What Does SingularityNET Mean?

SingularityNET is a decentralized artificial intelligence (AI) marketplace that leverages the power of blockchain technology to provide unrestricted access to algorithms and applications. The main goal of SingularityNET is to create Artificial General Intelligence (AGI) with far-reaching capabilities.

The SingularityNET platform was co-founded by Dr Ben Goertzel and Dr David Hanson in 2017. Hanson is also the founder and CEO of Hanson Robotics, which is best known for developing Sophia a humanoid robot that first introduced the world to the power of AI.

Since SingularityNET is hosted on the Ethereum and Cardano blockchains, developers can publish their creations to be used by anyone, whether that be other individuals or commercial enterprises. The native token of SingularityNET is AGIX, which is used to pay for transactions within the platform.

SingularityNET was one of the first companies to merge the worlds of artificial intelligence (AI) and cryptocurrency. By harnessing the power of the blockchain, SingularityNET seeks to democratize AI and provide a collaborative environment where developers can learn from each other and build better systems.

Over 70 useful AI services are already available on the SingularityNET marketplace, created by developers worldwide. These services include multilingual speech translators, real-time voice cloning, speech command recognition, neural image generation, and more.

SingularityNETs user-friendly interface makes these services accessible to everyone, regardless of their knowledge of the space. Most services also have a demo functionality, meaning users can test its features before purchasing the complete system.

One of SingularityNETs key features is that it employs the help of smart contracts to provide a fair environment for all stakeholders. These smart contracts are mainly involved in the exchange process when a user (or users) wants to gain access to a developers creation.

Since smart contracts are self-executing, developers can set them up so that users can only access the AI system if they follow specific guidelines. For example, the system may only be able to be used for a certain amount of time or for particular tasks.

The use of smart contracts within the SingularityNET platform is one of the key reasons for its success. Developers can focus on the areas they excel in (e.g. building and iterating systems) without having to deal with the other requirements involved in the exchange process.

These smart contracts also tie into SingularityNETs decentralized nature. Since theres no intermediary between developers and users, no one entity can control or take away access. Moreover, the developer sets the price for access to their creation this price is automatically enforced by smart contracts.

AGIX is SingularityNETs native utility token and has various use cases within the platform. These include:

The primary use case for AGIX is allowing SingularityNETs users to pay for AI services and products on the marketplace. Since AGIX is an ERC-20 token, developers can use their accrued funds on other Ethereum-based decentralized applications (dApps) or even exchange these funds into FIAT for use in the real world.

Although initially reserved for one blockchain, AGIX now has multi-chain compatibility. This means token holders can use it for transactions on various blockchains, including Cardano, Polygon, and Binance Smart Chain.

By creating a frictionless platform for developers and users to come together, SingularityNET aims to create a mutually-beneficial environment that will speed up the growth of AI. SingularityNETs ultimate goal is to create an Artificial General Intelligence (AGI) system that isnt confined to one set task.

AGI systems function like a human. This means they can perform a wide array of tasks and even adapt to new tasks. Moreover, AGI systems have inherent learning capabilities, which means they can improve themselves without human input.

Many experts believe creating a comprehensive AGI system is still years (if not decades) away, given the technological and moral challenges involved. However, SingularityNET hopes to overcome these challenges through the holistic learning environment offered by its platform.

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What is SingularityNET? Definition from Techopedia - Techopedia

The Ethereum blockchain remains the dominant operating system for decentralized finance, or DeFi, because few alternatives existed until recently, Bank of America said in a research report Tuesday.

The bank, however, said it expects Ethereum adoption and usage to decelerate if the blockchain is not able to increase its "throughput," adding that application developers will probably choose other networks to build on. In crypto, throughput refers to the number of transactions a blockchain can complete per second.

We view Ethereums long-term viability as dependent on its ability to fulfill the vision laid out in its road map, which includes implementing sharding architecture to expand its throughput capacity significantly, analysts Alkesh Shah and Andrew Moss wrote.

Bank of America noted that Ethereums smart contract-enabled platform gave it a first-mover advantage as app developers gravitated to the platform, which led to network effects as the number of decentralized apps (dapps) and users grew.

