How AI and Blockchain Can Help You Earn a Passive Income ?

The past decade has been rife with speculation about both Artificial Intelligence and Blockchain Technology. Both have huge potential for human society as it exists, and both take a long time to create effective products. Highly developed AI modules have entered the real world in products such as spam filtering, AI-based chess engines, and even self-driving cars. The real genius of these inventions is that they can independently generate code to solve problems in real time without human intervention. So let’s look at the ways these strengths can be combined with blockchains to create passive income investors.

Artificial Intelligence and Blockchain – Basic Knowledge

Blockchains are the latest major revolution in the field of data storage because of their unique strengths such as transparency, security, and accessibility. The data stored on a blockchain is completely immutable for all intents and purposes making the blockchain a form of “ledger of truth”. Additionally, due to the use of public key cryptography, blockchain users have their private keys, giving them complete control over their digital assets. This results in decentralized ownership that doesn’t depend on a centralized government or business to secure the value or ownership of assets.

Artificial intelligence or machine learning is a type of software that can solve new problems based on data it has used before. AI models mainly rely on the datasets used to train them because their accuracy is a function of the data fed to the model. For example, an AI that aims to beat the top chess players in the world needs to look at all kinds of different playing strategies in order to develop its winning strategy. Once the AI ​​receives a stream of data, it runs some correlation and regression analysis on it to simplify the data for further use. Then, when it needs to apply that knowledge to make real-world decisions, it uses condensed data to make decisions. Therefore, the quality and accuracy of the data provided for AI modeling is paramount. This is where blockchains can be very useful for AI development as they can directly link data producers and consumers and also ensure that the data generated is in fact accurate and authentic. real.

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Passive income using blockchain and AI

One of the first use cases for artificial intelligence was to execute trades on the U.S. mortgage-backed stock market by BlackRock, currently the world’s largest asset manager with assets under management. was $6.29 trillion in December 2017. BlackRock has come to where it is. giant state by using ALADDIN AI to manage risk for their clients. ALADDIN, which stands for Asset, Liability, Debt and Derivatives Investment Network, manages about $15 trillion in assets globally, representing about 7% of the world’s wealth.

Similarly, AI can be used to trade cryptocurrencies based on historical chart data and technical chart patterns. Humans are often not good at interpreting and acting on the signals of the trading market, often driven by emotions to execute trades. This is where AI can be useful for making unbiased trades based on audio data. One such AI-based cryptocurrency trading platform is Ethereum-based Autonio. The platform allows users to create their algorithm with 20 technical indicators (including RSI, MACD, EMA & Bollinger Bands), with coin pairing of their choice and also has a trading term from 1 hour up to 1 day. This is especially useful for beginners and intermediates as they can simply pick out the metrics they deem relevant and let the AI ​​make trades in their favor. As with any other form of investment, AI-based trading is not completely risk-free and it is important for investors to understand the level of risk they are willing to accept when investing. Therefore, AI-based trading makes more sense because in the long run, unbiased trade execution methods have been shown to perform better than emotion-based trading methods.

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Posts “How AI and Blockchain Can Help You Earn a Passive Income ?” posted by on 2022-07-19 02:51:20. Thank you for reading the article at BunnyTalk.org

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