Blockchain Era - Metaverse

Artificial Intelligence’s Effects on Humanity-2022

Post author By widgetitis
Post date November 9, 2022
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The industrial revolution (IR) 4.0, sometimes referred to as artificial intelligence (AI), will alter not just how we carry out our daily activities and interact with others, but also how we perceive ourselves. This article will first define AI and then explain how it will affect changes in the industrial, social, and economic landscape for humanity in the twenty-first century. The IR1.0, or the IR of the 18th century, significantly altered society without directly affecting interpersonal interactions. However, contemporary AI has a significant impact on our daily activities as well as how we interact with one another. To meet this problem, new AI bioethics principles must be taken into account and developed in order to provide guidelines for the AI technology to follow and ensure that the development of this new intelligence benefits the entire world.

WHAT IS ARTIFICIAL INTELLIGENCE ?

There are many various ways to define artificial intelligence (AI); for some, it is the technology that was developed to enable computers and other devices to work intelligently. Some believe it to be a machine that takes the place of workers to provide a faster and more efficient outcome for men. Others view it as “a system” capable of accurately interpreting external data, learning from such data, and using those learnings to accomplish particular objectives and tasks through adaptable change .

Despite the diversity of definitions, it is generally accepted that artificial intelligence (AI) is a technology used by machines and computers to support humankind’s problem-solving and operational needs. In a nutshell, it is artificial intelligence that has been created by humans and shown by machines.These features of human-made tools that mimic the “cognitive” skills of the inborn intelligence of human minds are referred to as “artificial intelligence” (AI).

AI has almost completely permeated every aspect of our lives as a result of the rapid advancement of cybernetic technology in recent years. Some of this AI may no longer be considered AI because it has become so ingrained in our daily lives and we are accustomed to it, like optical character recognition or the Siri (speech interpretation and recognition interface) information-searching tool on computers.

Various forms of Artificial Intelligence

We can differentiate between two sorts of AI based on the capabilities and features it offers. First up is weak AI, sometimes referred to as narrow AI, which is created to do out certain tasks like self-driving cars, facial recognition, or Internet Siri searches. Numerous systems currently in use that advertise that they use “AI” are probably only weak AIs focused on a single, well-defined task. Even while weak AI appears to benefit human life, other people believe it could be dangerous since it could interfere with the electric grid or harm nuclear power plants if it malfunctions.

The long-term objective of many researchers is to develop strong artificial intelligence (AI), also known as artificial general intelligence (AGI), which is the speculative intelligence of a machine with the capacity to understand or learn any intelligent task that a human being can, thereby assisting human beings to solve the problem at hand. Even if humans may still outperform narrow AI in tasks like playing chess or solving equations, the impact is currently minimal. However, AGI could perform practically every cognitive task better than humans.

Strong AI is an alternative interpretation of AI that may be taught to mimic human intelligence, to be intelligent in whatever task is given to it, and to even possess perception, beliefs, and other cognitive abilities that are typically solely attributed to humans.

Distinct AI functions

1. Automation

2. MACHINE LEARNING AND VISION

3. NATURAL LANGUAGE PROCESSING

4. ROBOTICS

5. SELF-DRIVING CARS

Do people actually require Artificial Intelligence ?

Is the human society really in need of AI ? It varies. Yes, it is if someone picks a quicker and more effective way to do their work and works continuously without taking a break. However, it is not if humanity is content to live a natural lifestyle without having overbearing ambitions to subvert the natural order. According to history, people are constantly seeking methods that are quicker, simpler, more efficient, and convenient to complete the tasks they are working on. As a result, the need for continued progress drives people to seek out new and improved methods of accomplishing things.As homo-sapiens, humanity learned that using tools could ease many difficulties associated with daily life and that with the tools they created, humans could execute tasks more efficiently. The catalyst for human progress is inventiveness, the making of new things. Today’s easier and more relaxed way of life is entirely due to the contribution of technology. Since the dawn of civilization, the tools have been a part of human culture, and they are essential to advancement.

Above all, we observe the high-profile applications of AI, such as self-driving cars and drones, medical diagnosis, art creation, game playing (such as Go or Chess), search engines (such as Google search), online assistants (such as Siri), image recognition in photos, spam filtering, forecasting flight delays, etc. All of them have made life so much more simple and easy for people that we have grown accustomed to them and take them for granted. Even if it is not strictly necessary, AI has become indispensable because without it, our world would be in disarray in many ways.

Artificial intelligence’s effects on Human Society

Negative results

There will be a significant societal shift that will drastically alter how we live in the human community. Humanity must work hard to survive, but thanks to artificial intelligence, we can simply teach a computer to perform a task for us without even picking up a tool. The necessity for face-to-face interaction for the exchange of ideas will be replaced by AI, which will gradually reduce the closeness of human relationships. AI will act as a barrier between individuals as personal interactions will become unnecessary for communication.
The next is unemployment because a lot of jobs will be automated. The use of machines and robots on many modern auto assembly lines has resulted in the displacement of many conventional workers. Even at grocery stores, store employees will no longer be required since digital devices may replace human work.
As AI investors will receive the lion’s share of profits, wealth disparity will be generated. The wealth disparity between the rich and the poor will increase. It will be easier to see the alleged “M” shape of wealth distribution.
AI may be developed by human creators with racial biases or selfish goals in mind, harming particular individuals or objects. For instance, the United Nations has decided to restrict the development of nuclear power out of concern that it could be used indiscriminately to eliminate humanity or to target particular races or regions in order to establish dominance. It is theoretically feasible for AI to target a certain race or some programmed objects in order to carry out the programmers’ instructions to destroy them, resulting in global catastrophe.

Positive impact

The diagnosis produced by IBM’s Watson machine is remarkable. The computer’s diagnosis will be made promptly after the data has been loaded. AI can offer doctors a variety of therapeutic options to take into account. To feed the digital findings of the physical examination into the computer, which will take into account all scenarios, automatically determine whether the patient has any inadequacies or illnesses, and even recommend various forms of treatment options.
Seniors are advised to get pets to relieve stress, lower blood pressure, deal with loneliness, and boost social engagement. Now, cyborgs have been proposed as companions for those elderly people who are alone, even as helpers for some household duties. Seniors and physically disabled people’s quality of life is improved by therapeutic robots and socially helpful robot technologies.
Human error in the workplace is unavoidable and frequently expensive; the more fatigued workers are, the higher their chance of making mistakes is. But there is no tiredness or emotional diversion with all technologies. Errors are avoided, and the task can be completed more quickly and precisely.
Surgical techniques powered by AI are now available for consumers to select. Even though this AI still need medical personnel to run it, it can finish the job with minimal harm to the body. Most hospitals now have access to the da Vinci surgical system, a robotic device that enables surgeons to undertake minimally invasive surgeries. When compared to manual processes, these systems are much more precise and accurate. The less intrusive the procedure, the less trauma, blood loss, and worry the patients will experience.
In 1971, the first computed tomography scanners were released. In 1977, a magnetic resonance imaging (MRI) scan of the human body was performed for the first time. Heart MRI, body MRI, and prenatal imaging had all become commonplace by the early 2000s. New algorithms are still being sought for to assess scan results and detect particular disorders [9]. All of those are contributions made by AI technology.

Some cautions to be Reminded

Human expertise are still required to develop, implement, and operate the AI in order to prevent any unanticipated errors from arising, despite all the great potential that it holds. In a free newsletter she published, San Francisco-based technology analyst Beth Kindig noted that while AI holds out the possibility of improving medical diagnosis, human experts are still required to prevent the misclassification of unidentified diseases because AI is not omnipotent and cannot solve all of humanity’s problems. When AI encounters a dead end, it may simply move forward indiscriminately to complete its task, which will only lead to further issues. Thus, it is imperative to keep a close eye on how AI works.Physician-in-the-loop is the term for this reminder .

In order to warn against bias and potential societal harm, Elizabeth Gibney raised the issue of an ethical AI in her essay that was published in Nature [14]. The 2020 Neural Information Processing Systems (NeurIPS) conference in Vancouver, Canada, raised ethical questions about the use of AI technology in areas like facial recognition and predictive policing, which can harm vulnerable populations owing to biassed algorithms [14]. For instance, the NeurIPS can be designed to identify members of a particular race as likely criminal suspects or troublemakers.

Artificial Intelligence’s threat to Bioethics

The interaction between living things is the main topic of the subject of bioethics. Bioethics emphasises right and wrong in biospheres and can be divided into at least three categories: bioethics in social settings, which is the relationship between people, and bioethics in environmental settings, which is the relationship between people and nature, including animal ethics, land ethics, ecological ethics, etc. All of these are interested in the connections between and within natural existences.

