Category Archives: Decentralization
NFT Twitter Is All Good Vibes AgainOn Bluesky – Decrypt
Social media platform Bluesky, which is built on a decentralized protocol and was incubated by Twitter before the Elon Musk era, is starting to capture buzz as the most promising rival to its progenitor.
And now, as the beta gradually lets in more and more users, Bluesky is starting to attract prominent NFT creators, artists, builders, and collectors. Over the past few days, a number of notable NFT and Web3 projects have established Bluesky accounts, and their creators, along with other artists and personalities, have also expanded out from Twitter.
Prominent creators, including DeGods and y00ts founder Rohun Frank Vora, pseudonymous Deadfellaz NFT project co-creator Betty, and Rug Radio co-founder and co-CEO Farokh Sarmad have made their way to the Twitter cloneand all of those projects have similarly established their own accounts. All three creators have tweeted about their Bluesky presence.
We hear youre here for the decentralization of media, so we had to join, Rug Radio posted on Bluesky this week. In a later message, it asked Bluesky users, What is decentralization to you?
Other Web3 creators who have joined include digital artists Vinnie Hager, Patrick Amadon, Ryan ThankYouX Wilson, and Pindar Van Arman, along with photographer John Knopf, pseudonymous Cozomo de Medici, and digital artist and September Mourning musician Emily Lazar.
Hager, who tweeted this week that he was "about to flood Bluesky with my art," did just that on the new platform, sharing a photo of a piece of artworka New York City subway map with his distinctive style of doodles on topwith the caption Blue Sky.
Vinnie Hager has been sharing his artwork on Bluesky. Image: Bluesky
Hes among many artists who are sharing and resharing artwork on the platform, and some Web3 enthusiasts have noted the prevalence of artwork on the platform so far.
My feed is all art. This app is heaven, wrote NFT Now founder and CEO Matt Medved, also a noted digital art collector. I started collecting on Tezos to decompress and appreciate art without any financial calculus. Bluesky feels like the social media equivalent, he added.
To be clear, all of these Web3 creators and personalities are still posting on Twitter, which has a dramatically larger user base and long-established accounts that have amassed followers. Twitter claims hundreds of millions of monthly users, while Blueskys user count appears to be in the ballpark of just tens of thousands in total amid the gradual, invite-driven beta rollout.
Twitter founder and former CEO Jack Dorsey launched what would become Bluesky in 2019, aiming to create a decentralized social media protocol that Twitter itself could someday adopt. After a couple of years of quiet development, the project emerged and spun out after Elon Musk became the owner and CEO of Twitter, raising $13 million in funding.
Many Twitter users looking to break free initially turned to Mastodon, a decentralized platform, but some found the experience lacking compared to the original site. This is where Bluesky enters the picture. As a more direct Twitter clone, Bluesky offers a familiar user experience and interface with dedicated apps for iOS and Android devices.
Blueskys federated model allows profile transfers between AT Protocol platforms, and lets users control content-serving algorithms for increased trust in online spaces. The broader AT Protocol may eventually fuel a network of decentralized platforms, although for now, Bluesky is just one small, relatively centralized pocket of it.
In contrast to Mastodon, which appeared to lose steam quickly amongst Twitter critics, Bluesky may be better poised to find widespread adoption due to its recognizable interface and user experience. And the decentralized protocol backing it is another selling point for Web3 enthusiasts, perhaps pulling in some early adopters as it starts to take shape.
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PM Modi boosts rural economy by integrating eGramSwaraj – GeM on National Panchayati Raj Day – The Economic Times
On the occasion of National Panchayati Raj Day, which is celebrated every year on 24th April, Prime Minister Narendra Modi inaugurated an integrated e-GramSwaraj and Government eMarketplace (GeM) portal for public procurement at the Panchayat level. This year's National Panchayati Raj Day is special as it marks 30 years of Panchayati Raj in India. It is a defining moment in the history of decentralization of power to the grassroots through the Constitution (73rd Amendment) Act, 1992.
The eGramSwarajGeM Integration is aimed at enabling Panchayats to procure their goods and services through GeM leveraging the eGramSwaraj platform. The integration will encourage Panchayats to adopt digital procurement and payment platforms, and will also benefit local sellers by opening new markets for them. This initiative will give a major boost to the rural economy and entrepreneurship, and will also strengthen the Digital India Program.
