Is Artificial Intelligence (AI) the Future Of Cryptocurrency Mining?
We should be asking ourselves this already... (yes, already!) "Is Artificial Intelligence (AI) the Future Of Cryptocurrency Mining"?
Why do I say this?
Today it was announced the mining behemoth Bitmain is already considering moving their ASIC miners computing power to Artificial Intelligence as a means to speed up the mining process and save on electricity.
Smarter computers are the best solution for long term mining because they can solve the math equations faster and "think for themselves".
Since early last year, I've been stating to whomever would listen, that Quantum and AI are the future of crypto, mining and computing itself. They may be expensive now but all technology is when it's first released -- supply and demand.
It is more powerful, faster, and more accurate than our current computing systems. And with the high cost of electricity and crypto/blockchain gaining ground, many new coins will also need to be mined and this uses a LOT of electricity. But what if there were more powerful computing systems that could ease the need for so much electricity and mine more coins faster?
This is exactly what large companies are thinking...
Bitmain located out of China, has had to deal with much regulations from the Chinese government, but as long as they can "work together" they can stay on the forefront of blockchain technology. China is moving into big developments within the AI and want to be the leader of this industry by 2030 so it makes perfect sense that Bitmain would move to this approach and start creating their own AI chips for their miners.
On top of that, mining is no longer dominated as a "hobby" approach like the beginning stages of cryptocurrency, but is now taken seriously and heavily invested in by by big money investors and full companies as a competition in this space continues to soar.
So what does this mean for AI as a whole? With such a large name in the industry "leading" the pack in AI development, other AI cryptocurrencies and businesses will start to gain more recognition and appeal which means the value of their business can inflate extremely fast and progressively.
Take DBC (DeepBrain Chain) for instance... It's a blockchain backed by AI. Here's their statement:
"Using blockchain technology, we have developed a decentralized, low-cost and privacy-protecting AI computing platform with a full range of related products and services.
DeepBrain Chain is a decentralized neural network. Countless nodes across the world will supply computational power to AI companies and receive DBC as rewards. 70% of the DBC will be paid by the system and AI companies only need to pay 30%.
Our token, DBC, is traded via smart contracts based on NEO. We use a hybrid consensus mechanism combining DPOS with POI.
DeepBrain Chain is also a secure data trading platform which, by separating data ownership from data usage, maximizes the value of data while ensuring data privacy."
"Peculium is the revolutionary savings platform that seamlessly merges traditional savings economy with the cryptocurrency markets via the power of Automated Machine Learning, Artificial Intelligence (AML-AI), Big data analytics, and the Smart-contracts over the Ethereum Blockchain.
Peculium is the bridge between the traditional economy and the new era of crypto-economy, reducing barriers, decreasing volatility, increasing confidence, and creating a mutually beneficial endeavor. Peculium is the door designed to achieve the best risk-benefit ratio for the crypto-investments whether you are an individual or an institution."
Invest in PCL here
There are many more, each with their own use case. You can find them on coinmarketcap.com
Why should you care about what happens in the mining world whether you're into cryptocurrency or not?
Cryptocurrency mining affects the overall crypto (and blockchain) market because the more miners online actively mining cryptocurrency actually helps stabilize the market and add to adoption rate. And with an adoption rate to not only "new" technology but decentralized tech. The more adoption in decentralized tech means you control your own assets. (And we should, as we're all our own brand, within the realm of social media so we need all our assets to run out business, which is essentially us.) And the more adoption in this tech world means we can evolve as a species to a more efficient way of controlling our own assets and coming together in like mind which helps us evolve OUTSIDE just the realm of cryptocurrency & blockchain. So this is very important to our species as a whole. Every little bit of information leads us down a rabbit hole to something bigger and connected only one degree away of separation from the next evolutionary stage of our livelihoods and future of mankind.
Faster. Better. More efficient.
So in conclusion...
Make sure to look into everything to do with AI and find your hidden gems before they gain even more speed and momentum in the market place. Not only could you make a lot of money, but this will help adoption of AI much faster.
AI is due for a MASSIVE adoption, which we'll see in the coming months and years... You can count on it!
Always stay updated and educated.
**I am not a financial advisor or accountant. Do your own due diligence before investing and always have a game-plan ahead of time before investing.