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Andreessen Horowitz Invest in Chatbot Startup Character AI – Decrypt

Posted: March 24, 2023 at 12:22 am


Venture capitalist firms are always on the hunt for the next big thingespecially when the current hype cycle starts to cool. Already well established in crypto initiatives, Andreessen Horowitz announced on Thursday an investment in software development company Character AI, developers of the Character AI chatbot.

The series A funding round totaled $150 million, was led by a16z, and includes investment from Nat Friedman, Elad Gil, SV Angel, and A Capital.

Along with the investment in Character AI, Andreessen Horowitzs general partner Sarah Wang will join the Character AI board.

If the internet was the dawn of universally accessible information, this moment in A.I. may very well be the dawn of universally accessible intelligence, Wang tweeted, announcing the investment.

We are at the iPhone moment of A.I., Wang wrote. Like mobile and the internet, the A.I. revolution starts with the consumer.

Launched in September 2022 by former Google software engineers Noam Shazeer and Daniel Freitas, Character AI is a web application that generates text responses via pre-programmed character chatbots. Shazeer and Freitas serve as Character AI's CEO and President, respectively.

Character AI says the funds will provide the resources the company needs to grow during its hypergrowth phase.

We understand the importance of providing an A.I. that truly feels like your own, Character AI said in a blog post. Thats why our A.I. is customizable.

Character AI chatbots can be customized to suit each users preferences, which the company says could serve as a sympathetic ear or an analytical problem-solver.

Character AI says that over 1 million A.I. characters have been created through its service, including bots based on Telsa and Twitter CEO Elon Musk, Meta CEO Mark Zuckerberg, Michael Jackson, and fictional characters like Tony Stark and Saul Goodman.

These interactions come with a disclaimer: Everything characters say is made up.

Since the launch of ChatGPT by OpenAI in November 2022, the idea of implementing artificial intelligence in blockchain has also taken off, with developers aiming to integrate the technology with smart contracts and tokens.

While smart contracts are common in Web3, artificial intelligence is becoming a part of the blockchain industry as several projects roll out A.I. tokens, including Hera, ALI, NMR, and AGIX.

A.I. tokens are cryptocurrencies that aim to use artificial intelligence to improve security, user experience, and scalability.

According to data from market intelligence firm Grand View Research, the burgeoning A.I. industry has been valued at over $136.6 billion in 2022 and is estimated to reach $196 billion in 2023.

Researchers at the Massachusetts Institute of Technology, Alex Pentland, John Werner, and Chris Bishop, see a clear path for A.I. to merge with blockchain technology.

At a macro level, [blockchain and A.I.] can provide a level of transparency, accountability and analytics that never existed before in the digital world, the authors assert.

We have the ability to bring a new level of trustworthiness to the global economic system as well as society writ large. As a consequence, blockchain and A.I. are becoming the next supercycle and are the core of a really major societal transformation.

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Andreessen Horowitz Invest in Chatbot Startup Character AI - Decrypt

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March 24th, 2023 at 12:22 am

Posted in Smart Contracts

ShelterZoom Onboards Ex-Microsoft Engineer to its Executive Team – Yahoo Finance

Posted: at 12:22 am


The enterprise Web3 smart-document platform's new hire will leverage their product-market skills, business acumen, and deep-tech expertise to support major growth initiatives in ShelterZoom's product offerings

NEW YORK, NY / ACCESSWIRE / March 23, 2023 / ShelterZoom, a leading blockchain-based, smart-document SaaS provider, hires Dani Leca as VP of Engineering & Product. Leca will help the company develop new products and features and penetrate new markets, enabling organizations from all industries to benefit from additional layers of privacy, security, and control in their external communication.

While working for Microsoft, Leca led the opening of two Azure business units in Europe. In 2022, he was awarded Microsoft's Global Customer Service and Support Team Impact Award. Known for his strategic thinking, Leca has a proven track record of building and leading high-performing engineering teams. With a passion for providing value to customers, a deep understanding of product-market fits, and experience in scaling products, he will play a prominent role in expanding ShelterZoom's product offerings. Prior to his stint with Microsoft, Leca worked for Honeywell, Deutsche Telekom and successfully scaled several startups.

ShelterZoom's smart-document platform offers a suite of blockchain-based products geared towards empowering organizations across virtually all industries to operate in a more secure, efficient, affordable, and eco-friendly manner. Through its SSOT technology, ShelterZoom has built an end-to-end suite of solutions to facilitate secure transaction management and the first email extension (DocumentGPS) capable of tokenizing attachments, giving senders the ability to revoke download and share permissions.

Last year ShelterZoom expanded into the E.U. with the opening of its Lisbon office to help better serve its growing business on the continent. In November of last year, ShelterZoom kicked off a partnership with the Policlinico Modelo de Cipolletti, a leading Argentine hospital, to integrate its Document GPS and DocuWalk solutions into the Policlinico's system to offer patients complete ownership and control over their medical records, demonstrating the benefit of ShelterZoom's platform within the healthcare industry.

"The addition of such well-regarded talent signals a major turning point in ShelterZoom's story," says Chao Cheng-Shorland, CEO and Co-Founder of ShelterZoom. "Dani is a well-respected industry leader who brings a ton of talent to the table. He is a whiz when it comes to product-market fit and understands how to communicate a product's value to potential customers."

