With strict capital controls in place by most countries to control the flow of money and charge high taxes, cryptocurrency gained usage in circumventing capital controls and taxes, leading to an increase in demand. Cryptocurrency has been able to present an easy to use digital alternative to fiat currencies. Offering frictionless transactions and inflation control, investors have been prudent enough to add these currencies in their diversified portfolios as an asset, as the size of the market does not represent a systemic risk. Cryptocurrency employs the use of cryptography that assures high-security processes and verifies transactions personal to each user. Hence, counterfeiting and anonymous transactions are impossible to achieve.
While this revolution is gaining wide acceptance, Bottos, an infrastructure that focuses on the field of artificial intelligence has arrived.
"According to Deloitte, the cost of validating and sharing blockchain transactions is around $600 million. The energy consumed of running this hardware results into high cost and wastage is another problem. Whenever any transaction occurs, multiple miners try to verify it which means tons of energy is wasted. AI has the potential to optimize this process and decrease the cost of mining.
Moreover, Blockchain keeps all information from the launch which results in the longer and heavier chain. In such scenario, AI can help blockchain to make a smarter decision about data storage and maintenance by utilizing machine learning algorithms."
With that being said, Bottos is not only an artificial intelligence public chain, but also has data and model circulation services, realizing the artificial intelligence generated by data feeding and the value transfer of its derivative industries, and finally forming a distributed AI new ecology.
But before we go any further, please check out this video presentation to get even more acquainted
Now that I have your attention, let’s get right to it.
What exactly is Bottos?
As depicted above and as indicated on the official website of Bottos, Bottos is an infrastructure that focuses on the field of artificial intelligence. It has both a low-level public chain designed specifically for data characteristics and a data flow platform for the entire artificial intelligence and its derivatives. A consensus-based, scalable, easy-to-develop, and collaborative one-stop application platform for data, models, computing power, and storage of multi-tier shared services through data mining and smart contracts.
Bottos can be applied to big data, artificial intelligence, intelligent hardware, Internet of Things, VR / AR and other fields.
Today, data for fueling these technologies is an underground war between tech titans that occurs in stealth mode under the veil of free application services. When we are using Google search, or using our Android smartphones, shopping online on Amazon our user activity is tracked, monetized and sold for future digital advertising. Bottos ushers in the future of data which eliminates middlemen and involves an open peer-to-peer data sharing economy. To achieve this, Bottos will incentivize users to share high-quality data, a process referred to as data mining, and through its pre-set data pricing models, availing the data to interested parties.
Bottos promotes user privacy by giving them 100% authority over their data. The use of blockchain technology as a protocol for encrypting data enables innovative decentralized tamper proof data storage and further ensures data security in transmission
Overall this reduces the trust cost of sharing that data and to facilitate the large scale collaboration of data. Data is associated with an unforgeable digital signature.
The use of blockchain technology is the glue that facilitates everything in the Bottos AI ecosystem. Smart contracts facilitate everything in a trustless manner from the submission and reward of high-quality data to data storage and request of access to this data. At its core, the Bottos public chain is designed for artificial intelligence. With four main features:
Data sharing across a decentralized network
Credibility system through data and model tracking
Tamper-proof data and model register embedded in decentralized data marketplace
The hardware component of the Bottos ecosystem will play a number of important roles:
With IoT and robots serving as ‘intelligent hardware’ through mining
Acceleration of creation of advanced robots through a ‘universal robot ledger’ on the main chain, for registration and management of robots. Only the most advanced and working robots which have passed safety standards certification can qualify for this.
To achieve this, Bottos will create a top-down robotics ecosystem from crowdfunding robotics startups, enabling startups to grow through plugging in the Bottos ecosystem to obtain valuable data and also creating valuable open source models and so on.
The Bottos Virtual Machine is the bottom layer, compatible with Ethereum Virtual Machine.
Dapps will be developed on the application layer of Bottos architecture for relevant fields such as artificial intelligence, robotics, IoT. To further differentiate their interaction with the platform, Bottos will develop exclusive channels that are specialized for each of these fields. Bottos, the community and third parties can develop applications on top of Bottos.
The first Dapp to be developed on Bottos is Project X.
Consensus – DPOS with Byzantine Fault Tolerance
Bottos consensus algorithm is DPOS with Byzantine Fault Tolerance.
Bottos only supports one vote per user. In addition, voters cannot delegate votes or even retake them once cast.
Bootstraps node failures through an algorithm that selects substitute nodes from 49 candidates in a decentralized manner. In the test network, transaction speed reached up to 4000 TPS.
Up to over 300, 000 registered users with 50k of those active daily. Image mining and content distribution are supported
Bottos has integrated novel features to blockchains such as:
Convenient account system: think of HTML and CSS
One-click node deployment
On-demand service access
Flexible and secure mass storage
Multi-value smart token design
Steps to ensure secure mass storage include:
Two types of nodes:
Storage-lock tokens to show responsibility for data provided
Multilevel data backup for highly secure content. Of course this comes at an extra cost.
Intelligent data fragmentation technology – only users can obtain and re-group the data to reconstruct it to make sense. Therefore, even leaked data cannot be interpreted.
Secure storage. Sliced data is stored in different storage nodes around the world.
Be a part of this incredible project. Download the whitepaper for the full scoop.
Till next time…
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Disclaimer: This article was published in terms of the bounty campaign. I am not a project team member or its representative but a supporter of this incredible project.