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How artificial intelligence helps to improve the performance of blockchain networks

Team Bitcoin Daily

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Blockchain technologies are developing very actively. In recent years, the community has developed and refined the idea of ​​decentralized information networks. However, in this industry there are still a lot of opportunities and directions for the development and implementation of new ideas.

One such idea is the use of artificial intelligence. AI technologies, as well as virtual reality and quantum computing are the three most promising trends in the further technological evolution of our world. The development and use of these technologies will be able to open up previously unavailable opportunities for humanity. Therefore, the luminaries of blockchain, which is also the most advanced technology in the world of information and finance, cannot afford to ignore these promising directions.

The most popular and useful technology that can significantly improve the potential of the blockchain at the moment is artificial intelligence. And while many projects are calculating and planning ways to use AI in Blockchain, Libonomy has managed to create a successful symbiosis of these two ideas.

Libonomy is being developed as a framework for building any blockchain application. The team is led by three Swedish entrepreneurs – Richard Haverinen (CEO), Fredrik Johansson and Therese Johansson. With shared ideology in their minds, together they have spent the second half of last decade accumulating knowledge about decentralized technology and building an intelligent team around them. 

The new ecosystem will provide access to tools that will allow you to launch smart contracts in one click, create multi-currency wallets, launch DAPPs and DEXs, and also interact with various blockchains using interoperable technologies from Libonomy. A number of the main advantages of the new blockchain provide precisely the use of artificial intelligence for many important aspects of the functioning of the network. Among them:

  • Security and protection from hacker interference
  • Optimization and versatility for different tasks
  • Decision-making autonomy and scalability.

Below we will describe each use case for AI in the Libonomy blockchain in more detail.

AI and blockchain security

It’s no secret that blockchain networks have become the # 1 target for hackers. The fact is that gaining control over a decentralized network allows you to get cryptocurrencies or data from users’ wallets, which are essentially the same thing. This is why blockchain developers must prioritize the security and protection of their networks.

In order to protect itself from external interference, the Libonomy team decided to take an alternative path: instead of writing scripted scenarios for the network during an attack, the developers taught the network to defend itself on its own, constantly adapting to new hacking methods. This is where artificial intelligence came in handy, thanks to which Libonomy is constantly looking for vulnerabilities in its blockchain, fixing them and learning to prevent hacker attacks.

AI and blockchain versatility

Each blockchain was created for specific purposes. For example, Ethereum works great as a platform for startups or for launching smart contracts. Tron is good at speed and low cost of transactions, and Bitcoin still brings good profit to miners thanks to its network consensus protocol. 

But what about a person who needs to combine various advantages in a project? Is it really necessary to create a new blockchain from scratch? To solve this problem, the Libonomy developers integrated the AI ​​engine into the blockchain. Now, depending on the use cases, the self-learning system will regulate many network parameters, up to block size and throughput. And all this is completely autonomous.

AI and blockchain autonomy

Currently existing blockchains cannot work autonomously. This means that every decision, every action must be pre-foreseen and programmed. This significantly limits the potential of the technology, allowing it to function only under the conditions provided by the developers. But Libonomy has a different approach to this issue:

“We are enabling blockchain to make autonomous decisions in terms of distributing resources, upgrading and ensuring security on the basis of analyzing the system. That means that the system can live on it’s own without a need of constant monitoring”  — the project team comments on the results of the introduction of AI into the blockchain.

Thus, as you can see, the integration and mutually beneficial symbiosis of two advanced technologies leads to impressive results. Thanks to the proper attention and expertise in artificial intelligence technology, the Libonomy Blockchain team managed to create a completely new product that fully complies with the principles of decentralization.

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Hashdex Unveils Innovative Dual Crypto ETF Targeting Bitcoin and Ethereum

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Hashdex Unveils Innovative Dual Crypto ETF Targeting Bitcoin and Ethereum

In a strategic move to capitalize on the growing interest in cryptocurrency investments, Hashdex has announced its plan to launch a new Hashdex Nasdaq Crypto Index US ETF, which will track both Bitcoin (BTC) and Ethereum (ETH).

On Tuesday, Nasdaq published the 19b-4 application for this groundbreaking ETF, marking a significant development in the crypto investment landscape. Unlike traditional ETFs that focus on a single cryptocurrency, Hashdex’s new offering aims to provide exposure to the two largest digital assets by market capitalization simultaneously.

