Analysts hint at a new blockchain contender: Could it outpace Bitcoin and Ethereum in 2024? Its Proof of Intelligence consensus mechanism and AI Virtual Machine offer enhanced scalability, sustainability, and interoperability
The blockchain industry has long been dominated by Bitcoin and Ethereum. While Bitcoin remains the benchmark for decentralisation in the crypto world, Ethereum’s innovation in smart contracts and decentralised applications (dApps) has set it apart.#sr_widget.onDemand p, #stock_pro.onDemand p{font-size: 14px;line-height: 1.28;} .onDemand .live_stock{left:17px;padding:1px 3px 1px 5px;font-size:12px;font-weight:600;line-height:18px;top:9px} #sr_widget.onDemand .sr_desc{margin:0 auto 0;} #sr_widget.onDemand .sr_desc{color: #024d99;margin-top:10px;} #sr_widget.onDemand .crypto .live_stock .lb-icon{8px 6px 5px 3px !important} #sr_widget.crypto.onDemand a.text{border-bottom:1px solid #ccc;padding-bottom:5px;display:block;width:100%} #sr_widget.onDemand .sr_desc .text p, #stock_pro.onDemand .sr_desc .text p{font-size:12px;font-weight:400;} However, as we move into 2024, analysts hint at a new contender: Lightchain Protocol AI. By seamlessly integrating blockchain with artificial intelligence (AI), Lightchain AI is positioned as a transformative force, offering solutions to the limitations of traditional blockchains. With the Lightchain currently live, early adopters can secure Lightchain Tokens (LCAI) and be part of a project that could reshape the crypto landscape.
What sets lightchain AI apart?
Unlike Bitcoin and Ethereum, Lightchain AI is purpose-built to tackle some of the blockchain industry’s biggest challenges, such as scalability, sustainability, and interoperability. Its Proof of Intelligence (PoI) consensus mechanism is a game-changer. By rewarding nodes for completing valuable AI-driven computations instead of traditional mining or staking, PoI not only secures the network but also advances AI technology. This approach ensures that Lightchain AI is energy-efficient and impactful, making it a leader in sustainable blockchain innovation.Another standout feature of Lightchain AI is its Artificial Intelligence Virtual Machine (AIVM). Unlike Ethereum’s EVM, the AIVM is optimised for real-time AI computations, allowing dApps to leverage machine learning (ML), predictive analytics, and decision-making capabilities directly within the blockchain. This integration opens the door to smarter, faster, and more scalable decentralised systems.
Addressing blockchain’s persistent challenges
Bitcoin and Ethereum have laid the groundwork for blockchain technology, but both face significant limitations. Bitcoin’s simplicity and security come at the cost of limited scalability and high-energy consumption, while Ethereum’s transition to Proof of Stake (PoS) is still grappling with high gas fees and network congestion.Lightchain AI addresses these issues head-on by:
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Scalability: Implementing advanced sharding and Layer-2 solutions to process thousands of transactions per second without compromising security or decentralisation.Sustainability: Using PoI to eliminate the need for energy-intensive mining, aligning blockchain operations with environmental goals.Interoperability: Facilitating seamless interaction with other blockchains, making it a bridge rather than a silo in the decentralised ecosystem.
Spotlight WireThe industries that could benefit
Lightchain AI’s unique combination of blockchain and AI capabilities makes it a standout for industries requiring high performance and privacy:Healthcare: Secure, decentralised sharing of sensitive medical data for better diagnostics and research collaboration.Finance: Smarter DeFi solutions powered by AI for real-time risk analysis and automated decision-making.Supply Chain: Improved transparency and efficiency through AI-driven logistics management.
Could Lightchain AI lead the next wave of blockchain innovation?
As 2024 progresses, Lightchain Protocol AI is emerging as a platform that not only competes with Bitcoin and Ethereum but also addresses the gaps they’ve yet to fill. Its ability to combine scalability, sustainability, and intelligence makes it uniquely positioned to lead the next wave of blockchain innovation. With a mainnet launch planned for late 2024, the project is already gaining momentum as a contender for the top spot in decentralised technologyLightchain Protocol AI is more than just a blockchain; it’s a vision for the future of decentralised systems. Secure your Lightchain Tokens (LCAI) during the presale and join a project that’s redefining blockchain’s potential.
Website: https://lightchain.aiWhitepaper: https://lightchain.ai/lightchain-whitepaper.pdf Twitter/X: https://x.com/lightchainaiTelegram: https://t.me/LightchainProtocol
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This story originally appeared on: India Times - Author:Faqs of Insurances