That early success, however, was a double-edged sword as the large number of transactions resulted in network congestion and surging transaction fees, the note said.

A dapp is an application that uses blockchain technology to keep users' data out of the hands of the organizations behind it. Smart contracts are computerized blockchain protocols that execute terms of a contract.

As in prior tech cycles (PCs, software, internet), new projects are likely to emerge and poorly positioned projects will exit, the note added.

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Ethereum Usage Will Drop If the Blockchain Doesnt Boost Speed: Bank of America - CoinDesk

PwC to Become a Technology Integration & Development Partner with Chainlink Labs

SAN FRANCISCO, March 22, 2023 /PRNewswire/ -- Chainlink Labs, a developer of Chainlink, the industry-leading Web3 services platform today announced that it has entered into a strategic joint business relationship with PwC Germanyto help accelerate enterprise blockchain adoption.

The fastest-growing network of enterprise oracle nodes - Chainlink offers the most time-tested oracle infrastructure for helping enterprise systems securely access the rapidly growing blockchain economy.

In this collaboration, Chainlink Labs will help empower companies working with PwC Germany that want to interface with the blockchain economy but lack the expertise to develop smart contracts and operate node infrastructure. PwC adds its strong technical expertise and regulatory understanding as a lever to help customers to develop compliant and secure smart contracts and operate infrastructure. Supported by the expertise of both organizations, enterprises will be assisted in developing bespoke blockchain solutions that harness the power of Chainlink middleware.

Blockchains and smart contracts are poised to fundamentally reshape global industries. However, enterprise blockchain adoption has historically been hindered by technical hurdles such as a lack of secure connectivity between enterprise systems and blockchains and limited interoperability between various on-chain networks. As the market-leading blockchain middleware for the entire Web3 ecosystem, Chainlink helps reduce the complexity of blockchain technology for enterprises, helping them unlock its potential for generating business productivity and profitability.

PwC Germany has been involved with blockchain technology through developing in-house blockchain solutions such as Blockchain Explorer and Transaction Analyzer BETA, Tokenization Framework, Smart Contract Formal Verification Framework, Digital Asset Valuation Model and Travel Rule Integration. They also provide an array of services such as technology assessment and strategy, ecosystem management, technology consulting, and more. The organization's recent report "Time for Trust" further highlights how blockchain technology has the potential to bring fundamental changes to the corporate world, to economic processes, and to society as a whole.

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"We're pleased to enter into a strategic partnership with Chainlink Labs as integration & development partner to help accelerate the enterprise adoption of blockchain technology" said Dimitri Gross, Technology Interest Group Lead for Digital Assets and Crypto at PwC Germany. "PwC Germany and Chainlink Labs aim to help accelerate enterprise adoption of blockchain technology in key enterprise sectors such as capital markets, ushering in a new era of transactional security, transparency, and efficiency. We are excited to empower businesses with the knowledge, integrations, and solutions they need to seamlessly and securely interface with the growing blockchain economy."

"We're excited to support PwC Germany through this strategic collaboration, which will help enterprises securely connect their existing systems to all major blockchain networks," stated William Herkelrath, managing director of business development for Chainlink Labs. "By interacting with the blockchain economy through Chainlink, enterprises can begin realizing the transformative power of smart contracts and blockchain oracles."

About Chainlink

Chainlink is the industry-standard Web3 services platform that has enabled trillions of dollars in transaction volume across DeFi, insurance, gaming, NFTs, and other major industries. As the leading decentralized oracle network, Chainlink enables developers to build feature-rich Web3 applications with seamless access to real-world data and off-chain computation across any blockchain and provides global enterprises with a universal gateway to all blockchains.

Learn more about Chainlink by visiting chain.linkor reading the developer documentation at docs.chain.link. To discuss an integration, reach out to an expert.

About PwC Germany

Build trust in society, solve important problems.

When it comes to auditing and advisory, PwC supports clients of all industry fields to reach their goals. We advise corporations as well as family-owned companies, industry- and service companies, global players and local heroes, the public sector, organisations and NGOs. With our know-how and our expertise, around 600 partners and more than 13,000 experts in 21 locations in Germany support our clients in terms of finding solutions for complex questions in a world changing rapidly in line with our purpose statement "Build trust in society, solve important problems".