The integration of eGramSwaraj and GeM will take the benefits of online procurement through GeM to the lowest tier of governance and not just be restricted to central/state government ministries and departments.
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Recap: ‘Decentralizing the Future with Web3 Data’ Conference Successfully Co-Hosted by Oort and DefiLabs in Hong Kong – Yahoo Finance
Oortech and DefiLabs hosted a successful Web3 conference featuring diverse speakers discussing decentralization, transparency, and the potential of DeFi.
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The successful 'Decentralizing the Future with Web3 Data' conference was primarily hosted by Oortech, with co-hosting support from DefiLabs. The event featured an impressive lineup of speakers, including academics, scholars, politicians, artists, investors, and Web3 entrepreneurs, who shared their insights on the significance of Web3 to digital culture, its potential impact on the internet economy, the challenges facing its mass adoption, and the importance of decentralized data to the true Web3.
The organizers of the conference aimed to create a comprehensive and realistic understanding of the technology by bringing together individuals from all levels of the ecosystem. The conference welcomed participants building Web3 from theoretical and technical perspectives, working on the infrastructure level, implementing and practicing decentralized technology, and regulating it. This diverse range of perspectives facilitated an informed and balanced conversation about Web3 and its potential.
Dr. Max Li was one of the distinguished speakers at the recent Oortech event, where he shared his vision for a better future in the Web 3 world. Dr. Li is an expert in the field of blockchain and cryptocurrency, and he believes that these technologies have the potential to transform our society in a profound way. During his talk, Dr. Li emphasized the need for greater decentralization and transparency in the Web 3 world. He also highlighted the potential of decentralized finance (DeFi) to create a more equitable and accessible financial system for everyone.
The conference provided attendees with networking opportunities to connect with other individuals who share their passion for Web3 and decentralized networking. DefiLabs and Oortech are pleased with the turnout and engagement from attendees at the Web3 conference. They believe that events like this are crucial for driving innovation and progress in the Web3 industry and look forward to hosting more events in the future.
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Chainstack launches subgraph hosted service after The Graph moves towards decentralization – Forbes India
Image: Shutterstock
Blockchain infrastructure provider Chainstack has built a new hosted service titled Chainstack Subgraphs as a solution for collecting blockchain data fast through indexing. The groups of blockchain data, referred to as subgraphs, are open-source application programming interfaces (APIs) that sort data from blockchains. The latest launch by Chainstack interestingly comes months after The Graph decided to wrap up their hostel service to adopt decentralization.
Though developers increasingly adopted subgraphs through the Graph Network that supported subgraphs on the Ethereum mainnet and some chains, The Graph eventually decided to move on to a decentralized network. As a result, the hosted service was planned to be shut down, and the developers had to migrate with their subgraphs to the decentralized network.
This is where Chainstack Subgraphs would reportedly help the developers. It would allow any migration of hosted subgraphs and work as a solution for any blockchain query, eventually helping developers to build DApps seamlessly. Chainstacks infrastructure will be an added bonus for all indexing operations.
There would be no fixed price for the Chainstack Subgraphs, and it would charge $0.1 per hour for a subgraph or a monthly charge of $73. Extra requests can be claimed for $0.00025 per unit.
The Founder and CTO of Chainstack, Eugene Aseev, said, They say data is the oil of the digital economy and the same goes for Web3 as well. By offering better means to access blockchain data with Chainstack Subgraphs, we are paving the way for developers to leverage essential information that is vital for creating seamless DApp experiences for everyone.
Aseev further mentioned the three benefits of the hosted service over the decentralized network. The first would be its pricing model, where it would charge users with fiat money instead of the GRT token. Moreover, many blockchain networks will be integrated instead of a few ones. Finally, mid-tier and small-tier subgraphs will find it easier to get indexed and discovered.
He also put aside any question of competition with The Graph. He mentioned their support towards decentralization and their wish to become a part of The Graph Network once their customers were onboarded in the new service.
