NUGENESIS: THE FUTURE OF THE BLOCKCHAIN
In this article I will be talking about NUCOIN, which is the first decentralised blockchain inspired by artificial intelligence, but before we go into that there is some background knowledge that will be required to fully grasp the innovation that is NUCOIN.
BLOCKCHAIN
So the blockchain is basically a link of interconnected, chain of computers that serve as a digital ledger to record transactions. The information is duplicated and distributed among all the computers across the entire chain of them that make up the blockchain, this makes it impossible to hack, change or cheat the system in any way.
To add new blocks to the chain, two main systems are used, Proof of Work (POW) or Proof of Stake (POS), POW is the consensus system used by the Bitcoin blockchain, while POS is used by the Terra blockchain, the ones that add new blocks to the POW chains are called “miners” since they have to complete complex tasks that require large computing power, hence the “work” in Proof of Work, while in blockchains that use POS the ones that add new blocks to the chain are called validators, since all they need to do to add new blocks is stake a large amount of the blockchains negative tokens.
If you have been following along you might have noticed that the common thing both Proof of Work and Proof of Stake have in common is that both of them whether they are called validators or miners is that they make use of humans to add new blocks to the chain, although the requirements do mean it is harder for their to be miners or validators that have nefarious intentions it is still not impossible.
Another thing that makes POW even more unsustainable, is the carbon footprint it’s miners leave behind, because the amount of computing hardware required to complete the work required to mine is heavy, the amount of power consumed is extremely high, if mining wants to be done profitably traditional sources of power are used, fossil fuel or nuclear which are both bad for the environment, and to use green sources of energy is just too expensive to make it a viable option.
THE NUCOIN BLOCKCHAIN
That is where NUCOIN comes in, to make a blockchain that is more secure than Proof of Work or Proof of Stake, and make it carbon neutral in its efficiency, they replaced the human validators and miners with ARTIFICIAL INTELLIGENCE.
What led them to use Artificial Intelligence in their blockchain you might ask, well it was originally built for Government and Transactional applications. In their aim to build a blockchain for Central Bank Digital Currencies (CBDC’s) and an exchange clearing house for settlements, they needed to create a blockchain that surpassed the current limitations to scaling and the speed of transactions, that its security level was nigh on infallible and its integrity not underscored by human failings, and this gave birth to the use of Artificial Intelligence. This also led to the happy byproduct of the blockchain being carbon neutral in its efficiency.
So from the first glimpse these are the advantages that the NUCOIN blockchain is offering:
- Heightened security and integrity of the blockchain since the fallibility of human validators and miners has been removed from the equation.
- Increase to the speed and number of transactions able to be carried out on the NUCOIN blockchain
- This is the most important to me, the carbon neutrality of the NUCOIN blockchain, since the high energy consuming consensus mechanisms of Proof of Work has been removed from the equation.
It is obvious that NUCOIN has achieved its aim of making a blockchain that is conducive for Central Bank Digital Currencies (CBDC’s), but with all technologies made for the government or the military it will also have major values for the whole human population as a whole.
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