At first glance, AI and blockchain seem like completely disparate realms. For instance, blockchain emphasises decentralisation but suffers from constrained memory and throughput rates.
On the other hand, AI thrives on massive datasets and demands high-performance computing. To elaborate, Machine learning (ML) models – especially deep learning networks – require enormous amounts of data to train effectively, often relying on powerful GPUs or specialised hardware to process this information quickly.
To this point, a report from the International Energy Agency (IEA) states that the global electricity demand for AI is projected to rise to 800 TWh by 2026, a nearly 75% increase from 460 TWh in 2022. Similar projections have also been released by multinational giants such as Morgan Stanley and Wells Fargo, with the latter’s model suggesting that, by 2030, AI-centric energy consumption will account for 16% of the USA’s current electricity demand.
Morgan Stanley’s AI power consumption prediction (best-case scenario)
The best of both worlds is here.
Despite their apparent differences, the tech world is witnessing a growing convergence between AI and blockchain, with a number of innovative projects emerging. For instance, Ocean is a protocol that provides users with a decentralised data exchange centre, unlocking information sets for AI consumption while preserving their privacy and security.
Similarly, ThoughtAI embeds AI and blockchain directly into data and information, effectively eliminating traditional application layers. It aims to create more responsive and adaptive AI solutions, potentially revolutionising how people interact with the technology and manage information.
While these projects demonstrate the potential of combining AI and blockchain, they also highlight a critical challenge, i.e. scalability. For AI on blockchain to truly flourish, platforms need to overcome the inherent limitations of traditional blockchain architectures, particularly in terms of data availability and throughput.
In this regard, 0G is a platform that has made significant strides in addressing the above-mentioned bottlenecks. To elaborate, ZeroGravity (0G for short) is the world’s first data availability system with a built-in general purpose storage layer that is not only highly scalable but also decentralised. Its scalability hinges on separating the workflow of data availability into a data publishing lane and a data storage lane.
To put it technically, 0G is a scalable Data Availability (DA) service layer built directly on top of a decentralised storage system. It addresses the scalability issue by minimising the data transfer volume required for broadcast. — allowing for unprecedented levels of data availability and transaction throughput.
One of the key advantages of 0G is its performance. While competitors like Celestia are able to achieve about 1.4 to 1.5 megabytes per second, the 0G network is capable of producing about 50 gigabytes per second, making it 50,000 times faster. Additionally, 0G’s cost is approximately 100 times cheaper than its closest competitors.
This level of performance and flexibility opens the door to a wide array of AI/blockchain use cases that were previously impractical or impossible. For starters, in the realm of finance, 0G’s scalability can potentially allow for sophisticated AI-powered trading algorithms to operate directly on-chain.
Similarly, it could also be possible to implement large-scale federated learning systems on the blockchain, leading to breakthroughs in privacy-preserving AI—where multiple parties can collaboratively train AI models without sharing sensitive data directly. Such advancements could have far-reaching implications in fields like healthcare, where data privacy is paramount but collaborative research is essential.
A trillion-dollar opportunity is waiting to be tapped.
As we look to the future, it’s clear that the intersection of AI and blockchain will continue to expand and evolve.
This convergence is not just a technological curiosity but a massive economic opportunity. For example, the AI industry is projected to be worth a staggering $1.3 trillion by 2030, while the blockchain market is set to reach a valuation of $248.8 billion by 2029, reflecting their transformative potential across virtually every sector of the global economy.
Therefore, moving forward, it stands to reason that those companies and platforms (such as 0G) that are able to successfully navigate this convergence — solving the technical challenges while unlocking new value propositions — will be well-positioned to capture a significant share of this trillion-dollar opportunity.