Artificial intelligence (AI) revolutionizes the management of the life cycle of the intelligent contract
The intelligent contracts industry has recorded rapid growth in recent years, with the adoption of blockchain technology and programmable contracts. However, the management of the life cycle of these complex digital resources can be a discouraging task for developers, administrators and auditors. This is where artificial intelligence comes into play (AI).
What are the intelligent contracts?
The intelligent contracts are self-execution contracts with the terms of the written agreement directly in lines of code. They are stored on a blockchain network, which allows them to be transparent, safe and tampering. The first successful intelligent contract, autonomous bitcoin, was launched in 2014.
Challenges in the management of the life cycle of the intelligent contract
The life cycle of an intelligent contract includes several phases, including:
- Distribution : transfer of the contract code from development to production.
- Activation
: initialization of the contract and configuration of its functionality.
- Maintenance : update and patching of the contract to ensure safety and compliance with regulatory requirements.
- Monitoring : monitor the performance of the contract and identify problems or errors.
The role of AI in the management of the life cycle of the intelligent contract
Artificial intelligence can help simplify these complex processes from:
- Predictive analysis : Identification of potential risks and vulnerability in intelligent contracts through automatic learning algorithms that analyze code models, transactions data and regulatory compliance.
- Automated test : using test framework guided by the AI to simulate various scenarios and identify the bugs, reducing the need for manual tests and increasing the overall quality of the functionality of the contract.
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- Continuous monitoring : monitoring of smart contracts in real time using monitoring tools based on artificial intelligence to detect potential problems or errors.
Life cycle management solutions of the intelligent contract fueled by artificial intelligence
Several companies now offer artificial intelligence -intention solutions for the management of the life cycle of the intelligent contract, including:
- Cataliasis : a blockchain analysis platform that provides predictive analyzes and automated tests for intelligent contracts.
- Elio network: a decentralized network of knots that trace the token movement on their blockchain, providing monitoring and warning systems in real time.
- Ethereum Labs : the official Ethereum project, which includes a suite of tools and libraries for the development and management of intelligent contracts.
Advantages of artificial intelligence in managing the life cycle of the intelligent contract
The adoption of intelligent contract life cycle management solutions fueled by artificial intelligence offers several advantages, including:
- Improved accuracy : Automated tests and predictive analysis reduce the probability of errors or bugs in intelligent contracts.
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- improved safety : monitoring and real -time warning systems help to identify potential safety risks before becoming problems.
- Conformity
: The solutions based on artificial intelligence ensure that intelligent contracts comply with the regulatory requirements.
Conclusion
Artificial intelligence is transforming the intelligent contracts industry by simplifying the management processes of the life cycle, improving accuracy, efficiency, safety and compliance. By exploiting solutions, developers, administrators and auditors based on artificial intelligence they can work more efficiently, reducing errors and guaranteeing the integrity of digital resources on Blockchain networks. As the use of the AI continues to grow, we can expect to see even more innovative applications in this space.