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The EUs "Kill Switch": What Does It Mean For The Future Of … – Blockchain Council
As the world continues to evolve, so do our technological advancements. One of the most recent developments in the European Union (EU) is the introduction of the smart contract kill switch. But what exactly is it, and how does it affect the world of decentralization?
The EU parliament recently passed a bill requiring smart contracts to include a kill switch. This means that in the event of a security breach or other emergency, the switch can be used to terminate the contract and prevent any further action from taking place. Some have expressed concern about the impact this could have on the autonomy of smart contracts, but others argue that it is a necessary precaution to prevent potential damage.
The EUs Smart Contact Kill Switch
On March 14, the European Parliament passed a bill designed to protect data privacy while promoting innovation, but a controversial clause known as the Data Act has raised alarm bells in the Blockchain ecosystem. Essentially, the new law requires all smart contracts to include a mechanism that can either destroy the contract or pause its operation in the event of a major bug or security breach.
This mechanism is commonly used by administrators to shut off a device or software in the event of a security threat. In a smart contract setting, the kill switch can either destroy the contract or deploy a halt, patch, and re-release of the contract in the case of a major bug or breach.
Article 30 of the Data Act requires smart contracts to have a clearly defined mechanism to terminate or interrupt their operation. The provision aims to ensure that a mechanism exists to terminate the continued execution of transactions and that the smart contract includes internal functions which can reset or instruct the contract to stop or interrupt the operation to avoid future accidental executions. The conditions under which a smart contract could be reset or instructed to stop or be interrupted should be clearly and transparently defined.
The other provisions in Article 30 are less controversial. Section B of the article requires smart contract providers to incorporate control mechanisms for terminating transaction execution, which offers an extra layer of security against exploits. However, this focus may offer some contradictions to what DeFi is supposed to be. Smart contracts are supposed to provide autonomy in transactions, thus eliminating third parties.
At first glance, this might seem like a sensible precaution. After all, were all concerned about cyber attacks and data breaches these days. But in the world of Blockchain and cryptocurrency, where autonomy and decentralization are key tenets, the idea of a kill switch has ignited a firestorm of controversy. Many in the crypto community worry that the kill switch could give regulators and government entities too much power over decentralized finance (DeFi) and other Blockchain-based systems.
Whats more, the language of the Data Act is currently vague, leaving room for interpretation and speculation. Is the kill switch really a self-destruct button? Or is it more like a pause function, which can freeze a smart contract until the situation is resolved? And what exactly are the conditions under which non-consensual termination or interruption of a smart contract would be permissible? These questions and more have been swirling around the Blockchain community since the passage of the Data Act.
Some argue that the kill switch is a necessary evil, a way to ensure that smart contracts can be terminated in the event of a major security breach or bug. Others worry that the kill switch is a slippery slope, a tool that could be abused by regulators or powerful entities to control and manipulate the Blockchain ecosystem. As with most things in life, the truth probably lies somewhere in between.
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Why did the EU introduce it?
The European Union introduced the smart contract kill switch as part of its Data Act to address data privacy without stifling innovation. The aim was to give people more control over their personal information. The kill switch was introduced to ensure that smart contracts are secure and to prevent unauthorized access or data breaches. However, the introduction of the kill switch has generated concerns in the Web3 community. Some fear that the kill switch mandate would curb the decentralization of smart contracts by giving one person or a group of people the power to shut down operations.
How the Kill Switch Affects Decentralization
So, how dangerous is the smart contract kill switch? It really depends on who you ask. Some argue that it is a necessary tool to prevent hacks and other security breaches from causing serious damage, while others worry that it could be used to manipulate contracts unfairly and stifle innovation. Ultimately, it will be up to individual companies and organizations to decide how they want to incorporate the kill switch into their smart contracts
Pros of the Kill Switch for Decentralization
Proponents of the smart contract kill switch argue that it provides a safety net for consumers and prevents incidents such as the DAO hack of 2016, which resulted in millions of dollars worth of cryptocurrency being stolen due to a flaw in a smart contract. On the other hand, critics suggest that the kill switch undermines the very purpose of smart contracts, which is to enable trustless, decentralized transactions without the need for intermediaries.
