Blockchains have emerged as the hottest topics in the IT industry, in the financial world, and among entrepreneurs. Blockchain, the technology that underlies cryptocurrencies like Bitcoin, has been heralded as a game-changer for both individuals and organizations. Blockchain’s most revolutionary impact may be its ability to store and verify data in a secure and incorruptible manner. In this blog, we explore the use of blockchain technology for more than just trading cryptocurrencies. As the blockchain technology has entered the mainstream of computer applications, it has fundamentally changed the world of Internet transactions by facilitating trust between unknown parties. Blockchains used only for buying and selling bitcoins have now become the foundation of a myriad of new computer applications.
A disruptive technology, blockchain will lay the foundation for a decentralized future for nations and all its components. However, the way blockchain is being applied and used has substantial environmental and energy impacts. Due to the blockchain technology’s encryption feature and consensus mechanism, all users must obtain permission in order to write to the chain. This safety feature is a result of the process at the core of blockchain technology.
Since each of these requirements requires sophisticated algorithms and enormous computing power, it is one of the key challenges facing blockchain in the future. As the computing power needed to run today’s blockchain applications is not sustainable, it is a critical issue facing the future of blockchain.
An increased need for computing power
As a result, there is a visible need for more computing power not only because of blockchain and artificial intelligence, but because all existing and emerging technologies are accelerating global computing power consumption.
The rise of technologies like artificial intelligence, machine learning, blockchain, and the internet of things requires significant computing power so it is imperative not only to process computation more efficiently but also to adapt both hardware and software to meet this demand.
There is a clear need to move away from traditional blockchain chips to more energy-efficient, scalable, and sustainable ones. What are the current blockchain initiatives doing to adapt to the changing environment?
Neuromorphic Computing Chips
By doing all of the processing and functioning in the chips themselves, rather than having them communicate with massive servers and clouds, and by being event-driven, neuromorphic computing may solve the ongoing problem of computing power. Neuromorphic computing is likely to bring much needed energy efficiency and computing power increases.
Using neuromorphic computing chips to develop low energy cryptocurrency and distributed systems will pave the way for the future of artificial intelligence and the blockchain. This brings us to an important question: how are nations preparing for how neuromorphic computing will shape the future of blockchain and artificial intelligence?
As we have seen over the years, computing and software have experienced tremendous advances, but they have mainly focused on software rather than hardware. The development and implementation of neuromorphic chip technology will enable us not only to increase machine intelligence, but also to provide a sustainable model for the future of blockchain and decentralized computing. Blockchain as well as artificial intelligence seem to have a future together with this evolving computing power, which seems to make them reliable and sustainable.
Watch this video to know more on the future of block chain and AI.
In our view, the questions of tomorrow are being answered today, and nothing can distract us from the amazing progress of neural networks in accelerating the scalability, sustainability, and security of blockchain and AI. Now is the time to think about the future of mankind.