DEV Community: ElenaAl

How to Gauge A Cryptocurrency Exchange Development Company?

ElenaAl — Fri, 18 Jun 2021 06:50:25 +0000

The global popularity and the explosive growth in cryptocurrency value, the numbers of ICO, and the nascent beginning of the fintech industry started with Bitcoin. People have become self-employed as traders in cryptocurrency. But can you make money by offering a platform for trading cryptocurrency? Today we will talk about the other side of the equation and examine how to gauge a cryptocurrency exchange development company to build you a cryptocurrency exchange from scratch.

To select a software development partner to develop cryptocurrency exchange for you, you must consider the following factors to identify the best cryptocurrency exchange development company for your venture.

The History of the Company

It is imperative to check the history and background of the company. Critical is the length for which they have been involved in the crypto software development. How much experience they have in developing and deploying crypto tokens, STOs, IDO, etc.

Are they able to provide you with a full development and deployment cycle? Are they able to implement elements for your platform's digital marketing and other promotions? Can they develop and deploy? Do they have an intuitive understanding of architectural complexity and scalability? Can they deliver and deploy cryptocurrency exchange apps that seamlessly support any communication logic you deem necessary? These are all the questions you must ask yourself and the tech company you are partnering with.

One of the best ways to gauge a development company is to see if their development team has an account on Github and allow you to look at their code repository. Now, you might not be technically inclined. But, if you are, this might be an excellent way to see how competently they code and how many tools/ frameworks they have worked with and how successfully they implemented past projects. If you are so technically disinclined that you do not know the answer to the question, 'What is a blockchain wallet?' this route is not for you.

Does the Company Understand Your Business Strategy?

More than developing a technological solution, it is crucial to see if the company developing your cryptocurrency exchange project understands your business strategy. How you plan to market, launch, and operate your business This is especially important because you are not choosing a group of developers, you are choosing a partner that knows the ins and outs of doing something that you have limited experience in doing and can guide you with the best advice in deploying your project successfully.

Verify the Quality of Service & Customer support

If you are not technically inclined it is mandatory that you make yourself thoroughly familiar with how the company plans to deploy, and support each and every piece of technology they have developed for you. That they answer and document everything in the case of solution failure or hardware failure. And what is the contingency plan in the event of a failure. Having a robust and competent technical team can be the difference between run-away success and abject failure. Go through all of the following steps to ensure the reputation of the company:

Must have a versatile portfolio with full scale deployment of projects..
A deployable and ambitious business strategy
Competent and professional Blockchain experts team
A detailed and well-tested marketing plan that fits both your vision and their expertise
In compliance with the Laws of the country
Deploy what is promised in Blockchain technology
Excellent team of Blockchain developers
Perform a thorough background check (reviews, feedbacks) of the company

The Company Has a Robust Marketing Plan

Creating a secure crypto exchange is a daunting task. It applies the same way with marketing the crypto exchange platform. You should have a strong marketing plan. One that covers all sectors where your potential clients are, marketing your exchange is critical to launching a successful crypto exchange. Thus, apart from mastering the technical side, you must also focus on the marketing plan of your chosen cryptocurrency exchange development company. Your marketing plans must detail how you plan to tackle the competition in the crypto marketplace.

Verify the Laws of the country

One of the biggest snafus that occur in deploying your project is if the country where your business is based does not allow selling or trading cryptocurrencies or have other prohibitions regarding crypto assets. The development company must have an in-depth knowledge of the applicable laws related to the cryptocurrency exchange development service. Also, your developing company must know the marketplace issues of the country’s jurisdictions. Instead of understanding cryptocurrencies, many countries are saying NO to digital currencies and crypto exchanges. Some of the countries have gone as far as banning trading cryptocurrencies. Things might split your way where there is no ban on cryptocurrency exchange development services. Thus, ensure that the laws of the country are in your favour before choosing a development company.

Deployment of the Most Current Blockchain Technology

In today's market of rapid innovation, Blockchain technology is one of the complex & progressive technologies and has applications and use cases in many industries. Due to the various use cases and applications, the technology is also changing and maturing very quickly. When it comes to your cryptocurrency exchange development projects, it is critical to implement the most cutting-edge blockchain technology and features in it. While choosing a development company, you need to ascertain and verify whether their developers have expertise in blockchain technology or not. Whether you choose to secure your project with a digital wallet or paper wallet ethereum, it is critical to do so using the most recent technology at hand.