About ShelterZoom:

ShelterZoom is a leading provider of enterprise-level blockchain-based smart documents, smart contracts, and blockchain API integration services. The blockchain-based SaaS company was founded in 2017, serving large enterprises, government agencies, law firms, non-profits, the publishing industry, academic institutions, real estate, and small businesses with fully supported blockchain smart document applications and document tokenization.

For more information, visit:https://shelterzoom.com/

ContactAri KarpPR@shelterzoom.com

SOURCE: ShelterZoom Corp.

View source version on accesswire.com: https://www.accesswire.com/745459/ShelterZoom-Onboards-Ex-Microsoft-Engineer-to-its-Executive-Team

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ShelterZoom Onboards Ex-Microsoft Engineer to its Executive Team - Yahoo Finance

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March 24th, 2023 at 12:22 am

Posted in Smart Contracts

Circle FUD Fallout: Tether’s USDT Surpasses USDC on Ethereum … – BSC NEWS

Posted: at 12:22 am


As Circles $USDC has lost ground, Tether-issued $USDT is now the dominant stablecoin on both Ethereum and Polygon.

Regulatory FUD from U.S. authorities has helped to catalyze a regime change in the world of cryptocurrency stablecoins, as $USDC has lost its dominant position to $USDT on both the Ethereum and Polygon blockchains.

The March 11 collapse of Silicon Valley Bank certainly shook crypto holders faith in the stability of $USDC (at least in the very short term), as it was disclosed that $USDC issuer Circle had more than $3 billion in reserves stored at the failed financial institution. $USDC suffered a major but brief de-peg, and it regained its $1 value a few days later, when Circle executives were able to reassure investors that the SVB collapse did not impact its ability to maintain the 1:1 backing for the stablecoin.

The apparent irony is that U.S. regulators statements and actions against stablecoins (notably $BUSD) have incentivized crypto holders to abandon stablecoins from U.S.-regulated issues (such as Paxos and Circle) in favor of issuers like Tether who are not subject to U.S. regulations.

According to DefiLlama, $USDC lost its dominant position on Ethereum to $USDT on March 18, a week after the SVB debacle. $USDc had accounted for the plurality of stablecoins on Ethereum since the beginning of 2022. However, $USDT rose to the top spot as it benefitted from investors switching out of $USD and, since December 2022, $BUSD.

The narrative on Polygon is different but has the same result: $USDT has surpassed $USDC as the dominant stablecoin on the Ethereum sidechain.

The wrinkles in the story, however, are that $BUSDs market share on Polygon was never significant; $USDC had always been the dominant stablecoin on Polygon; and $USDTs ascent came at the expense of $USDC and $DAI.

Perhaps most importantly, $USDT surpassed $USDC on Polygon on March 2, according to DefiLlama, more than a week before SVBs failure accelerated the abandonment of $USDC.

Overall, $USDT has strengthened its grip on the entire USD stablecoin marketplace, increasing its share of stablecoin holdings on all blockchains from less than 50% to nearly 60% since the beginning of the year.

The Tether-issued stablecoin accounts for almost all stablecoin holdings on Tron and is rapidly gaining even more ground on BNB Chain as $BUSD is being phased out.

One area where $USDC has maintained its edge over $USDT is on the fast-growing Arbitrum blockchain, where $USDC has 63% of the stablecoin market.

Ethereum is an open-source, distributed computing platform based on blockchain technology that can execute smart contracts - that is, the terms written in the contract will be executed transparently, automatically when the previous conditions are satisfied, and no one can interfere. At the same time, Ethereum also allows developers to build decentralized applications (DApps) and decentralized autonomous organizations (DAO).

Website | Twitter | Documentation | Whitepaper | Reddit | Discord | Youtube | GitHub | Ethereum Foundation Blog |

Polygon is a sidechain scaling solution that runs alongside the Ethereum blockchain allowing for speedy transactions and low fees. MATIC is the networks native cryptocurrency, which is used for fees, staking, and more. The effectiveness of Polygon as an alternative to Ethereum has seen existing projects such as Aave and Curve adopting its chain.

Website | Twitter | GitHub | Reddit | YouTube

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Circle FUD Fallout: Tether's USDT Surpasses USDC on Ethereum ... - BSC NEWS

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March 24th, 2023 at 12:22 am

Posted in Smart Contracts

Navigating the legal implications of NFT domain ownership – Coinnounce

Posted: at 12:22 am


What are NFT domains?

NFT domains are blockchain-based NFTs powered by smart contracts that use utility-driven domain technology to replace complex blockchain addresses with human-readable names, resulting in a more human-friendly decentralized space.

But are you aware of its legal implications on ownership?

The owner of the Quik.com NFT domain is the sole owner, director, controller, administrator, dictator, etc., of the digital property. No third party, not even Quik.com, can interfere with its operations or censor or remove the content it poses.

NFT domains are new web extensions created for the emerging blockchain-based decentralized technology employed in Web3, the next generation of Web 2.0.

It comprises dynamic web extensions towards its founding and leading technologies, such as dot-web3, dot-metaverse, dot-vr, and dot-btc, exhibiting and connecting each growing technology inside the decentralized ecosystem.

Quik.com NFT domains are connected to the blockchain via smart contracts. Their underlying NFT technology, enabled by smart contracts, makes each name unique and prevents replication.

