Crypto veteran Sergey Nazarov, co-founder of Chainlink Labs, an organization overseeing the development of Chainlink (LINK) decentralized oracles network, reflects on the euphoria about the synergy between AI and blockchain.
Secure cross-chain and zk-proofs: Sergey Nazarov on Chainlink (LINK) in AI and blockchain
Today, Feb. 15, 2023, Mr. Nazarov shared a thread on Twitter to cover the opportunities artificial intelligence (AI) unlocks for blockchains. He is sure that the two segments have a lot of "points of intersection."
Blockchains and AI have many points of intersection that can enhance both technologies.— Sergey Nazarov (@SergeyNazarov) February 15, 2023
It's still a guess about how fast each will reach wider adoption & in what form they will all interact. However, it is encouraging to see both finding product-market fit at scale.
Meanwhile, the accurate prospects of massive adoption of both are still yet to be seen, as is the market's demand for blockchain and AI solutions. If (or when) the interest in both becomes obvious, they would need decentralized oracles solutions.
For interaction between AI and blockhains, decentralized oracles will serve as "interoperable and trust-minimized middleware." This collaboration can push the barriers in various segments of data management optimization in blockchains.
Namely, Mr. Nazarov says, three spheres will be in the spotlight: AI-based fraud detection in cross-chain, zero-knowledge proofs in data broadcasting to AI models and secure permissioning between AI and other systems.
As such, he mentioned that Chainlink (LINK) has already started R&D efforts in corresponding fields:
We try to figure out how machine-assisted learning and blockchains can combine to enable fair, intelligent, and meaningful forms of human collaboration.
As of press time, Chainlink (LINK) token is changing hands at $6,88, being up 2% in last 24 hours.
Is AI crypto euphoria losing steam?
AI euphoria as catalyzed by the release of ChatGPT, an AI-powered chatbot by OpenAI corporation, triggered rallies of all tokens somehow related to artificial intelligence and machine learning.
SingularityNET (AGIX), Fetch.AI (FET), Ocean Protocol (OCEAN) and number of well-known AI coins rocketed by 100-300% in a few days, while low-caps witnessed four-digit rallies.
The AI hype seems to be far from losing traction. Despite the fact that all AI tokens are 10-20% down from their ATH in the last 24 hours, the capitalization of AI cryptocurrencies added 22% and regained $2 billion levels.