Since the crypto industry is reliant on its technical solutions, emerging technologies can cause the next big boom. AI is already embedded in a lot of crypto projects and has already produced extraordinary growth. ChatGPT, an AI language model, predicted the top 4 emerging technologies that can influence crypto the most in the next 5 years.
Quantum computing is a threat to cryptographic algorithms and could potentially compromise the security of cryptocurrencies. Traditional cryptographic mechanisms are being reevaluated and hybrid solutions are being developed. Zero-knowledge proofs (ZKP), secure multi-party computation (MPC), and homomorphic encryption are also promising technologies to enhance privacy in blockchain-based solutions.
Interoperability protocols allow for seamless communication between multiple blockchain networks. These technologies aim to facilitate data and value transfers across blockchain platforms and have the potential to increase liquidity. Lastly, scalability solutions are key for processing a large number of transactions quickly and with low costs. Layer 2 solutions are among these solutions that could improve transaction throughput having a positive impact in the industry.
ChatGPT is a powerful AI language model that can connect an anthropomorphized dialogue system. Developed by a team of experienced scientists, it can learn on the fly and offer hyper-personalized conversations at scale. Making conversational AI accessible, ChatGPT offers an expansive platform for product teams to build applications and generate meaningful conversations.
Gal Ron, the Product Manager of StarkWare also shared his insights on the future of zk-Proofs, which is a promising emerging technology. Given his expertise in this sector, his ability to explain the ins and outs of this industry, and its meaningful advancements, it is clear that Ron is a highly respected figure in the crypto space.
It is clear that new technologies can have an incredibly impactful role in the crypto industry. AI, quantum computing, privacy-enhancing solutions and interoperability protocols, as well as scalability solutions, are the ones that could cause the industry’s next big boom. With the developments in this sector, we will definitely be witnessing some interesting advancements in the next 5 years.