Cision

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Chainlink Labs and PwC Germany Announce Strategic Joint Business Relationship To Accelerate Enterprise Blockchain Adoption - Yahoo Finance

Bitcoin (BTC) focused Decentralized Finance (DeFi) protocol RSK Infrastructure Framework (RIF) is seeing a massive upsurge today following the recovery of the broader digital currency ecosystem. With the combined crypto market cap jumping 3.54% to $1.18 trillion over the past 24 hours, RIF has bullishly tapped into the trend.

RIF is currently changing hands at a spot price of $0.1847, up by 3.62% over the past 24 hours and by more than 95% in the trailing 7-day period. Among the top altcoins showing a steep correlation with Bitcoin, RIF seems to be trending more as it is riding on the premise to bring smart contract capabilities to the worlds largest cryptocurrency network.

The emergence of the RSK Infrastructure Framework protocol marked an ambitious attempt by any project to propound the utilities of Bitcoin. The project was conceived by IOVLabs in 2019 and is currently based in Gibraltar. Since its inception, IOVLabs have been able to build one of the crypto ecosystems first Layer-3 networks on Bitcoin.

Layer-2 protocols are what is common and they generally tend to enhance the transaction speed on their base protocols by a very significant mile with transaction speeds also poised to go lower. Layer-3 is an even better improvement and it leverages the security and broad acceptance of the Bitcoin blockchain.

Bitcoin was designed by Satoshi Nakamoto to be a predominantly payment network, however, its usage over the years has grown beyond comprehension. Over the years, Bitcoin has now been considered a very viable hedge against inflation, competing with legacy assets like Gold amongst institutional investors.

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MicroStrategy Incorporated, an American business intelligence and software firm has made its mark as one of the biggest proponents of Bitcoin and over the years, the company has accumulated more than 140,000 Bitcoin units. While these gestures are helping to push the boundaries of Bitcoin, a whole new dimension is being charted by IOVLabs.

The digital currency ecosystem has evolved a great deal over the past few years and the most versatile protocols are now marked by the nature of functionalities they brandish, through the DApps that are resident on them.

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Bitcoin is not designed to accommodate smart contracts and RSK Infrastructure Framework is helping to bridge this deficiency with its technology. While RSK is not the only outfit pushing this milestone as Stacks (STX) is also doing the same, it is by far one of the few directly leveraging the security and decentralization of Bitcoin to chart its development.

The token has benefited from its alignment and business strategy since the start of the year. With its latest milestones, showcased by the growth in the DeFi TVL on the protocol, RIF has seen more than a 347% growth in the Year-to-Date (YTD) period. Should its operations expand over the years, it may soar much more in the near future.

Crypto News Flash does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. Crypto News Flash is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.

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DeFi protocol pushing Bitcoin (BTC) boundaries in smart contract ... - Crypto News Flash

The Ethereum cryptocurrency network has a massive update due in April 2023 called the Shanghai upgrade. The Shanghai upgrade is a hard fork. It will radically change the blockchains protocol - hopefully for the better.

Ethereum is no stranger to huge updates like this, seen by their switch to proof-of-stake. All signs point to The Shanghai upgrade significantly benefiting the blockchain and it comes as a result of ETHs liquid staking consensus mechanism.

But how will this affect your crypto wallet exactly?

The Ethereum Shanghai upgrade is a series of upgrades. The Ethereum developers will implement them at once. To understand this upgrade's significance, it's important to know Etherem's history. This upgrade is the result of several past changes to Ethereums network.

Ethereum started in 2015 as a proof-of-work (PoW) cryptocurrency, just like Bitcoin. This method involves spending time and energy to solve complex math formulas. Using sophisticated technology, miners who solve the formulas receive crypto rewards. This type of consensus mechanism has some downsides, though.

PoW is energy-intensive and made scaling hard for the blockchain.

Suggested reading: Proof-of-Work vs. Proof-of-Stake: The Ultimate Guide

After many test runs, ETH switched to the proof-of-stake (PoS) mechanism in 2020. This hard fork change is now called "the Ethereum Merge." This made the blockchain more secure, and eco-friendly and improved scalability.

The Merge allowed Ethereum validators to stake their crypto in the blockchain for passive income. At the time, they could not withdraw their ETH from the blockchain. The funds were locked to support the network. This method is similar to a high-yield savings account in a traditional bank. Holders with stakes in ETH could also vote on future blockchain changes.

The PoS system still had one big negative, though - cost. To join the Beacon Chain, which coordinates staking, users had to give a minimum of 32 ETH. At the time the PoS system was rolled in, one ETH cost about $4,000. At the time of writing, it is around $1,550. This high entry point made it difficult for many to join.

Crypto teams improved this issue somewhat using liquid staking. With this technique, users can stake a smaller amount of ETH in return for tokens that represent their crypto. They can then use their tokens for other transactions. The Shanghai upgrade seeks to address this issue even further and make it more accessible to join ETH.

In 2022, Ethereum tested a draft version of the Shanghai upgrade, the Shangdong test network. It tried out the practicality of the upgrade proposals. The Shanghai upgrade has five proposals, with one more

proposal (EIP-4844) postponed to 2024. EIP stands for Ethereum Improvement Proposal.

The five proposed changes in the current Shanghai upgrade are:

Coinbase payments are becoming more popular. To improve transaction execution, Coinbase addresses will be warm at their start. This will increase transaction speed but maintain security.

This introduces the PUSH0 instruction to contracts. It keeps the stack at a constant 0 value. This change will reduce contract code size and reduce the need for the DIP instruction (which solves duplicating zeroes). It also reduces the risk of contracts misusing instructions for optimization.

This EIP extends EIP-170 with a maximum size limit for the initialization code. This ensures the code is fairly charged to minimize future risk. It also provides an extendable cost system for the future.

This improvement introduces a system-level operation to support validator withdrawals. It provides a separate way for withdrawals to enter the EVM (Ethereum virtual machine). The EVM executes smart contracts on the blockchain network.

This is the most important change. It gives validators the option to withdraw their staking rewards. Since the Ethereum Merge, validators have staked over $17 million in Ether. This works out to over 22 billion USD.

While some validators are sure to withdraw stakes, therell be a cap of 43,200 ETH per day. The cap, and ETHs other improvements, will prevent a mass exit of validators. More people will likely become validators.

This warns against the use of the self-destruct instruction, which terminates a smart contract. However, ETH users are still discussing how best to use self-destruct. A change to this EIP is likely to come in the future.

Analysts have theories about whether the Shanghai upgrade will affect Ethereum's price. Some users fear the upgrade will cause a crash, but there are some arguments against that.

The Shanghai upgrade will improve the security and effectiveness of Ethereums PoS system. Its not likely to cause any major negatives, and will probably improve prices in the long term. You can expect to see the upgrade launch in early April 2023 - but delays are expected.

For traders, expect volatility in both directions. Ethereum - and the blockchain industry on the whole - is still young and experiencing growing pains. Bullish and bearish volatility is normal. However, this volatility presents plenty of good opportunities for those prepared.

Disclaimer: The content should not be construed as investment advice and does not constitute any offer or solicitation to offer or recommendation of any investment product. It is made available to you for information and/or education purposes only.

You should take independent investment advice from a professional in connection with, or independently research and verify any information that you find in the article and wish to rely upon.

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Quasar Finance, a decentralized asset management protocol based on the Cosmos blockchain ecosystem, is starting its mainnet today with the aim of helping investors manage their digital assets across multiple blockchains.

The move comes after Quasar raised $5.4 million in a funding round led by Shima Capital earlier this year at a $70 million valuation, bringing the total fund raised to over $11.5 million, the protocol said in a press release on Thursday.

Quasar said it aims to become the leading decentralized asset management platform by enabling connectivity among blockchains via Inter-Blockchain Communication Protocol (IBC). "Powered by IBC-enabled smart contracts, Quasars goal is to empower investors with easy access to the emerging interchain landscape of numerous individual blockchains, within the Cosmos ecosystem and beyond," the press release said.

In the wake of the spectacular failure of centralized exchanges such as FTX, both crypto natives and investors have increased their focus on decentralized finance (DeFi) and security. Quasar is aiming to address these issues by creating a dedicated layer 1 protocol that will allow investors to deposit funds into permissionless, non-custodial investment vehicles known as "vaults," that are optimized to work across multiple blockchains, the press release said.

