Understanding the power of Blockchain infused with artificial intelligence

Blockchain and AI are undoubtedly the most interesting properties of the technology industry today.

The Blockchain market is expected to expand from a value of $ 210 million in 2016 to over $ 2.3 billion by 2021, according to Statista while Adobe has found that the share of jobs requiring AI has increased by 450% since 2013.

  market value of the blockchain

The intuitive qualities of artificial intelligence and cryptographic security of Blockchain have led to both forces irresistible for the future, but how they can benefit from it

Understanding of Blockchain and AI

In the last year, Google search requests for "Blockchain" have increased by 250% highlighting the rise of technology to the fore in recent times. However, around March 2018 it felt dramatically.

  Interest over time

Basically a Blockchain is a chain of information that can be added to, but never rewritten. This means that you can create appendices of new details, forming new blocks, but the cryptographically secure content will not change under any circumstances.

To add further security to blockchains, they are guided by consensus. A large number of computers are added to the network and any user attempting to add to the chain must solve a mathematical test, the results of which are shared with the network and all other computers and connected machines must agree on the solution before allowing any changes to be made place.

This makes Blockchain a unique and safe way to conduct online business, with impenetrable property registers that are trustworthy. Fundamentally, blockchain is the first technology that allows the transfer of digitized property in a decentralized manner, without the need for excess documents and the approval of a centralized construct such as the New York Stock Exchange .

While Blockchain is an exciting and fresh technology on the scene, AI has existed in certain forms for decades. However, it is only recently that the potential of artificial intelligence is finally realized.

AI replicates human intelligence to make intuitive decisions quickly and efficiently. While making excellent automated production processes and customer-facing troubleshooting scenarios, AI is also excellent at driving machine learning – which helps computers perform actions without any specific programming.

Through machine learning, AI is able to automate predictive analytics, enabling computers to draw on large data sets to arrive at accurate, informed decisions.

  laptop with encrypted text

(Image: © Image Credit: Markus Spiske / Unsplash)

Meticulous Encryption With AI

Blockchain is incredibly safe, but some of its additional levels and applications (The DAO, Mt Gox, Bitfinex, as average notes ). Thank god.

The beauty of machine learning is that it has made great strides in the last years in terms of complexity and allows the AI ​​to provide secure applications – to help ensure that all Blockchain components are safe and secure .

AI is also rapidly becoming capable of building big data algorithms while it is still in an encrypted state. With the ability to manage information in a way that does not require it to be unencrypted, you can ensure your data will always be safe.

Smarter Blockchain Management

Managing blockchain on traditional computers requires a lot of processing power to complete tasks, due to their encrypted nature and the resulting lack of explicit instructions on how to get them.

But with AI adaptability, the "brute force" approach of the Blockchain management is replaced by a more refined style that the smarter machines are able to exert.

This is particularly useful for the execution of a machine-oriented mining algorithm. While in ancient times, this would be an incredibly arduous process, machine learning is able to instantly adapt to the task and generate results.

The wealth of calculations that artificial intelligence is able to bring to the management of Blockchain is another aspect that requires attention. Humans are fallible and slow in their calculations, making the role of artificial intelligence much more enticing in managing Blockchain technology.

The benefits of blockchain can lead to AI

The advantages of Blockchain and AI synergy are not even a one-way street, and there are many improvements that Blockchain technology can bring to artificial intelligence.

In particular, Blockchain greatly increases the reliability of IA. This means that it is easier for artificial intelligence to explain its mental processes through a clear and impenetrable information chain shown by Blockchain.

The wealth of data that blockchains are able to possess can also help make IA programs much more effective, due to the depth of information with which it is able to work.

Blockchain also has excellent potential to reduce the risks associated with managing sensitive data from AI. One of the brightest prospects that artificial intelligence is helping to develop is the Smart Contract: a means of entering into secure online agreements, whether it be for work, online purchases or even housing. For example, there are already a number of companies that allow investors to take ownership of real estate using Blockchain. Will Andrich CEO of one of these companies, says that the use of Blockchain is the way of "transforming and democratizing real estate investments", which guarantees secure and boundless transactions.

While AI will be the driving force behind Smart Contracts, Blockchain is the tool that can ensure that its contents remain secure.

  • My name is Dmytro and I am CEO of Solvid and founder of Pridicto, a web analytics startup that uses AI and Machine Learning to predict web traffic, monitor vital metrics and set visual traffic targets . [19659032] Source link