Every transaction and minting of the Quik.com NFT domain is publicly listed on a blockchain and viewable to anyone, creating a transparent ecosystem.

Since it is built on a blockchain, if it is hijacked, vanished, or decrypted, the entire list of NFT domains associated with the blockchain and other associated technologies would vanish.

But don't worry, you're not the only one drowning, so it's all right (kidding).

This is not an easy task, and it is even impossible for the government to execute (hush). As a result, the entire decentralized space, which is the cornerstone of Quik.com NFT domains, is the most secure technology.

Moving back to the subject of the hour: Domain!

Domains are controlled by the domain registrar, who submits and registers domains for users. It decides if this individual will now handle the reservation of this domain name along with an IP address for the domain name.

When you register these domains, you proceed to checkout, and it displays a picture in which customers believe they are purchasing the domain name but are renting it.

Imagine purchasing a home only to discover that it is controlled and owned by the contractor; you just rented it, and the maintenance price was the subscription fee.

This is somewhat what has transpired here over the years. Because you just rented the domain name from these service providers that obtained complete possession of the domain, you were being framed for having control of the domain.

Moreover, the rent is also determined by the length of time you are willing to pay for the domain, which means that those who want to keep a domain name forever must also pay the renewal fees.

Suppose you wish to host a website and pay the rent, agree to our regulations, follow our instructions, and even follow these extraordinary terms. In that case, you are not getting ownership, infringement of rights, or even content or data control.

Furthermore, these domain registrars have the authority and capability to monitor websites and retain any content deemed unsuitable or restricted without even concerning your permission.

Isn't it frustrating? This is the primary reason for the need for Quik.com NFT domains and why many users shifted dramatically and immediately from a traditional administrational strategy to a more digital, decentralized approach, Quik.com NFT domains.

Now that we've covered the basics let's move on to the main topic of the hour and figure out exactly what "ownership" we obtain with Quik.com NFT domains.

The NFT domain of Quik.com can be owned by either an external address retrieved via a private key or an internal address retrieved via a smart contract. This means a multi-signature wallet manages NFT domain administration and can be distributed among administrators.

Quik.com NFT domains are based on QNS, or the Quik Name Service, a dedicated API on the Ethereum and BNB chains that manage the minting and integrations of NFT domains. It performs a similar function as DNS. However, QNS has an architectural distinction that dramatically modifies the concept.

Quik.com NFT domains are owned forever, and once minted and transmitted to the user's wallet, they cannot be reversed or retrieved. It is also not subject to renewal and cannot be retrieved by Quik.com.

Every Quik.com NFT domain is issued as an ERC-721, ERC-1155, and BEP-721, BEP-1155 token, allowing developers to incorporate and enhance the technology's utility and domain owners' utility to control their domain ownership from any compatible wallet, exchange, or marketplace.

NFT domains are one-time purchases with no renewal fees or subscription model. Moreover, you get a 5-10% royalty on every subsequent name sale and total ownership, control, and management rights.

Since they are stored and linked to crypto wallets, another safety mechanism, they can be bought, sold, swapped, and transferred like cryptocurrencies without extensive documentation.

NFT domains are not stored on a server and are not compelled by the implications of ICANN. The Internet Corporation for Assigned Names and Numbers (ICANN) is the governing organization in charge of domain ownership on traditional domains.

NFT domains are not subject to ICANN since they are built on blockchain technology, a block-to-peer network. The entire concept of blockchain, cryptocurrency, and decentralized technology is a realm that does not authorize centralized control.

NFT domains are held in a public blockchain registry, creating a transparent environment that anybody can verify to see who owns the domain. Blockchain technology can alter how we interact with the Internet.

This showcases the Quik.cdomain'somain's security. Since the holder gains ownership and permission rights to change the domain name, the possibility of servers being hacked and domain names being stolen is reduced.

Since NFT domains return the power "to the "PEOPLE" who own and govern the domain, huge organizations and controlling entities cannot influence how we post, host, and ghost. This allows people to promote themselves in whatever way they see fit.

As the popularity of cryptocurrencies, NFTs, and blockchain technology rises steadily and effectively, mainstream acceptance is unlikely to happen overnight because we are in a technologically advanced period, not the 1990s.

Realize the chasm that it took nearly two decades for us to achieve such a feat following the dot-com boom. Despite this, NFT domains correlate with modern free speech trends, which may one day result in the existing domain market being replaced completely due to its autonomous legal implications on ownership.

However, only time will tell how much NFT domains will improve, as the notion is still evolving and hasn't landed on a universal definition. So, given that you know how it breakthroughs traditional areas on all levels, why wait to regret it?

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Navigating the legal implications of NFT domain ownership - Coinnounce

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March 24th, 2023 at 12:22 am

Posted in Smart Contracts

OpenSea: The Ultimate Guide to Its Tools, Features, and … – nft now

Posted: at 12:21 am


If you know Web3, you know OpenSea. Since its launch at the end of 2017, the NFT marketplace has largely been the poster child for the world of Ethereum and crypto art, and its got the numbers to prove it.

OpenSeas total historical trading volume sits comfortably at just shy of $41 billion, according to Dune analytics. To put that in perspective, KnownOrigin, one of OpenSeas competitors that launched around the same time, has a total trading volume of just over $30 million.

