Unless you’ve been living under a rock, you know that AI-powered technologies are currently being implemented in each and every pore of our existence. Virtually all industries are being affected, one way or the other, wouldn’t you agree? From IT, EVs and supply chains to MedTech, FinTech, Entertainment and everything in between.
Naturally, the world of cryptocurrencies is here too.
Perhaps the best instance of this symbiosis between crypto-based money and AI is what Bitcoin is doing with Lightning Network, essentially the combination of Bitcoin and Artificial Intelligence. This integration of AI-powered tech into Bitcoin’s Lightning Network is a brand new kind of kinship that comes with a massive potential to completely transform, and quite possibly disrupt, the FinTech industry and, some say, the internet itself.
How? Via its impact on everything: from micropayments to AI-powered online economic agents. But first things first. Let’s tackle the question of what Lightning Network really is.
The Speed of Innovation And Revenue
The development of AI tech relies heavily on fine-tuning AI models. And that is exactly the process that the Lightning Network can enhance. Micro and instant payments empower people globally to fine-tune AI.
So, aside from trading cryptocurrencies, like BTC to INR there are newly emerging ways of earning money via cryptos. But this time using the following: nascent, AI-driven tech that resembles the early days of Bitcoin when users could earn digital currency by completing simple tasks like solving captchas for instance.
And the best part? You can earn Bitcoin for each completed task. This system taps into the vastness of the global internet landscape, engaging over 4 billion active mobile internet users who could play a role in AI development which is quite a lot.
The Lightning Network shines with its ability to match interconnect speeds. It can even surpass (and by far, at that matter) even the quickest node-verified blockchains. Yep: speed is THE answer.
When AI entities are making transactions for services, there’s simply no room for delays. Not even for a few milliseconds, which is shy Lightning Network is emerging as a great solution for this problem. It enables high-speed transactions and high levels of scalability.
What is the Lightning Network Essentially?
As per the definition we found in Investopedia: the Lightning Network is a layer of Bitcoin (BTC) that upgrades capabilities and capacities of the blockchain and does this using micropayment channels. What is the end result? The outcome accounts for much faster transactions that are also more cost-effective in nature.
This mechanism offers a quick, solid and scalable solution for fixing Bitcoin glitches through off-chain transactions. In other words, it is basically a transaction channel that allows two parties to send and receive money/payments quickly and seamlessly.
With AI, Bitcoin’s already-useful Lightning Network is becoming even more powerful, evolving into an architecture that could truly disrupt everything.
But how exactly will it do just that? Let’s try and break it down for you below.
AI and Bitcoins’ Lighting Network Creates a New Synergy
It’s no secret that AI models are getting smarter every day. This statement becomes true if you examine the evolution (and costs) of training models. These systems are becoming so good at finding and recognizing patterns as well as making decisions based on the information they gleaned from their new datasets.
The technology and the concept behind the Lightning Network system fits perfectly into all this as it has the capacity to become a real game-changer for AI training. It does this by handling micropayments quickly and safely while keeping fees low. These features enable businesses, no matter which industry they operate in, to collaborate in a more streamlined manner and share costs more effectively.
But now, let’s talk about a real treat for those who are fans of decentralization (in every possible meaning of that word and concept), but also those who love the following: leveling business playing fields and earning actual money in the process.
The said treat is that this system opens up AI development to everyone, not restricting its perks and access to “big players” only.
What About Bitcoin Valuation?
We can all agree that AI-powered tech is now permeating various different industries, while Bitcoin is sealing its place as an important device used across AI-driven economies. The combination of these two things, accompanied by Lightning Network’s increasing utility and the growing list of mproved features, will almost certainly result in a surge in Bitcoin value.
It’s all about the scalability of Lightning Network and low fees. These factors are now putting Bitcoin at the forefront and making it a number-one choice for microtransactions and AI-driven financial activities.
And what are the implications for the future of FinTech? Likely huge. The potential and benefits of implementing decentralized AI development are massive, opening up numerous income and growth opportunities.
