Blockchain and Artificial Intelligence

1. What is Blockchain?

• Blockchain is a distributed database existing on multiple computers at the same time.
• It is constantly growing as new sets of recordings, or 'blocks', are added to it.
• Each block contains a timestamp and a link to the previous block, so they actually form a chain.

• Blockchain doesn't exist. Or that blockchain has two totally different meanings. Or that blockchain is a name given to three totally different things.
• A blockchain is a very inefficient database most famously implemented as one of several parts required for the Bitcoin.

2. How does a block chain work?

• It works with Blocks, whereas spreadsheet works with “rows” and “columns”.
• A block in a blockchain is a collection of data. ... Blockchain is a distributed ledger, which simply means that a ledger is spread across the network among all peers in the network, and each peer holds a copy of the complete ledger.

3. What is Blockchain example?

• A Blockchain is a chain of blocks which contain information.
• The data which is stored inside a block depends on the type of blockchain.
• For Example, A Bitcoin Block contains information about the Sender, Receiver, number of bitcoins to be transferred. The first block in the chain is called the Genesis block.

4. What can you do with Blockchain?

• Blockchain is the digital, distributed, and decentralized ledger underlying most virtual currencies that's responsible for logging all transactions without the need for a financial intermediary, such as a bank.
• In other words, it's a new means of transmitting funds and/or logging information.

5. Why do we need a Blockchain?

• Blockchain advocates assert that a public ledger voting system could provide an unhackable system for governments while also counting the votes way faster.
• Businesses are starting to adopt blockchain systems more and more because it makes transactions faster, cheaper, and more efficient.

6. What is the difference between AI and Blockchain?

• Artificial Intelligence- The abstract concept that machines or computers can behave in an intelligent human like way. It can think like a human, and perform mundane tasks like driving cars, classifying images, voice recognition, natural language processing, etc etc.

• Machine Learning- Machine Learning is the study of Algorithms and Statistical models that help the computer or machine to learn from data without being programmed for it, i.e say instead of programming a computer explicitly to recognize an image we provide a lot of data(images to it) and it learns to classify them on its own by developing a model from that data. The study of these algorithms and models is called machine learning. And most of these algorithms and models are not something exclusive to Machine Learning, many of these models/algorithms are taken from statistics like K - Nearest Neighbors, PCA(Principal Component Analysis), Linear Regression etc.

• BlockChain-As the name suggests is just a chain of blocks in which each block is connected to the block previous to it and this goes on till the first(genesis block). These creates a structure that is very difficult to tamper with because if someone tries doing so, there will be a sort of inconsistency in the blockchain which can be easily checked by anyone. In short, It is a distributed ledger or a distributed database from which the data cannot be removed or tampered.

• Both blockchain and A.I. ... Blockchain is essentially a distributed ledger,that stores data in an encrypted, nigh immutable format.
• Whereas A.I. is a term used to describe a machine capable of performing tasks that seemingly require intelligence. For the most part, most A.I.

7. How can AI be used in a Blockchain?

• “Blockchain has the potential to break down today's data oligopoly through individual ownership and control of data.
• In the same sense, AI can boost blockchain, as some of the most compelling use-cases and early-stage applications of blockchain technology is for AI

8. What happens when you combine Blockchain and machine learning?

• The blockchain is designed specifically to accelerate and simplify the process of how transactions are recorded.
• This means that any type of asset can be transparently transacted using this completely decentralized system.

9. Is Blockchain the next Internet?

• The blockchain is essentially a new form of the internet.
• The two terms are not synonymous.
•  Blockchain technology will power Web 3.0, which I will refer to as 'the new Internet'.
• A digital currency is a great proof of concept for blockchain technology, but quite frankly, it is one of the least interesting.

10. What is Blockchain Internet?

• The blockchain is an undeniably ingenious invention – the brainchild of a person or group of people known by the pseudonym, Satoshi Nakamoto.
• By allowing digital information to be distributed but not copied, blockchain technology created the backbone of a new type of internet.