Blockchain and Artificial Intelligence seem to be two different terms and domains. Artificial intelligence, in short, is the theory and practice of building machines that work on intelligence. Meanwhile, blockchain is a digital information storage system, stored in an encrypted and distributed ledger format. The AI research focuses on the creation of computer systems capable of carrying out activities that require human intelligence. Blockchain, on the other hand, has been developed to serve as distributed books that facilitate applications and transactions.
However, these two domains overlap. A combination of new ways of information and use of computer resources. Significant innovations in both areas are possible thanks to the fusion of these technologies. Here are some advantages of merging AI and Blockchain:
Blockchain simplifies the decisions made by IA
The decisions made by the IA can be difficult for humans to understand. This is because artificial intelligence is able to evaluate a large number of variables independently from one another. It is expected that IA will be used more and more in the decision-making process in financial transactions and will determine if such transactions are fraudulent and should be examined.
Human interference would be necessary to control decisions for a while, because the amount of data processed is huge and is a complex task. Blockchain can simplify the audit of the decisions with the certainty that the registrations are tamper-proof.
AI and cryptography work very well together
Blockchain represents security: the data contained in it are highly secure due to encryption in the storage system. This means that blockchain is ideal for storing highly sensitive personal data and for unlocking valuable information when processed intelligently. Even if data breaches are common, blockchain is safe because databases are kept in an encrypted state and only a private key must be kept secure.
AI can add to security. An emerging field in artificial intelligence is working to create algorithms that can work with data while it is still encrypted. Reducing incidents that expose unencrypted data could help make things much safer.
The efficient approach of AI to blockchain management
Computers are good at performing tasks, but they need explicit instructions on how to perform an activity. Computers need processing power because of their encrypted nature. A hashing algorithm used to extract Bitcoin uses a brute force approach that tests each character combination until it finds the one that fits to verify a transaction.
AI eliminates the brute force approach and manages activities smarter. Similar to a human being, he learns artificial intelligence and an automatic learning algorithm that will handle the situation in the same way. Instead of spending all his life learning these skills, AI would learn it instantly if the right training data is entered into the system.
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