Having dominated the market for almost six years, OpenSea has been as influential to the NFT ecosystem as any project, artist, or builder. However, this outsize impact hasnt always been for the better, as the company has increasingly begun to clash with NFT community members over some pretty significant issues related to Web3.

The last six months, in particular, have presented the marketplace with several challenges with which its still grappling, as well as the first real contender with a shot at replacing it as NFT marketplace ruler. With that in mind, heres a look at everything you need to know about OpenSea.

OpenSea is one of the most well-known, peer-to-peer NFT marketplaces in existence. Users can buy, sell, trade, and create NFTs on the platform in various categories ranging from photography and PFPs to gaming, membership tokens, and fine art projects.

OpenSea is the all-around hitter of NFT marketplaces. Its easy to navigate and provides a limited but versatile suite of analytics tools and sorting options for users looking to dig a little deeper into collection histories or NFT trait rarities. Rather than honing in on a particular niche of Web3 users, the platform is a solid one-stop shop for a broad range of Web3 enthusiasts, including newcomers, experienced traders, and low-volume retail NFT buyers.

Its difficult to overstate the magnitude of OpenSeas rise over the last few years. Having been founded in 2017 by software engineer and entrepreneur Devin Finzer and programmer Alex Atallah, the marketplace hit a $1.5 billion valuation by the summer of 2021. By January 2022, that number surged to $13.3 billion after the company raised $300 million in a Series C funding round.

While NFTs had been around in some form or another since 2011, they had yet to hit an inflection point and gain significant traction in the publics eye, even in 2017. In creating OpenSea, Finzer and Atallah had identified a need to build a platform that could function as a focal point for the then largely disparate communities of Web3 enthusiasts.

At first, Devin and Alex set out to create a marketplace to unite siloed communities during the early days of NFTs, said an OpenSea spokesperson while speaking to nft now on the companys origins. While embracing a range of potential outcomes, the upside was always there: becoming a destination where people could interact with NFTs, and thus explore a brand new economy on the internet.

That economy has grown substantially since the platforms late-2017 launch, even considering Web3s most recent crypto winter. As of September 2022, trading volume in the Ethereum NFT sphere hit 8.22 million ETH ($11.5 billion). Furthermore, a recent report by research and consulting firm Verified Market Research predicted the market cap for the NFT industry could reach $231 billion by 2030.

OpenSea has played a crucial role in helping that market mature. From May 2021 to November 2022, the platform was responsible for the majority of trading volume in the NFT space.

OpenSea rolls out new features and tools on the platform with some regularity, all aimed at increasing trust in the platform, user safety, and improving infrastructure for the larger ecosystem.

One of the platforms recent and significant updates came in June 2022 with the introduction of Seaport, a Web3 marketplace protocol that enables users to more safely and efficiently buy and sell NFTs. Before Seaport, OpenSea used Wyvern, a less-efficient protocol created by a third party. In comparison, Seaport cuts down on redundant transfers and, according to a company blog post on the development, reduces gas fees for users by 35 percent. Seaport is open source; OpenSea doesnt control or operate it, and the company has encouraged smart contract developers to improve the protocol with them.

The marketplace has introduced several features in the last year, including a copymint detection system, a way to hide suspicious NFT transfers to users wallets, and an ability for creators to launch collections with dedicated drop pages directly on OpenSea called Drops. But not all of its product launches have been well-received.

Throughout the years, OpenSea has launched or made changes to products and services it offers that connect to Web3s most pressing issues and not always gracefully. The platform has frequently clashed with artists and creators, who castigate the marketplace for what they perceive to be offenses to the health of the NFT community and the individuals that form its bedrock.

The critiques can be difficult to weigh fairly. Due to its stature and long history in the space, OpenSea makes for an easy target, whether or not its detractors arguments are legitimate. Regardless, like every marketplace in the ecosystem, the company has had its share of difficulties and shortcomings over the years. The platform has struggled with developing a fair and effective stolen items policy, has a history of site functionality issues during times of high traffic and following periods of intense growth, and has taken a rather centralized approach to implementing rules relating to its user base.

But the highest-profile issue that the Web3 community takes with OpenSea is its inconsistent stance on creator royalties. Royalties (also known as creator fees) enable artists to be compensated for a work well beyond its primary sale, giving them a cut of the profits every time their NFT changes hands. Royalties have helped artists and builders in Web3 create a rich, varied, and thriving art ecosystem and play a major role in its sustainability, providing a crucial income source for the funding of future projects.

Until the recent development of on-chain enforcement tools, royalties werent originally enforceable on a technical level. Even so, some collections on OpenSea werent created on upgradable smart contracts, preventing them from being able to use the newly developed tools. For collections built on upgradable contracts, however, its up to the marketplaces facilitating the buying and selling of their NFTs to implement and enforce those royalties payments through these new tools.

Until recently, OpenSea had done a great deal to support artists in this way. As of October 2022, the marketplace was the platform that had paid out the most creator royalties by a significant margin. And in November of the same year, the marketplace announced that it would introduce a tool for new collections to enforce royalties on its platform.

The announcement marked OpenSeas first crack at an on-chain solution for royalties enforcement. And while this was hailed as a positive, creator-friendly move, users were unsettled by the fact that such royalty enforcement wasnt going to apply to existing collections on OpenSea the very collections that helped establish the platform as a leading Web3 force.

