The blockchain is a digital ledger of financial transactions that is maintained by a network of computers rather than a central authority. This makes it nearly impossible to hack. But that also means it can be very risky. New blockchain projects are cropping up every day. Some seek to improve the safety and scalability of digital currencies like Bitcoin. Others are creating new decentralized applications that run on the blockchain rather than a central server. It is critical that these projects integrate artificial intelligence as soon as possible to protect their blockchain from hackers and other attackers. This article looks at five ways artificial intelligence can protect the blockchain and how it can start today.
What is Blockchain?
Blockchain is a type of database that is decentralized. It is a decentralized database because it is spread out across multiple sites and users rather than being centralized. This decentralization makes it extremely difficult to hack. There is no central database that hackers can gain access to. However, it does mean that blockchain systems can’t talk to one another. This is where artificial intelligence comes in. It can be used to create a network where the blockchain systems can talk to each other. AI is also useful for analyzing data. It can provide insights into the blockchain’s current state and help detect anomalies in the future that could reveal a hacker.
How does AI help blockchain?
Artificial intelligence can be used to protect the blockchain ledger. AI can be used to track and validate data and verify that code is working as intended. AI can also be used to perform an analysis of the blockchain to validate the source and destination of data, the amount of data being transferred, and its destination. This can be used to identify nodes in the network that are sharing and manipulating data. This can also be used to identify malicious nodes and track asset movements.
Can blockchain be copyrighted?
Yes. The blockchain is a digital ledger. A digital ledger can be used to store copyright data. This means that you can register your copyright data on the blockchain to create a proof of ownership. A blockchain can also be used to identify the source of copyright information. You could register your copyright through a government agency or a centralized service. If a blockchain is used to register and track the copyright, it can provide proof of ownership and authenticity.
Hashing
Blockchain transactions are sent and received using cryptographic hashing. This is simply a mathematical process that transforms data into a unique form that is virtually impossible to reverse. This makes it very difficult for hackers to reverse engineer transaction data and create fake transactions. Hashing is also how AI on the blockchain can identify new transactions. If the changes match something that is already in the database, the new transaction is processed. If not, the transaction is rejected.
Blockchain Analysis
AI can also be used for analysis. It can look at the blockchain and identify who sent a transaction and where it came from. It can also look at the blockchain and identify patterns. These patterns can be used to identify hackers. This allows the blockchain to create a “risk score” for each transaction. It will know if the transaction is suspicious if the risk score is high enough. The system can then alert the blockchain operator if a transaction is bad. This can help them identify bad actors and stop them from attacking the network.
Data Feeds
Blockchain data can be stored in the blockchain. But, it often needs to be accessed by various applications or services. These services can be distributed across the Internet. This can make them highly vulnerable to hackers. They can attack the servers where these services are hosted. Looking at the blockchain can help security teams identify where these services are and what data they are storing. This information can then be used to block hackers.
Random Number Generation
Blockchain systems often generate random numbers to create unique addresses and to create addresses that are not easy to reverse engineer. AI can be used to generate random numbers so that they are not easy to reverse engineer. This can be useful when storing data on the blockchain. If hackers want to get access to the data, they can’t simply reverse engineer the address. They need to know the original data first. AI can be used to generate unique addresses that are difficult to decipher.
Smart Contracts
Blockchains are frequently used in decentralized applications (dApps). These dApps can be quite complex. It is often difficult to write code that is decentralized and that will run on a blockchain. AI can be used to automatically write smart contracts for various blockchain applications. This means that the AI can write the code for various blockchain applications without human intervention. This greatly reduces the time and cost associated with creating new blockchain projects.
Conclusion
The blockchain has been around for over 10 years. The technology has matured quite a bit since then. But there is still a lot of potential for AI on the blockchain. It can protect the blockchain against hackers. It can also help provide greater insight into the blockchain to detect anomalies in the future. Once AI is used on the blockchain, it will never be hacked again.
