Paving the way
Tags: Distributed Ledgers, Zenon Network, Zenon, Cryptocurrency

Use-cases

AI & Big Data

AI and Big Data are two buzzwords that everyone heard at least once before. They are genuinely transformative technologies that have nearly unlimited upside potential. The automation of work that began in the early XVIII century with the steam engine’s apparition leads to a massive industrialization trend and advancements that were impossible to achieve since the birth of humanity. This movement sparked an explosion of innovations and discoveries that enabled the human race to conquer the space two centuries later.

Machine learning and, more recently, deep learning have the same potential to disrupt and innovate industries beyond our current understanding. We are at the dawn of a new era of our civilization, and the current state of AI can be compared to the first steam engine; it works and does the job but can be improved thousand of times both in scale and efficiency. It can be improved in the same way the rocket engine was the culmination of generations of improvements upon the stream engine helping humankind put a step on the Moon’s soil.

However, deep learning algorithms require a lot of raw data and computational power to process and train to achieve better results — the parameters of the networks are adapted dynamically with every new pair of training data and its result. This uncovers one of the secrets of deep learning: data. Data is the new oil. The more data you have, the more precise the results will be. The downside is that big data means immense computational power.

Today, the most widespread neural networks have obtained their parameters by running over vast GPU-powered clusters. We believe the next major movement regarding artificial intelligence and deep learning would be to run deep learning algorithms on a “global supercomputer” by leveraging the DLT to function. It should employ algorithms to evenly distribute those tasks on subsets of nodes that are part of the network and can handle the job (i.e., are equipped with GPUs or specific hardware).

Nonetheless, deep learning algorithms have many applications, some that are already mainstream, mainly in the fields of computer vision like autonomous driving, natural language processing like real-time translation, the automation of tasks like RPA, and many more.

DAOs and DACs

Decentralization is a core feature of any cryptocurrency network, and its adopters should be the ones that dictate the path and vision of it in a pseudonymous and decentralized way. Zenon Alphanet release offers the complete infrastructure for users to vote or propose new ideas and upgrade or enhance the network according to their vision. Combining the governance system with the delegation feature where ZNN coins act as votes, Zenon becomes a DAO following its community’s rules. Leveraging smart contracts and the upcoming SDKs, anyone can create, deploy, manage, and interact with DAOs or DACs. Even more, exciting and brand new use-cases can arise if they are further enhanced with AI.

Oracles

Any DLT network needs to have the ability to interact with external data. Oracles are designed to supply and feed external information into the network, and they represent the bridge between on-chain smart contracts and off-chain data. Sentinels and sentries will have the possibility to act as oracle nodes for the Zenon ecosystem. They can validate data from various applications and industries such as prediction markets, supply chain management to more complex areas such as DeFi (insurance, loans, stablecoins, etc.).

Secure Data Storage

Network nodes process and store transactional data inside a decentralized ledger accessible for everyone, anytime. Any sensitive records, such as financial documents or biometric data, can be safely stored and retrieved. Each record will have a unique hash, and its authenticity can be instantly validated, without having the prospect of modifying the information in any way. Paired with a next-generation protocol like IPFS, it can offer endless possibilities for various domains such as real estate, accounting, notary services, etc.

Decentralized Digital Identity

One of the main qualities of a DLT is its immutability. A decentralized digital identity service can foresee and prevent digital tampering, replicated identities, and identity theft. Blockchain-based solutions promise to pave a way to reimagine identity services, and Zenon will offer the tools to build such services.

The digital era has confirmed to be shifting to a more knowledgeable society, taking advantage of the current emerging technologies. Artificial intelligence is influencing the fate of practically every industry and every human being; together with Big Data, IoT, DAOs, and Oracles, DLT will create a solid foundation for any type of IT&C system.

To summarize, Zenon will attempt to add value and deliver solutions in four primary areas of interest: