Cryptocurrency’s impact and influence over the global market are reflected by its staggering market price and demand growth and the sheer public support since its introduction.
Among the number of industries that have been revolutionized in influence under the implementation of Cryptocurrency in their market area, the AI industry is the one in which Cryptocurrency has specific backgrounds; both the industries work on digitalization of commodities make daily tasks easier.
It is a matter of question about what creation we can witness by the cooperation or marketing of these two autonomous industries. Check 1k daily profit to avail an analytic guide for bitcoin trading. Whether the results be beneficial or catastrophic depends upon the moral of creation. Still, theoretically, merging these industries will have some benefits, which can have summary below.
Some Real-World Examples Of AI-Based Cryptocurrency
Many AI-based cryptocurrencies have been available in the market, with many of them having a mild to average AI complexity and uses. Numeraire is probably one of the most recognized markets among AI-based cryptocurrencies. These Ethereum blockchain-based cryptocurrencies have been in the market for almost three years. With a market cap of more than $400 million, this Cryptocurrency has been promising in competition.
The amount of AI used in this Cryptocurrency is mild in terms of complexity, and this AI does not provide any significant benefit. Another popular cryptocurrency in this field is SingularityNET. This seemingly average Cryptocurrency based on the Ethereum blockchain technology has been popular in the market due to its AI-based technological advancement, termed Sophia, an AI-based program that can understand and respond to human language. But this AI has no other use and is basically for aesthetics purposes as it seems now.
Another little-known but valuable AI-based cryptocurrency is GNY; this seems more of a project than a virtual currency platform. The GNY includes An AI specialized in machine learning, which lets many crypto holders or technicians understand the algorithm behind the processing and working of many blockchains and replicate or implement it in their field of work.
Unfortunately, this Cryptocurrency has been used primarily on background acts or is insignificant to be overshadowed, making it less recognized in the common market and hence unsuccessful among other cryptocurrencies.
Why Ai-Based Cryptocurrencies Did Not Make It In The Market
In industries, AI has been more successful in terms of usability and dependency, so why is this not in the case of cryptocurrencies? The answer is pretty simple, the AI implemented in this Cryptocurrency has been harmful to average, meaning the implemented AI has no user benefits. In some cases, it is used as a market strategy to attract crypto buyers.
Another reason for AI-based Cryptocurrency is poor performance; unlike other industries, the cryptocurrency industry is pretty complex in data management because of many factors to manage upon and the blockchain technology, which uses high-level encryptions to account for thousands of transactions made in like a minute.
An AI has to be complexity coded or made that can be fully efficient for tasks, which requires heavy demand of both research and resource. Unfortunately, the present technology limits the efficiency of AI that can have provision into cryptocurrencies.
Can The Idea Of Ai And Cryptocurrency Become A Reality?
Can an ideal merging of AI and Cryptocurrency be seen soon? There are several factors to consider while finding an answer to this question. These limiting factors include the potential limits of AI and to what extent they can be implemented into Cryptocurrency, and how much magnificence in quality can be obtained.
We have seen popular cryptocurrencies like Bitcoin, Ethereum, etc., are very much respected in the market. There are high hopes among the people about their future, so implementing changes like AI is likely to be supported by crypto users if there are efficient to a sufficient extent. These moves might be out of the question today but can be made possible in the future.
The cooperation of AI and Cryptocurrency is merely possible with the present technology. Still, if in the future, it becomes possible, then this can be one of the most revolutionized steps ever taken in the cryptocurrency market.
If you are interested in even more business-related articles and information from us here at Bit Rebels, then we have a lot to choose from.