Integrating Artificial Intelligence (AI) into Blockchain: Velas AIDPOS
The first two questions that will come to your mind are; What’s Artificial Intelligence? What is Blockchain?
The beauty of all two is the fact that they are built using mathematical processes and are branches of computer science.
Artificial intelligence or AI is the branch of computer science that deals with building machines to think humanly and rationally. Blockchain on the other hand is a decentralized system that is a distributed public ledger that is immutable.
In each of its individual complexity, AI and blockchain are predicted by 2030 to add a value of $15.7 Trillion and $3.1 Trillion to the global economy. Many developers and researchers have been looking into the consideration of putting both into a combination that will affect the other positively. Looking at the possibility of integrating machine learning and AI into the blockchain, and the other way round can enhance the underlying structure of the blockchain as well as boost AI’s potential.
These, in particular, are the areas the Velas Team were looking into when this topic was brought up and fundamental research brought up the thought of; an Artificial Intelligence-based Decentralised Proof of Stake Consensus Algorithm (AIDPoS) and Distributed learning.
For the AIDPOS consensus algorithm, the main principle is to integrate AI to adapt the blockchain to current circumstances within the network, preserve the level of performance and resilience at optimal ranges. This is attained by embedding trained models at every node based on data collected at the previous epoch.
One of the most important aspects of this integration on the Velas Blockchain is the use of a ‘recommended algorithm’ which is built based on machine learning, providing a change that is dynamic in the network parameters as well as consensus on smart contracts from epoch to epoch. This ensures security, resilience, and productivity for all of the participants.
The two main important concepts here are “performance” and “resilience”, these are measured by the number of transactions per second and the ability to resist attacks and function properly during such events respectively. The two features that ensure this resilience on the Velas Blockchain are “security” — the amount of resources an attacker will need to spend to break the blockchain and “decentralization” — an absence of a single point of failure. To further compound this security, the Velas Blockchain integrates the Path Network which is a U. S based company that “specializes in DDoS mitigation and enterprise security for services such as exchanges, financial centers, server hosts and other such enterprises that require reliability, 100% uptime, and protection from malicious attackers”, as stated by the official Velas Blockchain on Medium.
Distributed Learning as proposed by the Velas Team, involves utilizing the resources of the Velas Network participants for distributed computing and deploying resources for the building of infrastructure for external developers within the fields of machine learning and deep learning. This allows for network users to monetize their computing power as well as enabling external entities to use the Velas community’s distributed power to execute personal tasks.
In conclusion, the Velas Blockchain is working towards an ecosystem with a philosophy that embraces sustainability, high performance, and economic equitability for its participants. This is not only limited to the features explained above but for the earlier periods, the team is working towards implementing the AIDPOS consensus and the Distributed Machine Learning system. In the future, we are working towards bringing an ecosystem that will be driven by advanced AI Technologies.
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