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dayone

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Aug 22, 2018 4 months ago

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Blockchain Evolution

Blockchain Evolution

It is obvious that AI and blockchain are two of the major technologies that are increasing the pace of innovation. Each technology has its own degree of technical complexity as well as business implications but the joint use of the two may be able to redesign the entire technological (and human) concept from the bottom up.

Just for our education, A blockchain is a secure distributed unalterable database shared by all parties in a distributed network where transaction data can be recorded (either on-chain for basic information or O-chain in case of extra attachments) and easily audited.

The data are stored in rigid structures called blocks, which are connected to each other in a chain through a hash (each block also includes a timestamp and a link to the previous block via its hash). The blocks have a header, which includes metadata, and a content, which includes the real transaction data. Since every block is connected to the previous one, as the number of participants and blocks grow, it is extremely hard to modify any information without having the network consensus.

According to industry experts, blockchain and merger of AI into mainstream products and services can create plenty of opportunities for enterprises. The convergence of AI and blockchain can create a foolproof and reliable technology-enabled decision- making systems. Besides building tamper-proof systems, blockchain can play a crucial role in the regulation of machine learning and AI technologies. The essential application of blockchain is seen in a distributed system where the nodes are not foolproof while AI works by finding out patterns and predicting eventual outcomes. One of the best use cases of AI and blockchain merger is distributing the data a blockchain needs to contain. Blockchain can also provide a mechanism for the regulation of autonomous AI entities. The cryptocurrency news portal further emphasizes a future where standards are denied around what AI has to write to the Blockchain.

AI also facilitates smart contract testing. For example, AI marketplace SingularityNET, a decentralized protocol for accessing a network of AI algorithms and agents is an open-source protocol. According to the SingularityNET team, the blockchain technology works well for its transactional and bookkeeping advantages. The SingularityNET platform enables AI developers and programmers to add an AI service for use by the network and receive network payment tokens in exchange.

Blockchain can also help tackle AI’s black box problem by giving a clear audit trail and improving the trustworthiness of the data. Another key point is that blockchain can also help fuel the creation of secure data marketplaces. Given how blockchain technologies can secure the data, it would help lower the entry for data storage and allow for the emergence of AI marketplaces and model marketplaces. It can also provide a route that traces back the machine decision process. It can also help improve the AI effectiveness by providing a secure means for sharing data.

There is also a use case where blockchain can benet from AI. The Bitcoin blockchain system uses elliptic curves based on private and public key generation. But there hasn’t been any development of a public-key algorithm which is tamper-proof. According to the researchers, intelligent search algorithms can be used to search the bits of a secret key.

According to an AI expert, the future of AI development lies on a network that allows free ow of information between connected users and operators. The decentralized nature of Blockchain technology means that this could be the platform where we see the most breakthroughs on AI. @Day1 Technologies We’ve been working on classified projects around Blockchain, AI, ICO’s & Building Smart contracts. For more information, please reach me 1:1 or visit www.day1tech.com for more information.

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dayone

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