After severe backlash from nearly every prominent NFT artist and project head in the space, OpenSea announced it would continue to enforce creator fees on legacy collections, a move that many at the time saw as both a win for creators and an event that catalyzed a kind of unionization movement in Web3.

In February 2023, however, OpenSea altered its position on royalties once again. In a Twitter thread, the company announced that it would be moving collections that dont use on-chain enforcement tools (the vast majority of collections on its platform) to optional royalties. And once again, many artists in the community took umbrage with this.

OpenSea has cited a sea change in marketplace dynamics as the main reason for its move to optional royalties on its platform, and theres some credibility in that claim. Collectors in Web3 simply dont want to pay royalties if they can avoid it, and marketplaces have to listen to the collectors that make up their target audience. This trend isnt theoretical marketplaces are increasingly abandoning royalties enforcement, and zero-royalty platforms like Blur have begun siphoning off massive amounts of trading volume from OpenSea, usurping the companys previously-held majority market share.

The rise of Blur is one of the most significant developments in NFT marketplace history and has everything to do with what OpenSea is trying to achieve with its royalties moves in recent months. Blurs strategy of appealing to a small but robust demographic of pro traders by rewarding its users with free airdrops of its own token has proven widely effective in its current goal of optimizing for market share. Since November 2022, Blur has either sat neck-and-neck with OpenSea or completely outpaced it in terms of trading volume (although OpenSea still retains the higher count of active users).

However, OpenSea may bear some responsibility for partially catalyzing the market shift it is now lamenting. The royalty policy it recently canned had forced creators to choose between earning full royalties on either OpenSea or Blur, setting royalties to optional upon detection of a collections trading on royalty-optional platforms. Ironically, it was OpenSeas own Seaport that enabled Blur to sidestep this very policy, drawing even more users to Blurs shores. Regardless, the move put creators and collectors in an uncomfortable position.

OpenSeas attempts to uphold royalties as long as it did are worth appreciating, and the platform isnt the artist-hating behemoth that some make it out to be. But as it and others vie for dominance in the NFT ecosystem, creators are caught in the middle in what many see as a race to the bottom of one of Web3s founding principles: empowering and properly compensating artists for their work.

Ultimately, as some have argued, it may be the case that Web3 platforms are simply more concerned with gaining market share, as success in this goal allows them to secure more financing through venture rounds. Either way, the current market dynamic sits poorly with the community of artists that generates the wealth the NFT ecosystem swims in and who sincerely believe in the ability of Web3 tech to foster a more equitable future for creatives.

Several of the problems OpenSea gets criticized for have no easy solutions. The platforms stolen item policy, which has previously led to the inadvertent punishment of users who unknowingly purchased a stolen NFT on the marketplace, is one example of this. Its worth noting that OpenSea listened to community feedback and consequently updated its policy to better disincentivize theft and improve the accuracy of stolen item reports. Its also implemented malicious URL detection and removal and a system that aims to prevent the reselling of stolen items.

While there is an argument that OpenSea can and should have done more to develop as fair and effective a policy as possible for stolen items earlier than it did, its also not a stretch to say that dealing with security in a decentralized world remains an inexact science, especially when an organization is trying to ensure legal compliance in the U.S.

The platforms March 2022 hiccup in how it approached U.S. sanctions law requirements likewise falls under this category. Balancing a largely anonymous and international user base with potentially ruinous legal repercussions is difficult.

All of these issues live under the banner of one of Web3s founding tenets: decentralization, the idea that broad authority to make changes affecting a community should be dispersed throughout that community rather than vested in a single individual or organization. Massive NFT platforms like Opensea are in an unenviable position here. Calls for a truly decentralized marketplace will be familiar to anyone who has been in the NFT space for more than a few weeks. Those calls, however well-intentioned, tend to be ill-thought-out.

OpenSea believes that the centralization debate is a crucial and compelling one that, like every controversial issue in the space, evolves over time and requires an approach that can be adjusted if necessary. And while its easy to argue that OpenSea is a centralized entity, its also worth noting that most Web3 entities are.

Centralization is a spectrum. Nifty Gateway, for example, is a custodial platform that stores its users NFTs in a wallet from which they need to be withdrawn to be traded on other platforms. And even the founders of SuperRare have recognized that decentralization is a work in progress and that decentralization by centralized means may be one of the best ways of fullying realizing the promise of this particular tenet of Web3.

OpenSea believes that coordinated action on some authoritative level is sometimes necessary to keep things running smoothly and its users safe in an environment full of risks and unknowns. Web3 is a volatile landscape that shifts by the hour. Expecting any one individual to keep up and respond perfectly to it is unreasonable; having the same expectations of an unwieldy, multi-billion-dollar organization is unreasonable.

None of which is to say that OpenSea cant do a better job on the things the NFT community often rebukes it for; it must if it wants to maintain its spot as a top Web3 marketplace. It owes creators not just collectors innovation that they can use and that upholds their rights as Web3 citizens. Likewise, it can do more to clearly communicate sudden changes in policy to its users and implement decisions in a more transparent and precise way.

