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Artificial intelligence and blockchain: A review

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Abstract and Figures

It is irrefutable that blockchain and artificial intelligence (AI) paradigms are spreading at an incredible rate. The two paradigms have distinctive level of innovative nature and multidimensional business propositions. Blockchain innovation can robotize instalments to grant a way for exchanging personal records, information, and logs in a secure, and decentralized manner and can be revealed digitally in the digital currency era. As of late, blockchain and AI are two of the most trending technologies. Blockchain can administer connections among members with no mediator via smart contracts. AI, then, offers insight and dynamic capacities for machines just like people. In this survey, we provide a comprehensive overview about the applications of AI in blockchain. We audit, and sum up the rise of blockchain applications, and stages explicitly focusing on the AI research area. We likewise recognize and summarize open challenges in using blockchain and AI techniques. We also classify the effect of the cloud with these two innovations with respect to the computerized economy, which includes Blockchain as a Cloud and Blockchain as a Service. We moreover survey difficulties and issues identified while provisioning these technologies. It has been found that the integration of AI and blockchain is trusted to make various prospects. Such techniques provide scientists and authorities with an accuracy of up to 90% when taken properly into consideration. Emerging trends worldwide.
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Received: 7 November 2020 Revised: 23 December 2020 Accepted: 8 March 2021
DOI: 10.1002/ett.4268
RESEARCH ARTICLE
Artificial intelligence and blockchain: A review
Adedoyin A. Hussain1,2 Fadi Al-Turjman2,3
1Computer Engineering Department,
Near East University, Nicosia, Mersin 10,
Turkey
2Research Centre for AI and IoT, Near East
University, Nicosia, Mersin 10, Turkey
3Artificial Intelligence Engineering Dept.,
Near East University, Nicosia, Mersin 10,
Turkey
Correspondence
Adedoyin Ahmed Hussain, Computer
Engineering Department, Near East
University, Nicosia, Mersin 10, Turkey.
Email: hussaindoyin@gmail.com
Abstract
It is irrefutable that blockchain and artificial intelligence (AI) paradigms are
spreading at an incredible rate. The two paradigms have distinctive level of inno-
vative nature and multidimensional business propositions. Blockchain innova-
tion can robotize instalments to grant a way for exchanging personal records,
information, and logs in a secure, and decentralized manner and can be revealed
digitally in the digital currency era. As of late, blockchain and AI are two of
the most trending technologies. Blockchain can administer connections among
members with no mediator via smart contracts. AI, then, offers insight and
dynamic capacities for machines just like people. In this survey, we provide a
comprehensive overview about the applications of AI in blockchain. We audit,
and sum up the rise of blockchain applications, and stages explicitly focusing
on the AI research area. We likewise recognize and summarize open challenges
in using blockchain and AI techniques. We also classify the effect of the cloud
with these two innovations with respect to the computerized economy, which
includes Blockchain as a Cloud and Blockchain as a Service. We moreover sur-
vey difficulties and issues identified while provisioning these technologies. It has
been found that the integration of AI and blockchain is trusted to make various
prospects. Such techniques provide scientists and authorities with an accuracy
of up to 90% when taken properly into consideration.
1INTRODUCTION
The blockchain is one of the many advertised advancements nowadays, and it has been increasing a great deal of foothold
as a flat innovation to be broadly received in different fields.1-3 Since its commencement in the ’20s, blockchain kept
on rising as a problematic development that will change how we collaborate, robotize installments, follow, and track
exchanges.4Blockchain can be exceptionally practical in taking out the requirement for an incorporated position to
administer and check cooperations and exchanges among a few members. In the blockchain, each exchange is marked
cryptographically and confirmed by all mining hubs. This cannot be changed and it makes a synchronized, safe, and
shared timestamped records.5A similar conspicuous field that is increasing tremendous foothold in artificial intelligence
(AI) that permits a machine in having psychological capacities to understand, surmise, and adjust dependent on infor-
mation it gathers. Ongoing statistical surveying foresees that the AI industry will grow as much as 13 trillion U.S. dollars
constantly in 2030.
Even though there are many contending advancements that attempt to insusceptible information in shrewd homes
over assaults.6Blockchain development as presumably the most encouraging for guaranteeing the home system over
control assaults on locked information and granting a protected stage to all the gadgets in the system to communicate with
Trans Emerging Tel Tech. 2021;32:e4268. wileyonlinelibrary.com/journal/ett © 2021 John Wiley & Sons, Ltd. 1of26
https://doi.org/10.1002/ett.4268
... Many scholars believe AI can provide robots with human-like intelligence and dynamic capabilities. Additionally, AI can be integrated with blockchain technology in many applications, resulting in up to 90% accuracy when used correctly (Hussain et al., 2021). ...
... Some scholars believe that merging AI with blockchain technology offers new prospects for creating innovative business models through digitalization (Xuan & Ness, 2023). Some scholars perceive the effective integration of AI with Blockchain as presenting ongoing research problems, such as scalability, interoperability, and the creation of robust consensus processes (Salah et al., 2019;Hussain et al., 2021). ...
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... AI's role in a wide range of areas, from rapid verification of transactions to prioritizing transactions, has the potential to significantly improve system performance when combined with the operational efficiency of blockchain. The symbiotic combination of AI and blockchain technology offers new opportunities and potential benefits, ready to transform and drive innovation across a wide range of industries [71,72]. Figure 4 shows the individual technological elements of blockchain and artificial intelligence and some of the technology areas that can benefit from the convergence of the two. ...
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... The scatter plot vividly demonstrates the detection of anomalies marked in red against the backdrop of normal traffic, represented by blue stars in Figure 1. These anomalies, potentially indicative of cyber threats or fraudulent activities within the e-voting system, are identified through artificial intelligence algorithms designed for pattern recognition and outlier detection [7]. Upon the identification of such anomalies, the corresponding data is subjected to a deeper scrutiny process involving blockchain's immutable ledger. ...
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