The rapid rise of ChatGPT from Open AI has been truly remarkable, with the AI-based platform reaching 100 million users in just 2 months of its launch. ChatGPT had recorded an impressive 590 million global visits as of January this year.
Alongside AI, blockchain is also a disruptive technology gaining increasing adoption. Since the publication of Bitcoin’s white paper in 2008, decentralized protocols, business models, and decentralized applications (dApps) have obtained market traction and matured. While much work is still required to advance these technologies, the areas where they converge show exciting promise.
Although there is much hype around AI, creating a solid data infrastructure on the back end is critical for enabling meaningful AI. Storing and sharing low-quality data inefficiently can result in poor insights from the intelligence layer.
Therefore, taking a holistic view of the data value chain is important to identify what is needed to obtain AI applications and the highest-quality data that use blockchain. A crucial query that arises is how Web3 technologies can effectively integrate with artificial intelligence (AI) to enhance areas such as data transfers, data storage, and data intelligence.
Decentralized Database Storage And Decentralized AI
Understanding why decentralized database storage is crucial for the decentralized AI’s future is essential. As more blockchain applications expand, any form of centralization could become a liability.
A blockchain project could experience regulatory clampdowns, infrastructure problems, or governance breakdowns if it becomes centralized. For example, Ethereum’s Merge could have touched the chain with a centralization vector.
Some industry analysts argue that major exchanges and platforms like Coinbase and Lido, significant shareholders of Ethereum’s staking market, have made it more centralized.
Another centralization vector for Ethereum (ETH) centralization vector is its dependency on Amazon Web Services cloud storage. As a result, several blockchain apps’ processing power and storage must remain decentralized as time goes on to reduce single-point failure.
Thus, decentralized storage projects can contribute to providing scalability, ecosystem, and stability. The basic principle behind decentralized storage involves utilizing multiple computers and servers globally to keep a document.
Essentially, the document is broken up, encrypted, then stored on separate servers. But only the document’s owner can access the private key needed for data retrieval.
Upon retrieval, an algorithm pulls together the distinctive parts to showcase the document to the consumer. Crust, Arweave, Sia, Filecoin, and StorJ are prominent projects in the decentralized storage market.