Application Of Machine Learning in the Crypto World

in GEMS9 months ago (edited)

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Cryto is the new meta of this era which has got even more interesting in the year 2021. The biggest coins Bitcoin and Etherium reached their ath(all-time high) this year . The blockchain tech also has been applied to various fields in cyber security and many other applications have been developed based on it.
Like any tech, this too has a few drawbacks in security and efficiency which can be overcome by utilising machine learning.

✔️ML Utilised in trading

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Trading crypto has become a viral activity among investors and financial institutions. Usually bots are used in trading for generating many "small profits" these have embedded ML algorithm within them. Ml system's are also utilised in trading system at cryto currency market.
Reinforcement Learning is one of type of machine learning. Here Reinforcement learning is use to train the program to developing an optimised way to gaining Rewards within the environment. Its i a viable approach to develop crypto currency strategy which are profitable and adaptive.

✔️ML Utilised in Mining ⛏️

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If you want to know how exactly does Bitcoin mining work you can checkout one of my previous blog : https://steemit.com/hive-175254/@the-prithvi/bitcoin-mining . Its basically where the computer tries to guess and hexadecimal code in oder to improvise security , here the miners are rewarded with tokens . The purpose of Bitcoin mining is to update the blockchain with the pending transaction.
Machine learning model known as reinforcement learning was applied in mining too and much better results were seen on comparison to normal mining strategies.

✔️ML used in tracking Crypto Jacking

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Another application of machine learning in the crypto ⛏️ is based on security. The government and many research labs are equipped with a lot of data which makes them the targets of "hackers" or "crypto jackers" in our case . Researchers have now made programs based on Ml to detect malicious programs that tey to hack into the storage or the computer resources.
The program or system that researchers made is called SiCaGCN which comprises components from neural networks, deep learning and ML. This system prevents the abusive and unauthorized usage of computing resources by foreign programs.

Ml has a huge role in the world of crypto whether it is mining, trading , predicting or even security. In the coming years, Ml will make using crypto currency very efficient and safe.

Hope you learned something new from this post. Let me know your thoughts on this topic in the comments!
Thank you

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@tipu curate 4

Thankyou!

 9 months ago Reveal Comment
 9 months ago Reveal Comment