In this exclusive interview with Blockchain Reporter, Igor Bershadsky, Co-founder of PhronAI, delves into the groundbreaking integration of AI in blockchain technology. He explains how PhronAI’s dynamic consensus mechanism, driven by AI, is revolutionizing blockchain security and efficiency. Bershadsky also discusses the challenges of developing solutions at both Layer 0 and Layer 1, the future of low-code environments in blockchain, and the advanced AI-driven security features that safeguard PhronAI’s network. This conversation provides insights into the innovative strategies PhronAI is employing to stay at the forefront of blockchain technology.
1) Could you explain the role of AI in PhronAI’s dynamic consensus mechanism? How does it enhance the security and efficiency of blockchain transactions compared to traditional methods?
PhronAI was conceived as a means to solve for the lack of an automated and dynamic governance mechanism in modern blockchain networks. By integrating AI into the PhronAI blockchain, we have established a proprietary dynamic consensus mechanism that leverages AI to optimize blockchain operations fundamentally. This system helps predict transaction volumes and potential security threats in real-time, allowing our network to adjust the consensus requirements to maintain optimal performance and security. This core AI technology, which we have named Phronesis, enables processing times under 0.9 seconds at an average cost of $0.00001 and maintains a throughput of 31,000 transactions per second, achieving unparalleled network scalability without congestion.
Furthermore, the integration of AI enables the network to analyze large datasets and streamline the decision making process. This sets up the right foundation of data privacy, security, and transparency which can empower the devops community to build intuitive and purposeful DApps, without burning too much investment.
2) Can you detail how PhronAI’s AI-driven consensus mechanism adapts to changing network conditions? What are the specific machine learning techniques used to enhance consensus accuracy and reliability?
Our dynamic consensus mechanism follows a deep neural network architecture tailored for node type detection in blockchain networks. The model comprises multiple layers, including input, hidden, and output layers. By utilizing dense layers and appropriate activation functions, this enables us to capture intricate patterns and relationships within the input data. It helps that we have embedded our network the Isolation Forest (IF) algorithm, which lets us detect anomalies and maintain reliability. The result is that our network constantly learns from transactional data and network performances to enhance consensus accuracy.
3) Could you discuss the technical workings of dynamic staking within PhronAI’s platform? How does it adjust to market conditions and participant behavior to optimize rewards and network security?
Dynamic staking in PhronAI’s ecosystem is engineered to intelligently adapt to fluctuating market conditions and user behaviors. Phron utilizes Adaptive AI Staking (AAIS), which is an innovative approach to blockchain staking that leverages artificial intelligence (AI) algorithms to dynamically adjust staking parameters based on real-time network conditions, user behavior, and market dynamics. This allows our network to dynamically tailor staking parameters to individual preferences, risk tolerance, and investment goals. Users have the flexibility to customize their staking preferences and adjust parameters such as staking duration, reward distribution frequency, and withdrawal options to suit their needs.
4) Developing solutions at both Layer 0 and Layer 1 presents unique challenges. How does PhronAI address the complexities involved in ensuring these layers work seamlessly, especially when integrating AI functionalities?
PhronAI uniquely addresses the intricacies of operating across Layer 0 and Layer 1 technologies by deploying AI-driven automation and synchronization. At present, our L1 is fully functional, with over 500,000 registered wallets. We’re building the L0 which will be a gamechanger in low-code development for the devops community.
Our approach of integrating AI into our consensus mechanism is also crucial towards our suite of features, including the Dynamic Node Ranking LTFM Protocol.
Eventually, having a foundational L0 and our own L1 will enable us to set up cross-functional communication between these layers which are synced and seamlessly operable.
5) How does PhronAI envision the future of low-code environments for the developer ecosystem? Does it significantly shorten the development cycle for blockchain applications?
PhronAI is pioneering the future of low-code development platforms in the blockchain space, envisioning a world where developers can rapidly build and deploy blockchain solutions with minimal coding required. Our platform integrates advanced AI to provide intuitive design tools and automated code generation, which drastically cuts down development time and opens up blockchain technology to a broader audience of innovators who may not have traditional coding expertise but have valuable ideas for blockchain applications.
6) Looking forward, what enhancements or advancements in AI technology is PhronAI considering to further improve its blockchain solutions? Are there new AI models or algorithms you are looking to integrate?
AI technology needs to be deeply researched and updated continuously to ensure a safe and ethical environment. Looking forward, we are going to increase the exposure to research and development through university programs for the area of artificial intelligence implementation to blockchain technology to have a collaborative space to expand the current appliances with new models that might fit to the future of Phron AI environment.
7) With increasing cybersecurity threats in the blockchain space, what specific AI-driven security features has PhronAI developed to safeguard its network and user transactions?
We take cybersecurity very seriously. Having worked with some of the biggest names in this space, I’ve extended my experience here to develop a robust set of AI-driven security features to safeguard the PhronAI network from threat actors. We have incorporated predictive analytics to assess vulnerabilities and anticipate potential attack vectors before they are exploited. This proactive approach not only enhances the security of the network but also ensures that user transactions and data stay protected. Through these AI-driven mechanisms, PhronAI aims to maintain a secure and resilient blockchain environment.
8) Interoperability is a significant challenge in blockchain. How does PhronAI’s architecture ensure compatibility with other blockchain systems, particularly when leveraging AI for cross-chain interactions?
Interoperability is the tool that will allow blockchain to become widely accessible, hence why our priority on our Layer Zero became a necessity. Our technology allows the different chains under it to interact directly between each other through blockchain functions directly. This erases the security vulnerabilities that bridges possess when establishing a connection between other networks.
Spokesperson Bio:
Igor Bershadsky, Co-founder of Phron AI, is a Dubai-based web3 entrepreneur with a robust foundation in cybersecurity and blockchain. He previously served as Director of Business Development and Partnerships and now serves as a Regional Advisor at Hacken, where he was involved in blockchain security challenges and solutions. Apart from his stint with Hacken, he has held impactful positions such as Head of Helasoft Cybersecurity Services, CEO and Co-Founder of TowerFox, LLC, and COO at the International Cybersecurity Center, where he shaped security strategies and managed operations effectively.
About PhronAI:
PhronAI is building the first Layer 1/Layer 0 EVM Chain with a Proof-of-Learning AI Consensus Mechanism, revolutionizing blockchain by integrating advanced AI into consensus and enabling users to create dynamic Layer 1 blockchains.
The network’s key features include Proof-of-Learning Consensus Mechanism for dynamic performance, PhronZero for quick Layer 1 blockchain creation, reduced latency in transaction confirmations with AI-driven optimization adapting to fluctuating demands, built-in integration of AI Models utilizing Convolutional Neural Networks (CNN) for block sequence management and auto-response risk mitigation, monetization of AI solutions for Layer 1 and a comprehensive ecosystem including PhronScan, PhronSwap, and PhronBridge.
With over 1 Million in wallets and total transactions, PhronAI has been registering daily transactions upwards of 75,000. Founded by Igor Bershadsky and Guillermo Guimaraes, the company has raised over $5 million from a consortium of family offices, with its advisors including Sander Görtjes of HELLO Labs, Dariia Vasylieva of FD Capital and Nikita Sachdev of Luna Media Corporation.