
Fetch.ai	A platform that combines AI and blockchain to create autonomous economic agents (AEAs) for various applications, including supply chain optimisation and smart city management.
Octavia	A decentralised digital identity (DID) platform for creating and managing self-sovereign digital identities, empowering users to control their data and online presence.
TensorFlow	A versatile open-source machine learning framework used for building AI models that can analyse blockchain data, enhance security, and predict market trends.
Alethea	A platform that creates 'Intelligent NFTs' (iNFTs) with unique personalities and the ability to engage in conversations, powered by AI and blockchain technology.

Chain	URL	Explorer
AELF	https://aelf-test-node.aelf.io/	https://explorer-test.aelf.io/
tDVW	https://tdvw-test-node.aelf.io/	https://explorer-test-side02.aelf.io/

Feature	Description
Inheritance	ERC-404 inherits from the interfaces IERC-404, IERC721 Receiver, and IERC165, implementing functions specified in these interfaces, behaving as both ERC20 and ERC721.
Data Structures	Mappings track balances, allowances, approvals, and ownership of tokens. Double-ended queue stores ERC721 token IDs. Data for managing ownership and indices of ERC721 tokens.
Constructor	Initialises token name, symbol, decimals, and other necessary variables for ERC20 and ERC721 tokens.
Token Minting and Burning	_mintERC20 function for minting ERC20 tokens. _retrieveOrMintERC721 function for minting ERC721 tokens and retrieving from a bank. _withdrawAndStoreERC721 function for depositing ERC721 tokens into the bank.
Transfers	Functions for transferring ERC20 and ERC271 tokens between addresses. Distinguishes between token types based on ID. _transferERC20WithERC721 function handles transfers involving both types.
ERC20 and ERC721 Interactions	Approve function handles approvals for both token types. Functions like transferFrom, safeTransferFrom, and permit handle transfers and approvals.
EIP-2612 Support	Supports EIP-2612 permit functionality for ERC20 tokens.
Interface Compatibility	Implements necessary functions for ERC-404 and ERC165 interfaces, indicating compatibility with ERC20 and ERC721 standards.

Role	Max Number
BP	2N+1, N starts from 8 in 2022
Candidate node	5*(2N+1)
Voter	No limit

Benefits	Description
Makes smart contracts 'smarter'	AI-driven smart contracts can autonomously modify terms based on predefined conditions and real-time data input, ensuring that the contracts are not just automated but also intelligent and self-improving over time.
Levelled up data analysis	Data is the new oil, and AI is the machinery that refines it. It is possible for AI to reduce large-volume blockchain data analysis time by up to 90%.
Boosts security	Through machine learning models, AI can prevent frauds and detect security threats in real time. It can identify potential breaches, predict future threats, and adapt to evolving security measures.
Lowers carbon footprint	AI algorithms help optimise energy consumption in blockchain operations, given the flak drawn by activities like Bitcoin mining.

Year in Review: All the Top AI and Blockchain News That Shook 2024