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- NeuroChain project believes that modern blockchain is still slow and unable to scale adequately.
- The project has envisioned a solution in the form of collective intelligence, achieved through digitalization.
- NeuroChain is moving towards this goal, it launched its community-driven smart contract app.
Blockchain technology has come a long way over the past several years, particularly since came into the light of day following the biggest crypto bull run in history, which took place in 2017. However, the modern-day blockchain is still not at its fullest potential, and it still has many limitations. This is something that projects like NeuroChain aim to change.
NeuroChain mission and goal
NeuroChain believes that blockchain is still far too slow, unsustainable, and not scalable enough. It plans to change this with its own advanced technology, which is still in development, but the project is making progress.
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This is a five-year project, which has decided to take an alternative approach to blockchain, basing it on intelligent decision-making mechanisms.
NeuroChain’s blockchain is composed of two components — Bots, as well as a set of rules represented by scalable and flexible protocols, including Proof of Involvement and Integrity, as well as Proof of Workflow.
The company’s mission is to achieve collective intelligence, which will be the result of every citizen’s contribution. As a result, it will build a fair ecosystem that will deliver a protocol for creating simple, but scalable business applications.
COVID-19 pandemic shows the importance of collective intelligence
The project has been progressing slowly, although it still follows its roadmap to the letter, currently focusing on digitalization. This is particularly important given the global pandemic of 2020, when digitalization provides the world with the ability to share and enrich data and information. Information sources, as well as interaction needs, are multiplying, as the project noted.
There is a great need for geolocation, medical data, and feedback from the field to interact, which is essential for handling the COVID-19 pandemic. This is why focusing on responsible digitalization is more important than ever.
To help achieve this, the project has already launched its Neurochain Token App, and moving forward, it aims to deliver other distributed smart applications, and eventually, to introduce the NeuroChain V2 collective artificial intelligence feature, which is expected to come by 2023.