Irish space scientists develop new project using AI to forecast space weather

Space scientists from the Dublin Institute for Advanced Studies (DIAS) have developed a new project, using artificial intelligence, which will allow them to give faster and more accurate warnings about powerful explosions on the Sun, known as solar flares.

Solar flares can disrupt vital technologies and infrastructure, including radio communications, electrical power grids, navigation systems and pose risks to spacecrafts and astronauts.

This new project, called ‘Active Region Classification and Flare Forecasting’ (ARCAFF), will use a special kind of artificial intelligence known as ‘deep learning’ to make better predictions than what is currently used in operational forecasting centres. It will also provide information about how certain the predictions are – information which is not currently available.

Commenting on the project, Dr Shane Maloney, Senior Research Fellow at DIAS and Project Lead for ARCAFF, said “As scientists, we have long been predicting the weather, but now we also have the ability to predict events happening much further away on the Sun.  It may seem like these events have little effect on our daily lives, as we are largely protected from the Sun’s harmful radiation, by the magnetic field around the Earth. However, solar flares emission can change the atmosphere and create technological issues, like interfering with radio communication and GPS on Earth. They can also create beautiful displays in our night skies like the Northern Lights or aurora borealis.

“Space weather covers a variety of phenomena that occur because of the Sun’s turbulent behaviour, and its predictions are becoming more important as we further advance technology. Studying these space weather events helps us learn more about the Sun and better predict space weather. The new ARCAFF system will be more accurate and faster at giving us warnings about solar flares – which will greatly benefit space weather forecasters who provide guidance to spacecraft operators, and the power and aviation industries that are impacted by space weather.”

Also commenting on the ARCAFF project, Prof. Peter Gallagher, Head of Astronomy and Astrophysics at DIAS, said “The ARCAFF project is unique as it brings together science, analytics, and computing experts to work together in creating an advanced system to forecast solar flares. It has been an excellent opportunity for cross-disciplinary collaboration in DIAS and across the various partners involved.

“As well as being faster and more accurate at predicting solar flares, ARCAFF will make new datasets and software available for scientists to use, and the outputs of the project will be freely available online. We are also excited to educate the wider public about space weather and how it impacts Ireland and Europe, through our public engagement hub at DIAS Dunsink Observatory.”

The ARCAFF team includes partners across Europe that combines expertise in the fields of solar physics, machine learning, and computer science, including:

  • DIAS – solar physics and space weather forecasting experts;
  • Università di Genova in Italy – machine learning experts;
  • University of Westminster in the UK – science gateway development experts;
  • SZTAKI in Hungary – science gateway development experts.

The project is funded by Horizon Europe. Further information can be found here.

Ethereum Price Prediction & Forecast for 2023-2024

Ethereum is set to experience significant changes in the upcoming years as it already transitioned from a Proof of Work consensus mechanism to Proof of Stake. This change will significantly improve the energy efficiency of the cryptocurrency and will also enhance its ability to handle thousands of transactions per second, making it more ready for the future.

However, the question remains, will these improvements also affect the price of Ethereum? In this article, we will explore the expectations for the next several years and provide Ethereum price predictions for 2023 and 2024.

What Is Ethereum?

Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps). It was first proposed in 2013 by Vitalik Buterin, a young programmer and cryptocurrency enthusiast.

Unlike Bitcoin, which is primarily used as a digital currency, Ethereum is designed to be a platform for building decentralized applications (DApps) using smart contracts. Smart contracts are self-executing contracts with the terms of the agreement directly written into lines of code. They allow for the automation of digital asset management and can be used to create a wide range of decentralized applications, such as digital identities, prediction markets, and decentralized finance (DeFi) platforms.

Ethereum also has its own native cryptocurrency called Ether (ETH), which is used to pay for transactions and computational services on the network. The Ethereum network also enables the creation and issuance of custom digital assets, called ERC-20 tokens, that can be used to represent digital assets such as stocks, bonds, and other forms of financial instruments.

