Artificial intelligence, or AI for short, is a type of technological advancement that aims to work like the human brain, autonomously completing functions. As a computer science, artificial intelligence technology has been a developing field of study since the 1950s. As for its use cases, AI examples include voice recognition services, self-driving cars, chatbots and more. Machine learning falls under the umbrella of artificial intelligence, representing AI that can make adjustments on its own. What’s the latest in AI? Cryptoonaut covers the latest AI news and trends as it explores topics related to the future of money. Readers can find artificial intelligence news on the latest artificial intelligence technologies, the future of AI and more under Cryptoonaut’s artificial intelligence tag.
TheBRICSallianceisgrowingstrongerasitcontinuestoreflectshiftstoalternativeassetclasseslikeBitcoinandXRP.Whilethespeculationregardingashifttocryptocurrencyisgrowing,RussianPresidentVladimirPutinjustsharedinsightintowhattoexpect.
Beforebitcointookthespotlight,severaldigitalcurrenciesaimedtochangethewayweexchangevalue,butnonecouldwithstandthetestoftime.Ecash,E-gold,LibertyReserve,andQcoinseachhadtheirmoment,onlytofallshortintheend.Thispiecedivesintotheirstoriesanduncovershowbitcoin,introducedbySatoshiNakamotoin2008,managedtooutlivetheseearlydigitalmoneyexperiments. HowBitcoinSurpassedItsPredecessors:Ecash,E-gold,LibertyReserve,andQCoins Bitcoinwasn’tthefirstattemptatdigitalcurrency.Yearsbeforeitsdebut,ahandfulofsystemsemerged,allstrivingtocreatenew,decentralizedwaysoftransferringmoney.Ecash,E-gold,LibertyReserve,andQcoinswereamongtheearlyinnovators.Thougheachsystemhaditsownbrightideas,theycouldn’tavoidthepitfallsoflegaltrouble,centralization,orlackoftrust.Ontheotherhand,bitcoin(BTC)wasabletonavigatethesehurdles,establishingitselfasasuperiorformofdigitalcurrency. Ecash(1990) Ecashkickedoffthedigitalcurrencyerain1990,createdbycryptographerDavidChaumthroughhiscompany,Digicash.Basedonthenovelconceptof“blinded”cryptography,italloweduserstomakeanonymoustransactions.Ecash’sgoalwassimple:letpeopletransferfundswithoutrevealingtheiridentity,offeringaprivatewaytopayonline. DavidChaum’sEcashdigitalcurrencyshouldnotbeconfusedwiththecryptocurrencythatleveragesthesamenameecash(XEC)aforkoftheBitcoinCash(BCH)network. However,Ecashhadonemajorweakness—itwascentralized.UsershadtorelyentirelyonDigicashtomanagethecurrency,whichleftthesystemvulnerable.Withoutwidespreadadoptionandrunninglowonfunds,Digicashfiledforbankruptcyin1998,andEcashquietlydisappeared. E-gold(1996) Launchedin1996byDouglasJacksonandBarryDowney,E-goldtookadifferentapproachbybackingitsdigitalcurrencywithphysicalgold.Italloweduserstotransfergoldelectronically,withtheplatformactingasacustodianfortheassets.FansofE-goldappreciateditsabilitytofacilitateinternationaltransactionswithoutneedingtraditionalbanks. ButlikeEcash,E-gold’scentralizedstructurebecameitsundoing.Theplatformallegedlybecameahavenforillegalactivities,drawingtheattentionofU.S.regulators.In2008,afteritsfoundersfacedcriminalchargesforunlicensedmoneytransfers,E-goldwasforcedtoshutdown. LibertyReserve(2006) FoundedbyArthurBudovskyin2006,LibertyReserveaimedtomakecross-borderpaymentseasyandanonymous.UserscouldsendmoneyusingLibertyReserveunits,peggedtomajorcurrenciesliketheU.S.dollar.Whileitbecamepopular,italsoattractedthewrongkindofattention—likeE-gold,itreportedlybecameamagnetforillicittransactions. By2013,LibertyReservewasatthecenterofamassivemoneylaunderingscandallaunchedbytheU.S.government,ofcourse,involvingover$6billioninillegaltransactions.Budovskywasarrested,andtheplatformwasseizedbylawenforcement,puttinganendtoitsrun. QCoins(Early2000s) Introducedintheearly2000sbyChinesetechgiantTencent,Qcoinswereinitiallymeantforin-apppurchasesonitsQQmessagingplatform.UserscouldbuyQcoinswithyuantoaccessvirtualgoods,andastheirpopularitysoared,theystartedtobeusedoutsidetheplatform,fuelingamini-economy.Onceagain,agovernmentalsodecidedithadenoughoftheQcoineconomy. RegulatorsinChinaweren’tthrilledaboutQcoins’growinginfluence.Concernsoverthecurrency’slackofregulation(theusualgovernmentcomplaint)ledtoincreasedrestrictions,whichultimatelylimitedQcoins’potentialtobecomeabroaderformofdigitalcurrency. WhyBitcoinSucceededWhereOthersFailed ThefatalflawsharedbyEcash,E-gold,LibertyReserve,andQcoinswascentralization.Eachreliedonasingleauthoritytooperate,whichmadethemeasytargetsforshutdownsandlegalproblems.Bitcoin,however,solvedthisissuebydecentralizingcontrol.DesignedbythemysteriousSatoshiNakamoto,bitcoinrunsonapeer-to-peernetwork,freefromdependenceonanysingleentity. Bitcoin’sdecentralizationcomesfromitsblockchaintechnology,wheretransactionsareverifiedbyaglobalnetworkofpublicandprivatenodesandminersverifyingtransactions.Thismakesitmuchhardertocensor,seize,orshutdowncomparedtoitspredecessors.Plus,bitcoin’ssupplyiscappedat21millioncoins,makesitmoreimmunetoinflationarypressures—afeaturethatfiat-baseddigitalcurrencieslikeQcoinscan’toffer. Unliketheearlierdigitalcurrencies,bitcoinusesatransparent,publicledger,soanyonecanverifytransactionswithoutneedingtotrustacentralauthority.Thisblendofdecentralization,transparency,andsecurityhashelpedbitcoincementitsstatusasastrongandreliabledigitalcurrency.Moreover,asthenetworkapproachesits16thyearoflife,bitcoinisnowthetenthmostvaluableassetintheworld. WhileEcash,E-gold,LibertyReserve,andQcoinsallcontributedtothedevelopmentofdigitalcurrency,theircentralizeddesignsultimatelyledtotheirdownfall.Incontrast,bitcoin’sdecentralized,securearchitecturehasallowedittothrive,becomingthemostwidelyuseddigitalcurrencyintheworld.Asaresult,bitcoincontinuestoshapethefutureoffinanceinwaysitspredecessorsnevercould. Whatareyourthoughtsonthissubject?Letusknowwhatyouthinkinthecommentssectionbelow. news.bitcoin.com
Blueskyistakingofflikearocket,andElonMuskmight\'vejustlitthefuse.Thedecentralizedsocialplatformhitthe12millionusermarkthisweek,reportingamassivesurgeofgrowthsinceitslatestmilestoneof10millionuserssurpassedjustlastmonth. TheplatformreportedFridaythatitreceivedover1millionnewsignupsina48-hourperiod. Whatsparkedthisdigitalgoldrush?LooknofurtherthanMusk\'sTwitter(akaX).Thebillionaire\'sbeenonquitearolllately,butnotthegoodkind.Thisweekusersfoundoutaboutthreemajorchangesintheplatform’spolicies,someofwhichhaverubbedlongtimetweetersthewrongway. Thefirstoneisaprivacypolicyupdate.Twitterisamendingitsprivacypolicytoallowthird-partyAIdeveloperstotraintheirmodelsonuserdata.Thischange,settotakeeffectonNovember15,hasraisedconcernsaboutdataprivacyandusage—andthereisnoclearwaytoopt-out. Nextissomethingthatmaybeworrisometoamoremainstreamuserdatabase:Twitterisessentiallyremovingtheblockfunction\'sabilitytopreventusersfromviewingcontent.Thischangesignificantlyweakensusercontrolovertheironlineexperience,andhasbeencriticizedforpotentiallyexposinguserstoharassment. Soonwe’llbelaunchingachangetohowtheblockfunctionworks. Ifyourpostsaresettopublic,accountsyouhaveblockedwillbeabletoviewthem,buttheywillnotbeabletoengage(like,reply,repost,etc.). —Engineering(@XEng)October16,2024 