We believe that eventually, the physical economy will shift in this direction, and its possible that one day, nearly everything we own will be owned and transferrable on the blockchain in the form of an NFT, CEO Devin Finzer underscored of the companys approach to the evolution of Web3 in a November 2022 blog post. We have conviction that this technology will eventually power the biggest markets on the planet and fundamentally transform society. Thats the vision were rallying around at OpenSea.

All of which sounds rhetorically on the money. But rhetoric is easy; how the marketplace decides to execute that vision fairly while facing rapidly shifting market dynamics, increasing competitive pressure, and a movement of creators coalescing around the royalties issue remains to be seen.

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OpenSea: The Ultimate Guide to Its Tools, Features, and ... - nft now

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March 24th, 2023 at 12:21 am

Posted in Smart Contracts

CryptoQuant CEO Roasts US, Europe Central Banks’ Action To Ease Liquidity Strain – Benzinga

Posted: at 12:21 am


March 19, 2023 8:55 PM | 2 min read

As five central banks across the United States and Europe took coordinated action to ease the stress on the global funding market, the price of Bitcoin (CRYPTO: BTC) saw a spike on Sunday evening, which prompted a reflective social media post from CryptoQuant CEO Ki Young Ju.

What Happened: Ki contrasted the action of the central banks with Bitcoins pseudonymous creator Satoshi Nakamoto in his tweets on Sunday.

Satoshi just decided to print more Bitcoins again to bail out crypto exchanges. BTC price will go down as its supply increases, said Ki.

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The CryptoQuant CEO shared a tweet from the European Central Bank, which featured a press release from the central bank detailing the actions it and other institutions are taking to enhance the provisions of US dollar liquidity.

See Also: How To Buy Bitcoin (CRYPTO: BTC)

Why It Matters: Ki asked those that believe in the U.S. dollar system to imagine if cryptocurrency exchanges invested all client funds in so-called shitcoins, which leads to Nakamoto printing infinite Bitcoins to bail out the exchanges and the price of the apex coin being contingent on Satoshis hawkish or dovish expressions.

Bitcoin spiked on Sunday hitting a high of $28,440.56 in intraday trading. At the time of writing the largest cryptocurrency by market cap was up 3.5% at $28,074.

Bitcoin has seen 25.9% and 68.65% gains for the week and the year, respectively. The second-largest coin, Ethereum (CRYPTO: ETH) has shot up 11.6% and 48.7% in a similar period.

On Friday, over $55 million in cryptocurrency shorts were wiped in just 12 hours as Bitcoin crossed the $26,000 mark.

Read Next: Potshot Or Praise? Dogecoin Founder Says Cramer 'Good At His Job' Elon Musk Reacts

2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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March 24th, 2023 at 12:21 am

Posted in Satoshi Nakamoto

Jamie Dimon Is Bullish On Blockchain, But Not Bitcoin Satoshi … – Investing.com UK

Posted: at 12:21 am


Benzinga - Are investors making too many assumptions about Bitcoin (CRYPTO: BTC)? JPMorgan Chase & Co (NYSE: JPM) CEO Jamie Dimon is bullish on blockchain technology, but Bitcoin is another story.

"How do you know it's going to stop at 21 million? ... maybe it's going to get to 21 million and Satoshi's picture is going to come up and laugh at you all," Dimon said during a Jan. 19 appearance on CNBC's "Squawk Box."

What To Know: Satoshi Nakamoto is a presumed pseudonymous person responsible for the creation of Bitcoin. Many argue that Bitcoin holds value because of its scarcity, given the maximum number of coins that can be mined is capped at 21 million, according to Bitcoin's source code.

Related Link: Satoshi Nakamoto's Last Messages Before Disappearing, The Odds Of $250K BTC In 2023

Dimon reminded listeners that no one really knows what will happen, but he has strong opinions on the world's oldest and most valuable cryptocurrency.

"Bitcoin itself is a hyped-up fraud, a pet rock," Dimon said.

"I think all of that has been a waste of time and why you guys waste any breath on it is totally beyond me," he told CNBC during an interview at the World Economic Forum.

Blockchain, on the other hand, is a technology leger system and it's much different than cryptocurrency tokens, he said, adding JPMorgan uses blockchain technology to move information and money around.

The rest is more of a "decentralized Ponzi scheme," Dimon said.

"I don't care about Bitcoin, so we should just drop the subject."

It may take a while to find out if Dimon is right in his thinking. Bitcoin isn't expected to reach the 21-million mark until 2040.

Check This Out: If You Invested $1,000 In Bitcoin When Tesla Bought The Crypto, Here's How Much You'd Have Now

Originally published on Jan. 19, 2022.

Photo: Tumisu from Pixabay.

2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Jamie Dimon Is Bullish On Blockchain, But Not Bitcoin Satoshi ... - Investing.com UK

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March 24th, 2023 at 12:21 am

Posted in Satoshi Nakamoto

Behind the : foundations of cryptocurrency – The Michigan Daily

Posted: at 12:21 am


Cryptocurrency has been a controversial topic in global finance since Satoshi Nakamoto published a white paper which made Bitcoin, a digital currency, a plausible reality in 2008. For the past fifteen years, the value of Bitcoin and other similar cryptocurrencies has been volatile and unpredictable, leaving many investors wary of them.