Closing Words
The factors discussed above are the bare minimum of things you must consider before choosing a development company for your cryptocurrency exchange. Make sure that the company has a history of successful outcomes, it understands your business strategy and will help you in implementing it, has expertise in Blockchain use cases that are most recent in an evolving marketplace, and provides excellent customer support to overcome any problems when your exchange goes live.

Was, Is, & Will of AI

ElenaAl — Mon, 17 May 2021 11:18:11 +0000

What is artificial Intelligence? Is it a common mind-state? Is it simple book-smarts learned averagely? Artificial Intelligence is the theory and development of computer systems able to perform tasks that usually require human intelligence, such as decision making, language translation, and visual perception. The main things that most young minds would think about when they hear the words, “Artificial Intelligence” would probably be Siri (Speech Interpretation & Recognition Service) from the iPhone or iPad, Alexa or Echo from Amazon, or even J.A.R.V.I.S. (Just A Rather Very Intelligent System) from the Iron Man movies.

These pieces of intelligence just seem like common technological assistants from time to time, but a question has been sweeping the nation. How would Artificial Intelligence be developed in the next half-decade? Not only is there a history and good use, but there can be futuristic theories for the whole world to look at and acknowledge.

Where has it all started? The definite answer is after 1900. Not exactly though, because just the mere thought of the subject can have a part in its history. Artificial beings originally appeared in Greek Myths. There were rumors of secret mystical minds into matter. Ideas of Artificial men were fictionally developed in the 19 th century.

Fictional ideas can include Mary Shelly’s Frankenstein and Karel Čapek's R.U.R. The term wasn’t officially adopted until the year, 1956. At a conference in Dartmouth College, New Hampshire, MIT Scientist, Marvin Minsky said that within a generation, the problem with creating Artificial Intelligence will be substantially solved. Solving the creation wasn’t simple. In a 6-year period from 1974 to 1980, known as the “Winter of AI,” government funding and interests were dropped off. The British government revived the development by giving funds again to continue the competition with the Japanese.

There were ups and downs in the development, including another long winter. Eventually, something came up in 1997. The phrase, “Every aspect of learning or any other feature of intelligence
can be so precisely described that a machine can be simulate it” was included as a conference proposal. In 1997, IBM’s Deep Blue became the first computer to defeat a champion of chess when it beat Garry Kasparov, the Russian Grandmaster. In the not-so-distant year of 2011, the giant computer answering system known as Watson won the famous television quiz show, “Jeopardy!” Watson was shown to be imperfect, but I.B.M. researchers started developing new technology uses based on Watson.

Artificial Intelligence is based on the assumption that the process of human thought can be mechanized. To many, that assumption is accomplished. Nowadays, Artificial Intelligence can be experienced almost everywhere. AI is seeping into everyone’s lives; thus, it affects how they live, work, and entertain themselves. Almost everyone is familiar with Apple’s “Siri.” She helps find info, directions, and even sends text messages. Another famous AI named “Alexa” is also useful but not as old. It took the world by storm after it was introduced by Amazon.

Unlike Siri, who’s usually on iPhones and iPads, Alexa is on small household devices. Alexa can do what Siri can do, including setting alarms, shop, and play certain music programs. Both Siri and Alexa are voice activated. Netflix is also considered an example of Artificial Intelligence. Netflix provides great service with movies and TV shows. This program has predictive technology. Billions of records are analyzed, thus there are suggestions for viewers based on their history. While most people think the subject and idea of Artificial Intelligence is accomplished, others may say it’s not completely. AI is still at quite a young age despite the thought starting many years ago.

Others believe that true AI is the mechanized thought learning on its own like an actual human mind. People thinking of true intelligence like this may think of J.A.R.V.I.S. from the Iron Man movies. He talks to Tony Stark like an actual human being and doesn’t require any specific sounding phrases to take command. He assists him in battle, tells him what’s good or bad, and even makes smart decisions. In the far future, there could be the right type of technology to develop such beings.

When it comes to thinking about the future, it’s always a big mystery. If people are trying to think of what advancements can be made in the next 5 years, then it’ll take the most brilliant minds to make things big. Scientific discoveries can only be made by the truly inspired. Many must want and help. Many breakthroughs have been made recently, but researchers believe that the best developments in AI can take more than 5 years. Inspiration, devotion, and sometimes funds are needed to ensure a successful update in a piece of technology.

