How artificial intelligence can enhance the blockchain platform

Both artificial intelligence and blockchain are touted as the technologies that will lead our future. But the problem is: they are like oil and water. Although it is innovative in itself, it is obviously lacking in interconnection-a project that closely combines artificial intelligence and blockchain, unleashing the full potential of these two emerging technologies.

This is mainly due to technical obstacles. It is almost impossible to integrate artificial intelligence into the smart contracts that exist today. The two usually rely on completely different programming paradigms-although smart contracts use data carefully to reduce transaction costs, many artificial intelligence models process large amounts of data and large amounts of computing resources to make decisions.

Smart contracts are also very strict, which means that only a series of strict parameters can be met to achieve results. Therefore, they may not be suitable for the AI ​​world, and it is difficult to achieve 100% accuracy in the AI ​​world, especially in image and audio recognition. This need for flexibility has spawned a need for a new generation of smart contracts that can handle highly accurate (albeit imperfect) input and receive perfect output.

As the EU Blockchain Forum pointed out in a recent report, combining these two technologies is not only desirable…it is also necessary. The author wrote: “In the real world, especially in large-scale use cases, blockchain, artificial intelligence, and the Internet of Things are likely to work together. In a smart city, the blockchain can interact with the Internet of Things and the Internet of Things at the infrastructure level. Artificial intelligence is combined to manage the key systems that cities rely on and improve the quality of life of residents through safer and better-designed urban environments.”

Example

But what does it mean to combine blockchain and artificial intelligence in practice? What tangible applications must end users expect?

The projects involved in this field believe that decentralized applications have the opportunity to become more advanced than they are now. Trading strategies can be provided by artificial intelligence-smart contracts can become more flexible. Blockchain platforms have the opportunity to provide a more convenient alternative to private keys-private keys are usually difficult to remember and store safely-and users can obtain balances through facial recognition.

Artificial intelligence and blockchain can also be used together in many other fields, such as big data and the Internet of Things, insurance, manufacturing, healthcare, logistics, and so on. In all cases, artificial intelligence plays an important role in processing data or automating human tasks to enter information into the blockchain.

Experts believe that artificial intelligence can be as effective as people on many tasks-and better yet, they can run 24/7 without feeling tired or susceptible to human error. Likewise, blockchains are increasingly deployed to provide consumers with transparent transactions and data. As long as blockchain developers have a way to implement artificial intelligence into their platform, the possibilities are endless.

Oraichain’s artificial intelligence and blockchain ecosystem

Ole Chain It is one of the companies working together to introduce artificial intelligence to the blockchain-unlocking compelling use cases in the process.

The data oracle platform stated that it enhances smart contracts by enabling smart contracts to securely access artificial intelligence through APIs—unlocking reliable data in the process. With the launch of the Oraichain mainnet, more than 100 APIs have been opened to the public in February.

A developer platform called Oulai Chain Studio Helping to integrate these APIs into smart contracts was launched in April 2021-verifying the correctness of AI output, and then distributing the generated data across multiple blockchains without the need for centralized control. Over time, this can expand access to well-trained artificial intelligence models, allowing more people to benefit from what this technology has to offer.

Oraichain has created a market where experts can sell their services-from artificial intelligence-enhanced yield agriculture to price prediction and facial authentication tools. In addition to enabling experts to monetize their work, executives also believe that this enables smaller companies to enjoy a more level playing field with industry giants that dominate the field.

The company is about to launch a new system, Right wingIt is described as the world’s first integrated NFT creation and copyright management platform, which provides a complete set of services for the irreplaceable token market-including the use of AI to generate NFTs and protect the copyright on the chain. The AI ​​service also allows users to easily verify the uniqueness and authenticity of the NFT.

The company was founded by Dr. Chung Dao, who has a PhD in computer science and teaches at Hanoi University of Science and Technology. In the past six months, Oraichain has announced that it has established a number of strategic partnerships with Rikkeisoft, KardiaChain, VAIOT and OCEAN Protocol.

Rikkeisoft, an IT company headquartered in Vietnam with more than 1,000 employees, will provide Oraichain with the necessary human resources to enhance some of Oraichain’s flagship projects-including DeFi-focused services yAI Finance, And its artificial intelligence market, Right wing,there are more.

Phan The Dung, CEO and co-founder of Rikkeisoft said at the time: “At Rikkei, we have been tracking the development of Oraichain from the beginning. We found it unique because it combines the undeveloped technologies of artificial intelligence and blockchain technology. potential.”

Overall, it is hoped that these partnerships will become a stepping stone to expand business scale and help Oraichain gain greater influence in the United States and Japan with its artificial intelligence and blockchain technology.