Despite this controversy, the European Union believes that the smart contract kill switch offers significant benefits, such as:
Compliance with GDPR
The General Data Protection Regulation (GDPR) requires companies to ensure the security and protection of personal data. If a smart contract processes personal data, a kill switch can provide a way to stop the processing if a breach or security issue is detected. This feature offers an added layer of security to ensure that personal data is not compromised and reinforces trust in the technology.
Consumer Protection
If a smart contract is used in a consumer-facing application, such as an e-commerce platform, a kill switch can protect consumers in case of a malfunction or vulnerability in the smart contract. This can help prevent financial losses and ensure consumers trust in the platform. With the integration of a smart contract kill switch, users can have peace of mind knowing that they are protected from potential losses due to technical issues.
Regulatory Compliance
In the EU, financial services are heavily regulated, and smart contracts used in financial applications need to comply with various regulations, such as the Markets in Financial Instruments Directive (MiFID II). A kill switch can provide a way to comply with these regulations by allowing the suspension or termination of a smart contract in case of a violation. This feature is particularly crucial in ensuring that financial transactions are conducted in a secure and compliant manner.
Risk Management
Smart contracts can be used in applications involving high risks, such as insurance or derivatives trading. A kill switch can help manage these risks by pausing or terminating the contract if certain conditions are met, such as a sudden market crash or a security breach. When compared with a classic kill switch mechanism, the pause functionality represents a better fail-safe. Not only does it protect the network if caught on time, but it also salvages the contract and its funds by enabling it to resume operations.
However, with the pause functionality comes the question of security. To pause the smart contract, code admins need to use the systems private key, which becomes vulnerable to cyber-attacks once used online. In theory, access to this private key could give hackers admin privileges to the entire contract and could compromise the immutability of smart contracts.
To address this concern, smart contract admins can deploy a pause functionality without endangering the security of the entire smart contract by using different keys. One key enables the pause functionality, while another enables the unpause functionality, with both keys stored in an offline manner for added security. Separating the pause and unpause keys and storing both in a truly offline manner strengthens the security of the smart contract and eliminates potential points of failure.
Also, read Top 5 Ways To Recover Funds From Crypto Currency Scam
Cons of the Kill Switch for Decentralization
There are also drawbacks to the smart contract kill switch that must be considered. For instance, on August 30, 2022, OptiFi, a decentralized exchange, accidentally triggered a kill switch to its mainnet. This kill switch led to a permanent shutdown and the loss of USDC stablecoin tokens worth $661,000. While this kill switch was not utilized in a smart contract setting, it highlighted the risks that a classic kill switch poses on crypto-related projects and businesses.
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The EUs "Kill Switch": What Does It Mean For The Future Of ... - Blockchain Council
A16zs hyped-up orange balls revealed to be an L2 rollup client – Cointelegraph
A series of cryptic tweets depicting orange balls were revealed to be building up hype for a new rollup client for Optimism (OP) called Magi from the crypto arm of venture capital firm Andreessen Horowitz (A16z).
An April 19 Tweet from a16z engineer Noah Citron explained Magi is written in the programming language Rust and will help improve the client diversity and resilience of the entire OP Stack ecosystem.
The OP Stack refers to the set of software that powers the Ethereum layer-2 solution Optimism. Among the other benefits it provides, it helps simplify the process of creating layer-2 blockchains.
Citron explained Magi takes the place of a consensus client (often called rollup client) in the OP Stack, and works alongside an execution client such as op-geth to sync, meaning that it allows the Ethereum chain to advance by feeding new blocks to the execution client.
The lead engineer for Coinbases layer-2 solution Base, Jesse Pollak, also chimed in on the announcement, tweeting that magi means more decentralization, security, and scale for the OP Stack.
In an April 19 blog post, Citron opined that decentralization increases network security, which is critically important for rollups just as it is for the base layer of Ethereum.
A16zs cryptic hype orange circle tweets echoed the way Coinbase hyped and introduced its own layering network called Base, which instead featured tweets of a blue circle.
Related: US share of global crypto developers fell 26% in 5 years a16z
Citron kicked off the hype train with a tweet of an orange circle on April 18 bearing the phrase coming soon.
