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How Artificial Intelligence Can Prove
Helpful For Cryptocurrency
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Today, cryptocurrency has
become a popular digital
phenomenon in terms of
finance. Gone are those
times, when people were
stuck to their staple mode
of payment, i.e fiat
currencies. With the very
innovative development of
Bitcoin on 3rd January
2009 by Satoshi Nakamoto
has ignited the growth of
cryptocurrency as the best
alternative to these
regular currencies.
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● If you are abreast of the latest crypto news, then you must be aware of how
crypto exchanges had been victim to hacking and theft by malicious players.
There have been unfair practices participated by companies on a smaller
scale.
● Such insecurity raises the question mark on the cryptocurrency use. But with
artificial intelligence, such insecurities can be swept away.
● This is all because of persisting interest in this modern digital technology that
has the potential to solve the security issues in blockchain technology. AI can
help blockchain secured from the prying eyes of malicious actors.
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Artificial Intelligence:
Cryptocurrency
A
Helping
Hand
To
● As we have mentioned above, how artificial intelligence can be of much help
for cryptocurrency by resolving security issues prevailing in blockchain
technology. It does its best to keep malicious actors away from it. But
besides ensuring security, AI is also efficient in helping other ways too.
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Securing Digital Wallets
● If you are a crypto user, then you know this fact that digital wallets are the
best way to store and manage your funds. The protection of these wallets
relies on crypto codes. But if you have been regularly following the latest
news on cryptocurrency, then you will be familiar with the past instances,
where hackers had cleverly sneaked through cryptology and had successfully
get away with the funds through using malware. Keeping note of such
malware attacks, artificial intelligence comes up with a brilliant idea of
launching a system that becomes impossible for hacking.
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Restricting Illegal Mining
● Artificial intelligence can play a very big role in restricting illegal mining. That
is why some firms are interestingly referring to artificial intelligence to make
sure about the fair process of selection and rewards without getting
tampered.
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Intercepting All Kinds Of Hacking
● Artificial intelligence is a self-learning concept, which is growing at a very
rapid way with expanding changes in the conditions of the network and
posing a challenge for hackers to track down any prone weaknesses. AI is
efficient enough to resolve the problems in the blockchain.
● It can even alert about groups that falsify fake identities to impact on the
network. If there are maximum fake identities created by the malicious
group, then they may redraft the blockchain for their selfish motives. Here
comes the role of AI in alerting the system.
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Growing Craze For Artificial Intelligence By Companies
● The more relevant is artificial intelligence to the technology, the more
blockchain is for the cryptocurrency industry. The growing liking for AI can
be estimated with the participation of startups that have expressed interest
in artificial intelligence more than other technological companies.
● There are various zones where artificial technology has proven its efficiency
in terms of automated trading. One of the zones is High-Frequency Trading.
This factor depends upon the study of technical indicators across the
number of exchanges to counter market running trades much speedier than
the others in the market.
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● Having much convinced with the promising nature of artificial intelligence
does not mean it is a solution for all aspects of the crypto industry. It won’t
be delivering the efficient human traders superfluous swiftly as possible.
Still, it has gained much attention and prominence in the crypto sector for
tracking down scams and bots.
● Acquiring machine knowledge and trading assisted with artificial intelligence
have garnered much interest in previous years. This approach is utilized to
examine that inability of the cryptocurrency market can be taken advantage
of hatching unexpected benefits.
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Conclusion
It even became a preferred choice for investment with digital assets like
Bitcoin, Ethereum, Litecoin, Monero, Dash, and many more. But despite
all advantages, the blockchain technology did become a target of
malicious hackers and steal away the hefty amount of money by
breaching the security. Thankfully, artificial intelligence came as big help
with smart systems and solutions to ward off theft and hacking. Keep
yourself abreast of altcoin news, to know any updates regarding crypto
coins.
Sources
https://www.cryptoknowmics.com/news/
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Crypto discussion forum
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Features
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Crypto gaming platform
ICO Launchpad
Blockchain tutorials and courses
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