In an era where artificial intelligence increasingly challenges the trustworthiness of digital content, the Bitcoin network might offer a solution for ensuring data authenticity. Jeff Garzik, co-founder and CEO of Bloq, recently discussed with Cointelegraph how Bitcoin could address this issue.
Garzik highlighted the growing presence of AI-generated content online, which is overshadowing trusted sources of information. He emphasized that as AI continues to evolve, the importance of verifying the authenticity of data will only increase.
Garzik proposed using the Bitcoin network as a data anchoring layer, which involves recording the origin of data on a blockchain to confirm its authenticity. He argued that Bitcoin is particularly suited for this role due to its unmatched security and longevity: “The Bitcoin blockchain is most likely to be there in the next ten years – it’s the most secure blockchain on the planet, bar none. That’s where you want to be anchoring your data”.
Garzik also noted that many blockchain networks with high transaction speeds tend to “prune” their ledger data over time, making them unsuitable for data provenance, which requires permanent data anchoring.
However, directly anchoring data to Bitcoin’s base layer could lead to network congestion and higher transaction fees. To address this, Garzik’s team at Bloq has developed a layer-2 solution called Hemi. This network handles most of the traffic, while the Bitcoin base layer ensures secure final settlement.
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Using an analogy, Garzik compared the Bitcoin base layer to the top glass in a champagne tower, where layer-2 solutions manage the overflow, preventing congestion at the base.
Garzik concluded that this interaction between Bitcoin’s base layer and layer-2 solutions would reduce transaction fees while maintaining the network’s security.
Cre: cointelegraph.
I’m Jessi Lee, currently living in Singapore. I am currently working as a trader for AZCoin company, with 5 years of experience in the cryptocurrency market, I hope to bring you useful information and knowledge about virtual currency investment.
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