Finally,TwitterismovingitslegaljurisdictionfromCaliforniatotheNorthernDistrictofTexas,anareaknownforitsconservativejudgeswhichtendtobemorealignedwithElon’sfar-rightviews.Thismovehasraisedeyebrowsamongusersandcriticsalike. Wow:Twitter\'snewToSsaysalldisputeswillbeheardinU.S.DistrictCourtfortheNorthernDistrictofTexaslocatedinTarrantCounty(TeslainvestorReedO\'Connor\'scourt) Trulyremarkable,consideringTwitter\'snewHQisNOTinthisdistrict,butinwesternTexas.pic.twitter.com/IoJgrVgytq —BobbyAllyn(@BobbyAllyn)October17,2024 BlueskyisnotbeingshyaboutcapitalizingonTwitter\'smess.Theplatformisplasteringits\"user-first\"approachallover...well,Twitter. “AtBluesky,wetakeonlinesafetyseriously,”Bluesky’sofficialXaccounttweeted,“Ifyouwanttoblocksomeone,youcan!It\'syourexperiencetocustomize.” UserswerequicktopointouthowthispolicyupdatewouldplayagainstTwitter’simage,andtheywerecorrect.TheofficialBlueskyaccountispracticallydoingavictorylap,boastingaboutitsrecordgrowthjustadayafterMusk\'slatestpolicychanges. notnowhoneythelineisstillgoinguphttps://t.co/x6v5YW0WFTpic.twitter.com/b4uPlDssiV —bluesky(@bluesky)October18,2024 SosignificantwastheinfluxthatBluesky’sserverscollapsedduetotheunexpectedtrafficspike.Infact,theapphasbeentoppingthechartsinmanycountrieslikeJapan,andreachedthetop5onApple’siOSAppStoreintheUnitedStates. Musk’smeddlingmaybebenefitingBluesky,butTwitterisfinanciallybleedingout.Fidelity\'slatestestimateputsTwitter’svalueatameasly$9.4billion—that\'san80%nosedivesinceMuskboughtitforover$44billionin2022.Thisdeclineisfurthercompoundedbyadvertiserswithdrawingduetoconcernsoverbrandsafetyandplatformstability. Thisisn\'tthefirsttimeBlueskyhasbenefitedfromTwitter\'scontroversies.TheplatformsawasignificantuptickinuserswhenTwitterwastemporarilybannedinBrazilduetocontentmoderationissuesandarefusaltopayfines.Atthattime,Blueskygainedapproximately3millionnewusersinjustoneweek,andreachedatotalof10millionusersmostlythankstoBraziliansjoiningin. “Welcometotheonemillionnewusersinthelastthreedays,”theplatformsaidbackthen.“ThisisnowaBrazilianapp,”itrepliedinPortuguese. Bluesky\'srapidascentisreflectedinitsimpressiveengagementmetrics:473millionposts,448.5millionfollows,and1.8billionlikes,withFridaybeingthemostactivedayyetintermsofengagementaccordingtodatasharedbyoneofitsofficialdevelopers. Associalmediausersbecomeincreasinglyconcernedaboutdataprivacyandplatformcontrol,thelandscapeappearstobeshifting. Bluesky\'sdecentralizedmodelandemphasisonuserautonomyareclearlyresonatingwiththoseseekingalternativestotraditionalsocialmediagiants,especiallynowthatusersaremoreawareofhowcompaniesusetheirprivatedataandinteractionstoprofitandtrainAImodels. Bluesky,ofcourse,spawnedfromTwitter—albeitunderpreviouslyleadership.In2019,underco-founderandformerCEOJackDorsey,TwitterseededtheteamthateventuallyspunoutandlaunchedBluesky,taskingthemwithdevelopingadecentralizedprotocolthatcouldonedayevenpowerTwitteralongwithothersocialapps. ButnowwithMuskincharge,BlueskyhasinsteadbecomethemostprominentTwitterrivalnotoperatedbyamassivetechgiant.Andit\'sonlygrowing. EditedbyAndrewHayward decrypt.co
Nearly70%ofinstitutionalinvestorsholdingEthereum(ETH)areengagedinstaking,with52.6%ofthemholdingliquidstakingtokens(LSTs),accordingtoaBlockworksResearchreport. NearlyhalfofinstitutionalinvestorsstakingETHprefertouseonlyoneintegratedplatform,suchasCoinbaseandBinance.Meanwhile,60.6%ofthesurveyparticipantsalsoutilizethird-partystakingplatforms. Accordingtothereport,oneoutoffiveinstitutionalinvestorssurveyedhadover60%oftheirportfolioallocatedtoEthereumoranETH-basedLST.Thesurveyincludedexchanges,custodians,investmentfirms,assetmanagers,walletproviders