Humans are faced with a new dilemma as AI develops: how to relate to something that is not inherently natural. Bioethics often explores the interaction between human beings and their environment, both of which are natural occurrences. However, men now have to contend with AI, a human-made, artificial, and unnatural object. Humans have made a lot of things, but they have never had to consider how to relate to their own creations ethically. AI doesn’t have any emotions or personality on its own. AI engineers now understand how critical it is to provide AI the capacity for discrimination so that it can avoid engaging in behaviours that could damage humans unintentionally. From this vantage point, we recognise that AI has the potential to negatively affect people and society. As a result, bioethics of AI becomes crucial to ensure that AI does not develop on its own by diverging from its intended use.

Early in 2014, Stephen Hawking issued a dire warning that the emergence of fully conscious AI might mean the extinction of humanity. He claimed that after humans perfect AI, it might go out on its own and constantly reinvent itself . Since biological evolution is sluggish, humans would not be able to compete and would be surpassed. Nick Bostrom makes the case that AI will endanger humanity in his book Superintelligence. He contends that if AI becomes sufficiently sophisticated, it may engage in convergent behaviour such as resource acquisition or self-preservation, which could be harmful to humanity.

CONCLUSION

Because AI is a constant in our environment, we must fight to uphold the AI bioethics of beneficence, maintaining values, clarity, and responsibility.Since AI already lacks a soul, its bioethics must be transcendental to make up for this deficiency and overcome its lack of empathy. AI exists in the world now. We should remember what AI pioneer Joseph Weizenbaum said, that we shouldn’t allow computers make key decisions for people because AI as a machine will never have compassion or the ability to assess or understand morality . Bioethics is a process of conscientization rather than a matter of calculation.AI is still a computer and a tool, despite the fact that its creators can upload all the information, data, and programming necessary for it to behave like a human being. Without genuine human emotions and the ability to empathise, AI will always stay AI. AI technology must therefore be developed with great prudence. In his White Paper on AI: A European Approach to Excellence and Trust, Von der Leyen stated that because AI must serve people, it must always uphold their rights. AI at high risk. Before it enters our single market, anything that might infringe on people’s rights must be examined and approved.

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Tags Artificial Intelligence, bioethics, humanity, IR1.0, machine, MRI, techniques

Uncategorized

DeFi – Introduction , Advantages and Risks-2022

Post author By widgetitis
Post date November 3, 2022
No Comments on DeFi – Introduction , Advantages and Risks-2022

With a focus on its features and subsets, this article will analyse a number of studies and researches on decentralised finance with the goal of providing a summary of how the ecosystem is changing and how it might alter the structure of contemporary finance by fostering new opportunities for innovation.

INTRODUCTION

Decentralized financial innovation, or DeFi, is the shift in the economic paradigm made possible by decentralised technology, primarily blockchain networks, which gave rise to a whole movement with the invention of bitcoin (S.Nakamoto, 2008). Blockchain and Distributed Ledger Technologies (DLT) serve as the foundation for technology that is transparent, immutable, and without boundaries. Launched in 2015, Ethereum is the first programmable blockchain in existence. The idea behind the Ethereum Virtual Machine is that it can run more complex applications, allowing for the direct control of digital assets by a piece of code, the implementation of methodical rules, or even the creation of decentralised autonomous organisations using blockchain technology (DAOs).

Because Ethereum is programmable, programmers can use it to create new sorts of apps (G. Wood, 2014). It is feasible to execute programme logic decentralizedly using smart contracts as the foundation for Decentralized Applications (dApps), as all peers in the blockchain network validate transactions to maintain the accuracy of the ledger. The programme logic is executed as a result of these transactions, which causes modifications to the state of globally shared objects.

The concept is to build and run financial decentralised applications (dApps) on top of transparent and unreliable infrastructure, such permissionless peer-to-peer (P2P) protocols. This emerging idea of “Open Finance” mainly refers to digital assets, financial smart contracts, protocols, and decentralised applications created using distributed ledger technology or open blockchains. There were 214 DeFi projects mentioned as of June 2020, 199 of which utilised the Ethereum Blockchain architecture (DeFiPrime, 2020). In conclusion, the DeFi movement is moving traditional financial goods to the open source and decentralised world, eliminating the need for intermediaries, cutting costs generally, and significantly increasing transparency.

What is DeFi, and why is it so popular right now ?

DeFi, also known as “Open Finance,” is a collection of Blockchain/DLT-based financial services and applications that aim to supplement or replace the current financial system, also known as “Centralized Finance.” Decentralized Finance offers many advantages over conventional financial services thanks to the usage of distributed platforms and smart contracts. Deploying a financial application or product becomes far less difficult and demanding as ecosystems develop. For instance, a lot of decentralised applications (dApps) are being created on top of the Ethereum blockchain, which offers cheaper entry costs and operations costs (Binance Academy, 2020).

Numerous efforts are already making progress in the various sub-sectors that make up the larger DeFi landscape. These specific projects were formed on the Ethereum network, although others have been 317 developed or already exist on other permissionless blockchains like Bitcoin. The developers of DeFi are able to make their services available to everyone with a device and an internet connection by employing permissionless networks.

Currently, DeFi’s three main purposes are :

1.interpreting financial banking services (e.g., Issuance of stablecoins)

2.offering platforms for peer-to-peer (or pooled) lending and borrowing

3.enabling cutting-edge financial tools including Decentralized Exchanges (DEX), Platforms for Tokenization, Derivatives, and Predictions Markets

Some of the most common use cases

Stablecoin

A cryptocurrency that aims to keep its market price steady is known as a stablecoin. Since these digital currencies have become more widely used, many stablecoin projects have emerged. Stablecoins are designed to offer some of the benefits of both the fiat currency and cryptocurrency worlds. Stablecoins can be used as a stable currency that offers improved transparency and decentralisation, although they are currently largely employed as a hedge against the extreme volatility of cryptocurrency markets. Additionally, compared to conventional fiat currencies, they offer quicker transactions and reduced fees, with an average of $0.2 per transaction (Ethgasstation, 2020), which makes them a great alternative for international transfers and regular payments.

Stablecoins are designed to be fairly immune to market volatility, thus they shouldn’t undergo big price movements, though the specific processes vary from currency to coin.

320 The value of many stablecoins is fixed by tying them to the value of another asset. Although the majority of them are tied to the US dollar, stablecoins can also be linked to the value of other cryptocurrencies or even physical commodities like silver or gold. These currencies avoid the dramatic price swings produced by the high levels of volatility, which are quite typical in cryptocurrency markets, by being tied to real-world assets (Binance Academy, 2020).

Borrowing and Lending

One of the most popular subcategories of open finance, lending and borrowing dApps, are supported by the Blockchain in large numbers. Users can use their cryptocurrency as collateral in smart contracts and borrow money against it. Following that, it automatically paired lenders and borrowers and dynamically adjusted the interest rate based on supply and demand as well as open lending rules (C.Bhardwaj, 2020).

Decentralized Exchanges

2020 is already looking like the year that decentralised exchanges take centre stage. The DEX ecosystem is growing stronger every day thanks to improved usability, greater liquidity, and rising composability. Due of their fiat onboarding and convenience of use, centralised players have long attracted the attention of many when it comes to cryptocurrency exchange. Contrary to popular belief, many have been quick to point out that centralised exchanges have their own unique hazards, particularly those related to custody. Many traders have learned to respect the non-custodial options provided by decentralised exchanges, which were famously highlighted by hacks on formerly well-known exchanges like Mt. Gox in 2014.

Funding protocols, software development tools, index creation, subscription payment methods, and data analysis software are a few further examples of products and use cases.

The Advantages of DeFi

Wider global access to financial services

According to the World Bank Group’s 2017 report, 1.7 billion adults globally do not have access to any financial institutions. Decentralized Finance aims to provide basic financial services for all of its users using a smartphone and an internet connection, breaking down the status, wealth, and geography barriers that limit global access to the financial world most industrialised nations take for granted.

Affordable Cross Border Payment

DeFi services are anticipated to reduce the average global remittance charge from its present, frequently outrageously expensive 7% to a much lower 3% average by doing away with the need for some intermediaries (C. Hoffman, 2020).

Improved Privacy and Security

Data breaches in centralised organisations, such as the First American Financial breach in May 2019, exposed almost 885 million personal and financial details (Krebson Security, 2019). A decentralised system, by definition, lacks a centralised single point of failure that may enable this kind of breach.

Censorship resistant transactions

Governments or big businesses cannot filter or turn off a full DeFi system. In countries where the current governments and financial institutions may be dishonest or unreliable, a system like this can deliver stability and an alternate option. Developers of these new DeFi applications will concentrate on making a simple and straightforward user experience so that any user may fully benefit from the new system that is being implemented in an effort to popularise their services. While each of these advantages is strong on its own, together they have the potential to have a significant impact.

