- Generative AI allows the automation of smart contract execution.
- Generative AI enables developers to find and rectify coding errors.
Generative AI’s Impact on Blockchain – ChatGPT
Ever since OpenAI launched ChatGPT, people have learned about the reality of AI and what it’s capable of. Due to this, AI is being adopted across industries to automate tasks and minimize human error. AI is being used to perform tasks like solving queries, content creation, coding, and more.
The level of hype around AI is reminding me of the excitement that blockchain-based decentralized ledger technology brought with it at the time of its inception in the last decade.
Major tech players like Google are threatened by AI as it could disrupt the search engine scenario and with it, destroy Google’s largest source of business. Innovators are deeply researching generative AI to find out about its capabilities.
People don’t talk much about generative AI’s impact on blockchain technology, however, there are certain areas where it could have a great impact.
Improvement In Smart Contracts
One of the most beneficial innovations in the blockchain space, smart contracts enable automatic contract execution without the involvement of middlemen. ChatGPT is the ideal tool for it, although there is still potential for development.
Using ChatGPT natural language to write smart contract code can greatly minimize the risk of error. Developers may give ChatGPT genuine coding tasks; all they need to do is specify the code and hand it off to ChatGPT. This expedites the procedure, lowers the possibility of mistakes, and raises the contract’s general quality.
Moreover, by employing ChatGPT’s natural language, developers can check for mistakes in the current code, and rectify them with the same natural language.
Automating Smart Contract Execution
ChatGPT is capable of automating smart contract execution by analyzing contract data and rectifying errors in the code. ChatGPT can send alerts to developers to take the necessary measures to maintain minimum errors, and enhance accuracy, and speed.
Moreover, ChatGPT can also analyze trends in smart contracts and provide plausible suggestions to improve contract quality, increase execution speed, and reduce gas fees.
Safe Blockchain Transactions
We know the level of security blockchain technology provides, being immutable, decentralized, and whatnot, but it’s not invincible. Blockchain technology does face some shortcomings, however, those can be dealt with with the use of generative AI. ChatGPT can be used to minimize these risks and make it safe to use.
What ChatGPT does to detect unsolicited activities is analyze the network traffic and scan it for unusual activity, hacking attempts, or other technical malice. Moreover, ChatGPT can monitor social media networks to unearth potential threats and attacks.
Additionally, ChatGPT can also identify patterns that may signal potential threats by analyzing the network and informing the network administrator of these vulnerabilities in the hope of getting them fixed.
Future Of Generative AI In Blockchain Technology
As we discussed AI’s potential in multiple blockchain use cases, it is certain that AI Revolution- Generative AI is Ready to Disrupt Blockchain Moreover, by employing generative AI, developers can streamline and automate smart contracts.