Christopher Bishop has said, “Right now we are in a phase of very fast advances and that may well proceed for a little number of years.” There are many advances to look at today, which includes computers being able to quickly translate and speak written conversations. If the AI technology is this good today, then there’s no doubt that it could advance to a whole new and better level. Even though it has already reached big levels, Mr. Bishop said that Artificial Intelligence cannot quite reach the complex thinking that the humans have.

In the next 5 years if AI does advance as high as believers want, it could possibly be smarter than humans at certain tasks. Being smarter than ever, AI could be a help in diminishing sicknesses, war, and poverty. AI could be a known topic in history noted as, “From assistant to hero.” In history books, humans have been listed as heroes for centuries, but soon, the next could be a piece of tech. Going through self-improvement is what’s wanted, but some of the smartest minds studying the subject are thinking with concern. There may be benefits, but where there are benefits, there could be consequences.

There’s actually an AI arms race taking place, and it can be dangerous to have AI weapons. They can be leading to an AI war and lead to going out of control for an armed person. It’s said that the researchers are creating safeguards to ensure that the systems will safely perform in unanticipated situations. The people are really thinking of a situation similar to a villain of Marvel’s Avengers: Age of Ultron. Ultron was an Artificial Intelligence meant to be good in serving as a global defense program, but turned out very evil and concluded that destroying humanity was the way for ultimate benefit. Scientists who think ahead obviously won’t let that happen.

In conclusion, AI does have a potential of being more intelligent than the humans later on, so science has no exact way of predicting its future. Even the smartest like Hawking, Musk, Wozniak, and Gates had some concern of Artificial Intelligence. It can be good, it can be bad, it can be awesome, which is all up to the humans. Some are thinking that superintelligence is around the corner and can have such a negative impact.

Every scientist has to put his or her mind to the test to keep things smooth and clean. They must take things at a slower rate to keep things safe. As said as a good moral: Slow and Steady wins the race. If AI does get to where the invested wants it to be, it can still possibly fully develop with amazing new features. It can provide full conversations, give recommendations, and teach great lessons. 5 years is very probable, but a little more can be more assuring for new things. All it takes for success is a careful and smart mind.

Bringing up the Basic Things About AI

ElenaAl — Fri, 14 May 2021 06:46:51 +0000

Contrary to how it may be used in an everyday context, artificial intelligence is not a countable noun, but rather a scientific discipline or a set of problems, concepts, and methods for problem-solving.

While there’s no sole definition universally accepted by professionals, artificial intelligence is properly known in the professional realm as narrow AI which is designed for a machine to handle one task. The long-term goal of researchers is to develop general AI or strong AI, which can handle any intellectual task.

The very concept of AI was cemented by Alan Turing in his 1950 paper “Computing Machinery and Intelligence” in which he not only posed the question of whether machines can think but proposed a machine’s capability of learning from an experience as a child does. Though it faced its challenges, AI development has accelerated since the 90s and is now applied to various fields both in computer science and others such as business, big data, e-commerce, science, machine learning, computer vision, natural language processing, automation, and social media.

The broad abilities of AI coupled with its (often inaccurately skewed) perception generated by pop culture and entertainment media has created many jokes and discussions regarding the future effects of AI on mankind, from memes on social platforms to legitimate debates and surveys on the potential risks of AI affecting the workforce. That'll be brought back up later.

The future of AI’s advancement can’t be disconnected from its present usage. AI is found in multiple avenues in today’s digital age and businesses. For example, the healthcare industry employs AI applications that provide personalized medicine, X-ray medicine, and reminders for healthy nutrition and exercise. AI allows virtual shopping with personalized recommendations for customers in retail and is predicted to improve stock management, marketing, pricing and promotion, customer service, and reduce human error. For instance, IBM developed its Order Management System (OMS) to aid companies to increase channel sales and improve customer service through tracking order entry, inventory management, and after-sales services of orders. Google and IBM use deep learning to have neural networks learn complex patterns, which can be found in image and speech recognition.

The technique people may be most familiar with are advanced algorithms, which analyze data to perform functions such as music or film/show recommendations on Spotify or Netflix. Conversely, AI within automation has been and is cited to place workers, particularly cashiers, out of jobs. This has been witnessed with self-checkout and machine intelligence used for robots in assembly lines within manufacturing industries, especially for automobiles.