Risks

Due to a number of difficulties relating to fraud, volatility, usability, and regulatory ambiguity, DeFi has not yet realised its full potential. Decentralized finance can be susceptible to fraud and the spread of unproven financial ideas, to start.

By offering collateral that can be utilised to collateralize other actions taking place in the DeFi ecosystem, a DeFi savings account enables you to lend to others in an efficient manner. Your savings are used to finance other people’s purchases, just like in a traditional bank. The difference is that in traditional finance, your savings are multiplied through fractional reserve banking to extend many times more than the actual amount of savings, whereas in DeFi it’s the opposite because DeFi requires over 330 collateralization. Given that you can only lend an amount that is less than what you have in savings, it is more like a negative fractional reserve rate.

There is a new class of risks, though, when you place your savings in an account that is a component of a smart contract in a DeFi system. The risk is not that your bank will fail and the deposit insurance won’t be able to cover all the covers, which is a counterparty risk; rather, the risk is that the smart contract itself will have a coding security flaw. A defect in the smart contract could cause your savings account to be emptied or allow for theft by a third party. At this point, this can be applied to all DeFi applications. There are bugs, but the questions are “how serious they are” and “how easy it is to exploit these vulnerabilities,” not “whether there are bugs.”

Due to the environment’s complexity, the risk has moved from counterparty institutions and third-party custodians to software coding risk, when one or more errors were committed by the smart contract’s creators.

Conclusion

The next significant change to the financial system may be decentralised finance. This new wave of applications and services, powered by blockchain technology, will give the unbanked access to financial services, lower transaction costs, increase security, and give users a seamless experience from anywhere in the world. As with any new technology, it’s vital to step back from the marketing hoopla and consider the obstacles in the way of widespread adoption. For DeFi, they include difficulties that touch on interoperability and transaction speeds as well as legal issues. DeFi won’t be able to realise its full potential until these difficulties are dealt with and overcome.

DeFi now takes a great deal of information because the technology is still in its infancy and prone to issues, hazards, and security flaws.

Also Read ,

1.A-Z Guide of Blockchain Gaming-2022

2.Crypto Lending – An Easy Source Of Passive Income-2022

3.Role of Blockchain in Global Healthcare System-2022

4.Blockchain-Based Voting System : 2022

5.How To Become Blockchain Developer ?-2022

Blockchain Technology

A-Z Guide of Blockchain Gaming-2022

Post author By widgetitis
Post date November 1, 2022
1 Comment on A-Z Guide of Blockchain Gaming-2022

As blockchain-based gaming have gained popularity, the gaming industry has been turned on its head by turning users become the primary financial decision-makers rather than developers.

The trend of play-to-earn (P2E) cryptocurrency gaming shouldn’t be ignored. But it’s important to grasp how everything functions before we go into the specifics.

More people are playing games than ever before. Currently valued at $173 billion, the gaming sector is expected to cross the $300 billion milestone in the following five years, according to extremely promising statistics. This boom is the result of a recent spike of new players, particularly on mobile platforms, which has improved the accessibility and usability of gaming for the estimated 2.6 billion gamers globally.

However, for many people, having fun online is no longer their main motivation. Time is money, as the adage goes, and players have no doubt noticed that they are investing a lot of time in virtual experiences with little reward. They have therefore begun to explore for ways to make money from their passion. Up until recently, there haven’t even been many options for casual players to profit from their gaming efforts outside of the arena of eSports.

What is Blockchain Gaming ?

Blockchain is a type of ledger technology that acts as a method for recording and storing information and cannot be compromised, tampered with, or changed in any other way. In theory, anyone can view a network’s transaction history. A world of possibilities spanning virtual economies are made possible by the blockchain, which drives cryptocurrencies like Bitcoin and Ethereum. Game makers have undoubtedly recognised this potential.

Marketplaces are typically present in most games, allowing players to buy and sell commodities like avatars, loot boxes, and weapons. However, even if they pay real money for it, they might not actually own any of it. This is due to the fact that game producers have had complete control over game dynamics, from the plot to the game assets amassed by players, for the majority of the history of video games. Players don’t actually own their accounts or the things in them because everything is owned by one company. Other drawbacks of this model include its lack of transparency and vulnerability to manipulation of game mechanisms.

Using blockchain, gaming firms no longer have complete control over the entire gaming experience, introducing for the first time decentralised and fair virtual markets where players have a meaningful say.Blockchain technology offers uses in the gaming sector that go beyond supporting virtual economies.

Key Features of Blockchain-Based Gaming

1.Blockchain-based games provide users full control and genuine ownership over their virtual possessions. Assets are typically represented by recognisable non-fungible tokens (NFTs).

2.Players can trade in-game items across several game markets that are housed on the blockchain by connecting in-game assets to blockchain tokens.

3.Building open, distributed, and transparent ecosystems is made possible by blockchain technology. Players, not gaming companies, determine the game’s dynamics, and they have the option to accept or reject changes. Additionally, this prevents experience-ruining cheats.

4.The decision to end a game is entirely up to its authors, regardless of whether it is housed on a single server. With blockchain, players can continue playing a game even if the developers are no longer working on it, and games can generate new plots and assets on their own.

By enabling users to buy, sell, and manufacture various virtual kittens in the form of NFTs, or non-fungible tokens, which transform each virtual kitten into a distinct, valuable digital asset, the game CryptoKitties became the primary force behind this revolution in 2017. The value of a kitten increases with rarity; the most expensive Cryptokitten sold for $172,000, for example.

Can you make money playing games on the blockchain ?

As previously indicated, blockchain games are distinct due to two features: the incorporation of cryptocurrencies, which are utilised for in-platform payments, and the use of NFTs. NFTs are a significant improvement since they allow users to own unique assets that may be traded with other players inside the same game or moved between platforms. As in real-world economies, blockchain games also feature marketplaces where you may make money.

Only the most devoted gamers can get tangible rewards for their work; while those with artistic tendencies can make and sell collectible items. The possibilities are endless, and game designers are just getting started.

In addition, some people have only invested in the gaming sector, while others have made it their full-time profession.

How do I begin playing Blockchain Games?

So, if you’re persuaded after reading this far, be ready to roll up your sleeves and start this. In order to get started, you will need a computer or mobile device. Simple enough, yes? The next step is to choose a site for cryptocurrency exchange so that you may turn your cash into, well, cryptocurrency. There are several exchanges available, but it’s crucial to pick the one that best suits your requirements. Additionally, as the Ethereum blockchain is the foundation for most cryptocurrency gaming, you might want to think about buying Ether. Now that you have some ether, what are you going to do with it? The same as what you would do with actual money: locate a secure location to keep it.You’ll need to open a digital wallet at this point, and there are many solutions available. The only thing left to do now is choose a game to play. You’re now ready to go.

2022’s Best Blockchain Games

Blockchain gaming is still very much a niche market when compared to the conventional gaming sector. But that doesn’t mean that it should be laughed aside. There are currently hundreds of crypto games, which although still a small portion of the overall market, are slowly gaining millions of players (and a whole lot of money).

So let’s take a short look at the key figures in the cryptocurrency gaming industry:

Axie Infinity

NFTs have risen to amazing heights thanks to Axie Infinity, the undisputed monarch of all crypto games. There are Axies (or digital creatures) in this game, which some people have equated to a Pokemon experience. Each Axie is an NFT. There are axes for sale, trading, and breeding. They can also be used by players to compete against other players or teams in seasonal competitions. Rare Axies can be pricey; one recent sale of virtual real estate brought around $1.5 million. What sets Axie Infinity apart from other gaming platforms is the robust virtual economy that Smooth Love Potion (SLP) and Axie Infinity Shard (AXS) can boast, which recently saw increases of up to 5,700%.Additionally, in contrast to other well-known players, Axie encourages players to cash out.

AXS can be traded for money or ether. In many countries, including the Philippines, where players have converted the game into a full-time career from just a side gig, it has become incredibly popular.

Blankos Block Party

Of course, Mythical Games was well-known before launching Blankos in the cryptocurrency game industry. With a focus on unique designs, this game lets you make your own vibrant figures in the form of digital vinyl toys. Additionally, it enables users to create and explore virtual worlds where they can participate in quests, create their own “Blankos,” and play cooperative games (“Block Parties”). Investors have been particularly interested in limited edition Blankos due to the popularity of collaborations with artists like Deadmau5 and Burberry.

Upland

Users can purchase, sell, and trade virtual land that is mapped to the real world in this blockchain-based game. Real estate developers can create homes and make UPX currencies. San Francisco and New York have been mapped as part of the initiative, and you may purchase virtual houses for sale that are connected to actual addresses in these cities. A more recent addition to the game is the Property-to-USD pilot programme, which enables players to sell real estate for cash.

