Implementing AI Techniques to Address the Challenges Surrounding Cryptocurrencies

Abstract

The research work is focused on examining the role of artificial intelligence (AI) in addressing challenges associated with cryptocurrencies like Bitcoin, Ethereum, etc. The popularity of Bitcoin has sparked the emergence of new alternative cryptocurrencies, commonly referred to as ‘altcoins'. Simultaneously with its growing popularity and public awareness, the Bitcoin system has been branded as a haven for security breaches, selfish mining, money laundering, extreme volatility, and unpredictability of future prices. To address these challenges, stakeholders accepting cryptocurrencies must apply AI techniques to process and analyze large amounts of cryptocurrency data. In this context, this chapter discusses the recent research work to assist the researchers and practitioners in the cryptocurrency domain to make fact-based decisions by using AI techniques. Consequently, the chapter provides a detailed review of the background on fiat currencies, cryptocurrencies, challenges associated with cryptocurrencies, and the role of AI techniques in addressing those challenges.