The blockchain environment has developed over the decade. Most individuals believe it’s jumping in with various influential individuals in the ecosystem. Additionally, developers wanted to build their blockchain protocols. Therefore, Ethereum developed a mechanism that enabled DeFi devs to build applications on top of their network, hence called layer- 2 blockchains. Avorak is also a project that aims to promote these applications in a revolutionary approach through blockchain technology and artificial intelligence.
What is Arbitrum?
Arbitrum is a layer-2 blockchain application built on the Ethereum network. The decentralized finance asset aims to increase scalability, improve transaction speeds, and increase Ethereum’s security. The digital asset enables users to conduct transactions off the main network (Ethereum blockchain), conduct verification, and batch them before getting back to the Ethereum blockchain.
The ledger asset (arbitral) was coined by off-chain Labs, a blockchain development and research organization innovated in 2018 by Steven Golfeder, Ed Felten, and Harry Kalodner. The company’s first presentation was via an Arbitrum whitepaper (PDF). ARB is the native token of Arbitrum and has gained massive traction since its innovation. However, does it stand a chance against Avorak?
ARB Prize and Arbitrum Bridge
The Arbitrum bridge is a utility that enables patrons to transfer tokens from the Ethereum main chain to either the Nova or One Arbitrum networks. To address Ethereum’s scaling issues—slow transaction times and high gas costs—Offchain Labs launched the bridge as a layer-2 (L2) scaling solution.
There have been vast demands on whether the ARB coin will hit the $100 mark, raising alarms. However, crypto analysts have disagreed and stated that the Ethereum scaling solution token (ARB) will have difficulty reaching the value as traders should be realistic concerning digital asset future prizes.
Avorak Launching Cross-chain
Linking two or more wholly different blockchains is called “cross-chain” in the technical sense. This makes it possible for digital currencies that ordinarily remain isolated from one another to share data, knowledge, and transactions of digital assets. In this manner, Avorak has decided to enter the ecosystem with a new perspective in linking blockchain technology with artificial intelligence.
The process will occur by integrating the two technologies (blockchain and AI) with machine learning mechanisms, a concept that Arbitrum will struggle to keep up with. The ecosystem will be able to learn previous data systematically and develop possible futuristic suggestions. Moreover, participants will enjoy being part and parcel as activities such as image creation, creative writing, and trading will be conducted automatically through Avorak AI.
Trading occurs automatically when the Avorak trade mechanism learns previous data or conducts fundamental and technical analysis. It then comes up with technical indicators to help the participant execute trades. Users are then relieved from the market’s emotional and sentimental torture.
Moreover, creative writing has just gotten better; Avorak Write aims to provide an artificial-based machinery that generates writing or content. It is done through a pre-written scrappier method that is significant, unlike other AI chatbots that only utilize internet scrappers hence generating plagiarized work. Avorak Write will also conduct editing and check plagiarism in any written work.
Conclusion
Layer- 2 blockchains have emerged out of the blue to save the decentralized ecosystem. It can be attributed to higher gas fees, interoperability, and scalability problems in the layer-1 blockchains such as Ethereum. The problem seems halfway solved since the introduction of Avorak AI is set to improve cross-chain functionalities. Through the ML and AI mechanism, the project will attract global individuals who fear entering the crypto ecosphere. Therefore, there is a need to embrace the new revolution in AI cryptocurrencies.
For more information on Avorak AI:
Website: https://avorak.ai
Buy AVRK: https://invest.avorak.ai/register