Mobox

This free-to-play option utilises the Binance Smart Chain and mixes gaming and decentralised finance (DeFi). According to the Mobox developers, this strategy will enable players and investors to access games from several blockchains on a single platform, bringing gaming and GameFi closer together. The primary objective of the game is to give users the freedom to take part in NFT games while earning money while doing so. To control the growth and distribution of resources within the MOBOX ecosystem, MBOX tokens are utilised for transaction processing, staking, and governance. Three games are now playable on the platform, and two more are anticipated to be released soon.

Lightnite

Lightnite has been described as a Fortnite-style battle royale game and was created by the same team behind the Bitcoin arcade game portal Satoshi’s Games. The microtransactions in this multiplayer online game are totally powered by the Lightning Network, and players are rewarded with Bitcoin for shooting other players. The likelihood of winning more Bitcoin increases for players who are skilled at the game and kill more opponents. Players who get shot, on the other hand, are punished and forfeit Bitcoins. Lightnite’s. Through the Elixir Marketplace platform, an NFT marketplace, all in-game assets may be tokenized and traded.

CryptoKitties

CryptoKitties may have been one of the first games to highlight the possibilities of blockchain gaming and the one that created the crypto-collectibles sector, but it is still incredibly well-liked today. Users can purchase, breed, and exchange beautiful, cartoon-like cats of varied rarities. You own the cats and have full reign to sell them, just like in other blockchain games. CryptoKitties is a really straightforward but compelling game. However, purchasing and breeding new kittens comes at a relatively hefty cost in ether, which may be very taxing on your finances.

Sandbox

Players can own land, create, play, and take part in virtual experiences in this virtual environment, or metaverse. For artists or tiny developers who are uncomfortable using other gaming engines, having a sandbox plot of virtual land allows you to earn money from the experiences you create within the metaverse. The SAND token can be used to buy and sell any Sandbox feature, and as a result, users help to constantly extend this metaverse. Players have more options than just exchanging virtual real estate; they may also exchange NFTs, which can be used to alter the appearance of their avatars.

Why You Should play crypto games?

Players’ desire to profit from their skills in gaming and the time they spend in front of screens is nothing new. The doors are wide open for blockchain gaming. You can not only profit from transparent and equitable virtual economy, but you can also claim actual ownership of game assets, participate in a community-driven ecosystem (DAO), and have your say on choices affecting the game. None of this was feasible in the centralised, traditional gaming industry, and as more crypto games appear, the incentive for users to participate in more transparent and equitable virtual experiences increases.

Also Read,

Artificial Intelligence

Artificial Intelligence : A Detailed Study-2022

Post author By widgetitis
Post date October 31, 2022
No Comments on Artificial Intelligence : A Detailed Study-2022

Mathematician Alan Turing changed history once more with a straightforward query: “Can machines think ?” Less than ten years after assisting the Allies in winning World War II by cracking the Nazi encryption device Enigma.

Turing’s 1950 article “Computing Machinery and Intelligence” and the accompanying Turing Test established the fundamental goal and vision of AI.

Fundamentally, the field of computer science known as artificial intelligence (AI) aims to successfully address Turing’s challenge. This endeavour aims to mimic or duplicate human intelligence in machines. The broad goal of AI has generated a lot of debate and interest. In reality, there is no universally accepted definition of the field.

Defining AI

The biggest problem with merely “developing intelligent machines” as an AI goal is that it doesn’t define AI or describe what an intelligent machine is. The interdisciplinary science of artificial intelligence (AI) is approached from many different angles, but developments in machine learning and deep learning are driving a paradigm shift in practically every sector of the computer industry.

A 2019 research study titled “On the Measure of Intelligence” is one example of a new test that has been suggested recently and has received generally positive reviews. In the article, François Chollet, a seasoned expert in deep learning and a Google employee, makes the claim that intelligence is defined as the “pace at which a learner transforms their existing knowledge and experience into new skills at worthwhile activities that include uncertainty and adaptation.” In other words, the most intelligent algorithms are able to predict what will happen in a variety of situations with only a tiny quantity of experience.

In contrast, Stuart Russell and Peter Norvig address the idea of AI by organising their work around the theme of intelligent agents in machines in their book Artificial Intelligence: A Modern Approach. In this light, Artificial Intelligence (AI) is defined as “the study of agents that acquire perceptions from the environment and perform actions.”

FOUR TYPES OF APPROACHES ARE DEFINED AS ARTIFICIAL INTELLIGENCE

(i) Thinking like a human being means modelling thought after the human mind.

(ii) Rational thinking is the imitation of logical cognition.

(iii) Being humane means acting in a way that resembles human conduct.

(iv) Rational behaviour refers to behaviour that is intended to accomplish a specific objective.

The first two ideas deal with how people think and rationalise, whereas the remaining ideas are concerned with how people act.According to Norvig and Russell, “all the skills needed for the Turing Test also allow an agent to act rationally.” They place special emphasis on rational agents that act to achieve the greatest results.

“Algorithms enabled by restrictions, exposed by representations that support models focused at loops that tie thought, perception, and action together,” is how Patrick Winston, a former MIT professor of AI and computer science, characterised AI.

Although these concepts may seem esoteric to the average person, they assist to focus the discipline as a branch of computer science and offer a guide for incorporating ML and other branches of AI into programmes and machines.

The Four Categories of Machine Intelligence

Based on the kinds and levels of difficulty of the tasks a system is capable of performing, AI can be categorised into four categories. Automated spam filtering, for instance, belongs to the most fundamental category of artificial intelligence, while the distant possibility of creating robots that can understand human emotions and thoughts belongs to a completely separate subcategory of AI.

1.Reactive Machines

The most fundamental AI principles are followed by a reactive computer, which, as its name suggests, can only use its intellect to see and respond to the environment in front of it. A reactive machine cannot utilise past experiences to inform current decisions since it lacks memory. Because they can only experience the world right away, reactive machines can only carry out a limited number of highly specialised jobs.

However, intentionally limiting the scope of a reactive machine’s worldview means that this kind of AI will be more dependable and trustworthy – it will respond consistently to the same stimuli.

The chess-playing supercomputer Deep Blue, which was created by IBM in the 1990s and defeated Gary Kasparov in a game, is a well-known example of a reactive machine. Deep Blue was only able to recognise the chess pieces on a board, know how each moves according to the game’s rules, acknowledge each piece’s current position, and decide what would be the most logical move at that precise moment. The machine wasn’t striving to better place its own pieces or anticipate prospective movements from the other player. Every turn was perceived as existing independently of any earlier movements and as having its own reality.

Google’s AlphaGo is another illustration of a reactive machine that plays games. Due to its inability to predict moves in the future and reliance on its own neural network to analyse game developments in the present, AlphaGo has an advantage over Deep Blue in more difficult games. In 2016, champion Go player Lee Sedol was defeated by AlphaGo, which has already defeated other top-tier opponents in the game.

Reactive machine AI can achieve a level of complexity and offer dependability when developed to carry out recurring tasks, despite its constrained scope and difficulty in modification.

2. Limited Memory

When gathering information and assessing options, limited memory AI has the capacity to store earlier facts and forecasts, effectively looking back in time for hints on what might happen next. Reactive machines lack the complexity and potential that limited memory AI offers.

An AI environment is developed so that models can be automatically taught and refreshed, or AI is created when a team continuously teaches a model in how to understand and use new data.

The following six actions must be taken when using ML with restricted memory AI: 1.Training data must be created 2.The ML model must be developed,3. be able to generate predictions, 4.be able to accept feedback from humans or the environment, 5.be able to store that feedback as data, and 6.all of these stages must be repeated in a cycle.

3.Theory of Mind

It is only speculative to have a theory of mind. The technological and scientific advancements required to reach this advanced level of AI have not yet been attained.

The idea is founded on the psychological knowledge that one’s own behaviour is influenced by the thoughts and feelings of other living creatures. This would suggest that AI computers would be able to reflect on and decide for themselves how people, animals, and other machines feel and make decisions. Robots ultimately need to be able to understand and interpret the concept of “mind,” the fluctuations of emotions in decision-making, and a litany of other psychological concepts in real time in order to establish two-way communication between people and AI.

4. Self Awareness

The final stage of AI development will be for it to become self-aware after theory of mind has been created, which will likely take a very long time. As conscious as a person, this kind of AI is aware of both its own presence and the presence and emotional states of others in addition to its own. It would be able to comprehend what other people could need based on both what they say to them and how they say it.

AI self-awareness depends on human researchers being able to comprehend the basis of consciousness and then figure out how to reproduce it in machines.

How is AI used ?

DataRobot CEO Jeremy Achin gave the following definition of how AI is used now in his lecture to a crowd at the Japan AI Experience in 2017.

“AI is the ability of a computer system to carry out operations that often require human intelligence… These artificial intelligence systems are frequently powered by machine learning, occasionally by deep learning, and occasionally by really dull stuff like rules.

