Flare Introduces Consensus Learning, AI Meets Blockchain

Flare introduces Consensus Learning (CL), an AI technique integrated with blockchain consensus to enhance accuracy and safety.

In its most recent research article, Flare (FLR), a Layer 1 blockchain that uses EVM, introduced a novel artificial intelligence (AI) technique named Consensus Learning (CL). To build AI that is both more accurate and safer, the study recommends combining AI with the blockchain consensus process. 

The value of the Flare token, FLR, rose once the news broke. Data from CoinMarketCap shows that FLR’s price has increased by around 11.7 percent in the last seven days.

Consensus Learning is a new decentralized machine learning solution, as described in the paper. Consensus Learning uses blockchain technology to create decentralized AI models, as opposed to the centralized ML methodologies used by most current blockchain initiatives. These methods improve performance, security, privacy of data, and decentralization.

Consensus learning is an aggregation method that uses a gossip protocol to relay the predictions from individual models to facilitate consensus. Thus, consensus learning creates decentralized AI models by utilizing blockchain technology.

Healthcare and banking are two data-sensitive industries that can benefit from Consensus Learning’s ability to improve operational effectiveness and efficiency while enhancing decision-making processes. Enhanced fraud detection capabilities, more accurate financial analysis, and better patient care results are some possible advantages.

The unveiling of Flare’s consensus learning accelerates the integration of blockchain AI

An increasing number of AI service implementations on the blockchain have emerged in the past few years, showcasing novel approaches to combining AI with decentralized networks. Bittensor, Ritual, and FLock.io are just a few examples of operational initiatives that have followed this pattern.

Especially since Internet Computer (ICP) made history by revealing the first ever blockchain-based AI, executed as a smart contract, Flare’s most recent launch marks a watershed moment. It echoes the increasing fascination with the merging of AI and blockchain technology. On Dfinity’s ICP testnet, the Internet Computer AI runs.

Similar to Flare, the native token of the Internet Computer, ICP, has also been seeing a price surge over the past seven days. According to data from CoinMarketCap, it has risen to $19.63 at the time of writing, representing a 74% increase.