Top 5 AI-based Blockchain Projects Everyone Should Know

Lately, AI and blockchain have been two of the most popular buzzwords in the sphere of technology. Especially, leveraging their collaborative capabilities can do wonders in reshaping businesses extensively.

Incorporating these next-gen technologies into the projects can improve transparency, scalability, and data security on a large scale. Since the future of this collective power seems bright, several enterprises aim to synergize their capabilities with the help of top AI-based blockchain projects.

Why Use AI-based Solutions in Blockchain Projects?

The adoption of AI-based blockchain platforms among both SMEs and established enterprises is on a constant rise. This could be easily understood by analyzing the figures of the global blockchain AI market. For instance, it is reported that in 2020, the market size was around $220.5 million, and is projected to reach almost $974 million by 2027.

But do you know what makes these two technologies a perfect fit for each other?

Well, the first thing is encryption. AI-integrated solutions offer a wide scope of security by developing algorithms that can only work with data in an encrypted form. This also works well with blockchain technology as it tracks and comprehends the decisions in AI.

All the decisions are recorded on the blockchain-based system and they could be easily audited with the help of AI consensus algorithms based on the data inputs offered to them. Consequently, it enhances the process of auditing the decisions, increasing the trust in leveraging AI for blockchain projects.

Besides this, advancement in the cryptocurrency market is another factor that boosts the popularity of using AI in blockchain projects. Since AI can streamline and automate most tasks, managing a complex blockchain-based crypto network becomes convenient.

Benefits of Using AI-based Solutions for Blockchain Projects

One of the best things about using artificial intelligence in blockchain projects is that it can effectively manage blockchains, gaining valuable insights from a business perspective. Some of the significant benefits of leveraging AI-blockchain solutions are:

• AI-powered algorithms can easily become conversant with various tasks and processes associated with blockchain. This increases opportunities for continuous learning.
• With the help of AI-based solutions, users can perform blockchain mining in a smart and immersive manner.
• Both blockchain and AI complement each other’s features and capabilities, thereby offering enhanced usability and flexibility.
• Transparency can be improved extensively using artificial intelligence which further develops and strengthens public trust.

Top 5 AI-based Blockchain Projects That Can Take Your Business to the Next Level

To automate the business processes while keeping the data security aspect in mind, companies often look for top-notch AI-based blockchain for business projects to start with. Here are a few most popular examples one can consider:

SingularityNET

The first project in this list is SingularityNET which provides developers with the ability to monetize AI services on a decentralized network. In order to coordinate with all the parties involved Ethereum blockchain and tokenized incentives are used.

Besides this, SingularityNET also enables developers to create several other AI services, such as data sets, ML algorithms, and AI models, and forward them to others to monetize them. This project has been developed to create and enhance a decentralized AI marketplace.

The AI-enabled marketplace integrated with SingularityNET primarily focuses on its core business areas – cloud robotics, biomedical research, and cybersecurity. Along with providing a platform for developing AI projects, the marketplace also allows users to sell tools, services, and algorithms.

Thought AI

This project is used to develop an analytical approach to encrypted data. One can combine this data with logic to get an efficient AI solution. With this, businesses can quickly process crucial data and scale up their operations. Moreover, this solution is highly responsive offering unified and protected data with near-zero management.

This project can help developers in accelerating development and governing AI without any hassle. One of the native coins of Thought AI, THT, has a market capitalization of about $2.7 million.

Read More: How to use blockchain to make an app for iOS and Android? 

Matrix AI

leverages AI-based technologies such as Natural Processing Language (NLP) to provide users with the basic functionalities related to Blockchain. NLP allows computers to comprehend language as humans do by leveraging machine learning and human language statistics models.

Some of the notable features of Matrix AI include:

• Smart contracts using auto-coding
• Top-notch security using AI-powered virtual machine
• Quick detection of potential flaws
• Easily adaptive blockchain parameters

The primary goal of Matrix AI is to deliver efficient full-stack software solutions. The market capitalization of this Blockchain AI project is around $13 million.

DeepBrain Chain

DeepBrain Chain (DBC) is another popular Blockchain AI project known for its cost-efficiency and high-security protocols. Being a decentralized AI-powered computing platform, it leverages the capabilities of blockchain technology. With such features, it supports seamless AI development by providing the most recommended sources needed to avail of a decentralized cloud computing platform.

Apart from all this, DBC brings blockchain governance and ensures safe data trading. With an overall market capitalization of around $25 million, it is one of the highly preferred AI-based blockchain projects.

Peculium

Being a decentralized savings platform, Peculium uses machine learning technology to increase both savings and earnings. With this project, users can access several investment opportunities that earlier used to be available just to one percent of the total population.

Furthermore, the users can also avail of a wide category of investment techniques that can be really helpful during rough conditions in the market. The sophisticated ML algorithms used in this project reduce the risk exposure to users while they create their investment portfolios.

Wrapping Up

Although several blockchain AI projects are under development, there are several instances where the use of AI in blockchain systems has done wonders across different industries.

For example, in November 2020, Verida Credit, a real estate loan and financial services company, launched the IKIGAI network, a decentralized OpenHealth data ecosystem powered by the combined power of AI and blockchain. This automated health information management system helps medical services providers and healthcare experts in syncing data, especially during the pandemic.

Many such initiatives are expected to come into existence with the help of AI-based blockchain solutions, revolutionizing the sphere of digital transformation.