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How Web3 will use Artificial Intelligence

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How the Web3 will use artificial intelligence
When Web3 will use artificial intelligence
the chain of blocks
Dapps on the Web3 with artificial intelligence
protocols

  • In 2011, Marc Andreessen commented that “Software is eating the world”. At a time when Google, Facebook and Amazon began to dominate their markets.
  • However, Andreessen wasn't just referring to software companies, his commentary went much deeper than we could imagine at the time.
  • The Internet is changing, it is something inevitable and centralization is something that sooner or later will be in the past. One way or another.

We can't help but wonder how Web3 will use artificial intelligence . There are three main components going forward, the first and most important is the blockchain itself. The second would be the Dapps, which are the applications that run on the blockchain, and the third, but no less important, would be the protocols..

How the Web3 will use artificial intelligence

the chain of blocks

We are going to start with the most important part of Web3, this would be the chain of blocks. This is a characteristic that is fundamental in blockchain, it is the decentralized nature, which means that it is almost impossible to commit fraud in the chain, because the records of each transaction are recorded in different servers.

However, this ability is not absolute and the AI ​​is capable of creating an additional layer of security for the blockchain. This is because AI applications are capable of extracting data with great speed and predicting behavior based on that data. Advanced AI systems will be able to predict fraudulent behavior and stop attacks before they start..

For that matter, something similar is already happening. At the beginning of 2022, Elrond Blockchain sought the services of the company Web3 Al Anchain. The idea was to seek help implementing AI-powered web analytics on-chain. In theory, this implementation would be able to help analyze patterns through machine learning and help proactively stop any fraud attempts. Of course, we still don't know exactly how effective it was, but the very fact that it's being tried means that we'll gradually see this more often.

Dapps on the Web3 with artificial intelligence

Figuratively speaking, the AI ​​is likely to eat the Dapps in the first place, something they are already doing. This is something we are seeing in many Dapps these days..

For example, there are already dapp games on the blockchain that make use of AI. Within a while, we might see games that would completely change the setting, difficulty level, and missions depending on the mood of the players.

Nor is it something so far into the future. In 2019, Cortex Labs announced that they decided to launch the first AI dApp on their mainnet. This was called Digital Clash, and it was the first dApp to incorporate on-chain execution of machine learning models.

Most strikingly, the Cortex blockchain provides AI developers to upload trained models to the storage layer and developers can make use of these for development.

For that matter, NFTs (to some extent) could be considered good examples of how Web3 could incorporate Dapps and AI. We could eventually have NFTs that change their appearance to reflect the mood of their owners.

protocols

In the case of protocols, it is the only part of Web3 that is already being consumed by AI. Smart contracts and DeFi appear to be ripe for AI-led disruption and this is something that will happen before long.

It is also possible that we will see the AI ​​disruption in lending first. Let's pretend that an AI can determine the DeFi credit score by reviewing the data online. Let's imagine for a second that this credit score is fairly accurate and is able to predict certain things, like how likely you are to pay off your debt.

This would be an extremely positive thing, the end of excessive collateralization, which is a big problem in many areas, not just DeFi. Should AI be successfully implemented as a protocol, it would immediately triple the size and potential of DeFi; This is thanks to the fact that it would manage to solve two fundamental problems of traditional financing: intermediaries and collateralization

When Web3 will use artificial intelligence

We already know how Web3 could make use of artificial intelligence, now it's time to understand when. The evolution of AI systems is advancing remarkably fast, and every day more people create interesting products on Web3.

However, this does not mean that we know exactly when Web3 will be viable enough to become an absolute protagonist. At the moment, many people are comfortable with certain centralized things and don't want to make their lives too complicated by learning and learning about Web3.

But we must consider that this scenario will not last forever. Security and privacy is a topic that is gaining more and more strength and more people are paying close attention to the fact of leaving so much power in less than centralized companies.

Disclaimer:  The content and links provided in this article are for informational purposes only. islaBit does not offer legal, financial or investment recommendations or advice, nor is it a substitute for the due diligence of each interested party. islaBit does not endorse any investment or similar offer promoted here. Some of the publications could be promoted by interested third parties.


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