Web3 CEO Outlines Bitcoin’s Role in AI Data Validation
In a world where artificial intelligence is rapidly evolving and the average user cannot trust the authenticity of the images, files, programs and content they see online, the Bitcoin network could hold the key to providing a layer of data authentication. 21st century. Block co-founder and CEO Jeff Garzik recently sat down with Cointelegraph to discuss how Bitcoin can solve the problem.
The CEO began the discussion by explaining that there is currently a lot of AI “noise” associated with Signals – meaning that there is a lot of AI-based information and AI-generated content on the Internet that tries to crowd out trusted and authentic sources. Information. The difficulty of knowing whether this piece of information is accurate or not becomes increasingly difficult.
According to Garzik, data authentication will play an even bigger role in the future as AI agents become more widespread. Block's co-founder gave an example of an AI agent that autonomously manages and trades crypto assets on behalf of a human investor, requiring only minimal input from a human user for verification.
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The Bitcoin network as a data anchor layer
Block's co-founder proposed “anchoring” data—the process of verifying the origin of data onchain using the blockchain network—as a solution to this growing problem for the Bitcoin network. Garzik explained why Bitcoin has an advantage over other networks in this regard.
“The Bitcoin blockchain could be in the next ten years – the most secure blockchain on the planet, bar none. That's where you want to put your data.”
Garzik argued that many blockchain networks with high transactions per second “cut off” ledger data after a certain period of time – which makes them poor solutions for data integrity, which requires that synchronized data be maintained permanently.
Research from MIT, Harvard and the Media Lab highlights the importance of data accuracy in the age of AI. Source: Markepost
Avoiding network congestion using layer-2 solution
Linking data directly to the Bitcoin base layer can cause Bitcoin transaction fees to rise due to network congestion. Earlier this year, the mania surrounding Bitcoin Runes and Ordinals mints led to calls for Layer-2 solutions to ease network congestion.
Hemi—Bitcoin's layer-2 network led by Garzik and Block's team alleviates the problem of network bloat because Hemi is handling most of the network traffic and leveraging Bitcoin's base layer security and decentralization for final settlement. The CEO offered a clever example of why layer-2 solutions are critical:
“The analogy I have is the champagne fountains you see in hotels, the champagne fountains you see at wedding receptions. L1 that champagne glass is at the very top, and you start pouring champagne and eventually it drips.”
Garzik concluded by stating that the interaction between Bitcoin L2s and the Bitcoin base layer would benefit Bitcoiners by reducing transaction fees while maintaining the high security features of the base layer.
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