Technology has been moving at a rapid rate in this past century. Developments in technology have revolutionized our lives and I will be discussing one of the most hottest technology right now — Blockchain Technology.
Blockchain are database technology that is built to deliver better data information services.
One example that everyone can relate to is waiting for hospital records. If you went to a hospital for a check-up 30 years ago, your medical records are often kept in hardcopy and administrators do take some time to find your records. Fast forward to the present, most hospital records are digitized and the time spent searching is reduced. However, with the large database, searching becomes less efficient and it just isn’t feasible for hospitals to always upgrade their computer hardware to keep up.
Blockchain technology aims to solve this problem by linking blocks of data using cryptography and they are secure yet at the same time, public. This distributed ledger allows information to be secure because each user is required to confirm transactions independently.
With blockchain technology coming about in 2008, with the birth of Bitcoin, more technologies have been integrated to enhance the use cases of blockchain. For instance, Artificial Intelligence (AI) are being used widely by many blockchain companies for their operations.
With the complexity of the database and amount of variables, AI algorithms are used because of their capacity to assess large number of data independently and learn which task is important based on past information.
For example, AI algorithms can be used to decide if a transaction is fraudulent or not, depending on past information.
Through machine learning, AI that are being fed accurate past data can learn instantaneously and be more efficient in processing transactions. On top of that, AI can deter cyber attacks with its AI algorithms and machine learning. This adds on to the layer of security that blockchain technology already provides.
Both blockchain and AI helps to compliment one another and bring back better security, accountability and scalability which many blockchain companies do.
For example, a blockchain company, Spiking utilizes both AI and machine learning on their Robobull, a platform where their users are able to locate Whales and be able to mirror their trades real-time on multiple exchanges.
As cryptocurrencies are being traded on several cryptocurrency exchanges, Spiking’s AI platform allows their users to follow the trades done by Whales and simultaneously mirror the trades by the Whales. Their AI makes trading a lot simpler and convenient for their users because of their mirroring.
Blockchain and AI have already changed many aspects of our lives and with more technological advancements lined up for the future, I hope to see a better and brighter future built by us!
By Ryaan Hannafi, Maintenance Coordinator
Drawing from its successful and rich experience in the stock market since 2016, Spiking is expanding to cryptocurrency trading! With its unique and powerful trading tool and its AI robot Robobull, Spiking enables traders to easily find whales and mirror the trades automatically. At Spiking, we strive to help traders make better decisions and take the steps toward fulfilling their dreams of achieving financial freedom. Check out Spiking App, Top Grossing Finance App at App Store & Google Play.
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