Ethereum is a major player in the crypto market and it is the second most valuable cryptocurrency after Bitcoin. It’s considered as the backbone of many decentralized finance (DeFi) projects and non-fungible tokens (NFTs) marketplaces.

What Factors Affects on Ethereum Price in the Future?

There are several factors that can affect the price of Ethereum in the future, including:

  1. Market sentiment: This refers to the overall attitude of investors towards Ethereum. Positive sentiment can drive the price up, while negative sentiment can drive it down.
  2. Regulatory environment: Government regulations can have a big impact on the price of Ethereum. For example, a crackdown on illegal activities involving Ethereum can lead to a decrease in its price.
  3. Economic conditions: Economic conditions, such as interest rates, inflation, and GDP growth, can affect the demand for Ethereum.
  4. Adoption and usage: The more people use and accept Ethereum, the more valuable it is likely to become.
  5. Technology developments: New updates and developments in the technology behind Ethereum can also affect its price.
  6. Competition: As the crypto market is relatively new, the competition among different cryptocurrencies is intense, and the emergence of new projects, with new features and technology, can affect the price when you buy Ethereum.
  7. Media coverage: Media coverage can also play a role in shaping public perception of Ethereum and influencing its prices.
  8. Ethereum’s upgrade: Ethereum upgraded its network from a proof of work (PoW) consensus mechanism to proof of stake (PoS) consensus mechanism, this could change the way the network works and it could have an impact on the price.

It’s important to note that these factors can interact in complex ways and it’s not always clear how they will impact the price of Ethereum in the future. Additionally, it’s important to keep in mind that crypto prices are highly volatile and can be affected by a wide range of factors, and past performance is not indicative of future results.

Ethereum Price Prediction 2023

Technical analysis of Ethereum prices for the year 2023 predicts that the minimum cost for one Ethereum will be $2,348.78. The maximum price that Ethereum can reach is forecasted to be $2,749.12. The estimated average trading price is $2,427.59. These predictions suggest a potential return on investment (ROI) of 68.1%.

In summary, based on the technical analysis, Ethereum’s estimated cost for 2023 is expected to be between $2,348.78 and $2,749.12, with an average price of $2,427.59. The potential return on investment is projected to be 68.1%. However, it’s important to note that these predictions are not always accurate and there are many factors that can affect future asset prices, it’s advisable to do your own research and consult financial experts before making any investment decisions.

Should I Invest Money in Ethereum?

It’s important to remember that investing in cryptocurrencies, including Ethereum, is highly speculative and comes with a high level of risk. Cryptocurrency prices are highly volatile and can be affected by a wide range of factors, including market sentiment, regulatory changes, and global economic conditions.

Before making any investment decision, it’s important to understand the risks involved and have a clear understanding of your investment goals and risk tolerance. It’s also important to do your own research and consult with a financial advisor to determine if investing in Ethereum is a suitable investment for you.

It’s also important to diversify your investments and not to invest more than you can afford to lose.

Where Can I Get the Best Price for Ethereum in 2023?

The price of Ethereum can vary across different cryptocurrency exchanges, like: Binance, Coinbase, Redot, etc.. The best price for Ethereum will depend on factors such as the exchange’s trading volume, liquidity, and fees. To find the best price for Ethereum, you can compare the prices across different exchanges and choose the one that offers the most favorable terms.

It’s important to note that while centralized exchanges, such as Binance, Kraken, and Bitfinex have high trading volume and liquidity, they may require users to go through a KYC (Know Your Customer) process and may also be subject to regulations depending on the jurisdiction in which the exchange operates. Decentralized exchanges (DEXs) like Uniswap, Sushiswap, or 1inch, allows you to trade Ethereum without the need of passing the KYC process and are also less regulated.

Before you start trading, you should also consider the fees, security and other features of the exchange. It’s advisable to compare the prices of Ethereum on several exchanges and choose the one that offers the best price and that is most suitable for your needs.