The system is also designed to eliminate the need for cross-chain bridges, which have proven to be risky for DeFi investors, resulting in over $2 billion in losses in 2022 alone.

By giving investors access to the developing interchain landscape of independent and interoperable blockchains, both within and outside the Cosmos ecosystem, Quasar hopes to allow investors to have greater control over their investments.

"Quasar's mainnet launch is expected to attract more liquidity providers and strategists looking to crowdsource interchain capital, while providing more yield opportunities for individual LPs," said Valentin Pletnev, lead and co-founder of Quasar Finance, in a statement.

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Cosmos-Based DeFi Protocol Quasar to Start Mainnet After Raising More Than $11.5M - Yahoo Finance

Blockchain technology has given us the ability to create decentralized systems that can function without intermediaries, but one critical piece was missing the ability to access real-world data. Oracles bridged this gap, and they have become an essential part of the blockchain ecosystem. Oracles enable smart contracts to receive information from external sources, such as data feeds, APIs, and other off-chain sources. Chainlink is the most advanced and secure decentralized oracle network in the market today, and this article will tell you exactly why.

Before we dive into why Chainlink is the best-decentralized oracle network, lets first understand what oracles are and their role in blockchain networks.

An oracle is a third-party service that provides external data to a blockchain network. It serves as a bridge between off-chain data sources and on-chain smart contracts. Oracles are crucial to the functionality of smart contracts because they enable these contracts to access data that exists outside the blockchain network.

There are two types of oracles centralized and decentralized. Centralized oracles are controlled by a single entity, which means they are vulnerable to hacks and manipulation. By distributing oracles across a network of nodes, decentralization enhances security.

Chainlinks decentralized oracle network is the most secure solution for smart contract functionality. It ensures that smart contracts can interact with real-world data in a trustless and decentralized manner, with no intermediaries.

Smart contracts are self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code. They automate the execution of an agreement when certain conditions are met. However, to be truly useful, smart contracts need to interact with the real world, and that is where oracles come in.

Oracles enable smart contracts to receive information from external sources, such as data feeds, APIs, and other off-chain sources. This allows smart contracts to execute based on real-world events, such as the price of a stock or the temperature outside. Without oracles, smart contracts would be limited to executing based on data that is already stored on the blockchain, severely limiting their usefulness.

Security is a critical concern in decentralized oracle networks. Centralized oracles are vulnerable to hacks and manipulation, making them unreliable for smart contract functionality. Decentralized oracles distribute data across a network of nodes, making them much more secure.

Chainlink Data Feeds are decentralized at the data source, oracle node, and oracle network levels, generating highly reliable and accurate market data with strong protections against downtime and tampering, Sergey Nazarov, Founder of Chainlink

Chainlinks decentralized oracle network is designed with security in mind. It is built on top of the Ethereum blockchain, ensuring that it is secure and resistant to attacks. Chainlink also uses multiple layers of security, including data encryption and access control, to protect data and prevent unauthorized access.

Decentralization is a core principle of blockchain technology, and it is essential for oracle networks as well. Decentralization ensures that no single entity can control the network, making it more secure.

Chainlink achieves decentralization by using a network of nodes that provide data to smart contracts. These nodes are run by independent operators, ensuring that no single entity can control the network. Chainlink also uses a reputation system to ensure that nodes are reliable and trustworthy.

Flexibility is another advantage of Chainlinks decentralized oracle network. Chainlink can be used with any blockchain network, making it a versatile solution for smart contract functionality. It also supports multiple types of data, including real-time data, APIs, and IoT devices.

Chainlinks flexibility enables it to be used in a variety of use cases, including finance, supply chain management, insurance, gaming, and sports. It is a solution that can be customized to meet the needs of any industry or application.

Chainlink has established itself as the leading decentralized oracle network in the market today, and it has formed several partnerships with industry leaders to enhance its capabilities. These partnerships have enabled Chainlink to expand its use cases and demonstrate its potential as a game-changing solution for smart contract functionality.

Chainlink has made significant inroads into the finance industry, where its secure and reliable data feeds are critical for accurate and timely decision-making. Chainlink has partnered with several leading financial companies, including SWIFT, the largest global provider of secure financial messaging services, and Aave, the leading decentralized lending platform.