Its similarity to the hype before the announcement of Base prompted the crypto community to theorize another Ethereum layer-2 solution was imminent before a16zs chief technology officer, Eddy Lazzarin, quashed the rumors.
Citron also noted that Magi is still currently in development, and while it can currently sync to the Optimism testnet it will be some months before it is production-ready.
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A16zs hyped-up orange balls revealed to be an L2 rollup client - Cointelegraph
Twitter Alternative Bluesky Comes to Android – Social Media Today
Could Jack Dorseys Bluesky be the Twitter replacement that we need?
As legacy checkmarks are removed on Twitter, leaving many high profile users more vulnerable to impersonation, Bluesky, the decentralized Twitter alternative, has been released on Android, which follows its initial launch on iOS back in February.
Though it currently remains invite-only, which will restrict take-up for now. But still,Bluesky is growing fast, and as you can see, its essentially a re-skinned version of the classic Twitter UI, and as more people go looking for a Twitter replacement, maybe now is the time for Bluesky to make a move, and expand access to more users.
Like Mastodon, Bluesky is built on a decentralized framework, which will put more control over each element of the experience into the hands of users.
As per the Bluesky website:
Were focusing on re-building the social web by connecting disconnected silos and returning control of the social experience to users. Our mission is to develop and drive the adoption of technologies for open and decentralized public conversation.
Decentralization is also a key focus of the cryptocurrency movement, which essentially aims to take the power away from the traditional powers that be, and put it back into the hands of the people, by providing each person with a means to manage their own data and process.
From a social media perspective, Bluesky is a means to re-distribute power back to users, and away from the few big tech players, in the form of more control over how algorithms and engagement systems are developed.
At the launch of the project, former Twitter CEO Jack Dorsey, the main driver of Bluesky, outlined three key focus areasfor the project:
Which no doubt sounds pretty appealing to many social media users, and as Elon and Co. continue to erode what Twitter itself once was, it could be that Bluesky shapes up as a better alternative to the other Twitter clones that are cropping up within smaller communities.
Indeed, according to The Verges Jay Peters, its currently the best Twitter alternative:
Right now, its a pretty small community of over 25,000 people, and it feels like everyone is really dedicated to maintaining a positive environment. Its also a nice break from Twitter, which continues to get worse every day
Given that various former tweeps are working on it, it makes sense that Bluesky feels very Twitter-esque - and again, with more people now seeking an alternative, it could be the right time for Bluesky to rise, and gather-up cast-offs from its former parent app.
Which would no doubt anger Elon, whos repeatedly sought to penalize and punish companies that he feels have wronged him.
As part of Elon Musks takeover at Twitter, Dorsey rolled over his shares of Twitter into Bluesky, which had been wholly funded by Twitter at that point. If Bluesky emerges as a competitor, you can bet that Elon will see this as a slight, which could have impacts for the new app, if Elon decides to come after it.
But it is, indeed, increasingly looking like it will be a viable Twitter alternative. Which is probably needed and with Elon continuing to attack news organizations, it would be little surprise to see more of them emerge on Bluesky instead, which may spark the beginning of a bigger shift.
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Twitter Alternative Bluesky Comes to Android - Social Media Today
Ninepoint Announces Unitholder Approval of Change to the Investment Objectives of Ninepoint Bitcoin ETF – Yahoo Finance
Ninepoint Partners LP
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TORONTO, April 20, 2023 (GLOBE NEWSWIRE) -- Ninepoint Partners LP, the manager (the Manager or Ninepoint) of Ninepoint Bitcoin ETF (Ninepoint Bitcoin ETF or the Fund) (TSX: BITC; BITC.U), is pleased to announce that the special meeting (the Special Meeting) of unitholders of the Fund (the Unitholders) was held today.
At the Special Meeting, the Unitholders approved the previously announced change to the investment objectives of Ninepoint Bitcoin ETF to be to seek to provide Unitholders with capital appreciation by investing in a diversified portfolio comprised primarily of equity and equity-related securities of companies that give investors exposure to emerging technologies such as Web3, the blockchain and digital asset-enabled internet.