Based on its capabilities, artificial intelligence can be categorised in three different ways. These are stages through which artificial intelligence (AI) can develop rather than different varieties, and only one of them is currently feasible.

1.Narrow AI, sometimes known as “weak AI,” is a replica of human intellect that only operates in specific contexts. Even while these machines may appear clever, they are functioning under many more restrictions and limits than even the most primitive human intelligence. Narrow AI is frequently focused on executing a single task exceptionally well.

2. Artificial General intelligence (AGI) AGI, often known as “strong AI,” is the type of artificial intelligence (AI) that we see in movies, such as the machines in Westworld or Data in Star Trek: The Next Generation. A machine with general intelligence, or AGI, can use its intelligence to solve any problem, much like a human being.

3.Superintelligence : This will probably mark the apex of AI development. Superintelligent AI will be able to not only mimic but also outperform human intelligence and complex emotion. This could entail forming its own opinions and conclusions, as well as its own ideologies.

Advantages and Disadvantages of Artificial Intelligence

Although AI is undoubtedly seen as a valuable and rapidly developing asset, this young area is not without its drawbacks.

In 2021, the Pew Research Center polled 10,260 Americans about their views on AI. According to the findings, 37% of respondents are more concerned than excited, while 45% of respondents are both excited and concerned. Furthermore, more than 40% of respondents said they believed driverless automobiles will be detrimental to society. Even still, more respondents to the survey (almost 40%) thought it was a good idea to use AI to track the spread of incorrect information on social media.

AI is a blessing for increasing efficiency and productivity while also lowering the possibility of human error. However, there are some drawbacks as well, such as the expense of development and the potential for robots to take over human occupations. It’s important to remember, though, that the artificial intelligence sector has the potential to provide a variety of occupations, some of which haven’t even been imagined yet.

Importance of Artificial Intelligence

AI has a variety of applications, including speeding up vaccine research and automating fraud detection.

According to CB Insights, 2021 witnessed a record-breaking year for AI private market activity, with global funding rising 108% from the previous year. Due to its quick acceptance, artificial intelligence (AI) is creating a stir in a number of businesses.

Business Insider Intelligence found that more than half of financial services companies now use AI technologies for risk management and revenue generation in its 2022 research on AI in banking. The application of AI in banking could result in savings of up to $400 billion.

According to a 2021 World Health Organization study on medicine, despite challenges, integrating AI in the healthcare sector “has tremendous potential” since it might lead to benefits like better health policy and more accurate patient diagnosis.

AI has also impacted the entertainment industry. According to Grand View Research, the global market for AI in media and entertainment would increase from a value of $10.87 billion in 2021 to $99.48 billion by 2030. In that extension, AI applications like detecting plagiarism and creating high-definition visuals are included.

All You Need to Know about NFTs-2022

Post author By widgetitis
Post date October 30, 2022
1 Comment on All You Need to Know about NFTs-2022

The musician Grimes recently sold several cartoons she and her brother Mac created on the Nifty Gateway website. All were purchased in about 20 minutes, with total sales exceeding US$6 million. Some were one-of-a-kind pieces, while others were limited editions of only a few hundred.

Despite the high cost, anyone can view the movies, which feature a cherub flying over Mars, Earth, and fantastical landscapes, or (with a simple right-click) save a copy of them. The enthusiastic buyers were given a particular form of tradable certificate called a “non-fungible token,” or NFT, rather than a copy of the files itself. In reality, though, what they were paying for was the chance to sell that aura of authenticity to someone else in the future and an air of authenticity.

NFTs enable new kinds of digital goods and are a cultural response to the technical scarcity that is occurring on the internet. High art, rock music, and even new mass markets for virtual NBA trading cards are all being penetrated by them. Additionally, they are making a few people wealthy in the process.

How does NFTs Work

NFTs are the Digital Certificates that are used to authenticate ownership claims and permit the transfer or sale of assets. Similar to the blockchain technology that powers Bitcoin and other cryptocurrencies, the certificates are protected.

A decentralised alternative to a centralised database is a blockchain. Blockchains often hold data across a peer-to-peer network in encrypted form, making them incredibly challenging to hack into or tamper with. They are consequently advantageous for maintaining significant records.

Cryptocurrencies allow fungible trade, which means that anyone can create Bitcoins that can be exchanged for other Bitcoins. This is the primary distinction between NFTs and cryptocurrencies. NFTs are used as individual chains of ownership to track a particular item and are by definition non-fungible. NFTs are intended to reflect a distinct claim on an item and to uniquely restrict access to it.

Things start to get strange at this point. NFTs are frequently employed to assert “ownership” over digital assets like movies, JPEGs, and other digital files that are otherwise entirely copyable, pasteable, and shareable.

It might be difficult to define what authenticity and ownership actually mean online. Copying, pasting, and remixing have been the driving forces behind internet culture and the internet itself to produce new kinds of real creative work.

Technically speaking, the internet is a mechanism for quickly and publicly transferring a series of ones and zeroes from one computer to another, where they are then accessible. Online content is frequently what economists refer to as “non-rivalrous goods,” which implies that one person viewing, sharing, or remixing a file has no effect on other people’s ability to do the same.

Constant sharing generates an almost endless supply of content that may be seen, shared, copied, or remixed into new works, fostering the economies of abundance that underpin internet culture.

The foundation of TikTok is the reinvention of typical aural loops with accompanying, seemingly infinite, but distinctive visual rituals, which are then imitated in seemingly endless variants. Tweets on Twitter only have value to the extent that they are retweeted. Only insofar as Facebook’s algorithm determines that posting them would boost engagement by encouraging additional sharing does fake news exist.

Digital content’s ability to disseminate has been crucial to its survival and sustainability. Information wants to be free was the mantra of the first cyber-libertarians on the internet. In the past, stopping the dissemination of information online involved disabling technological features (like encryption) or legal frameworks (like copyright).

NFTs, on the other hand, combine code and culture to produce a type of control that doesn’t rely on breaking the law or undermining already-existing structures. They produce a particular form of “authenticity” in a society where everything is shareable.

Whats Next ?

William Gibson, a Canadian science-fiction author, famously referred to the internet as a “consensual hallucination” in which billions of people believed that the online world was real over 40 years ago. NFTs take this to the next level by creating a shared delusion that one set of ones and zeroes is superior to another set of identical ones and zeroes.

Online access to Beeple’s animation CROSSROADS is free, however the NFT that independently grants ownership of the work recently changed hands for US$6.6 million. Beeple NFTs operate by restoring a shared delusion of scarcity into an abundant reality. Since the NFT market is already valued hundreds of millions of dollars, there is no shortage of buyers. Sports trading cards, however modest, will never be identical.

Are NFTs different enough to break the internet ?

The true purpose of NFTs is to draw a distinction between common online content producers and users and those who are privileged enough to receive payment for their labour or assert ownership of “genuine” works. NFTs are attempting to regionalize cultural dissemination, whereas the internet decentralised content creation.

The exchange of fungible currency for non-fungible legitimacy is made possible by NFTs. It’s a common practise that happens in a variety of businesses and has a lengthy history in, um, art history.

Nobody can predict how the culture-code of NFTs will alter, but for the time being, it is creating a tonne of new opportunities for the exchange of new currency.

At first glance, it could appear that this gives creatives everywhere a way to get paid for otherwise plagiarised work. However, establishing normative guidelines for online content payment has not been easy up to this point. Consider the middling compensation musicians receive from streaming sites like Spotify.

Because they rely heavily on computer power to encrypt their tokens, NFTs have also come under fire for their wasteful energy usage. The calculations necessary to produce NFTs for each of Grimes’ animations, according to the CryptoArt calculator, would have produced roughly 70 tonnes of CO2 emissions and used enough electricity to boil a kettle 1.5 million times. I’m not sure if the price for future generations was factored into the current market value or any potential increase if tokens are exchanged cryptographically.

Beyond the tonnes of CO2 they emit, the actual value of NFTs lies in the way they foster a new cultural understanding of what constitutes authenticity and who is in charge of maintaining it. On the larger web, NFTs produce new systems of hierarchy, power, and exclusion. They already produced a brand-new variety of the haves and the have-nots.

Criticisms faced by NFTs

According to Schachter, the traditional art world, which is wary of the disruption, is the source of much of the criticism of NFTs.

Simply comparing it to a currency is the first line of attack, according to Schachter. “‘It’s only money,'” What, then, is worth more money than unseen art kept in a freeport?

Others who disagree claim that viewing art should only be done in person and in museums. However, Schachter noted, “there is already specialised technology to view NFTs at your workstation. It is a standalone gadget that continuously plays your NFTs.

Yet there are many doubters.

According to Anil Dash, a businessman who writes about NFTs, the market is controlled by people who cover their desire to make money with a love of art.