Chainlinks partnership with SWIFT has enabled it to integrate with the SWIFT network, giving it access to real-time financial data from over 11,000 financial institutions worldwide. This data can be used to support a variety of financial applications, including trading, payments, and risk management.

Chainlinks partnership with Aave has enabled it to provide reliable and secure data feeds for decentralized lending and borrowing. These data feeds enable Aave to offer more accurate and transparent lending rates to its users, improving the efficiency and security of the lending process.

Chainlinks secure and reliable data feeds are also valuable in the supply chain management industry. Chainlink has partnered with several leading supply chain companies, including Google Cloud and Hedera Hashgraph.

Chainlinks partnership with Google Cloud has enabled it to integrate with Google Clouds BigQuery data analytics platform, giving it access to real-time supply chain data from multiple sources. This data can be used to improve supply chain visibility and optimize supply chain operations.

Chainlinks partnership with Hedera Hashgraph has enabled it to provide secure and reliable data feeds for supply chain applications. These data feeds enable supply chain companies to track shipments and inventory in real-time, improving the efficiency and security of the supply chain process.

Chainlinks secure and reliable data feeds are also valuable in the insurance industry. Chainlink has partnered with several leading insurance companies, including Nexus Mutual and Etherisc.

Chainlinks partnership with Nexus Mutual has enabled it to provide secure and reliable data feeds for decentralized insurance applications. These data feeds enable Nexus Mutual to offer more accurate and transparent insurance premiums to its users, improving the efficiency and security of the insurance process.

Chainlinks partnership with Etherisc has enabled it to provide secure and reliable data feeds for parametric insurance applications. These data feeds enable Etherisc to offer insurance coverage based on real-time data, such as weather data, improving the efficiency and security of the insurance process.

Chainlinks secure and reliable data feeds are also valuable in the gaming industry. Chainlink has partnered with several leading gaming companies, including Enjin and Ubisoft.

Chainlinks partnership with Enjin has enabled it to provide secure and reliable data feeds for blockchain-based gaming applications. These data feeds enable Enjin to offer more accurate and transparent in-game asset prices to its users, improving the efficiency and security of the gaming process.

Chainlinks partnership with Ubisoft has enabled it to provide secure and reliable data feeds for blockchain-based gaming applications. These data feeds enable Ubisoft to offer more accurate and transparent game outcomes to its users, improving the fairness and security of the gaming process.

Chainlinks secure and reliable data feeds are also valuable in the sports industry. Chainlink has partnered with several leading sports companies, including Formula 1 and the National Basketball Association (NBA).

Chainlinks partnership with Formula 1 has enabled it to provide secure and reliable data feeds for blockchain-based fan engagement applications. These data feeds enable Formula 1 to offer more accurate and transparent race data to its fans, improving the engagement and security of the fan experience.

Chainlinks partnership with the NBA has enabled it to provide secure and reliable data feeds for blockchain-based fan engagement applications. These data feeds enable the NBA to offer more accurate and transparent game data to its fans, improving the engagement and security of the fan experience.

Chainlink is well-positioned to become the industry standard for decentralized oracles. Its secure and reliable data feeds have almost unlimited potential, making it a game-changing solution for smart contract functionality in almost any industry or application. It is the best choice for smart contract functionality, and it is poised to revolutionize the way we do business in the blockchain era.

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How Is Chainlink One of the Best Decentralized Oracles Network ... - Cryptopolitan

Introduction

Distributed Multi-Resource Rewards (DMRR) blockchain is an innovative development in the world of blockchain technology that seeks to revolutionize the way resources are allocated and rewarded within decentralized ecosystems. By leveraging the power of cryptocurrency, decentralization, and smart contracts, DMRR blockchain enables efficient resource utilization, incentivizing users to contribute to the growth and security of the network. In this article, we will delve into the DMRR blockchain and explore its potential impact on the digital landscape.

At its core, DMRR blockchain is a resource-based blockchain system designed to allocate and distribute rewards to participants in a decentralized manner. It operates on a multi-asset incentivization model, which means that users are rewarded with various digital assets for their contributions to the network. This includes activities such as mining, staking, and resource management.