The decision comes shortly after the SEC’s approval of Bitcoin Spot ETFs earlier this year and amidst ongoing evaluations of various 19b-4 applications for Ethereum Spot ETFs in May. This move positions Hashdex uniquely in the market, allowing investors to benefit from the potential of both BTC and ETH in a single investment vehicle.

Bloomberg expert Seyffart weighed in on the announcement, noting that a dual BTC and ETH ETF from Hashdex, weighted by market capitalization, is a logical progression in the evolving ETF landscape. While Hashdex opted not to pursue an Ethereum Spot ETF application alongside other major issuers, their focus on a hybrid ETF underscores their commitment to innovation and strategic diversification.

According to the application, the Hashdex Nasdaq Crypto Index US ETF will include cash holdings but refrain from incorporating additional cryptocurrencies. If approved, custodianship will be entrusted to industry leaders Coinbase and BitGo, with the SEC’s final decision expected by March 2025.

This initiative marks a significant milestone as the first US spot ETF application encompassing more than one cryptocurrency. Current plans allocate approximately 74% of the ETF’s portfolio to Bitcoin and 26% to Ethereum, reflecting the respective market capitalizations of these digital assets.

While similar investment products are already available in Europe, such as Bitpanda’s Bitpanda Crypto Index 5/10/25, which tracks the largest cryptocurrencies by market cap, Hashdex’s dual crypto ETF aims to provide US investors with a novel opportunity to diversify their crypto holdings within a regulated framework.

In summary, Hashdex’s innovative approach to launching a dual BTC and ETH ETF underscores the increasing integration of cryptocurrencies into traditional financial markets. As regulatory approvals progress, this ETF could pave the way for broader acceptance and adoption of digital assets among institutional and retail investors alike.

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Ethereum Name Service (ENS): Riding High on Recent Innovations

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Ethereum Name Service (ENS): Riding High on Recent Innovations

The Ethereum Name Service (ENS) has emerged as a standout performer among the top 100 cryptocurrencies, thanks to recent advancements and a significant price surge.

ENS Price Surge and Innovations

In the past 24 hours alone, the price of Ethereum Name Service (ENS) has surged by 17%, marking it as one of the top performers in the altcoin market. This growth is part of a broader trend that has seen ENS rise by an impressive 29% over the past week, alongside other notable cryptocurrencies like Lido.

Multichain Expansion and Product Updates

One of the key drivers behind ENS’s recent price surge is its expansion beyond the Ethereum network. Previously limited to Ethereum-based addresses (.eth), ENS now allows users to link their addresses to public keys on other blockchains such as Bitcoin and Solana. This multichain capability has significantly enhanced the utility and interoperability of ENS, attracting increased interest from investors and users alike.

Future Plans and Community Governance

Looking ahead, ENS is poised to expand further by integrating with Ethereum Layer 2 networks, a move currently under consideration through a community vote in the ENS-DAO. This strategic initiative aims to leverage Layer 2 scalability solutions to enhance transaction speed and reduce costs, thereby improving overall user experience and adoption.

Technical Analysis and Price Targets

At its current price of $26.57, ENS is trading near its annual highs, reflecting strong bullish momentum. Analysts anticipate a potential breakout above key resistance levels, particularly the $27.42 to $28.94 range. A sustained move above these levels could propel ENS towards new annual highs above $30.50, with further upside potential towards the $38.34 to $41.78 range in the medium term.

Chart Technical Outlook

Chart analysts highlight the importance of overcoming resistance levels, particularly the critical hurdle at the December 2021 high. Successful breaches of these levels could pave the way for ENS to target higher price zones, potentially reaching levels around the Golden Pocket at $54.22 and beyond.

Market Sentiment and Strategic Positioning

The recent performance of ENS underscores its appeal as a strategic bet on Ethereum’s ecosystem growth. As Ethereum explores new market opportunities, including the potential introduction of spot ETFs, ENS stands to benefit from increased adoption and investor confidence in blockchain innovations.

Conclusion

With its recent price surge and strategic innovations, Ethereum Name Service (ENS) continues to demonstrate its potential as a leading player in blockchain-based naming services. As it expands across multiple blockchains and enhances its technical capabilities, ENS remains well-positioned to capitalize on the evolving landscape of decentralized applications and digital asset management. Investors and enthusiasts alike are closely watching ENS as it navigates towards new milestones and broader market acceptance in the coming months.

