Here’s why AI companies are betting on Cardano for long-term gains
The Cardano network’s heightened development over the past few months has been marked with several important partnerships. Among them is also the field of Artificial Intelligence (AI), a sector that can benefit greatly from blockchains.
According to AI researcher Dr. Ben Goertzel, Cardano’s development arm IOHK is ‘very thorough and careful’ when it comes to software testing and implementation. Despite it not being ‘the fastest in the industry.’
Goertzel’s company SingularityNET, which works at combining AI and blockchain technology, is leveraging the Cardano blockchain to develop an ERC-20 convertor. It will aid the migration of ERC-20 tokens from Ethereum to the Cardano blockchain. Noting the reason behind choosing Cardano as its partner, the researcher noted,
“Looking through Hydra math and code definitely reminds me why we’ve chosen Cardano as a partner. This stuff is built like a spacecraft that has to keep running smoothly with only minor adjustments in harsh and unpredictable conditions … whereas some other well-known blockchains, I’d have to say, are built more like a 1971 Ford Pinto”
He did note that the testnet converter ‘is not optimal in all ways’ as it has continued to have some issues related to centralization. However, a fully decentralized Plutus-based converter is also in the pipeline, Goertzel added.
Another innovative AI-related project that Cardano has dipped its toes in is called Grace. It is a humanoid nurse designed to cater to both eldercare and general healthcare. This project too has been in collaboration with SingularityNET, which hopes that using Cardano for the humanoid’s functioning will boost its performance and reduce the time to process biodata.
Recently, Cardano has made raves in multiple
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