Many of the same folks are buying meme stocks, Dash observed. “They don’t think GameStop will suddenly become really good at selling videogames any more than they think this terrible monkey picture is really economically valuable.”

Future of NFTs

The future of NFTs is uncertain, much like that of any emerging asset class.The transaction and environmental costs that are currently associated with using cryptographic technology will eventually be dealt with by the market. Additionally, we must establish more precise legal frameworks for NFT ownership and clarify how NFTs relate to various types of ownership rights that already exist, notably those relating to intellectual property.

However, the community-based NFT initiatives that have so far been successful offer a glimpse of potential future advances.

By enabling people to develop and rely on new kinds of ownership, NFTs enable new marketplaces. These initiatives are successful because they make use of a key feature of cryptocurrencies: a token’s value is established by the consent of all of its users. This suggests that the value of NFTs is primarily determined by the community that develops around them. And when people get more involved and incorporate these communities into their personal identities, this value is strengthened.Newer applications will feature increasingly complicated token designs and make better use of online-offline links. But it’s less startling than you may think that people are still making money by selling pictures online.

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Tags Blockchain, Cryptocurrencies, Digital, Internet, NFTs

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Crypto Lending – An Easy Source Of Passive Income-2022

Post author By widgetitis
Post date October 29, 2022
1 Comment on Crypto Lending – An Easy Source Of Passive Income-2022

Even with the same income, high inflation causes your bills to increase. With prices soaring, everyone would want to make a few extra cash to help support themselves. So , Crypto Lending could be the idea that can enable you to generate some more passive money with no effort.

There is more interest in the subject as a result of growing blockchain usage and the revival of cryptocurrencies despite numerous corrections. Many cryptocurrency entrepreneurs who require funding to launch fresh, creative ideas are drawn to this curiosity as well. Platforms for crypto lending collect resources from several small and large lenders and lend them to those who require the money. In exchange, lenders receive interest payments from the cryptocurrency they have lent out.

Additionally, individuals hang onto crypto coins and watch for price increases to benefit from them. They can, however, lend cryptocurrency and get interest on it (just like conventional banks). The crypto industry is always changing, and automated payments and escrow smart contracts have made the field much safer for new users.

What Is the Process of Crypto Lending ?

The mechanism behind cryptocurrency lending is really simple. In actuality, it functions similarly to how conventional banks do. You can start collecting money on your cryptocurrencies after depositing your coins with a crypto lending firm. The institutional borrowers on these platforms typically take out loans against the coins you deposit. Cryptocurrency is lent by platforms like Hodlnaut to thoroughly vetted financial institutions that require financing for their operations.

You often need to register an account with such crypto lending companies and deposit your coins there in order to start earning interest. However, the majority of these crypto lending platforms require you to go through a rigorous KYC process. Holding your coins with the cryptocurrency interest-earning platforms enables you to generate a passive income stream that will allow you to maximise the value of your crypto assets. There it is, then! a quick approach to increase your cryptocurrency income.

The top 5 sites with which you can store your coins to begin generating passive income right away are listed below.

1. BlockFi

Users can deposit money into their web wallet to earn interest on it using BlockFi’s user-friendly interface. The business was established in August 2017 and is situated in New Jersey. It supports a number of other cryptocurrencies, including BTC, DOT, USDT, LTC, ETH, and BAT. The platform offers a tiered structure, with different fees depending on how much is deposited for the cryptocurrency of choice.

Mobile devices running iOS and Android can use the BlockfFi app.

Dot (Polkadot) offers the highest interest rate at 15%. Interest rates for Bitcoin can reach 3.5%. Stablecoins offer interest rates of 8.5% (for BUSD and USDT) and 8.75% (for USDC).

You can always send and receive coins from BlockFi. However, there is only one monthly interest payment. Additionally, there are no withdrawal costs for one withdrawal every month. The Gemini Trust Company, which issues GUSD, guarantees BlockFi’s funds. Check out the BlockFi review to find out more.

2. Celsius Network

If you want to get interest on your crypto assets, you should look into Celsius, another crypto lending site. In addition to supporting Bitcoin Gold, Bitcoin Cash, and other cryptocurrencies, it offers an iOS and Android app. With Celsius, you may earn stablecoins up to 8.8% APY and up to 6.2% APY. You can always add or remove coins, and the interest is paid out monthly.

The market conditions determine how the interest rates alter and fluctuate. You may always visit their website to learn more about the most recent rates. Users of the platform can also receive a greater interest rate by investing in its native CEL token coin.

3. Crypto.com

Popular cryptocurrency credit card and wallet provider Crypto.com also provides crypto financing as a service. With a 14.5% interest rate, it has the highest rate on our list.

Users can earn up to 6% APY on Bitcoin and up to 10% APY on stablecoins with their Earn programme. However, depending on how long you hold the coins and the amount you lock in, the loan rates change. The interest rates will be lower if you decide not to lock the coins on the site.

The best thing to do is to always check their official website for the most recent interest rates. Please be aware that Crypto.com currencies are not available everywhere, and citizens of Switzerland, Malta, or Hong Kong SAR are not eligible to participate in the Earn programme. Read our review of Crypto.com to find out more.

4. YouHodler

YouHodler is an EU-based business that specialises in both currency loans and lending backed by cryptocurrencies. Both stablecoins like USDC and cryptocurrencies like Bitcoin offer interest rates.

YouHodler offers interest rates of up to 11.28% each week in the form of distributions in stablecoins and cryptocurrency. YouHodler lets you lend your cryptocurrency for up to 4.8% APY on Bitcoin and 12% APY on stablecoins (compounding). There are other 56 assets that can earn interest.

Additionally, YouHodler permits using savings as a form of security for loans. Depending on the value of your crypto assets, you can borrow money whenever you want using the YouHodler exchange. Since its start, the network has rapidly expanded and now supports a large number of cryptocurrencies as well as stablecoins. Read YouHodler’s review to discover more.

5. Hodlnaut

Hodlnaut is a website that offers services for borrowing and lending cryptocurrency. It was founded by two Singaporean Bitcoin maximalists. With Hodlnaut, users may earn up to 7.25% APY on stablecoins and up to 4.08% APY on Bitcoin. Users may sign up for their Hodlnaut Interest Account either the web app or the iOS mobile app, and the platform is quite simple to use.

Six cryptocurrencies are supported by Hodlnaut: BTC, WBTC, ETH, DAI, WBTC, USDC, and USDT. Every Monday, interest payments are made. Users can withdraw their money whenever they want, and there are no minimum deposits or lock-ins required! Additionally, a fixed deposit option exists that offers interest after maturity. There are 28 to 180 days of holding time.

Hodlnaut is a developing platform in the crypto lending industry with an AUM of $500 million at the moment. The platform now has more than 10,000 active users and more than $350 million in assets. A Trustpilot rating of 4.8 (based on 676 reviews) attests to Hodlnaut’s superior customer support. Read our Hodlnaut review for more information.

Demerits Of Crypto Lending

1.You may not be able to access your funds as quickly as you would like on some loan services. This lack of liquidity can jeopardise your financial stability, particularly if too much of your capital is invested in loans and so immobile.

2. Most cryptocurrency financing is unregulated. As a result, when a platform is exposed as a sophisticated Ponzi scam, no financial regulations are there to protect your money.

3. Your lender will issue a margin call if the value of your collateral declines. Then, by a particular date, you must deposit further collateral. In the absence of payment, the lender will sell your collateral. You will suffer a loss in this scenario, but you keep the borrowed funds.

4. The high collateral requirements for cryptocurrency lending significantly raise your risk of loan default.

5. Since CeFi and DeFi’s loan services are only available online, hacker organisations frequently target them. Your money is therefore less secure than it would be in a regular bank as a result.

How Secure is Crypto Lending ?

Yes, crypto lending is generally safe because your funds are dispersed via smart contracts. These contracts are transparently auditable and verifiably secure, or at the very least, as secure as the platform that makes them available. Additionally, the strict collateral rules ensure the safety of your money anytime you lend out cryptocurrency.

There are a few exceptions, though, that we should go over. The main issue with crypto financing is that it is generally unregulated. As a result, you’re on your own if a platform-breaking bug or a malicious hacking organisation shuts down a platform through which you lend cryptocurrency. There is no regulator or organisation that can or will assist you in getting your money back. Additionally, some businesses can even lock your funds into their platforms during periods of harsh market conditions to prevent the site from going offline, as was the case with Celsius. These kinds of extreme situations can leave you up a creek without a paddle.

Conclusion

Many users have their tokens and coins dormant in several wallets. By lending them to the aforementioned services, you may put them to work for you rather than keeping them in your wallets and waiting for their value to rise. To protect your crypto funds, choose a platform that provides high interest rates and adheres to all security best practises.