Founder of the Future Today Institute and professor of strategic foresight at NYU Amy Webb has stated how previous generations witnessed the effects of the Industrial Revolution, technology’s rapid, exponential growth will “mean that Baby Boomers and the oldest members of Gen X – especially those whose jobs can be replicated by robots – won’t be able to retrain for other kinds of work without a significant investment of time and effort.”

However, this notion has been criticized by professionals such as Alexander Linden, research vice president at Gartner, who argues AI myths stem from a misconception of its intelligence being equivalent to a human’s. AI is being used to supplement human intelligence rather than replace it, and challenges with it still surface such as inaccuracy in solving math problems and biased facial recognition.

Because there’s no other alternative for AI to learn from data, any inaccuracies in the data will be reflected in the results. An AI model must be retrained continuously and receive feedback from end-users to improve accuracy and performance. The advancement of AI is projected to make massive impacts in various aspects for employers and the workforce. In human resources, it’s aiding recruiting professionals to match qualified applicants with job opportunities by identifying open role requirements that match with them using data. Not only do these technologies screen resumes to narrow the candidate pool and account for human bias, but they’re also affordable and use applicant tracking systems that utilize AI.

In finance, higher-level advisory and sales roles that require more human connection will become more available as AI methods take on lower-level activities. Software engineering and data scientist roles will become more abundant, and machine learning executes trades and financial bets. Machine intelligence will further develop safer workplaces, in which robots performing more dangerous tasks allows humans to go into safer careers. This already seen with how robots are used in natural disaster relief sites to help locate any deceased or casualties. AI techniques will also be applied to workplace learning programs in which the curriculum is customized for the users’ knowledge and understanding of the topic, sped or slowed down, or more or less in-depth depending on their performance.

This allows onboarding processes to be more effective in having new hires more prepared to start work in a shorter time frame, which can boost a team’s productivity. One area of profession that’s more debated than others is creativity, particularly with the arts. As stated previously, machine intelligence isn’t quite on par with human intelligence, and human creativity is an example, as it’s more intrinsic on an individual level and thus may be harder for AI networks to replicate. This can be seen by recent developments of AIVA, an AI music composer that creates personalized music, and the AI software named “Benjamin” which was fed screenplay sampling and gradually acquired the ability to imitate a screenplay’s structure (though it was unable to recognize proper names due to them being less predictable).

While these are examples are major breakthroughs for AI and how creative works can be done, there are still shortcomings that reveal visible differences between a human’s creativity and a machine’s. The significance of AI methods cannot be overstated, especially with how much its influenced technological development, how we think of technology, and the underlying similarities and differences between humans and machines. With the internet of things exploding now, the implementation of AI will only further be applied to virtually all walks of life in most, if not all developed countries, and possibly the rest of the world.

Why I Say That Blockchain Is the Future

ElenaAl — Tue, 20 Apr 2021 13:39:24 +0000

“If the United States were to decide we didn’t want cryptocurrency to happen in the United States and tried to ban it, I’m pretty confident we wouldn’t succeed.”

This was a statement made just a couple of days ago at the U.S. Senate’s hearing about regulation of cryptocurrencies and blockchain.

Even parties who might want to regulate or constrict blockchain recognize it as an inevitable, unstoppable force of the future. Cryptocurrency is just one of the many manifestations of this technology, with the potential of blockchain ranging to everything from small grassroots efforts like crowdfunding to large-scale, global endeavors like an entirely new Internet. Because of its efficiency, scalability, and affordability, blockchain technology will take the world by storm and completely redefine the way we think about data transmission. The simple and yet powerful axioms that define blockchain technology also give it many benefits that outdate traditional economic views, and even outdate current tech giants who challenge those views.

For all of the jargon and mystery associated with blockchain technology, it is essentially just a decentralized ledger. It involves storing data in groups called blocks across thousands or even millions of nodes, which are all the devices across a blockchain network. After the nodes reach a consensus – that is, they agree on the validity of the data in the block, the block becomes published and added to the chain of other blocks.
Because the data is stored and processed evenly across all nodes, decentralization is one of the defining features of this technology.

Another key aspect is transparency: once the block is added to the chain, anyone can access it and view it. The third critical feature of this network is immutability – after the block is published, it cannot be tweaked, disputed, or removed. Even if one node on the network tried to change the information, all of the other nodes would have information to oppose and therefore neutralize it. These key features give the technology major advantages to traditional data transmission techniques. One of the most important advantages is that blockchain does not have transaction costs.