Cryptocurrency initiatives are gaining a larger presence on campus. At the University of Michigan, there are three student organizations dedicated to investment and research in cryptocurrency and related technologies: the Michigan Cryptocurrency Investment Club, Wolverine Blockchain and Blockchain at Michigan.

LSA Sophomore Evan Solomon, co-founder and president of MCIC, spoke with The Daily on how cryptocurrency may be gaining legitimacy. He cited cryptocurrencys institutional use in large, accredited financial institutions like investment banks. The fact that these banks trust cryptocurrency assets enough to invest in them, Solomon said, may be a signal that cryptocurrency can be reliable.

We had the (vice president) of Onyx, (J.P. Morgans) blockchain solution, come to campus for an event, Solomon said. (People) think that the banks arent using Blockchain yet, but thats not really true Once the student body understands that even the big banks are starting to pick up blockchain, theyll start realizing how wide scale the industry really is and how, at this point, its kind of too big to fail.

Solomon said MCIC works with companies to conduct technical or market research for them. One of the projects MCIC is currently working on is for a mapping company called Hive Mapper. Solomon said the company rewards users with their own proprietary cryptocurrency.

One of the companies were researching is called Hive Mapper. Solomon said. (It) is a competitor like Google and Apple maps, where people will be able to drive around and video the landscape of different areas and actually build out their own mapping solution. And, the people that are doing so will get rewarded and specific tokens for this product.

Business freshman Namhoon Lee, a member of MCIC, also spoke with The Daily about how the club does financial research for cryptocurrency. He said much of cryptocurrency research, like other kinds of financial asset analysis, requires context. According to Lee, understanding the market helps investors minimize their losses and protect themselves.

We try as best as possible to take preventive measures, Lee said. That could be reducing whatever risk we have, or whatever exposure we have, and also (beginning) to think about what would be the (long term) effects.

Some of the technical research that is being pursued more by U-M faculty regards in cryptography, which uses advanced mathematical structures to safeguard information. Cryptography is used by cryptocurrencies like Bitcoin, which require secure financial networks to transfer currency. In an interview with The Michigan Daily, Chris Peikert, professor of computer science and electrical engineering at the University of Michigan, explained the development and use of modern cryptography.

The basic idea of cryptography from the beginning was how to communicate with somebody in a secure way so that your enemy or your attacker, or your adversary, cant understand what youre saying, Peikert said. Crypto means secret and graph means writing, so it literally means secret writing.

One of the main problems cryptography researchers at the University focus on is the quantum apocalypse, which refers to the use of incredibly powerful quantum computers to break through all encrypted security systems that are being currently used. Peikert explains why this kind of computing is apocalyptic.

In the early 1990s, it was shown that if you had a big enough large scale quantum computer, you could use it to break all of the most popular crypto systems that were out there, Peikert said. The quantum crypto apocalypse is (when) somebody eventually builds that quantum computer and uses it to break all the cryptography that weve been using for 40 years.

This poses threats to national security and intellectual property, and is applicable to conversations about cryptocurrency, as shown by the recent fall of FTX. A breach of a cryptocurrency ledger would mean an attacker could steal or counterfeit hundreds of millions of dollars in digital assets. Peikert and other U-M researchers are focusing on counter-measures to the quantum apocalypse to protect against these worst-case scenarios.

We want to design crypto systems that can run on todays hardware, but will be secure against quantum attacks in the future, Peikert said.

Peikert explained that computer science theory and research is often different from traditional lab-based research.

Computer science theory is really all about what computers can and cant do in a fundamental sense, Peikert said. What can they do with certain resources, within a certain amount of time or with a certain amount of space? What kind of tasks are solvable, and what kind of tasks maybe arent solvable, or (are believed to be) not solvable?

Peikert then spoke on how cryptography and cryptosystems sets of algorithms implemented to provide information security are explored to develop obstacles for cyber-attackers.

In cryptography, we use problems that we think are not feasibly solvable as the basis for the security of cryptosystems, Peikert said. So, if we need to, we use some problem that we think is hard (for attackers) to solve.

Creating hard problems the kind that require a lot of computation to solve is useful in cryptocurrency, which can use cryptography to secure the identities of people holding, transacting and verifying cryptocurrency. It also makes sure that cryptocurrencies cannot be counterfeited or stolen by legitimate users.

Daily Staff Reporter Amer Goel can be reached at amergoel@umich.edu.

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Behind the : foundations of cryptocurrency - The Michigan Daily

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March 24th, 2023 at 12:21 am

Posted in Satoshi Nakamoto

VIDEO: What is XRP and what does it do? What is Ripple? – InvestorsObserver

Posted: at 12:21 am


2023-03-21 11:33:37 ET

Cryptocurrency is not an old industry. Bitcoin kicked off the industry as we know it when Satoshi Nakamoto mined the Genesis block on January 3rd 2009, as the world reeled from one of the worst financial crashes in recent memory.

Only three years later, XRP was launched, a decentralised asset built for payments. Today, it remains one of the most well-known and biggest cryptocurrencies, currently sitting in sixth place with a market cap of close to $20 billion.

And yet, so many are still confused as to what XRP does, as well as the distinction to Ripple, the company behind it. This week on the Invezz podcast, I interviewed Brendan Berry, Payment Products Lead at Ripple, to get into the weeds of what exactly XRP is, what Ripple is, and the distinction between the two, as well as what they both do.