However, you must always conduct adequate research before putting your coins into a crypto loan site. Before investing to increase your cryptocurrency assets by lending them, make sure the platform you choose is accessible in your nation and that you have thoroughly read the terms and conditions.

What is “Web 3.0 – The Future of Internet” ?-2022

Post author By widgetitis
Post date October 28, 2022
1 Comment on What is “Web 3.0 – The Future of Internet” ?-2022

The newest version of the Web is known as Web3, or Web 3.0. Web 2.0 is the current version of the Internet, and social media platforms and centralization have taken over. The majority of people are often concentrated on regulated social media platforms. Most of their data is kept in cloud storage facilities and on centralised data servers. On centralised web servers and centralised cloud servers, the web applications are hosted. Let’s take a closer look at Web 3.0 in this essay and the key technologies that will shape it.

The Semantic Web is what Tim Barners-Lee named it. The phrase “Web3” was first used in 2014 by Ethereum co-founder Gavin Wood, who sees decentralised technologies as the Web’s future. Elon Musk recently questioned whether anyone had seen web3 on Twitter. It’s between a and z, Jack Dorsey, the creator of Twitter, retorted.

No matter what you call the next generation of the Web—Web3 or otherwise—almost it’s here. The purpose of this article is to explain Web3 and the technologies that make it up. However, before doing that, it is important to know what Web 1.0 and Web 2.0 are.

Web 1.0

1989 – 2005

The World Wide Web (W3 or WWW), often known as the Web, is a network of interconnected computer systems that employs URLs (Uniform Resource Locators) to access and transfer digital content using Web browsers. The network is connected via the Hypertext Transfer Protocol (HTTP) protocol. Web applications, which are hosted and run on a Web Server, are used to host and manage the content (web pages, files, photos, videos, and other documents).

Tim Berners-Lee, an English scientist, and Robert Cailliau, a co-inventor, developed the World Wide Web in 1989. Tim created the first web browser in 1990 while working as a contractor at CERN near Geneva, Switzerland. It was made available to the public in 1991.

Web 1.0 was the first version of the Web, and it was mostly made up of static web pages that were linked to and contained HTML-based content. Users used the majority of the content that was written and published on the Web servers to publish and share information with others. The user interfaces were static and unresponsive since the web pages’ content was incorporated directly into the html pages. In this time period, desktop computers were mostly used to access the Internet.

Web 2.0

2005 – present

Web 2.0, commonly referred to as the dynamic web, can be compared to the dynamic web before more companies began using the Internet. Data grew more dynamic, and backend databases started to develop and be used. The idea of centralised servers developed, and cloud computing finally took control. Today, this still occurs. Almost every organisation is moving its data and apps to public, private, and hybrid clouds at this time since we are in the era of clouds.

In addition, HTML 5, JavaScript, and CSS were introduced in Web 2.0, making the web accessible on any device, anywhere, and of any size. The development of Web 2.0 also includes front end technologies like Angular, React, and other hybrid and native mobile platforms.

The current, responsive web of today is compatible with all types of web-enabled devices, including computers, servers, tablets, smartphones, IoT, and several more smart gadgets like smart homes and cars.

The Social Web, often known as Web 2.0, enhanced the social and interactive aspects of the Internet. Apps like Facebook, Instagram, and Twitter allow users to interact and converse with people all over the world in addition to consuming content.

Video streaming, interactive photographs and graphics, and dynamic video material that is presented based on the user’s interests and choices are all part of the Web 2.0 era. Nearly 4 billion people worldwide use sites like YouTube, Netflix, and many others to watch videos.

Cloud computing was not the only technology introduced by Web 2.0; there was also serverless, AI, ML, microservices, containers, APIs, interoperability, speech enabled systems, voice apps, and many others.

Front end technologies like WebAssembly, ReactNative, and several others are still being developed as part of the ongoing evolution of Web 2.0.

Web 3.0

Gavin Wood, a co-founder of Ethereum, first used the term Web3 in 2014. The main idea behind Web3 is the use of decentralised blockchain-based platforms to offer consumers ownership over their data and store it on a blockchain. However, in my opinion, Web 3.0 will encompass much more than just blockchain.

The Web 3.0 age is approaching doors for its own reasons, even as Web 2.0 continues to prosper.

The Web 2.0 period is its golden age, but it has also brought with it numerous issues and challenges. Let’s look at a few of these challenges.

(i) Data Trust, transparency, privacy, and privacy centralization of data management

(ii) Centralized Power

(iii) The majority of data in Web 2.0 is kept on centralised servers and open clouds. Data became more susceptible to fraud, cyberattacks, and other errors as a result.

(iv) Management of personal data

Key Features of Web 3.0

1. Semantic Web

The Semantic Web, written by Sir Berners-Lee for Scientific American in May 2001, is a crucial component of Web 3.0. (Berners-Lee et al.) The Semantic Web, according to this source, “is an expansion of the current web in which information is given well-defined meaning, improving the cooperation of computers and people.” Here is a drawing that clarifies what the phrase “semantic web” means.

Data is stored everywhere in the Web 2.0 era, and numerous methods are being developed to make sense of the data. Data will be kept in the Web3 concept as information (meaningful data), making it simple to comprehend and work with both people and machines.

2. Ubiquility

Omnipresence, often known as ubiquity, refers to being present everywhere. The systems are supposed to be accessible from anyone and everywhere in the Web3 idea. With the aid of technologies like decentralisation, edge computing, offline accessibility, and other technologies, this is an expansion of existing software systems.

3. AI & Machine Learning

An additional crucial component of Web3 is AI and machine learning. It is the logical career for modern systems, where automation is expanding with the aid of AI and ML.

4.Decentralised Networks

Blockchain-based decentralised networks are expanding incredibly. Systems that are distributed and decentralised do not rely on a centralised authority or storage. The network is controlled by operator nodes, which can be located anywhere in the world and run on a peer-to-peer protocol.

Web 3.0 Applications

1.Wolfram Alpha

Wolfram Alpha wants to be a top Web 3.0 application by 2022. It is a Wolfram Research product that provides a computational knowledge engine to aid in the visualisation of the data acquired from internet databases. Instead than listing websites like a search engine, it is utilised to provide direct answers. It can provide you with better information in less time than even Google Search Engine because to the inventiveness of the expertise.

2. Siri ,Google Assistant and Alexa

The semantic web is used by the voice assistants from the top three tech companies in the world: Google Assistant, Alexa, and Siri. Users using this programme can now perform tasks they were before unable to perform thanks to voice recognition and natural language processing. These assistants can now respond to a wide range of queries from their users.

3. Flickr

Flickr is a website for photography and photo sharing that enables users to find, create, post, and share photographs with people they care about. Flickr has one of the largest public databases with billions of photographs organised into thousands of categories and over 17 million active visitors each month.

4. Facebook/ Meta

It would be the most populous country in the world if it were a country. Facebook and Instagram, the two most popular social networking sites from the Meta, are having a daily impact on users’ lives and are expanding their reach tremendously. With the use of Web 3.0 technologies, users discover and establish new communities and connections. Customer involvement and engagement are further increased via apps created around the Facebook ecosystem.

Conclusion

Web 3 is here to stay, and there’s no denying that our educational system needs to change quickly to keep up with students’ changing needs and the skills they’ll need to succeed in the future. But as our educational system changes to keep up with the Web 3, we are confronted with challenging open questions about security, privacy, and addiction as we start to adopt real-world Ed 3 solutions. It is imperative to avoid falling into the myth that technology will be the panacea for all of our current educational problems; it never has been and never will be.

Hopefully, a smarter web and a more individualised web browsing experience will lead to a more equitable internet. The most important aspect of Web 3.0 will be user empowerment since they will have control over their data.

More sectors will be impacted by AI, ML, IoT, and associated technologies as the momentum behind dApps (decentralised applications) and DeFi (decentralised finance) grows.

Please Visit :

1. Role of Blockchain in Global Healthcare System-2022

2. Blockchain-Based Voting System : 2022

to know more about Blockchain applications .

Tags AI, Alexa, Data, Ethereum, Google, Internet, ML, Siri, web 1.0, web 2.0, web 3.0

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Role of Blockchain in Global Healthcare System-2022

Post author By widgetitis
Post date October 27, 2022
No Comments on Role of Blockchain in Global Healthcare System-2022

Blockchain has a broad range of applications and uses in Healthcare Centre. The management of the medication supply chain, safe data transfer of patient medical records, and assistance in genetic code discovery are all made possible by distributed ledger technology.

Blockchain technology has been discovered to be advantageous in actual healthcare environments, according to a study titled “The Use of Blockchain Technology in the Health Care Sector: Systematic Review” by Associate Professor Dr. Khang Wen Goh from the Faculty of Data Science and Information Technology at INTI International University and eight other international researchers.