,andbanks. Thereportrevealedthatthekeytraitstakenintoconsiderationbyrespondentswhenchoosingastakingproviderwerereputation,rangeofnetworkssupported,price,simpleonboarding,competitivecosts,andexpertiseandscalability. Liquidityandsecuritywerealsodeemedthemostimportantfeaturesforinstitutionalinvestorswhendecidingwhetherstakingisaviableoption.Onascalefrom1to10,liquidityscoredanaverageimportanceof8.5,reflectingconcernsaboutexitinglargeLSTpositionsifnecessary. Meanwhile,securityscoredevenhigher,withanaverageimportanceratingof9.4,drivenbyworriesoverwithdrawalefficiencyinvolatilemarketconditions.Additionally,61.1%ofrespondentsindicatedtheywouldbewillingtopayapremiumforenhancedsecurityandfaulttolerance. Geographiclocationalsoplaysarole,withhalfofinstitutionalinvestorsconsideringavalidator’slocationimportantwhenchoosingastakingplatform. Riseofliquidstaking Thereportalsohighlightedthattheriseofthird-partystakingplatformsisdrivenbytheincreasingpopularityofLSTs.ThesetokensaddresstheinitialissueswithETHstakingwhenuserslosetheirliquiditybylockingittohelpwithnetworksecurity. Furthermore,duetotheirpopularity,variousDeFiapplicationshavestartedintegratingLSTintheirservices.Thishassignificantlyimprovedliquidityandisoneofthekeyreasonsbehind52.6%ofinstitutionalinvestorsholdingLSTs,accordingtothereport. ThereportnotedthatliquidstakingisdominatedbyLidoProtocolanditsLST,stETH,with54.5%ofrespondentsinvolvedinliquidstakingholdingthistoken. ThisconcentrationcreatesadynamicwherelargeLSTsbenefitfromeconomiesofscale.Greatermarketparticipationattractsmoreoperatorsthroughhigherfeeopportunities,whichinturnimprovessecuritybydistributingvalidationacrossmoreoperators.However,thisalsoleadstoconcernsaboutcentralizingvalidationpowerinafewprotocols—anissueflaggedby78.4%ofrespondents. Restakinganddistributedvalidators Restakingisanotheremergingtrend,withamajorityofinvestorsexpressinginterestinthetechnologydespiteseveralconcernsaroundaddedrisks. RestakingallowsvalidatorstousestakedETHacrossmultipleprotocolssimultaneouslyandreceiveliquidrestakingtokens(LRTs)tocaptureadditionalyield. However,itintroducesaddedrisks,suchasslashing—apenaltythatreducesavalidator’sstakedETHformaliciousbehavior.Thereportalsopointedtoriskslikeprotocol-levelvulnerabilitiesandthepotentialforfurthercentralizationofvalidators. Despitetheseconcerns,82.9%ofrespondentswereawareoftherisksassociatedwithrestaking,and55.9%ofinstitutionalinvestorsexpressedinterestinstakingETH,indicatingafavorableoutlookforrestaking. Institutionalinvestorsviewvalidationpowercentralizationasariskydevelopment,with65.8%sayingtheywereawareofdistributedvalidator(DV)services. cryptoslate.com
Worldcoin,theSamAltman-backeddigitalidentityinitiative,announcedamajorrebrandasWorldandunveiledambitiousplanstogrowitsuserbaseto1billionpeopleduringakeynoteaddressonOct.17. Thekeynote,ledbyco-foundersAltmanandAlexBlania,markedasignificantshiftintheproject’strajectoryafteritannouncedaseriesofkeyupdatesdesignedtodriveglobaladoptionofitsdecentralizedidentityplatform. TheupdatesincludedthelaunchofWorldChain,anEthereum-securedLayer2blockchain,andtheunveilingofanewversionoftheproject’sbiometricOrbdevices. Acceleratinggrowth TherebrandinghighlightsWorldNetwork’sevolvingmission,transitioningfromitsoriginalidentityverificationmodeltoabroader,moredecentralizednetwork. With15millionuserscurrently,including7millionverifiedthroughitsOrbtechnology,theplatformhassetitssightsondramaticallyincreasingthatnumberasitlookstoonboardabillionverifiedhumanusers. Blania,whoisalsotheCEOofToolsforHumanity,notedthattheprojectisnowfocusedonscalabilityanddecentralization.Hesaid: “Today,wearetakingthenextbigstepinourmission—scalingtheWorldNetworktoreach1billionusers.” World’snewversionoftheOrb,whichscansauser’siristoverifytheiridentity,iscentraltotheproject’sambitiontogrowitsglobalfootprint.BlaniasaidWorldwilltripleitsproductioncapacityandexpandintonewcountries,includingflagshiplocationsinBuenosAiresandMexicoCity. TheupdatedOrbswillbemadeavailableinpublicspacessuchascafesandwillevenbedeliverableondemand,partofawiderefforttomakeverificationmoreaccessible.TherolloutofthesenewOrbsisexpectedbyspring2025. WorldChainanddigitalidentity Alongsidetheexpansionofitsbiometriccapabilities,WorldofficiallylaunchedWorldChain,aLayer2blockchainbuiltontheEthereumnetwork. Theblockchainisdesignedtosupportmillionsofusers.Onitsfirstday,theprojectclaimed15millionregistrationsglobally.Accordingtothecompany,thismakesWorldChainoneofthelargesthumanverificationblockchainsinexistence. TheWorldApp,acentralcomponentoftheproject,isbeingupdatedtoVersion3.0.ThisupdatewillallowuserstomanagetheirWorldIDcredentialsandaccessotherservices,suchasWorldPay,adecentralizedpaymentsystem,andWorldChat,amessagingtool. TheappwillalsointroducegamesandamessagingsystemcalledWorldChattofurtherengageusersandonboardmoreparticipants.Altman,whoalsoleadsOpenAI,saidWorldaimstobe“theanonymoushumanlayerfortheinternet,”helpingpeopledistinguishthemselvesfromAIactors. HefurtheremphasizedthegrowingimportanceofhumanidentityverificationasAIcontinuestoadvance.AccordingtotheOpenAICEO: “AsAIbecomesmoreintegratedintoourlives,havingatrustedhumanverificationlayeriscritical.” cryptoslate.com
AnalystshaveobservedDogwifhat(WIF)formingarisingwedge,whichmaysignalanupcomingbearishreversaldespiterecentpricegains. IfWIFmaintainssupportat$2.50,itcouldreboundto$3.10,thoughrisksofadownsidebreakoutremainhigh. TradersarecloselymonitoringWIF’spriceperformancenear$2.50,withanalystsforecastingapossibleriseto$3.20beforecorrection. AccordingtoarecentobservationbyrenownedcryptoanalystAliMartinez,Dogwifhat(WIF),ameme-basedcryptocurrencybuiltonSolana,maybeheadingforabearishreversal.HenotedthatWIFcouldbeformingarisingwedge,atechnicalpatternthatoftensignalsareversalinpricedirection. #Dogwifhat$WIFcouldbeformingarisingwedge!Ifthelowerboundaryat$2.50holds,wecouldseeareboundto$3.10!pic.twitter.com/xg3sy3tyfo —Ali(@ali_charts)October17,2024 Anupwardpriceformationcharacterizesthispattern,butthespacebetweenwavehighandwavelowiscontracting,andbothlinesconverge.Theupperlineistoindicatethehighs,whilethelowerlineisusedtoplotthelows.Whilethischartpatterndoesshowanincreaseinitially,itisoneofthemostbearishreversalsoncesupporthasbeenviolated. AnalystPrediction:PotentialReboundBeforeaDecline AliMartinezsharedhisanalysisoftheWIFmarket,forecastingthatifthecryptocurrencyholdsitslowerboundarysupportat$2.50,itcouldreboundtoward$3.10.Despitethisshort-termpositivemovement,Martinezwarnsthattherisingwedgepatternimpliesalikelihoodofasignificantdroponcethewedgebreaksdownward. Currentlytradingnear$2.50,Dogwifhatcouldriseto$3.20percoinafterapotentialcorrection,providedthesupportholds.However,thepatternalsosignalsapossiblesharpdecline,meaningthattradersshouldremaincautiousofadownwardbreakoutinthefuture.Thisposesachallenge,aspricescanrisewithinthewedgewhilesuggestinganeventualbreakdown. MarketResponsetothe$2.50Support TradersremainfocusedonDogwifhat’sperformancearoundthecritical$2.50supportlevel.Shouldthissupportremainintact,ashort-termupwardmovementseemslikely,butthelong-termoutlookcouldinvolveadownwardtrend.ThecomingdaysarecrucialfortraderswatchinghowWIFreactstothe$2.50supportboundary. cryptonewsland.com