We covered a bunch of topics. One of these was the issues with conventional banking a particularly pertinent topic given the startling events in the sector over the last couple of weeks.

But we focused mainly on payments. Ive criticised the process behind bank transfers, and I put to Brendan my curiosity around what feels like a total lack of innovation in the digital age from banks. I asked him about fees and lag times and why these were taking days for cross-border payments.

Of course, this is a big reason why XRP exists. We talked about the ins and outs of this, as well as a subsection within the area of payments: remittances. When I visited El Salvador last summer, I was fascinated by this area but the data shows that the pickup hasnt happened yet. I wanted to get Brendans take on this and how XRP can contribute in this area.

We also discussed the future of crypto, including what Brendan believes will be a streamlining of the front-end experience of a lot of transactions within the space.

Another topic we touched on was whether the recent banking turmoil would push people further into crypto, and what this could mean for the industry, and XRP, going forward.

All in all, it was a wide-ranging discussion centred on payments and what role XRP could have in this world.

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VIDEO: What is XRP and what does it do? What is Ripple? - InvestorsObserver

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March 24th, 2023 at 12:21 am

Posted in Satoshi Nakamoto

The Mount Rushmore of Crypto 2023? Bitcoin, Ethereum, Cardano … – Euro Weekly News

Posted: at 12:21 am


As we brace ourselves for a turbulent crypto year, the market has seen expansions of more than $80 billion despite the Securities and Exchange Commissions (SEC) stringent regulations. Crypto markets are finally displaying signs of a bullish run and accelerating speed after a challenging first, ignoring any obstacles or unfavourable news.

The newest meme coin in the cryptoverse, Big Eyes Coin (BIG), is in the lead after raising over $31.5 million during its presale. Only time will be able to determine when and where this will land. On the other hand, Bitcoin and Ethereum are two crypto industry leaders. Bitcoin dominated the market, and users followed SEC regulations when converting other cryptocurrencies into BTC. Players like Cardano are also putting themselves out there.

The king of cryptocurrencies, Bitcoin (BTC), reached a height of $24,755 as we entered the second half of February. This was the highest level since June 2022. The value of BTC soared once many users and investors shifted their funds away from other cryptocurrencies and towards the crypto beast. BTCs price at the time of writing was $24,551, up almost 10% over the previous day, and it had a $473.59 billion market cap.

In order to establish an autonomous and interconnected network of digital currencies, Satoshi Nakamoto, a mysterious person or entity, launched Bitcoin as a different means of payment in 2009. Bitcoin uses a Proof-of-Work (PoW) technique to verify transactions, and the digital currencys 21 million coins are in limited supply.

Like Bitcoin, Ethereum (ETH) experienced growth and increased by more than 8% to $1,700. In August 2022, Ethereums last value of $1,800 was recorded. ETH was worth $1,683 and had a market value of $205.75 billion at the time of writing.

In addition to serving as a platform for decentralised apps and smart contracts, Ethereum debuted as a De-Fi coin in 2015. Its security, and reliability make it the platform that consumers and developers want the most in the world compared to Bitcoin. Ethereum relied on the Proof-of-Work method, but last year the network saw a shift PoS (Proof-of-Stake), which is quicker, requires less energy, and is more secure.

A blockchain that uses proof-of-stake is called Cardano (ADA). As a result, the coins energy efficiency is increased. Traditional proof-of-work consensus requires more mining and transaction time. The blockchain was created in 2017, and the Alonzo hard fork was introduced four years later. It has smart contract capability as a result. Smart contracts encrypted security makes them tough to hack. Transactions using the proof-of-stake mechanism can be done very quickly, effectively, and precisely!

Cardanos dedication to transaction security has aided in the platforms growth into a potent blockchain. Its greenness is aided by the quickness and effectiveness of its transactions as well as its smart contract. The likelihood of investing being successful is high.

Big Eyes Coin (BIG) is a community-owned, meme-themed cat coin that aims to improve the environment of the planet while also providing useful services and use cases. Big Eyes Coins presale has already reached $31 million, and it now aims to achieve $50 million by the end of the presale. This brand-new meme coin has a cat as its symbol, and it has the potential to grow into the biggest meme coin ever.

In the past few weeks, Big Eyes have run a number of marketing initiatives, including a tattoo competition, discount codes, and the great set of loot box offerings that are currently available.

The community-led token has repeatedly shown that it is here to stay and has a bright future ahead of it, dispelling any concerns being expressed by these crypto gurus, despite some internet critics casting doubt on the currency and its genuineness.

With incredible technological advancements, usability, accessibility, NFTs, loot boxes, and more, Big Eyes Coin is aiming to establish itself as a crypto mainstay.

Presale: https://buy.bigeyes.space/

Website: https://bigeyes.space/

Telegram: https://t.me/BIGEYESOFFICIAL

Sponsored

WARNING: The investment in crypto assets is not regulated, it may not be suitable for retail investors and the total amount invested could be lost

AVISO IMPORTANTE: La inversin en criptoactivos no est regulada, puede no ser adecuada para inversores minoristas y perderse la totalidad del importe invertido

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The Mount Rushmore of Crypto 2023? Bitcoin, Ethereum, Cardano ... - Euro Weekly News

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March 24th, 2023 at 12:21 am

Posted in Satoshi Nakamoto


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