Artificial Intelligence will be the biggest thread along with memecoins in 2023. ChatGPT has taken the world by storm, and with it, this emerging technology has been brought to the forefront of mainstream attention.
Everyone seems to have an opinion on AI, and the cryptocurrency industry is no exception. Many projects that include some form of this in their roadmap have seen explosive growth. And, of course, as is almost always the case with crypto – even if they don’t use AI but it’s in their name – growth follows, albeit temporarily.
With this in mind, we decided to dig a little deeper and see what the next emerging technology could impact crypto like AI does. More importantly, we decided to talk to ChatGPT about it.
Here are its thoughts on the top 4 emerging technologies (besides AI) that will most impact crypto in the next 5 years.
ChatGPT Sees Quantum Computing as a Dirty Crypto
First of all, remember that a “boom” is literally used as a synonym for an explosion, and outside of the figurative use of the word, it is usually associated with destruction.
As such, ChatGPT’s first prediction was that quantum computing would pose a security threat to traditional cryptographic algorithms.
As quantum computers become more powerful, they can break the cryptographic mechanisms used in cryptocurrencies, compromising their security. This has led to continued research into quantum-resistant cryptohgraphic algorithms and the development of post-quantum cryptography to protect cryptocurrencies in the future.
It may go without saying, but it’s been a topic of debate for years now, and both sides have some pretty valid arguments. The downside for those who argue that a quantum computer could be the end of Bitcoin is that it does not have many variables, such as the motivation behind a work like this, the potential competition between many computers which quantum works against each other to solve the algorithm. first, the energy required to do it, and more.
Of course, in theory, a supercomputer working outside the constraints of 1s and 0s could crack Bitcoin, but there’s more to it.
Back to the Roots with Privacy Preserving Technologies
Before all the fame and glory and the multi-billion capital of random frog-based memecoins, this industry was mostly about cryptography and the privacy that comes with it.
ChatGPT thinks we’re going back to where we came from.
Privacy is a key concern in the crypto industry. Technologies such as zero-knowledge proofs (ZKPs), secure multiy-party computation (MPC), and homomorphic encryption hold promise for improving privacy in blockchain technologies.
The chatbot argues that these technologies allow private and secure calculations and enable users to prove knowledge of certain information without having to disclose the information itself. For example, I can show you proof that I have a driver’s license without having to show you my driver’s license.
These are solutions that are actively being developed. In fact, we spent a lot of time talking with StarkWare’s PM, Gal Ron, about what zK-Proofs is and if it’s the future of scaling.
Interoperability Protocols Arrive as Number Three
Interoperability is not just a buzzword in the ChatGPT dictionary but an emerging technology that could be the catalyst for the industry’s next big breakthrough.
Interoperability protocols aim to facilitate seamless communication and data transfer between different blockchain networks. Currently, most cryptocurrencies and blockchain platforms operate in silos, limiting their interoperability and hindering the flow of value and information across the network.
According to the AI language model, solutions in this field, including cross-chain bridges, sidechains, and interoperability-focused networks, have the potential to transfer data across multiple blockchains and develop more great liquidity.
Last but NOT Least: Scalability Solutions
Naturally, scalability solutions also make the cut on ChatGPT’s list, mostly because it sees scalability as one of the biggest challenges for many networks, especially when it comes to handling large numbers of transactions. effective and quick.
Emerging scalability solutions, such as layer 2 soultions aim to solve these issues by offloading transactions or data to the second layers of dividing the blockchain into smaller partitions.
ChatGPT believes these solutions have the potential to improve transaction throughput while also improving performance and reducing fees.
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