MogCoin’spricejumps12.86%,withmarketcaphitting$809.56Mandtradingvolumeup39.06%,signalingstronginvestorinterest. Michi(SOL)reboundsmidday,rising12.42%,buttradingvolumedips4.21%,hintingatcautiousinvestorsentiment. CatinaDogsWorld(MEW)seesa20.56%priceriseandamassive192.21%surgeinvolume,drivingmarketcapto$698.38M. Thecryptocurrencymarketsawnotablefluctuationsacrossvarioustokensinthepast24hours.MogCoinsurgedby12.86%,Michipostedasolid12.42%gain,andCatinaDogsWorldledtherallywithamassive20.56%spike.Othertokens,likeSimon’sCatandPopcat,alsoshowedpositivemomentum,hintingatgrowingmarketinterest. MogCoin(MOG)Surges12.86%withRisingDemandandTradingVolumeBoost Currentprice:$0.000002079 Marketcap:$821.42M ThepriceofMogCoin(MOG)indicatedthatitfluctuatedinthelastoneday.Atthetimeofwritingitis$0.052072anditis12.86%morethanthepreviousrate.Themarketcapitalizationsimilarlyadvancedto$809.56M,whiletradingvolumegained39.06%,thetradingvolumebeing$35.60m.Thetotaloutstandingsupplyis390.57trillionofMOGtokens,whilethemaxsupplyofthiscoinis420.69trillion.Thisimpliesthattherewastradingactivityanddesireforsuchatokenoverthisperiod. Michi(SOL)RidesVolatilityWave,Posts12.42%PriceIncrease Currentprice:$0.2774 Marketcap:$154.21M ThegraphshowstheperformanceofMichi(SOL)tokenovera24-hourperiod,withthepriceincreasingby12.42%to$0.2749.Themarketcaphasgrownto$152.77million,whilethetradingvolumedecreasedby4.21%to$10.40million.Thetokenhasatotalandcirculatingsupplyof555.77million$MICHI.Thepricestartedbelow$0.245,withadownwardtrendearlyintheday,followedbyasharprecoveryaroundmidday.Itpeakedabove$0.29beforeslightlyretreatingtothe$0.27rangebytheendoftheday.Thepricemovementindicatessomevolatilitybutoverallpositivegrowth. CatinaDogsWorld(MEW)SeesExplosive192%SpikeinTradingVolume Currentprice:$0.008081 Marketcap:$725.40M TheCatinaDogsWorld(MEW),whichiscurrentlyranked#102inthemarket.MEWis$0.007857ata20.56%increaseinthelast24hours.Themarketcapitalizationisabout$698.38million,andthe24-hourtradingvolumeisaround$146.78million,Whichincreaseddramaticallyby192.21%fromthelast24hours.Thefundamentalvaluessuchasfullydilutedvaluation(FDV)is$698.38millionandthetotalMEWsupplyis88.89millionandallMEWtokensareincirculation. Simon’sCat(CAT)TokenShowsResiliencewith8.71%GainandVolumeSurge Currentprice:$0.00002694 Marketcap:181.85M ThegraphshowsthepricerangeofSimon’sCat(CAT)tokenwithin24hours.From$0.00002474,itinitiallydroppedinearlyhoursofthedayreaching$0.00002435.However,arecoverywasobservedsoonandthepricegraduallyascendingfurtherupuntil$0.0000270nearlyattheendoftheday.Thetokenhasgained8.71%overthepast24hours,withasignificantvolumesurgeof43.23%,suggestingincreasedtradingactivityandpositivesentiment.Themarketcapitalizationis$180.35M,withacirculatingsupplyof6.75TCAT. Popcat(SOL)SeesSteadyClimbasPriceHits$1.42Amidst69%VolumeJump Currentprice:$1.42 Marketcap:$1.39B ThechartdisplaysthepricemovementofPopcat(SOL)over24hours,currentlypricedat$1.42,reflectinga3.06%gain.Themarketcapstandsat$1.39billion,withafullydilutedvalue(FDV)matchingthemarketcap.Thetradingvolumeby69.49%to$145,220,690supportedthevolumetothemarketcapitalizationratioof10.44%.Thepricewasalsomovingduringthedayandrangedbetween$1.37and$1.47.Asharpupwardmovementoccurredaround4:00PMandafterthatreachedahighof$1.47beforedroppingslightlyandthenmaintainingthefluctuationjustabove$1.42.ThetotalcirculatingsupplyofPOPCATmatchesthetotalsupplyof979.97milliontokens. cryptonewsland.com
