Using Artificial Intelligence to Build Cryptocurrency Exchange App

Posted by blockchainoodles on May 14th, 2019

AI power to Build Cryptocurrency Exchange App

Artificial Intelligence is the technology that enables machines to take the most appropriate decision as per the inputs to its system. Broadly, it is the technology that makes machines act like human beings. AI comprises numerous techniques implemented to make machines improve their responses by “learning from their own experiences” without human intervention. Neural Network is a primary mechanism behind this technology. While AI-powered Cryptocurrency Exchanges are now emerging trait in blockchain industry, leveraging techniques like neural networks to build cryptocurrency exchange app can lead to the creation of robust and futuristic platforms without any lackadaisical aspects.

Each programming language to build cryptocurrency exchange app has its own pros and cons. Although Python is considered the most appropriate language, it is found to be a slow option. Developers complain Python is five times slower than Java. Coding structure and syntax used in Java comes up as hectic tasks to deal with. New languages like Erlang, Go, F#, are being used, but they restrict themselves in terms of scalability. And the basics like C++ becomes limited to implement new features in the exchange. However, any programing language can be used alongside Artificial Intelligence-based techniques.

AI can provide the strongest algorithmic model to develop a trading platform. The technology can be employed in the mathematical modeling of the exchange. AI-powered Mathematical Model, in return, creates a strong Algorithmic trading model. The organizational structure of the exchange can be determined by efficient mathematical modeling. This structured model of the exchange can be implemented by using any appropriate programing language.

Breaking down a Cryptocurrency Exchange App

Although a cryptocurrency exchange can have many features and innovative aspects, it comprises the basic blocks that assist in seamless trading. The display and information on the UI help to make accurate decisions. The fundamentals of an exchange can be divided to — an ordering panel, a panel for comparison of currencies and the history charts, which helps in forecasting and market prediction. In AI-powered exchanges, the technology is used for accurate prediction and forecasting as per historical trends and traits. To build a cryptocurrency exchange app, these basics are to be developed with utmost caution.

Mathematical Modelling for User-friendly Workflow

Using AI to develop exchanges is like leveraging the advantages of the technology beforehand in the platform to provide advanced features for users. Leveraging AI-powered Mathematical Modelling will help to create an accurate roadmap for developing an exchange application. AI engines can work on large data sets to simulate the trading behavior of consumers both across time and platforms. Datasets fetched by AI engine can be used to determine the parameters to implement in the platform. Mathematical modeling can solve complex market models and set an effective algorithm for a comprehensive workflow. This will offer a seamless experience to consumers making the platform highly user-friendly. AI-based mathematical modeling can impact the development of statistical monitoring and infographics positively in the exchange.

Apart from implementing AI in the exchange application, AI should be leveraged from the scratch to develop such platforms. This will ensure a strong integration of AI in the application. An efficient implementation of AI will ensure maximum utilization of its features in decision making for both the platform as well as its users. The best way to implement AI in exchanges is to use AI in developing them.

Source:https://blockchain.oodles.io/blog/artificial-intelligence-build-cryptocurrency-exchange-app/