Some trends within the blockchain world are now widely considered “new” or “innovative”. This doesn’t mean they haven’t been tried before, but they are trying to take off now.
We’re talking about new consensus algorithms like DPoS, new cryptography methods like zero-knowledge proofs, new privacy-enabling technologies like ZK-snarks, and new scaling techniques like sharding.
They’re highly technical, complex, hard to understand concepts, and often difficult to implement. Machine learning and artificial intelligence (AI) can also take blockchain and cryptocurrencies into the future.
1. AI Revolutionizes Cybersecurity
The more complex our technology becomes, the more vulnerable it gets. Threats are getting more sophisticated, and as predicted, by 2020, we already have 20 billion connected devices available to be hacked. Cyber-criminals are glad because more devices mean more opportunities to steal information.
Luckily, AI can be a powerful weapon against cyber-crime, as machine learning algorithms can detect threats and respond accordingly. They can protect us from the latest threats out there.
2. AI Is The Future Of Smart Contracts
In a few months from now, everything will be smart and automated. This is why we’re bringing you these 3 simple facts: 1) cryptocurrencies are going to explode within the next years 2) machine learning algorithms allow a computer to learn how to do difficult tasks without explicit programming 3) it’s capable of processing large amounts of information.
Although smart contracts are increasingly becoming common, they’re still considered complex to implement and configure. That’s why AI may be the answer. With an intelligent contract platform, developers can create a variety of pre-programmed conditions that the self-autonomous smart contract will follow.
3. AI Is A New Standard For Efficient Computing
Do you know how sometimes you need to run multiple operations at once? You do them sequentially, one after another. But with the use of Artificial Intelligence, you don’t have to wait for a result from one operation to start another.
You can run them simultaneously— concurrently without waiting for the completion of another task. This saves time and energy while allowing you to focus on what’s important — getting the job done.
4. AI Outperforms Humans At Complex Decision-Making
Complex decisions require multiple pieces of information, which you then have to aggregate into one final answer. Humans aren’t excellent at this task — we’re too biased by our personal beliefs and experience to make an objective assessment. On the other hand, AI can look at all possible variables without bias efficiently and make the best possible decision.
5. AI Enhances Security And Privacy
Machine learning keeps us safe from cyber-attacks — but it’s not just about detection — AI algorithms can also respond to them. Because we know that private information should always be kept confidential, AI also ensures encryption of data and access only to authorized parties.
6. AI Is Essential For Future Blockchain Development
As we’ve seen before, blockchain technology is getting more complex with time — the new scaling solutions are just one example of this trend. If we want this technology to go anywhere, it has to evolve. And with AI on our side, we’re more likely to find those solutions faster. And who knows, maybe AI will itself prove to be a solution for many of the issues that blockchain faces today.
AI is the future of blockchain development; it makes cyber-security stronger and more efficiently supports advanced computation by allowing multiple tasks to be completed in parallel. Furthermore, it enhances privacy and is necessary for blockchain development.