Saylor’schessanalogyhighlightstheneedforlong-termstrategicplanningwhentradingBitcoin. TheMicroStrategychairmanurgestraderstoremaincalmandavoidreactingtoshort-termmarketfluctuations. Despitevolatility,SaylormaintainshisstrongconfidenceinBitcoin’slong-termpotential. TheBitcoinpricehasfluctuatedgreatly,particularlyinthelast24hours,creatingsomeconcerninsomequarterswithinthecryptocurrencygoldTradingarea.OneofthepeopleinterestedinthisisMichaelSaylor,theKey’sChairmanforMicroStrategyandanactivesupporterofBitcoin.Saylor,whohasalwaysbeenbullishonBitcoin,recentlygaveanexampleofpushingforlong-termplanningtodealwithsuchanunstableenvironment. Saylor’sChessboardPostOffersGuidance InapostonX,Saylorsharedanimageofhimselfintentlystaringatachessboard.Thesetupemphasizedwhitepieces,king,queen,andknightsurroundedbymultipleblackpieces.Thecaptionsaid,‘BitcoinisChess,notCheckers,’meaningthattheBitcoinmarketsaresimplynotcheckersthatyoucaneasilydominateandwin;theyarechessand,therefore,willrequirestrategicthinkingandplanning. BitcoinisChess,notCheckers.pic.twitter.com/in2tQt87sk —MichaelSaylor⚡️(@saylor)October17,2024 Saylor’smanagementvisionofcomparingthecompanytothechessgamecouldsuggestthinkingmoreleaguesahead.Everymovedirectlyimpactsfutureoutcomesinchess,demandingplayerstostrategizeseveralstepsahead.SayloradvisesBitcointraderstomaintainpatienceandavoidshort-termpanicdespitecurrentfluctuationsinthemarket. Long-TermStrategyKeytoBitcoinSuccess ThenotionofbeingsurroundedbythechessboardmayreflecttheexistingsituationwiththewildpriceswingsofBitcoins.However,justasawiseandskilledindividualiscapableofwinningthegameamidhiscompetitor’spieces,SayloralsohintsthatthereissomethingthatmakesitpossibletorisetothemarketintheBitcoinmarket.Thetextofhispostisverysimilar:Italsohasthegoaltohelptradersnotgiveuponthebigpictureoftradingforthesakeofsomeshort-termfailures. SaylordoesnotdespairofBTCdespitethevolatilemarketpricetrends.Thishasremainedhiscoreconvictionofthefutureofthedigitalcurrencytohisinvestmentplanandwhathecommunicatesontheapplication.Morerecently,Saylorposteda“tothemoon”messageafterthecryptoassetpassed$68k,showingthathehasnotchangedhismindaboutthepotentialofdigitalcurrency. Saylor’sFocusonBitcoinStrategy SaylorhasrecentlypostednewmaterialfocusedonhowoneshouldthinkaboutinvestinginBitcoin.‘Ifyouwanttowin,youneedaBitcoinstrategy,’hehassaid.Hischessboardpostunderlinesthisbelief,whichencouragestraderstostandfirmintheirtradesduring‘storms’. cryptonewsland.com
Routingattackscanpartitionblockchainnetworks,enablingdouble-spending. Sybilattacksusefakeidentitiestogaindisproportionatenetworkinfluence. Smartcontractvulnerabilitieshaveledtosignificantcryptocurrencylosses. Despitebeingoneofthemostgroundbreakingtechnologies,blockchainhasnumeroussecurityissues.Novelresearchhasalsoestablishedthreatsthatmaydisruptblockchainnetworkswiththefollowingidentifiedasthreats;Thisarticleexaminesfourkeysecurityissues:Routingattacks,Sybilattacksandsmartcontracts,compromisedsmartcontracts,and51%attacks. TheStealthMenace:RoutingAttacks Thefourmostcomplextypesofattacksthatcanoccuronblockchainnetworksareroutingattacks.Intheseattacks,theattackerslayinwaitataspecificpointinthenetworkandwaituntiltheylaunchanattackonthenetworktrafficthatispassingfreelythroughthenodesoftheNetwork.Thiscanleadtothephenomenonknownasanetworksplitwhereinsteadofbeingonelargesystem,theblockchainsplitsintodifferentsections DeceptioninNumbers:TheSybilAttack TheSybilattackistheotherimportantweaknessoftheblockchainsystems.Thisattackhappenswhenonepersonsignsupinloomseveraltimestoactlikehehasmorepowerinthenetworkthanhepossesses.Sinceeachnodeinthisnetworkarchitecturecanbeaffected,theattackerinjectsthesefakenodesintothesystemtoacquirecontrolovermanynodesatonce,thusdefeatingtheprimarypurposeofdecentralizationinthenetwork. CodeFlaws:SmartContractVulnerabilities