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Blockchain in Healthcare: Germany’s Struggle to Embrace Innovation

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Blockchain in Healthcare: Germany's Struggle to Embrace Innovation

Blockchain technology holds immense promise for revolutionizing healthcare by enhancing data security, transparency, and patient control. However, despite its potential benefits, Germany lags behind in adopting blockchain solutions within its healthcare system.

Potential Benefits of Blockchain in Healthcare

Blockchain technology offers several advantages that could significantly benefit the healthcare sector:

  1. Enhanced Data Security: Blockchain provides a decentralized and tamper-proof ledger system, ensuring the security and integrity of sensitive patient data. This can prevent data breaches and unauthorized access, addressing one of the primary concerns in healthcare.
  2. Improved Transparency: The transparent nature of blockchain allows for enhanced traceability of medical records, pharmaceuticals, and supply chains. It can verify the authenticity of medications and streamline regulatory compliance.
  3. Patient Empowerment: Blockchain enables patients to have greater control over their health data. They can securely share their medical records with healthcare providers as needed, promoting personalized and efficient care delivery.
  4. Facilitating Research: Blockchain’s ability to securely store and share data can accelerate biomedical research and clinical trials. It simplifies data sharing among researchers while maintaining patient confidentiality and consent.

Current State of Blockchain Adoption in Germany

Despite the potential benefits, Germany has been slow to integrate blockchain technology into its healthcare infrastructure. Several factors contribute to this lag:

  1. Regulatory Challenges: The heavily regulated nature of the German healthcare system poses significant barriers to innovation. Startups and innovators face bureaucratic hurdles and stringent compliance requirements, discouraging them from developing and implementing blockchain solutions.
  2. Data Protection Concerns: The General Data Protection Regulation (GDPR) in the European Union sets high standards for data protection and privacy. Blockchain’s inherent transparency and immutability can sometimes conflict with GDPR principles, such as the right to be forgotten and data minimization. Achieving compliance while harnessing blockchain’s benefits remains a challenge.
  3. Perception and Awareness: Public perception of blockchain technology, often associated with cryptocurrencies and energy consumption concerns, also impacts its acceptance in healthcare. Healthcare decision-makers may harbor skepticism due to these associations, hindering widespread adoption.

Initiatives and Challenges

Germany has seen some promising initiatives despite these challenges:

  • Pilot Projects: Initiatives like the DECADE project in cancer research and blockchain-based solutions in pharmaceutical supply chains by companies like Merck and Gerresheimer demonstrate initial steps towards blockchain integration. However, these projects remain isolated and experimental.
  • Regulatory Frameworks: The Federal Ministry of Health has shown interest in blockchain through workshops and pilot project funding. However, translating these initiatives into scalable and integrated solutions across the healthcare sector remains a formidable task.

Overcoming Challenges and Moving Forward

To overcome these challenges and unlock blockchain’s potential in healthcare, several actions are essential:

  1. Collaboration and Education: Close collaboration between technology developers, regulators, and healthcare stakeholders is crucial. Education on blockchain’s benefits and how it can align with GDPR requirements is necessary to build trust and support.
  2. Investment in Research and Development: Targeted investments in research, technology infrastructure, and data protection-friendly innovations are needed. This includes modernizing IT systems and developing interoperable solutions that integrate seamlessly with existing healthcare frameworks.
  3. Policy Support: Policymakers must create a conducive regulatory environment that balances innovation with data protection standards. Streamlining approval processes and providing incentives for blockchain adoption can spur innovation in healthcare.

Conclusion

Blockchain technology holds transformative potential for healthcare in Germany, offering solutions to longstanding challenges in data security, transparency, and patient empowerment. However, realizing this potential requires overcoming regulatory hurdles, addressing data protection concerns, and fostering a supportive ecosystem for innovation.

By navigating these challenges and embracing blockchain’s capabilities, Germany can position itself as a leader in developing secure, transparent, and patient-centric healthcare solutions for the future. The journey towards blockchain integration in healthcare may be complex, but the rewards in terms of improved patient outcomes and operational efficiencies make it a journey worth pursuing.

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