In a traditional blockchain, rewards are typically limited to a single asset or token, often leading to an uneven distribution of value within the ecosystem. DMRR blockchain, however, focuses on diversifying the rewards system by incorporating multiple digital assets, leading to a more balanced and inclusive ecosystem.

DMRR blockchain relies on smart contracts to automate the allocation and distribution of rewards. This ensures a transparent, secure, and efficient process for all participants, removing the need for manual intervention or central authorities.

By leveraging the power of decentralized networks, DMRR blockchain ensures that no single entity can control or manipulate the system. This promotes transparency, security, and fairness across the entire ecosystem.

The tokenomics of DMRR blockchain are designed to encourage user participation and promote a healthy ecosystem. Users are rewarded with various digital assets for their contributions, creating a robust incentive mechanism.

DMRR blockchain employs advanced consensus algorithms, such as Proof of Stake (PoS) and Proof of Work (PoW), to maintain network integrity and security. These mechanisms enable efficient resource utilization, preventing malicious activities and ensuring the long-term sustainability of the network.

Interoperability is a key aspect of DMRR blockchain, allowing it to seamlessly interact with other blockchain networks. This enables users to access a wide range of digital assets, enhancing the overall value and utility of the platform.

DMRR blockchain can be applied to various use cases, offering decentralized solutions that empower individuals and organizations alike. Some potential applications include:

DMRR blockchain can facilitate the development of innovative DeFi solutions, providing users with access to decentralized financial services such as lending, borrowing, and trading.

Developers can leverage DMRR blockchain to create powerful dApps, allowing users to interact with a wide range of digital services in a secure and decentralized manner.

DMRR blockchain can be used for efficient digital asset management, streamlining the process of allocating, tracking, and rewarding digital assets across various platforms.

Companies and organizations can adopt DMRR blockchain to implement transparent and fair revenue-sharing models, ensuring that all stakeholders are adequately compensated for their contributions.

DMRR blockchain can serve as a foundation for new consensus mechanisms, enabling the development of more secure, scalable, and efficient blockchain networks.

The DMRR blockchain represents a significant step forward in the evolution of blockchain technology, offering a more inclusive, transparent, and rewarding ecosystem for all participants. By integrating multiple digital assets, decentralized networks, and advanced consensus algorithms, DMRR blockchain has the potential to reshape the way resources are allocated and rewarded within the digital landscape.

As the technology continues to mature, it is likely that we will see an increasing number of use cases and applications emerge, driven by the growing demand for decentralized solutions. From DeFi and dApps to digital asset management and revenue sharing, DMRR blockchain offers a wide range of possibilities for individuals, businesses, and organizations alike.

Moreover, the focus on interoperability and cross-chain integration ensures that DMRR blockchain can seamlessly interact with other networks, further enhancing its utility and value within the broader digital ecosystem. This level of collaboration and connectivity will be essential in promoting the widespread adoption of blockchain technology, as it breaks down barriers between different platforms and encourages cooperation among various stakeholders.

In conclusion, DMRR blockchain is a promising development that has the potential to transform the way we approach resource allocation, incentivization, and reward distribution within decentralized networks. By leveraging the power of blockchain technology, smart contracts, and tokenomics, DMRR blockchain offers a more equitable and transparent system that can benefit users, developers, and organizations alike. As we continue to explore the full potential of DMRR blockchain, we can expect to see a wide range of innovative solutions and applications emerge, paving the way for a more inclusive and sustainable digital future.

DMRR (Distributed Multi-Resource Rewards) blockchain is an innovative development in blockchain technology that focuses on the efficient allocation and distribution of rewards within decentralized ecosystems. It leverages the power of cryptocurrency, decentralization, and smart contracts to incentivize users to contribute to the growth and security of the network.

Unlike traditional blockchain systems, which usually reward participants with a single asset or token, DMRR blockchain employs a multi-asset incentivization model. This approach diversifies the rewards system, leading to a more balanced and inclusive ecosystem.

The key components of DMRR blockchain include smart contracts, decentralization, tokenomics, consensus algorithms, and cross-chain integration.

