Blockchain & AI — A Powerful Pair

Blockchain and AI are groundbreaking technologies with two different applications. Still, with innovative and creative ideas, researchers are trying to integrate both the technologies to make Blockchain & AI-A power pair.

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Here in this article, we will look into the powerful pair of Blockchain and AI.

Combination Of Blockchain & AI

Blockchain is a technology that is based on a decentralized and distributed database that is used to store the encrypted data. On the other side, AI is Artificial Intelligence that is based on machine learning. Here it analyzes the data and provides the resolution based on the machine learning technology.

Both technologies have their own complexity and applications, but both Blockchain and AI can be benefited from each other.

Since both technologies are based on data and the technologies are applied in different aspects of the data. The power pair of Blockchain and AI will make insightful technology altogether. This will lead to the exploitation of data to the next higher level. With the benefits from each other, it will help to boost the architecture of blockchain and the potential of Artificial Intelligence.

When both the technologies are combined Blockchain makes AI more logical and understandable. You will be able to find why resolutions are made with machine learning. The decisions made under AI are stored in the ledger of the blockchain where it deals with machine learning data.

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In this way, AI helps to enhance the efficiency of blockchain technology. The computing of blockchain with AI is far better than standard computing. So we will look into the application of combined Blockchain and AI.

Future Applications of Blockchain and AI Pair

Optimized Computing Power

The encrypted data is used in the blockchain and it is operated with a large amount of processing power. For example, to mine, the Bitcoin block hash algorithm uses more power. Say a “brute force” approach which will mention all the candidates to verify the transaction before it resolves.

The machine learning-based AI technology can use the data more effectively in real-time. This helps to resolve the tasks more efficiently by optimizing the processing power to compute the data.

Developing a wide range of data set

As we all know that blockchain technology is decentralized, there will be no central authority to manage the blockchain. In the case of a public blockchain, anyone will have the power to access the blockchain. Since the latest blockchain technology powers the cryptocurrencies, various industries started implementing blockchain to manage their infrastructure.

"Read Public blockchain vs Private blockchain"

Various industries are focusing on blockchain technology to distribute a wide range of data using the algorithms of blockchain. It ensures the Artificial intelligence development, and it leads to decentralized AI technology in the future.

High Data Protection

AI is the imitation of human activities on the data by following certain rules and conditions. So it is fully dependent on data. AI receives the data as the input and analyzes the data as per the rules and resolves the specified task.

Whereas in blockchain the data stored in a secured database. This provides permission for certain authorities to verify or to alter any transaction and it is fully decentralized with its security features.

When we make the powerful pair of Blockchain and AI, we can maintain the confidential data in a secure database. When the big data is applied to AI, it analyzes the data with the given protocols to save the data securely in the blockchain. In this way, the combined technology can help to manage the large database.

There are certain industry sectors where the data is treated more sensitive and confidential and we all know that it always happens in the healthcare and financial industry. Storing the confidential or sensitive data in the blockchain, which is accessible to AI with the specified rules and protocols or certain specified permissions, provides high data protection. Data will not be hacked easily with combined AI and Blockchain technology.

"Read the blog on Blockchain revolution in healthcare"

Monetization of Data

The groundbreaking application of the combined blockchain and AI technology is the monetization of data. Data monetization provides a large revenue for the big giants like Google, Facebook.

Data monetization involves weaponizing our own data against us. Blockchain helps to securely store the data in the encrypted format using the cryptography technique. This blockchain will also allow us to monetize the data without compromising our personal data. It helps to prevent the biased algorithm in the blockchain and creates a wide range of data sets.

The same is applicable for AI that fully depends upon the data input. To learn the algorithm of AI, the network of AI needs to buy data from the data marketplace. This will open up space for startup companies without the exploitation of well-established companies.

Feeding data for AI in a startup will require a huge investment as they do not create their own data and they can buy the data from the decentralized marketplace to monetize the data more effectively.

Easy understanding of AI Decision Making with Blockchain

As we all know that AI technology imitates the real-time human activities, the researchers are satisfied only if they know the decision making of AI to know whether it’s reflecting the correct real-time activities.

To understand the AI algorithm is very difficult as it involves large data feed for its simulation and it involves large variables and text. However, to know the root cause of AI decision making, we will still analyze the large data.

With the help of blockchain, the process used to analyze the decision making of AI is stored. This stored data is immutable and difficult to alter in the blockchain. So it helps to audit those processes in the blockchain to analyze the decision making of AI.

The companies will opt AI only if it understands the decision making AI. With the help of blockchain technology, it becomes easy to understand the working of AI.

Cryptocurrency trading with the combination of Blockchain and AI

Right now cryptocurrencies are backed by powerful technology. In the future, the combination of AI and Blockchain will enhance cryptocurrency trading with high data protection. Similar to the top analyst the machine learning technology will analyze the crypto market for profitable crypto trading. AI will be able to process the data at a very fast pace, modifies the algorithm for better results. It can become a perfect tool for cryptocurrency trading.

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Conclusion

Finally, in this article, you will be able to view the innovation blockchain and AI as a powerful pair in building advanced technology. As AI depends on the data feed and the same is stored securely in the blockchain, the combination of this innovative technology will get benefited from each other.

The future will be able to cover all the data related issues with the advanced combination of blockchain and AI technology.