- SingularityNET, Fetch.ai, and Ocean Protocol demonstrate AI’s impact on blockchain functionality.
- Vitalik Buterin advocates AI for Ethereum security, citing bug detection and code verification enhancement.
- AGIX, FET, and OCEAN reflect recent bullish rallies, highlighting market interest in AI-blockchain integration.
The co-founder of Ethereum, Vitalik Buterin, has openly stated his excitement concerning the AI technologies that can be used in the Ethereum system. This is in light of a growing discussion about the convergence of these two revolutionary technologies, with Buterin, in particular, noting the ability of AI to contribute to code verification procedures and bug detection, which he identifies as a key technical problem for Ethereum.
Role of AI in Ethereum Security Enhancement
Ethereum’s Vitalik Buterin is especially interested in the possibilities of AI-assisted formal verification of code and bug detection. This space, he points out, is fertile ground for innovation as a result of the current weaknesses that are associated with code bugs.
Such bugs put the integrity and security of the Ethereum network at great risk, and therefore, the need for more efficient and effective solutions is high. Buterin’s proposal of AI interventions offers a possibility that would enhance the dependability of smart contracts and, hence the entire Ethereum blockchain.
Challenges and Opportunities in Code Verification
The talk about the incorporation of AI into the Ethereum framework also has some technical challenges. Critics, like Wolfgang Grieskamp from Aptos Labs, argue that it is the intrinsic complexity of the Ethereum Virtual Machine (EVM) that makes verification difficult.
Grieskamp emphasizes the challenges in dealing with the indirect branching of EVM, a characteristic that creates problems in the verification of control flow. Nevertheless, the story of AI aiding in more secure and robust blockchain ecosystems still sounds very attractive.
The operations of platforms, including SingularityNET, Fetch.ai, and Ocean Protocol, also add to the discussion of the intersection of AI and blockchain. These platforms are leaders when it comes to AI in improving the functionality of the blockchain, such as the creation and monetization of AI services, automation of business processes, and supporting the safe exchange of data. The benefits of AI incorporation are demonstrated in their achievements, offering a tiny window to a world where blockchain and AI collaborations promote innovation.
SingularityNET: An AI Service Market
SingularityNET is a key player in this domain, offering a platform that is based on blockchain technology, which helps in the development, sharing, and monetization of AI services. Its internal market allows users to buy various AI functionalities using AGIX, which is the native cryptocurrency.
This model not only democratizes AI technologies but also shows real-life examples of AI and blockchain integration opportunities for a more interconnected and efficient digital ecosystem.
AGIX/USD 24-hour price chart (source: CoinStats)
Concurrently, in the last 24 hours, AGIX’s bullish momentum has had the upper hand after support at $0.4469 was established. As a result, bulls pushed the price to an intra-day high of $0.5674 at press time, a 24% from the support level.
Fetch.ai: Automating Business Processes
Likewise, Fetch.ai takes advantage of AI and machine learning to make processes run smoothly, especially when it comes to data processing and trading. Using FET, its native cryptocurrency, Fetch.ai rewards engagement in its network, demonstrating the AI’s mastery of automating and optimizing complex processes within and outside the blockchain world.
FET/USD 24-hour price chart (source: CoinStats)
FET has also had a notable bull rally in the past 24 hours, with the price soaring from an intra-day low of $0.8019 to a high of $0.9188 before facing resistance.
Ocean Protocol: Safe Data Monetization
Ocean Protocol has a different perspective as it is concentrated on safe data exchange and monetization. Running on the Ethereum blockchain, it enables persons and companies to exchange and earn money from data, preserving privacy and control.
This measure points out the crucial role AI plays in improving data security and accessibility, further closing the gap between blockchain technology and AI progress. Concurrently, Ocean Protocol’s native cryptocurrency, OCEAN, has enjoyed a bullish rally, soaring over 20% in the last 24 hours, with its price at $0.7926 at press time.
OCEAN/USD 24-hour price chart (source: CoinStats)
During the rally, the price bounced between an intra-day high and low of $0.6473 and $ 0.8001, respectively.
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