Web3 is a new vision of the internet, incorporating concepts such as decentralization, digital assets and blockchain technologies. As with previous eras of the web, the companies that harness its potential could have an impact on every industry in the economy from finance to telecommunication, energy, media and beyond.
"As with past eras of the Internet, Web3 promises to transform business, culture and society in profound ways. There will be winners and losers as leaders of the old paradigm make way for the Web3 champions of tomorrow," said Alex Tapscott, Managing Director, Digital Asset Group at Ninepoint.
With the launch of the Ninepoint Web3 Innovators Fund, investors will have a way to participate directly in the potential of Web3 by investing in businesses harnessing this transformational technology commented John Wilson, Ninepoints Co-CEO and Managing Partner.
Subject to the fulfillment of Toronto Stock Exchange (the TSX) requirements and all other required regulatory approvals, the change to the Funds investment objectives will be implemented on or about May 31, 2023 (the Effective Date). On the Effective Date, the Fund will also change its investment strategies, its name to Ninepoint Web3 Innovators Fund, and its tickers to TSX: TKN; TKN.U to better reflect the Funds new investment objectives. The Fund will continue to trade on the TSX under its current ticker symbols until the Effective Date.
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About Ninepoint Partners LP
Based in Toronto, Ninepoint Partners LP is one of Canadas leading alternative investment management firms overseeing approximately $8 billion in assets under management and institutional contracts. Committed to helping investors explore innovative investment solutions that have the potential to enhance returns and manage portfolio risk, Ninepoint offers a diverse set of alternative strategies spanning Equities, Fixed Income, Alternative Income, Real Assets, F/X and Digital Assets. Ninepoint Digital Asset Group is a division of Ninepoint.
For more information on Ninepoint, please visit http://www.ninepoint.com or for inquiries regarding Ninepoint Bitcoin ETF, please contact us at (416) 362-7172 or 1 (888) 362-7172 or invest@ninepoint.com.
Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions expects, intends, anticipates, will and similar expressions to the extent that they relate to the Fund. The forward-looking statements are not historical facts but reflect Ninepoint's current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although Ninepoint believes the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. Neither the Fund nor Ninepoint undertake any obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.
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Web3 security: How to identify the risks and use protection tools? – Cointelegraph
The Web3 space has completely revolutionized online interactions, but it is still not completely risk-free. While underlying technologies such as blockchain bring more resilience, Web3 has inherited many security risks from Web2. Moreover, it also faces new forms of attack.
With Web3 progressing at a fast pace, it is imperative to identify the risks associated with this new iteration of the internet. Four main categories of risks emerge from the transition to Web3:
Data security. The broader network topology in Web3 introduces new data security risks. While blockchain transactions are encrypted, and data decentralization reduces single points of attack, it exposes data to various risks, including data authenticity and manipulation. Additionally, less centralized oversight raises concerns about endpoint attacks, traffic overloads and service availability exploits.
Social engineering. Despite the adoption of blockchain-based infrastructures, Web3 is still plagued with social engineering threats. These risks include smart contract logic hacks, flash loan attacks, cryptojacking, rug pulls and ice phishing, among others. Traditional social engineering threats such as phishing attacks still pose risks, and the complexity of Web3 interfaces makes matters worse.
Identity. Web3 offers users more control over their data thanks to features like user-controlled wallets, ID portability and data minimization. However, self-sovereign identity, pseudonymity and anonymity also bring downsides. Transparent public blockchains come with security and privacy tradeoffs. User experience, privacy, compliance and anonymity concerns arise due to the decentralized nature of Web3.
Market manipulation. Web3 relies on decentralized networks that require secure channels to communicate with the real world. Oracles are the most common solution, but they still cannot guarantee the fairness of market prices or that the markets are not manipulated. In 2022, a rogue crypto trader used millions of USDC tokens to manipulate the price of Mangos MNGO token on its decentralized exchange to drain more than $100 million in liquidity from the exchange.
Many people are exploring the features of Web3, but few of them pay close attention to potential risks, especially because of the misunderstanding that Web3 is automatically way more secure than Web2. Thankfully, there are specialized tools that ensure safer navigation of the Web3 space, and one of them is Web3 Antivirus.
