Artificial intelligence (AI) is the capability of a digital system or a computer-run robot to fulfill the functions, commonly attributed to intelligent beings. The technology of artificial intelligence has taken the world aback with the incredible pace of its development. Indeed, AI technology has already become an ingrained part of our lives. Thus, it has become reasonably helpful in the banking system, bringing about transformations to the algorithm, especially in cryptocurrency. What it can do, to allow traders recourse to certain manipulations possible in on the crypto exchange. Let us take a more in-depth look at how it could happen.
Making Forecasts
According to crypto experts, AI technology can be successfully utilized to assess future crypto value fluctuations. In fact, for now, there are platforms, like NeuroBot and Argur, designed to analyze the crypto exchange data to make precise price forecasts. Such application showcases the potential of AI technology to help investors anticipate crypto fluctuations. Such analysis could strengthen investors trust and thus increase the investment opportunity of the crypto industry.
Conducting Transactions
Artificial intelligence technology could substantially help conduct transactions on the crypto exchange. Nevertheless, conservative traders might not hurry to utilize AI due to the high volatility of the assets on the market. In reality, for those who have an idea of how AI technology works, it reduces the vagueness and outlines the risks in crypto trading, decreasing the risk to the minimum. The technology also corresponds to the needs of high-risk investors, who are motivated to invest to the fullest. Indeed, the AI calculations could eliminate the possibility of losing assets at harsh market fluctuations and save investors’ assets. Thus, the AI tool will be especially helpful for those who are new on the crypto exchange. With AI technology by their side, they could carry out a profound market analysis to make up and determine their investment options, even despite the lack of financial knowledge.
Identifying the Community Mood
AI tool has successfully expressed itself in forecasting the behavioral patterns in the crypto industry. The crypto-asset manager, Napoleon X consistently uses this tool to collect data about the emotional mood of investors and traders on the market. Speculations on the crypto market are a distinct feature of the industry since the very beginning of its existence. The ability to carry out the sentiment analysis would become a breakthrough tool in determining what the crypto community needs at this point. It is no news that the crypto world is not only run by the economic data and calculations but also specific behavioral patterns of its players. That is why, the advent of a system which could go beyond merely predicting general “negative or positive” on the market, but also identify sadness, excitement, surprise anger, and fear.
In fact, some crypto platforms, Bitcoin and Ethereum, already feature an AI tool providing it for their users for free. Further, AI systems can infer the market’s state of mind gathering information from media and social sources. These data can predict the fluctuations the market is going to incur.
Crypto-Platforms Featuring AI technology
The most vivid example of a platform utilizing AI technology is a Chinese based blockchain platform Matrix AI (MAN). The platform uses AI technology for security purposes, using automatized “auditing and self-optimization.” The platform is known for processing around 50,000 transactions per second, and its TPS rate is expected to rise to 1 mln forthcoming. The platform uses AI technology to facilitate the conclusion of smart contracts in innate language. Being able to process a large number of transaction, Matrix AI attracts large numbers of users. Employing a code generator, this China-based platform can easily translate Chinese and English languages into programming ones. At this point, the Matrix AI has quite a low market price – $0.37. However, according to experts it is about to surge up and become the “next 1,000 percent ICO.” Matrix AI has a list of driven developers, those who work in Google and Microsoft.
AI Technology within Metahash Network
The team of Metahash developers has made its best to design a unique tool to contribute to a quick and reliable Blockchain platform. AI technology was the backbone of this innovation. The platforms use artificial intelligence to asses trust nodes. After an unsuccessful attempt, the system blocks the node, to protect the platform from attacks. In case the node conducts transactions inaccurately, the level of trust lowers significantly. Due to such a protection mechanism, Metahash nodes operate 100& percent correctly and make for a high level of trust. Besides that, Trust Nodes also influence the votes, considered for other types of consensus. Each node has a code, that votes for the functions of other nodes. Consequently, the voting prepares the roles for the nodes in the following circle of the network’s operation.
