What is blockchain technology? Blockchain is essentially a database that maintains a continuously growing set of data records. The catch is that it is distributed — it does not need a master computer to hold the entire chain; instead, every participant, or node, has a copy of the ledger. One of the main advantages of blockchain technology is that it is ever-growing, meaning new data can continue to be added to the chain and available to all participants.
What does AIWORK have to do with blockchain? To start with, it is powered by blockchain. The project is a blockchain network that facilitates a marketplace of crowdsourced human-AI experts to help create, verify and validate AI data sets that make AI more intelligent. This network is focused on improving AIWORK’s AI, which creates better and normalized metadata for online video content. AIWORK relies on its unique structure to bring together a large pool of resources and the people who need access to those resources to tackle a problematic area of AI image recognition.
Introducing the Blockchain Powering AIWORK’s Infrastructure
AIWORK’s whitepaper states a decentralized, open-source blockchain protocol and ecosystem built on a consensus network of Artificial Intelligence (AI) computing resources and a community of human experts. This combination, as mentioned, is used to generate normalized and enhanced metadata for video content — an area that is still greatly lacking.
AIWORK is built on the Ethereum blockchain as well as Plasma Network. This structure enables all of the video metadata to be anchored to the Ethereum blockchain, which hosts the most prominent decentralized application (dApp) ecosystem — or the apps that use the data. By tethering all of the metadata to Ethereum, AIWORK ensures that these dApps there can easily access this data to use it and spend and earn AWO (AIWORK Tokens). As these tokens are used to reward participants, dApps that choose to use the metadata AIWORK generates can also become active participants in this ecosystem.
Further, AIWORK will benefit immensely from the Ethereum blockchain since, as a content creation project, they manage sensitive data in high volumes, track quality, and hold themselves accountable to the safety and regulatory standards in the video content industry. Ethereum is fully decentralized — meaning that no single actor has the power to access or delete this data — and is secure.
AWO, AIWORK’s token used to pay different contributors, is implemented as an ERC20 token on the Ethereum mainnet, while AIWORK is implemented on a Plasma Network. Plasma is a blockchain scaling solution designed by Joseph Poon and Vitalik Buterin. This solution enables the creation of “child” blockchains anchored to the “main” Ethereum blockchain. As Ethereum has become more popular, it has become more expensive to use, so relying on a child blockchain enabled by Plasma means that it will be cheaper for people to use AIWORK. However, they can still see the benefits of Ethereum — the security and robust ecosystem of dApps.
The Advantages of Merging Blockchain with Content Creation
The team behind AIWORK believes that blockchain has the potential to truly decentralize the Internet and online video, building more user-centered solutions and giving individuals more power over their content and data. On the other side, there is a need for normalized and enhanced video metadata, which the AIWORK platform can generate to expand the utility of different dApps and decentralized platforms.
Blockchain provides several essential functions to bring AIWORK’s vision to fruition. One of the benefits is its permissioning; for AIWORK, this is an added advantage. It relies on parties with different authorizations to join the network, upload content, and participate in divergent read, access, and write roles. The blockchain allows for a secure method for all actors to enter and earn the permissions they need.
This blockchain also provides unmatched privacy features that serve multiple purposes for the project, especially for specific transaction data that ought to be withheld from, or made available to, different participants.
Since online videos are already a massive industry, and AIWORK aims to change this content creation arena, it should become a busy platform. The Ethereum blockchain comes with unique performance attributes that ensure enterprises, like AIWORK, which process thousands of transactions per second, don’t face issues even with unprecedented surges in network activity. In addition, it allows for the dual approach that AIWORK takes, where the network of human experts sdelivers data to the AI system in the background. In contrast, the entire network can keep collecting, validating, and publishing an increasing volume of diverse transactions in the foreground.
AIWORK is forging new paths, building a platform set to compete with the likes of YouTube. However, being built on the Ethereum blockchain means that AIWORK’s services are pioneering the decentralized finance component of the video content space. Then, content creators using this platform can securely transfer large amounts of money. Payments in AWO tokens are fast and secure, and final, thanks to the Ethereum blockchain’s finality aspect.
The Success of Blockchain Technology
Blockchain technology gives businesses new opportunities, creating entirely new industries and business models. As we stand, blockchain technology is already disrupting entire sectors and inspiring actors to develop new technology and opportunities.
AIWORK is challenging both the crypto space and centralized systems by leveraging the services of the Ethereum blockchain with AI. By combining these two power-house technologies, AIWORK is creating the possibility for a new, decentralized platform that rivals the likes of YouTube by providing its users with more significant benefits and control over their data.