The tool can be easily set up as a browser extension, and it can verify all parties and assets that users interact with on Web3 to notify them before taking potentially dangerous actions. Web3 Antivirus audits the smart contracts behind all transactions in real time to identify dangerous logic, vulnerabilities and compromising permissions to access user funds. It also verifies tokens and simulates transactions before execution to ensure a secure outcome.
To date, the tool has already blacklisted over one million websites and identified tens of thousands of dangerous smart contracts.
Web3 Antivirus is improving its capabilities thanks to regular upgrades. The team developing the extension launched its 0.6 version earlier in April, adding several new features, including:
Thanks to ongoing improvements and a user-friendly approach, Web3 Antivirus helps users explore the Web3 space securely while reducing potential risks in real time.
Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you with all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor can this article be considered as investment advice.
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Web3 security: How to identify the risks and use protection tools? - Cointelegraph
The power of AI in memecoins: A new revolution in the crypto space – Cointelegraph
At launch, Dogecoin (DOGE) creators Billy Markus and Jackson Palmer were likely unaware that their joke would lead to one of the largest cryptocurrencies by market cap. Moreover, no one could have expected that their brainchild would trigger an entire sector of memecoins cryptocurrencies inspired by internet memes and jokes.
While most memecoins dont have specific use cases or underlying utility, crypto enthusiasts still appreciate them for the fun aspect and their ability to show a lower correlation to the rest of the crypto market. The high volatility of memecoins can be considered a good opportunity to speculate on their price, especially as Bitcoin (BTC) and the crypto sector can move within sideways channels for weeks in an attempt to reach stability.
Pseudonymous crypto expert Altcoin Sherpa tweeted: Memecoins are mostly rugs, do nothing productive, take 0 effort to make, and are mostly here for the biggest gamblers, degenerates, and plebs in the crypto space... and yet they can do something that no normal coin/BTC can do: they can go 500x+ in the matter of a few days.
Adding a bit of functionality or vision may help the potential of a memecoin. For example, SnailBrook is not a simple memecoin it aims to deliver equal opportunity to all crypto enthusiasts and become a global force for change and collaboration. Moreover, unlike most memecoins, whose underlying infrastructure is basic, SnailBrook is in the process of integrating AI technology.
SnailBrook is a community-owned, community-driven and community-oriented cryptocurrency. It aims to unite all memecoins into a single ecosystem that revolves around equal opportunities and social justice. Users can join this emerging ecosystem by holding their memecoins, such as SHIB, BONE, DOGECHAIN, QOM, CAW and others to claim free SNAIL tokens during the launch event. This fair launch approach highlights its collaborative effort.
Memecoin ecosystem visualization | Source: SnailBrook
SnailBrooks ultimate goal is to become the meme of all memes, and build a utopia for memecoin fans and investors.
The memecoin was founded by Finn, an entrepreneur who envisions it as a symbol of hope, egalitarianism and boundless potential. He stated:
We have launched as a meme because we remain set on the fact that memes are a microcosm and symbol of crypto at this point as well as the spear to retail. Memes originated as a symbol of inclusivity, happiness and hope. It has quickly turned into a cesspool of scams, pump and dumps, and malicious intent to ruin each others hard work. We are here to change the tide.
For him, crypto is broken, as the industry has been bombarded with over-centralized actors that manipulate data in their favor to gain the lions share of profits. SnailBrook encourages true decentralization and aims to create opportunities for everyone.
SnailBrook is launching at a time when AI is catching everyones attention. The memecoin integrates AI technology to increase efficiency. The move enables SnailBrook to tap into the fast-growing AI market and harness its transformative power to create a future-proof memecoin ecosystem. By merging the unlimited capabilities of AI with the decentralization of blockchain, the memecoin highlights its commitment to pushing the boundaries of whats possible in the crypto industry.
Memecoins that have actual functionality and integrate innovative technologies like AI have the chance to be part of the next altcoin season. While most of them are built around a simple idea and use cartoon images or memes as their symbol, memecoins still leverage the unique features of blockchain, including decentralization, security and transparency. Adding AI results in a powerful mix that can drive innovation.
Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you with all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor can this article be considered as investment advice.
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The power of AI in memecoins: A new revolution in the crypto space - Cointelegraph