Despitetheideathatsmartcontractsareself-executingagreementsoperatingontheblockchain,theycancontainvulnerabilities,too.Anothertypeofmistakethatprogrammersmaymakecaneasilybeturnedintoasecurityflaw,suchasembezzlementoffundsorhijackingofasystem.Therehavebeenmanyhigh-profilemishapswhereduetothesesmartcontractvulnerabilities,millionsofworthofcryptocurrencyhasbeeneitherstolenortrapped. PowerPlay:The51%Attack Themostfamiliartypeofblockchainvulnerabilityisthe51%attack.Ittakesplacewhenonegroupormultiplerelatedgroupscontrolmorethan50%ofanetwork’scomputationalresourcesorcoinvotes.Withthismajoritycontrol,attackerscanbeabletoinfluencetheblockchainandbreakthechaintoreversethetransactionordoubleupcoins. cryptonewsland.com
Ancillamistakenlysharedawalletdrainerlinkduringthe$52MRadiantCapitalexploit. RadiantCapitallost$51.5Mafterhackersaltereditssmartcontracts. HackersgainedaccesstoRadiant’smulti-signaturewallet,exploitingthreeprivatekeys. A$52millionexploithittheDeFilendingprotocolRadiantCapital.Afterwards,securityfirmAnciliadidnothingbutworsenthissituationbysharingawalletdrainerlinkwiththem,mistakenlysendingvictimstoascamsiteinsteadofofferinghelp. Compromisingtheprotocol’sintelligentcontractsontoBNBChainandArbitrum,theattackersrequesteduserstorevokepermissions,protectingtheirremainingassets.Ancilia’smisguidedpostonlyleduserstoaphishinglink,increasingtheconfusionandrisk. SecurityErrorCompoundsRadiantHack Afterthebreach,RadiantCapitalusersturnedtocryptosecurityfirmsforadviceonprotectingtheirfunds.OneofthefirsttoreporttheexploitwasAncilia,whosharedahelpfullinktoallowuserstorevokepermissionsbelongingtotheexploitedcontracts. Nevertheless,thisredirectedvictimstoamaliciouswalletdrainerwalletscammeanttostealevenmorefunds.TheerrorresultedfromAnciliarepostingcontentfromanimpersonatoraccountthatmimickedRadiantCapital’sofficialX(formerlyTwitter)account. Earlier,theattackerswerebehindaRadianthackandhadrewrittentheprotocol’ssmartcontracts,exploitingthe‘transferFrom’function.Thisallowedthemto‘unlock’$515millionofdigitalassetslikeUSDC,WBNB,andETH.SincetherewereRadiantCapitalusers,theadvicewasrevoked.Cashisalegitimateservicethatdisconnectstheirwalletsfromcompromisedcontractsandpreventsfuturelosses. CommunityBacklashandResponse CryptocommunitymembersquicklycalledoutAncilia’smistakeandthefirm’snegligence.Theywarnedthattrustedsecurityfirmsmightinadvertentlyboostscamlinksinacrisis.Ancilladeletedthepostandapologized,sayingthattheofficialRadiantCapitalaccountshouldalwaysbewheretofindinformationfirst. 🚨~$58,000,000ExploitAlert🚨 RadiantCapitalcontractswereexploitedonBSC&ARBchainswiththe\'transferFrom\'function,whichallowedtodrainusers\'funds,namely$USDC$WBNB$ETHandothers ⚠️RevokeapprovalsASAP👇0xd50cf00b6e600dd036ba8ef475677d816d6c4281pic.twitter.com/oUHyshwEmL —De.FiAntivirusWeb3🛡️(@De_FiSecurity)October16,2024 CryptocommunitymembersquicklycalledoutAncilia’smistakeandthefirm’snegligence.Theywarnedthattrustedsecurityfirmsmightinadvertentlyboostscamlinksinacrisis.Ancilladeletedthepostandapologized,sayingthattheofficialRadiantCapitalaccountshouldalwaysbewheretofindinformationfirst. ThelatestscamtargetsraisedconcernsoverthesecurityoftheRadiantCapitalplatform,whichwasexploitedtwicein2024.InJanuary,hackersusedaflashloanattacktosteal$45millionfromtheprotocol.Afterthemostrecentbreach,Radiantworkedwithseveralsecurityfirmstoinvestigatewhathappenedandtohelppreventsuchexploitsfromhappeningagain. cryptonewsland.com
