While these technologies are often seen as complementary, there is also speculation that AI could eventually replace the need for human blockchain developers. In this blog post, we’ll explore this topic in detail:
- the essential skills we should learn as a blockchain developers to work in this field;
- we will also discuss the advantages and disadvantages of using AI in this sector.
Will AI Replace Blockchain Developers?
No, AI is unlikely to replace the need for human blockchain developers entirely. However, AI can change the nature of their work. Blockchain and AI can be combined through smart contracts to create powerful new solutions. The blockchain market size is expected to reach USD 33.53 billion by 2030, showing the potential of blockchain and the developments in the space.
What Skills Do Blockchain Developers Need That AI May Not Be Able To Replicate?
Programming and coding skills
Programming and coding skills are a must-have for blockchain developers. Understanding and having experience in programming languages like C++, Golang, Java, or other languages for protocol development is essential.
Although AI can already write code and develop programs, it can’t write from scratch. A blockchain developer’s programming and coding skills will come in handy when building smart contracts, developing and testing software and systems, and maintaining the architecture of blockchain systems.
Understanding of Cryptography and Data Structures
Blockchain is a decentralized, secure ledger that uses cryptography to ensure data integrity and authenticity. Therefore, a blockchain developer must understand cryptographic techniques like hashing, digital signatures, and public-private key encryption.
They must also be familiar with various data structures like UTXOs and account/balance, which are commonly used in blockchain databases.
Expertise in Smart Contracts
Smart contracts are self-executing computer programs that automate contract execution on the blockchain. Blockchain developers must have expertise in creating, testing, and deploying smart contracts.
They need to understand the underlying concepts of smart contracts, such as programming logic, conditional statements, and functions. They must also be familiar with smart contract programming languages such as Solidity.
Familiarity with Algorithms and Data Structures
Blockchain developers must be well-versed in algorithms and data structures, which are the building blocks of blockchain technology. They should deeply understand how the blockchain network uses various types of data structures such as graphs, hash trees, Patricia trees, and Merkle trees.
They should also be familiar with cryptographic algorithms, consensus algorithms, and distributed ledger technology.
Lastly, blockchain developers must have a solid grasp of blockchain terminology, including the technological basics that make up the blockchain. They should understand the terms related to consensus algorithms, hash functions, nodes, mining, and more.
Having a good understanding of blockchain terminology is crucial for effective communication with clients, stakeholders, and other team members in a blockchain project.
Open-source technology experience
Experience in open-source technology, including developing, designing, testing, and deploying APIs, is another vital skill for blockchain developers. Open-source technology is essential in blockchain technology because it provides the transparency and security needed for blockchain applications.
Mathematical skills, including knowledge of mathematical and statistical concepts such as calculus, differential equations, linear algebra, matrix, complex numbers, linear and higher-order regression, and logistic regression, are essential for blockchain developers. Mathematical skills are necessary for building cryptographic algorithms that secure the blockchain network.
What Are The Advantages Of Using AI In Blockchain Development?
Improved Data Integrity and Provenance
One of the most significant advantages of combining AI and blockchain is improved data integrity and provenance. Blockchain provides a digital record of all transactions, ensuring that data is tamper-proof and traceable. AI can analyze this data, providing insights into the framework behind AI and the provenance of the data it is using. This allows for better trust in data integrity and, by extension, in AI’s recommendations.
Increased Transparency and Security
Blockchain and AI offer a double shield against cyber-attacks, ensuring increased transparency and security. AI can effectively mine through large datasets, detecting fraudulent data sets and removing bugs.
On the other hand, Blockchain provides tamper-proof data storage, making it challenging for cybercriminals to manipulate data or steal information. The combination of AI and blockchain provides better security than using either technology alone.
Audit Trail and Explainable AI
Using blockchain to store and distribute AI models provides an audit trail. Blockchain’s digital record offers insight into the framework behind AI, making it easier to understand and improve upon.
Explainable AI is essential in increasing transparency, which helps build trust with stakeholders. Blockchain helps address the challenge of explainable AI, providing insight into the provenance of the data used and the reasoning behind the AI’s recommendations.
Efficient Smart Contracts
Smart contracts are self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code. Using AI in blockchain development can make smart contracts more efficient by automating the verification process.
AI can analyze and study people’s behavior in certain circumstances, making it easier to identify fraudulent behavior and thus preventing fraudulent transactions. Using AI in blockchain development can make smart contracts faster, more secure, and more efficient.
What Are The Drawbacks Of Using AI In Blockchain Development?
Unemployment Due to AI Automation
One of the significant drawbacks of using AI in blockchain development is the potential loss of jobs due to automation. AI-powered automation has been a pressing concern as the technology can replace human tasks and render them obsolete.
As blockchain technology relies heavily on automation, it will likely contribute to job losses in certain areas, including finance, supply chain management, and more.
AI Can Be Biased
Another drawback of using AI in blockchain development is the risk of AI bias. AI systems are trained based on the data they receive, which means that they can be influenced by any biases present in that data.
This can result in unfair outcomes, mainly when AI makes decisions that affect individuals’ lives. In the context of blockchain development, AI bias can undermine the integrity of the blockchain and its associated systems, leading to security risks and data breaches.
Developing blockchain systems with AI capabilities can be a costly affair. The integration of AI requires the implementation of complex algorithms and the use of specialized hardware that can be expensive to procure and maintain.
Additionally, developing AI systems requires significant expertise, which can further increase costs.
AI and blockchain technology requires substantial computing power to operate efficiently. This can lead to high energy consumption and contribute to environmental degradation. The carbon footprint of these technologies can be significant, mainly when large-scale blockchain systems with AI capabilities are implemented.
The integration of AI and blockchain technology can result in increased complexity in system design and implementation. Blockchain technology already presents some challenges in terms of its complexity, and adding AI capabilities can make it even more challenging to manage and maintain.
This can make developing and deploying blockchain systems with AI capabilities difficult, particularly for organizations with limited resources and expertise.
How Can Blockchain Developers Use AI To Enhance Their Work?
Blockchain developers can use AI to mine through huge datasets, create new scenarios, and discover patterns based on data behavior.
Blockchain can then store and distribute these AI models to provide an audit trail and enhance security.
How Can Blockchain Be Used To Improve The Trustworthiness Of AI Recommendations?
Blockchain’s digital record can provide insight into the framework behind AI and the provenance of the data it is using.
This helps improve trust in data integrity and, by extension, in AI’s recommendations.
Is There A Risk That AI Could Automate Some Blockchain Development Tasks?
Yes, there is a risk that AI could automate some low-level blockchain development tasks.
However, this does not necessarily mean that AI will replace blockchain developers altogether.
What Are Some Potential Future Scenarios For The Intersection Of AI And Blockchain?
Some potential scenarios include using AI to optimize blockchain networks, using blockchain to secure AI algorithms and data, and creating decentralized autonomous organizations that use AI to make decisions.
What Can Aspiring Blockchain Developers Do To Future-Proof Their Careers Against Potential AI Automation?
Aspiring blockchain developers can focus on developing specialized skills in areas where AI is less likely to replace human expertise, such as legal and regulatory compliance, business strategy, and community building.
They can also look for opportunities to add value to blockchain projects and build a strong professional network within the industry.
It’s highly unlikely that AI will replace blockchain developers anytime soon.
While AI can automate certain tasks in the development process, it still lacks human developers’ creativity, critical thinking, and problem-solving abilities.
Blockchain technology constantly evolves, and skilled developers are needed to adapt and innovate.
So, if you’re considering a career in blockchain development, don’t let the fear of AI take over. The future looks bright for both AI and human developers in this exciting field.