The latest event for EthCC blockchain developers dedicated to Ethereum brought together a huge number of representatives of the crypto industry in Paris (France). They discussed that the worst of the bear market was behind them. But perhaps the main theme of the event was the growing adoption of artificial intelligence (AI) technology. Numerous presentations and side events have been organized in this regard.
Most investors are optimistic about the intersection of cryptocurrencies and artificial intelligence technology. However, they had disagreements about how they should interact with each other in the Web3 space. For example, Ken Timsit of Cronos Labs sees AI as a productivity tool in the crypto financial markets. According to him, now it may look like the launch of chat bots on exchanges. In the future, according to the expert, providing analytical capabilities to crypto traders and institutions can become a powerful force.
As for Upshot, they have been using AI to value non-fungible tokens (NFTs) for the past 3 years. According to the organization’s analysts, “NFTs are the rails on which trillions of US dollars (USD) worth of assets can be transferred to Web3. This includes art, luxury, insurance and real estate.”
According to StarkWare co-founder and president Elie Ben-Sasson, blockchains are especially good for social coordination, and ZK is a privacy technology that doesn’t have to be machine learning-friendly.
The key problems of this development are the computational power, performance and usability of the ZK proofs, which remain relatively slow. Companies such as Manta Network and Fabric Cryptography are now actively working to eliminate these problems, not without the use of AI.
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