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- 1 The combination of AI and blockchain holds could drive the future of tech.
- 2 Different ways in which AI and crypto could work together
AI and Blockchain are buzzwords in laboratories and the markets. They have taken the world by storm across different sectors. while they are being deemed as ground-breaking tech, they have limitations. While neither one can be considered perfect by itself, combining them together could possibly get them both close to perfection.
Impact of Blockchain and artificial intelligence
Blockchain technology is a distributed ledger technology where immutability is its greatest feature. Any assets or transactions on the blockchain could be tracked down without the help of a regulatory central authority. All of the information that is stored in the blockchain is kept in sequence-locked blocks.
These blocks are extended into a chain when people move those from their initial position to another location. Safety and security are some of the most important features of blockchain, and trust plays a huge role among users. It is almost impossible to alter the information stored in blockchain due to its strength to thwart malicious external attacks.
On the other hand, artificial intelligence is essentially the evolution of how a computer solves complex operations. The rapid growth of artificial intelligence may even pose challenges for the human mind because of its amazing decision-making and problem-solving potential. Specific algorithms are inputted into artificial intelligence to help complete tasks with impeccable quality.
Most businesses are interested in how artificial intelligence may be used to improve productivity. It is possible that combining blockchain and artificial intelligence could lead to a highly productive technology.
Combining Artificial Intelligence and Blockchain Technology
There are several ways in which artificial intelligence and blockchain technology can be brought together. Here are some unique differences that could be brought about by combining such technologies:
- Data transparency
Artificial intelligence requires huge amounts of data to execute its operations effectively. Without data, it cannot function as it should. Blockchain technology can trace back those nodes of the server from where data has been gathered to ensure it is transparent and verified.
- Data privacy
One of the prime reasons most businesses prefer blockchain technology is privacy. No one can alter or delete the data inputted on a blockchain. Having stricter privacy policies makes AI more efficient in completing complex tasks as it is constantly monitored and supervised.
- Data automation
The probability of error is higher in manual work, always. However, if blockchain and artificial intelligence are integrated, such operations would be automated, making the process cost-effective. And mishaps could be reduced significantly.
Conclusion
Since the launch of blockchain technology and artificial intelligence, there have been a lot of discussions regarding their capabilities and potential. However, both of their capacities and potential may be exponentially enhanced by combining them together.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
