Blockchain and Artificial Intelligence are two of the newest technology trends in the present time. Even though these two technologies have highly dissimilar developing parties and applications, researchers and experts have been discussing and exploring their combination.
In simple words, a blockchain is a distributed, dispersed, immutable ledger that people use to store encrypted data. Artificial intelligence works like an engine or even the mind that allows analytics and decision-making from the information gathered. Each of these technologies has its level of complexity. However, both AI and blockchain are in a condition where they can benefit and aid one another.
The Blend Makes Sense
With both these technologies in a position to impact and enact upon data in varied ways, their blend makes sense. It can even take the exploitation of information to new levels. At the same time, the blend of machine learning and AI into that of blockchain, and the other way around, can augment the underlying architecture of blockchain and boost AI’s potential.
Also, blockchain can make AI better coherent and understandable. This way, you can trace and decide why decisions are made in machine learning. Blockchain and its ledger can record all information and variables that undergo a decision made under machine learning.
Furthermore, artificial intelligence can enhance the efficiency of blockchain far better than that of humans or even any standard computing can. A peep into how people run blockchains on standard computers verifies this with so much processing power required to carry out even the basic moves.
How Blockchain & AI Look Together
Blockchain and AI appear to be very contrasting to each other. These are full opposites in the way they work. Though AI is a much-centralized technology, blockchain, on the contrary, is a decentralized one. In the blockchain, people store the record in distinct blocks.
But these two technologies blend to form Decentralized Intelligence: a robust two-edged alliance providing you with efficiency and network security simultaneously. The AI promises high efficiency of the system with the power of its decision making, blockchain guarantees that the information transactions of the system are well handled, promising the best possible security.
Computing allows you to leap in the form of performance. In contrast, a blockchain gets you traceability, where you can easily track down the transactions without any danger of them getting manipulated.
Smart Computing Power
If you were to run a blockchain, with all its encoded data, on a computer, you might require a large sum of processing power. For example, the hashing algorithms that people use to mine Bitcoin blocks follow a brute force approach. It systematically counts all possible applicants for the solution; and checks if every candidate fulfills the problem’s statement before confirming a transaction.
AI affords you the chance to step away from this and deal with the tasks intelligently and efficiently. Just imagine a machine learning-based algorithm that might practically polish its skills right away if you feed it the correct training data.
The growth of AI is fully dependent on the input of data. With data, artificial intelligence gets information about the world and the things taking place in it. Fundamentally, data feed artificial intelligence, and through it, AI will be in a position to improve itself unceasingly.
On the other hand, blockchain is fundamentally a technology that permits the encrypted storage of data on a distributed ledger. It allows for the formation of completely secured databases that the parties who have been approved to do so can look into. When blending the blockchains with AI, you get a backup system for the sensitive and highly confidential personal data of individuals.
Apply the growth of artificial intelligence to big data, and compose with the security blockchain technology provides, it promises the ideal blend for the management of huge databases. The authorities can use QR generated for the security of data. These secure QR codes have a unique hash value that allows the data to reveal only if the QR hash value matches the hash value registered on the blockchain network.
For example, medical or financial data are too delicate to hand over to a single business and its algorithms. Storing this data on a blockchain that an AI can access, but only with permission and once it has undergone the proper procedures, might give you the enormous advantages of personalized recommendations. It, at the same time, safely stores your sensitive data.
The Bottom Line
Once you blend blockchain and AI, their complementary nature boosts the overall system. The blend makes the system lot more reliable and secure. It shows hope for a bright future that might alter the landscapes of diverse industries for good. To know more about how to encrypt a QR code and make the most of solutions of blockchain and AI together, talk to us at ProofEasy.