AI, Quantum Computing and Crypto Mining5 May 2021 11:29
As part of my research here, it seemed to me that AI could be combined with BTC mining to provide an advantage in mining efficiency for a bitcoin mining operation.
Using AI to basically increase the number of coins mined, together with Solar/Hydroelectric power and say dielectric oil cooling combined with cold alpine mountain water would make for an interesting mix don't you think? Especially where patents on this technology could be achieved.
This paper is a big read but shows a fascinating insight into using AI machine learning to meet the objective of increased BTC mining relative to peers:
When Blockchain Meets AI: Optimal Mining Strategy Achieved By Machine Learning
https://arxiv.org/pdf/1911.12942.pdf
Reinforcement Learning, from the field of AI/Machine Learning, is the hidden elephant in the room imo.
The conclusion in this paper was as follows:
VI. CONCLUSION
We employed RL algorithms to solve the mining MDP
problem of Bitcoin-like blockchains. We showed that, without
knowing parameters about the blockchain network model, our
RL mining can achieve the mining reward of the optimal
policy that requires knowledge of the parameters. Therefore,
in a dynamic environment in which the parameter values can
change over time, RL mining can be more robust.
GLA!