Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
AI on Blockchain — What’s the catch?
Smart Contracts may be one of the biggest drive behind the enthusiasm for blockchain. The idea is to digitally facilitate, verify, and enforce the negotiation and execution of a contract, which is carried out simultaneously in a distributed fashion on multiple nodes in a blockchain. However, the current smart contract protocol is far from perfect, suffering from both limited computing capacity and flawed governance.
The simplicity of the smart contract may not seem to be a big issue right now but its limitations may pose a threat to applications on blockchain. Without enhancing the capability of the smart contract it is hard to implement real-world decentralized applications on the blockchain.
Whilst there are various approaches to solving the problem, enabling AI on the blockchain and integrating AI to be nested within the smart contract offers us a powerful solution.
Cortex (CTXC), the company I work for, is a decentralized Artificial Intelligence Platform that supports AI smart contract and AI execution. AI developers can upload their models to the blockchain, Smart Contract and DApp developers can then access these AI models by paying CTXC, the Cortex native token.
Cortex is the first public chain that enables adding AI models to the smart contact and executing of AI algorithms on the blockchain.
Cortex has released its mining TestNet, Bernard, and AI TestNet, Dolores.
Cortex Block Explorer — Cerebro
What Is Cortex solving?
AI monopoly
To date, Artificial Intelligence has become ubiquitous and our reliance on Artificial Intelligence increases day by day. For examples, Amazon’s recommendation system that offers users personalized recommendations based on previous purchases or activity; Uber’s AI model to determine arrival times, pick-up locations, and fare price; and PayPal that uses machine learning algorithms to detect and combat fraud.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.