DMRR blockchain can be applied to various use cases, including Decentralized Finance (DeFi), decentralized applications (dApps), digital asset management, blockchain-based revenue sharing, and decentralized consensus mechanisms.

Smart contracts play a vital role in DMRR blockchain, automating the allocation and distribution of rewards. This ensures a transparent, secure, and efficient process for all participants, eliminating the need for manual intervention or central authorities.

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Discover the Potential of DMRR Blockchain: A Revolution in ... - Blockchain Reporter

According to the global payment provider Visa, 2022 became a record-breaking year for cryptocurrency thefts, with over $3 billion stolen in on-chain exploits. Cryptocurrency bridge services were a favored target for threat actors.

Visa published the biannual threats report on March 20. The document contains data on all sorts of violations occurring globally in the digital payments system last year from plastic card fraud schemes to malware. A separate section is dedicated to cryptocurrency and digital platforms.

It pays particular attention to the vulnerability of token bridges. Commonly, fraudsters exploit a bridge services smart contracts to either forge new transactions or allow for the approval of unauthorized transactions. The total amount of funds stolen via token bridges totals $2 billion from January through early October 2022.

The report also mentions a crypto-focused phishing campaign, whose actors were impersonating a crypto exchange in emails to harvest the victims account login data. Once the real exchange prompts the threat actor for the two-factor authentication (2FA), they would use the spoofed site to prompt the victim to enter their 2FA information, using the real 2FA from the spoofed site to complete the login process.

Related: Visas crypto strategy targets stablecoin settlements

In February, it was reported that, along with its competitor Mastercard, Visa would delay the launch of new partnerships with crypto firms due to high-profile bankruptcies in the industry. However, Cuy Sheffield, head of product at Visa,called the report inaccurate and reassured that Visa would continue to partner with crypto companies to improve fiat on and off-ramps, and build new products that can facilitate stablecoin payments.

On Feb. 20, the Bitcoin market cap flipped the market cap of Visa for the third time in history. By March 14, the gap between the two reached more than $20 billion in favor of BTC.

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Visa: Token bridges were a favored target for thieves in 2022 - Cointelegraph

Ethereum tokens worth more than $1 billion have been trapped for eternity on account of typos, user errors, and buggy contracts.

This has been revealed by Coinbases director of product strategy and business operations, Conor Grogan.

Ive categorized thousands of instances of Ethereum typos, user errors, and buggy contracts Thus far Ive found 636,000 ETH worth $1.15B+ that are lost forever: 0.5% of all circulating supply Crypto can be hard sometimes. On the flip side, thats a lot of ETH that cant be sold.

Among the reasons for the trapped tokens include the Parity Multisig wallet bug, which caused the crypto exchange Quadriga to lose 60K tokens [$108 million] owing to a flawed contract.

In addition, a flawed smart contract rendered $34 million worth of Ethereum permanently inaccessible during Aku Dreams much-hyped NFT launch Akutars, a year ago.

Aku Dreams is a 3D avatar NFT collection based on the original character Aku by Micah Johnson, the Major League Baseball player.

Also, there was another incident where people have collectively sent 24k ETH to a burn address for some reason. So, in total, Web3 foundation lost 306K ETH which is valued at over $530 million, Grogan added.

To recall, in Jan 2022, a Reddit user who wished to remain anonymous [now-deleted post] was said to have lost close to $500k after sending wrapped Ether [wETH] into a wETH wrapping smart contract.

Typically, users first send ETH to the wETH smart contract address in order to wrap it, and they will then receive an equivalent token in return.

To unwrap it, users must either use the withdrawal function in the wETH smart contract or exchange wETH for ETH on a decentralized exchange like Uniswap.

Here, the anonymous Reddit user transferred the wETH directly into the wETH smart contract address instead, in a bid to receive ETH back.

Unfortunately, this procedure is the equivalent of token burning, and it led to the traders crypto being lost forever.

Having said that, Coinbases Grogan also cautioned that the previously cited figure significantly underestimates the actual amount of lost or inaccessible ETH.

This is because it only accounts for situations in which Ethereum is permanently locked and ignores lost private keys or forgotten wallets, such as the infamous Genesis wallets.

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$1B Ethereum Gone "Forever"; Here's How - TronWeekly