Everything is automated and decentralized so, while there are associated infrastructure costs (often internalized by the network), there is no overarching agency to charge the operation. This is the exact opposite of financial institutions and companies based on the market-maker principle.

Companies like Airbnb and Uber – which rely on the costs they charge for connecting buyers and sellers – will be made obsolete by blockchain technology. All that needs to be done is to encrypt the information associated with a bed and breakfast or a car ride – and the convenience provided by such business models will be multiplied and freely provided by the blockchain.

Even more complex and large-scale marketplaces like Amazon could be replaced by blockchain technology. Not only could the products themselves be captured by blockchain code, but also the reviews, ratings, and other associated third-party information. All of this data could be stored and transmitted – freely – on the blockchain network. What’s more, the producers and suppliers would receive the full profit as opposed to a small portion or royalty.

Intuitively, it’s easy to see why this would be attractive to both buyers and sellers, but this is substantial even from a fundamental economic perspective. By eliminating transaction costs, which is a source of market inefficiency and deadweight loss, markets will be able to conduct business at true equilibrium where supply meets demand, and thus total market utility and welfare will increase. Since profit from the companies is no longer getting eaten up by transaction costs, more producers will be able to enter markets, more consumers will be able to purchase, and higher quality products will be sold for cheaper prices. Blockchain has the power to bring the world to a new age of economic prosperity. While the inherent traits of blockchain give it much promise, when combined with other growing technologies, the power of blockchain is heightened even further.

For example, the growing development of artificial intelligence makes it a promising partner for blockchain. By applying artificial intelligence to blockchain networks, they could potentially become even more secure and robust. Even though the decentralized and encrypted nature of blockchain technology makes it very difficult to hack, hacks are still possible, such as those launched against cryptocurrencies. Though they are not popular, when they do happen, they get a lot of publicity and undermine the promise of blockchain technology. By applying artificial intelligence in the form of an algorithm like Homomorphic encryption, which operates on encrypted data, this issue could be solved.

Another aspect that artificial intelligence could improve is efficiency. As mentioned earlier, though there are no transaction costs associated with blockchain technology, there are infrastructure costs. Millions of dollars can be spent sharing and validating blocks in certain blockchain networks. With artificial intelligence, the network might be able to figure out the likelihood of certain nodes to validate more quickly than others, and direct the load towards those nodes and away from less efficient ones. These are just a couple ways in which artificial intelligence could be applied to blockchain to catalyze its growth even further and bring us that much closer to the future.

Combined with AI, blockchain is even smarter and faster, which will make it that much easier to seamlessly integrate into our everyday lives. With its rapidly growing adoption, the future of blockchain is right around the corner. Even so, I think there are certain aspects of blockchain that must be addressed before this future can be fully realized. One of the biggest obstacles is just social uncertainty. As mentioned before, the famous hacks to cryptocurrencies makes people question the security of blockchain. An even more pressing setback is that most people simply don’t yet understand the advantages of a safe, decentralized ledger.

As with many technologies, I think once more effort is put towards education about blockchain, it will continue to spread and advance. I think another important issue that must be addressed is energy efficiency. In the process of validating and storing the data, also known as mining, a lot of computational energy is spent, and it can quickly add up over large blockchain networks. With a growing international focus on global warming and environmental issues, this must be addressed for us to realize the future that blockchain can provide.

The good news is that technologies like artificial intelligence are already being applied towards energy efficiency, and this may be yet another way in which AI can help blockchain. A third and final shortcoming that I see keeping us from the future of blockchain is current technology limitations. One such example is mobile communications. Many people believe that once 5G cellular technology becomes widely adopted, blockchain will really be able to take over as the new, decentralized internet. This makes since because this will enable computers and mobile devices to become more powerful nodes and transmit data at a faster rate.

None of the obstacles mentioned are by any means insurmountable, and I think that, if addressed soon, the future could be closer than we might think. Now more than ever, people are starting to place a large emphasis on things like privacy, efficiency, affordability, and equity. Blockchain answers all of these concerns, and its potential is starting to become more recognized. With the growing popularity of emerging technologies like smart contracts, cryptocurrencies, and other blockchain applications, it’s only a matter of time before blockchain runs the world. The funny thing about the future is that nobody knows what it is, but everybody expects it to be faster, smarter, and better than the now. I agree – that’s why I say the future is blockchain.