AI and Bitcoin: A Sense of Blockchain Development
Artificial intelligence is a comprehensive topic and to study about it, imagination is much needed. With the advancement of technology, man has been able to fulfil his imagination which has raised the level of imagination in return. There have been questions concerning existence of God. Those who believe that God exists, also accepts that humans are mere puppets in the hands of God. Those who don’t believe are constantly to challenge God by using technology to create such machines that work as puppets in their hands thereby believing they are God themselves. Though it started from criticism, it has today earned utmost fame all over the world and constant research is done on it to make human life easier by replacing manual work to machine work.
Blockchain technology helps in online transactions because of its ability to exchange currency online in digital form. Blockchain is built in such a manner that protects it from any damage or online theft. Bitcoin is emerging rapidly in the digital transaction market, because it is built using the blockchain technology. Thus, it can be seen that blockchain development is revolutionizing the whole tech market involved in digital financial transactions.
The blockchain development technology basically works on the use of cryptography which enables in providing alternate options to keep the data secured in the encrypted form. This prevents the stored data from manipulation, thereby, proving that blockchain technology can turn as an asset for various crucial fields like E-commerce, finance, insurance, healthcare, e-learning, travel, contract validation, music, as well as renewable energy.
Blockchain technology has given rise to Ethereum platform which further has laid a foundation for development of various mobile as well as website apps. These apps are backed by different programming languages.
Cryptocurrency and Bitcoin
Blockchain-based distributed app helps to prepare a system which can store large amount of data which cannot be manipulated. This system makes use of efficient media and good communication distribution. Since blockchain provides great security feature, the app development is easy and customizable.
Though Bitcoins is considered virtual currency, it is highly used. It is the technology that has created a great buzz of cryptocurrencies in the market like Bitcoin. Taking a new leap, technology is integrating Bitcoin Wallet payment apps with traditional payment apps. Thus, witnessing the great future of cryptocurrency, there are many app developers who are coming with developing Bitcoin mobile apps leading to the development of cryptocurrency apps.
There are many benefits of using Bitcoin, some of which include safe as well as quick business transactions, easy invoice tracking, custom fee structures, and uncovering innovative payment possibilities. Thus, a Bitcoin-based mobile app helps in tracking the balance along with transactions. Though Bitcoin is virtual currency, its digital nature is making it more viable.
The different functionalities of Bitcoin mobile app development include app designing, developing, customizing, integrating, API implementation, and cross-platforms. These functionalities cover those required which are related to cryptocurrency development. There are different companies which are focusing their efforts to develop the wallet apps, witnessing their rising demand in the market. The reason behind this rising demand is the rise in the usage of cryptocurrencies. Further, the companies are focusing on integrating modern wallet apps with different traditional wallet apps so that they are easily accessible to everyone.
IT services of the blockchain technology are highly productive as well as agile. The best part is that due to blockchain technology, they are easily affordable. The blockchain development is experiencing a great amount of improvement since most of the companies have started concentrating on Bitcoin app development along with other cryptocurrency app development.
Artificial intelligence and Bitcoin
AI has been potentially world-altering while bitcoin has started disrupting the global financial system and has added a new definition of money. The question arises if artificial intelligence can be integrated with bitcoin, so that even the common people can invest money digitally. For answering this, both the concepts, artificial intelligence and bitcoin needs to be understood separately.
What is Artificial intelligence
Artificial intelligence refers to such software which keeps improving after the initial programming. This improvement is based on the experience it intakes from the surroundings. The concept of artificial intelligence is different from that is shown in movies, where robots are portrayed as human-destroying droids. Instead, AI has worked for making the lives of the people better by contributing vastly in different fields including healthcare system, education system, safety, transportation system, and entertainment. Also, in field of the financial trading, the AI is being used since last two decades for generating profits for different hedge funds, banks along with other trading companies.
Digitally financial trading
Digital financial trading has seen a rise with the introduction of bitcoin. Since February 2011, financial trading has gained great momentum. Bitcoin today stands at parity with US dollar. After seven years, the prices of bitcoin vary between $1,200 and $1,620.
There are many reasons behind the success of bitcoin. Because of its integration with blockchain development, it is decentralized in nature. This decentralization protects the global digital financial trading from all the government policies. Bitcoin is being seen as an alternative to paper currency because many countries are facing hyperinflation or have lost much confidence in the paper local currency. Along with this, Bitcoin can be managed easily because it is simple and safer in use as compared to paper currency. Also, it is cheap to transact the bitcoin without the interference of any intermediary.
Though there has been an increase in the prices in last six months, Bitcoin stood as an asset because of its market volatility. For instance, the limited supply of bitcoin has been coupled with the government’s inability to beat the market forces which simply refers to the fact that bitcoin quickly reacts to the market bias.
For understanding it more clearly, consider the bitcoin ETF buzz. The price of the bitcoin saw a trend towards northward, even ahead of the growing optimism of ETF of SEC. The price hit $1,327 per coin. But after this, SEC pulled down both the ETF projects namely Gemini and SolidX bitcoin. The price saw a downfall by 20%.
Additionally, short term fluctuations have been evident through the bitcoin charts. On an average Bitcoin chart, the value of bitcoin ranges between $10-$15, every 4-5 hours. These fluctuations in the value of bitcoin makes investment uncomfortable for the investors. There are many day traders who makes use of the volatility of the bitcoin to make good profits from the market daily. They are those traders who remain fixed and glued to the computer and mobile all day, tracking the whole market from the entry as well as exit positions.
Bitcoin: Young market and highly volatile
Thus, the original question is back that if this young, volatile market of bitcoin be coupled with the concept of artificial intelligence. If this coupling will be able to produce great profits, the digital financial trading can be seen as a boon.
With the market capitalisation in low millions up to low billions, the cryptocurrency market presents a very small opportunity to attract traders and investors for hedge funds and other trading functionalities. They make use of the power of the deep pockets integrated with artificial intelligence for generating great profits from the high frequency trading which can stand as an advantage over competitors to generate huge returns. This coupling refers to the fact that there is a great room because the cryptocurrency market is still in its infancy for the AI developers for creating such systems which can learn as well as identify profitable opportunities in young and volatile markets.
There are various cryptocurrency enthusiasts who are coupling the concept of Deep Learning System with imagination, innovation, as well as a deep understanding of various inputs which are relevant to predict the movement of digital currency market so as to yield such profitable returns that can contribute to outstanding results.
At the same time, there are many people who are involved in cryptocurrency, are feeling that the cryptocurrency market is marching towards the mainstream. There are some players and banks in the market which are focusing on the different methods to generate profits out from cryptocurrency market.
Thus, artificial intelligence and bitcoin collectively are presenting greater opportunities for various individuals to benefit from the global financial system turning into digitally financial system.
Coupling of AI and Bitcoin with Blockchain
There are blocks which can be created with the help of mining. The process of mining can be defined as a process of solving mathematical problems with the help of computing power. Along with computing power, these problems can be solved by using artificial intelligence fit for financial trading. The computing power is basically dependent on the architecture of the processor. Taking into account the whole system, the computing power has been seeing a great rise. Thus, artificial intelligence, bitcoin and blockchain development can help the computing power to work more efficiently. It is a smart and flawless concept which can enable different available quantum computers.
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