AI technology is gaining fast entry in several systems, and cryptocurrency isn’t left out. AI algorithms have been reasonably efficient in the banking system, but the recent improvement on AI will foster many transformations to systems, especially in cryptocurrency. It will enable traders to constantly manage common manipulations existing in the crypto market. Let’s delve more into this application of AI.
AI technology can effectively be adapted to make a forecast about an asset, predicting its future value. NeuroBot and Argur platforms in analyzing crypto asset, utilize Artificial Technology with information about crypto exchange rate to make clear-cut price forecasts.
This technology demonstrates the potential to advise investors and increase the investment rate on a cryptocurrency, since it retains the capacity to deliver an outlook for a crypto asset.
AI is equally effective in conducting transactions on the crypto market. However, unfamiliar traders might not be to its use because of high market volatility. For persons with AI understanding in the crypto world, it eliminates uncertainty and directly determines associated risk in cryptocurrency trading such that losses are reduced to the barest minimum.
The technology also accommodates the need of high-risk investors, who are able to invest totally. Here, AI practically eliminates the probability of losing money via the precise forecasts which are nearly 100%. This tool is additionally imperative for beginners in the field. With it, they can achieve a comprehensive market analysis to inform and direct their investment choices, even when lacking in financial knowledge.
Assessing community mood
AI application has equally obtained good use in determining the behavioral patterns in the crypto space. The algorithmic crypto-asset manager, Napoleon X, is presently being used for this purpose. It collects data about the “emotional state of investors and markets mood.”
Crypto speculations are still in existence since the market is at its developmental stages. AI’s effective use in this regard to conduct sentiment analysis would be the miracle the community needs, as it will benefit the industry by providing answers bordering a future turn in the crypto world. This happens as the crypto community is rather guided by emotions and economic data.
This AI system is able to show various emotions in the crypto market ranging from sadness, excitement, surprise anger and fear rather than just stating either a positive or negative emotion. Some available AI bots provide this information free to users, especially for Bitcoin and Ethereum, the largest digital coins.
Additionally, these emotions provided by AI systems can gather data from media or social sources delivering a different outcome for the crypto-trader. These collected data are able to provide predictions about how volatile the market will be.
For example, a highly positive sentiment data will likely reveal the volatility of the market. “When it comes to opinions, there are only two options for crypto bulls and crypto bears.”
Platforms utilizing AI
A China-based blockchain platform Matrix AI (MAN) is an eminent platform that conveniently makes use of Artificial Intelligence for security augmentation through the use of mechanized “auditing and self-optimization.” The network is effective to cover about 50,000 transactions per second, also its TPS rate is anticipated to surge up to one mln forthcoming.
Matrix’s mainstream acceptance can be facilitated by its capability to produce smart contracts in innate language. This attribute makes the system more available to anyone. It also reduces the need to learn programming languages required by blockchain technology (“only 20 mln out seven bln people have extensive programming skills”).
With the China-based blockchain platform, Chinese and English or other languages can be conveniently converted into programming one with the help of a code generator.
Presently, the Matrix AI is sold at a low price of $0.37, but there are speculations that the revolutionizing technology will surge in the future and become the “next 1,000 percent ICO.” The platform has an impressive team of developers, especially from Google and Microsoft.
Employing Artificial Intelligence Developers
Building up an excellent team of developers will help create AI technology for any platform. KickCoin (KICK) has invested more in developing this AI technology, even though they are among the top 150 coins by market cap. KICK is a Blockchain-based platform that arranges fundraising events (ICO, pre-ICO). The cost of this platform is as low as $0.104, but as crypto crowdfunding becomes prevalent, the price is expected to go high. And with more use of AI, “KickCoin may significantly improve its positions.”
The new Blockchain project “U.Community” which is still in the initial stage of development is another platform utilizing AI technology. The project is designed to cover cryptocurrency exchange along with AI-powered instruments for market analysis.