The main objectives of this study are to evaluate the existing literature on blockchain technology’s application in the healthcare sector and to look at the traits that prior blockchain technology-based research has in common.

The management of Electronic Medical Records (EMRs) was the primary focus of the majority of the study on blockchain technology in healthcare environments, according to the findings of the systematic review, said Dr. Goh.

The use of blockchain technology in fields other than EMRs, such as biomedical research and education, remote patient monitoring, pharmaceutical supply chains, health insurance claims, health data analytics, and others, was also discussed by the speaker.

Now , we will go through a detailed discussion over the role of Blockchain in Healthcare centre .

You can click on Blockchain-Based Voting System : 2022 to know more current status of global Voting System.

Security Through Blockchain

It’s not surprising that the most well-liked blockchain healthcare application at the moment is keeping our critical medical data safe and secure. Security is a significant problem in the healthcare sector. From July 2021 to June 2022, 692 significant healthcare data breaches were disclosed. Health and genomic testing records, as well as banking and credit card information, were stolen by the offenders.

Blockchain is a technology that is ripe for security applications because it can maintain an incorruptible, decentralised, and transparent ledger of all patient data.

Additionally, blockchain is both private and transparent, obscuring any person’s identity with intricate and secure protocols that can safeguard the sensitivity of medical data. The technology’s decentralised structure also makes it possible for patients, physicians, and other healthcare professionals to easily and securely share the same information.

The bitcoin market helped make blockchain technology more well-known, and businesses like Deloitte and Microsoft have lately made investments in it.

Security is ensured in a blockchain because each piece of data is combined with others before being confirmed at every node in the network of interconnected databases. The data becomes buried and more challenging to manipulate when blocks are increasingly joined together. The requirement for single-point, independent fiduciaries is eliminated by this method.

With this level of protection, blockchains might be used to store health data, making it simple for individuals with authorization to access and transfer the data. Advocates claim that by providing patients with ongoing access to their wellbeing information, this could encourage good lifestyle choices in the face of chronic illnesses.

Fundamentally understanding your score as an individual, as a customer, is the key to having control over your own health, according to Kay. “Consider having access to and control over who sees your personal health and wellness records at any time during your life.”

In the future Kay described, there will be “zero friction points between the time a patient sees a doctor and the time the payments and settlements are done,” because to the data’s navigability on blockchains.

In terms of providing interoperability and the transmission of pertinent patient data from one location to another, blockchain holds the most promise for caregivers.

Is the global healthcare system collapsing, and is blockchain the answer?

The global health care business is on the verge of collapse, according to Deloitte’s 2022 Global Health Care Outlook. The COVID-19 pandemic has worn out medical personnel, overburdened institutions, adversely affected and further marginalised sizable segments of the population, and reduced demand for and access to non-COVID-19-related medical care.

In other words, the pandemic has made an already failing healthcare system worse. This sector has been plagued by years of inefficiencies, funding reductions, failed reformations, and overcentralization. However, this is fixable.

Extreme measures must be made to make sure that the global healthcare system does not completely fail. The adoption of blockchain technology will enable a decentralised and dispersed setting that, in the end, benefits and safeguards everyone, as a healthy healthcare system ought to.

When communicating with different parties, blockchain-based solutions for health documentation provide secure encryption methods that protect the integrity of users’ personal information. Pre-authorization will be drastically reduced by tokenization, smart contracts, and the encryption methods used in blockchain network transactions, allowing patients to receive the necessary and informed care more quickly. When previously relying on the patient or on files physically delivered or emailed from many sources, such as local doctors, labs, etc., the healthcare professional is now able to get the pertinent information promptly.

Tokenisation can assist and enhance communication between the patient and the healthcare practitioner in addition to facilitating more effective contact and communication between insurance companies and healthcare providers.

Five Major Uses of Blockchain in Healthcare

1. Boost Doctor-Patient Communication

You have complete access to and control over your own private health data with MedicalChain. While data is kept safe on the blockchain, users can provide clinicians rapid access to their health record via their mobile devices. Additionally, patients can wear wristbands that can be scanned by medical personnel to retrieve a patient’s medical information if they are asleep. Additionally, it provides telemedicine communication, allowing for doctor video consultations over the internet.

2. Prevent Diseases

The U.S. government agency Centers for Disease Control and Prevention (CDC) is presently investigating blockchain-related use cases for disease prevention. It outlines the use of blockchain in particular for timestamping documents to quickly identify and report disease outbreaks.

For that reason, the CDC and IBM collaborated to develop a monitoring system for government organisations that will efficiently collect and compile information about patients and prescriptions.

3. Makes Easy Access of Medical Records

Patient data management is one of the most well-liked blockchain applications in healthcare. Since health organisations frequently separate medical information, it is impossible to ascertain a patient’s medical history without first contacting their previous healthcare practitioner. This procedure can be time-consuming, and mistakes brought on by human error may frequently occur.

MedRec is a system that promotes patient agency and provides a clear and approachable perspective of medical history. It was created on the Ethereum blockchain. In order to make it easier for patients and doctors to view, MedRec is designed to house all of a patient’s information in one location. The Proof of Authority (PoA) mechanism is how the blockchain is currently maintained by providers.

4. Use of Blockchain in Healthcare and Relief Operations

The Department of Defense (DD) and the Defense Logistics Agency (DLA) studied the possibilities of blockchain for future relief efforts using Hurricane Maria relief efforts as a point of comparison. The DLA now uses technologies that are centrally administered and divided among several organisations to track logistics. Because of this, coordination among aid agencies is challenging.

A blockchain-based solution would make it possible to input data and track it through a ledger, enabling a real-time feed of the rescue activities of various agencies. It might be able to save money and lives.

5. Blockchain to Support Healthcare Data Security

Healthcare is one of the areas for which Guardtime offers its dedicated cybersecurity module, Guardtime Cybersecurity. A single, immutable copy of health data is shared among all parties involved in Guardtime Health, a platform for patients, clinicians, regulators, and others.

Every data asset in the network is “signed” by the system using a cryptographic stamp, enabling the ability to trace each piece’s origins. As a result, the distribution and openness of blockchain ensure that any effort at corruption is quickly and transparently detected.

Possible Difficulties

Of course, there are challenges standing in the way of blockchain’s widespread adoption in the healthcare industry.

The industry itself, which is famously averse to significant change, may prove to be the greatest obstacle. Since they profit from treating specific ailments rather than the broad spectrum of health, the most well-known insurance firms now have little financial motivation to make the market easier to navigate for customers.

Then there are the strict rules that apply to sensitive topics like health care. The Health Insurance Portability and Accountability Act might not cover a significant change in how patient data is kept after it has undergone a comprehensive review.According to Stephanie Fetzer, an IBM project architect and conference panellist, “it would be at glacial speed if we were to wait for the U.S. government to enforce certain technology surrounding blockchain.”

Finally, the people who are most opposed to the adoption of blockchains may be the patients themselves. It will be challenging for regular people to trust their medical records with something they don’t fully comprehend.

In other words, before launching a full-scale revolution in health care, blockchains might need to prove themselves in more limited contexts.

Future of Global Healthcare Centre

Blockchain technology has the potential to save money, advance investments in vital resources, and assist the growth of the global healthcare sector. With so much on the line, it is implausible to believe that the dysfunctional, highly bureaucratic, and ineffective healthcare system we currently have can last. It’s time for patients, professionals, and executives to adopt the system-based innovations and technologies at our disposal.

By 2025, the implementation of blockchain in the healthcare industry could result in annual savings of up to $100 billion, according to a Bisresearch survey. The industry will progress toward full compliance and openness as a result of tokenization, which would eliminate avoidable third-party clients, counterfeit prescription medications, and dangerous malware. This could result in cost savings for both patients and healthcare providers.

Although it may be claimed that digitising and sending health information in blocks takes time, the healthcare sector is finally catching up thanks to the rapid adoption of Blockchain in other industries. The two groups that stand to gain the most from this trend are without a doubt the patient and the healthcare provider.

Sources-

Blockchain Technology

Blockchain-Based Voting System : 2022

Post author By widgetitis
Post date October 26, 2022
2 Comments on Blockchain-Based Voting System : 2022

Researchers have proposed Blockchain-Based Voting as a fix which can provide more security and privacy to the voter . While there are several security flaws in the electronic voting devices used in the US, the idea of mobile application-based voting raises questions about voter verification and raises worries about election fraud.

As technology permeates every part of our lives, there is growing interest in using electronic voting in elections because, according to those who support it, it can increase voting security and speed up the voting process.But even while it would appear as simple as modernising the antiquated paper voting procedure, the switch to electronic voting has not been without issues.

The idea is that it becomes far more difficult to tamper with electronic voting by using blockchain, a decentralised distributed ledger technology that records transactions in a way that ensures they can’t be altered without the permission of all participants.

Please Visit BLOCKCHAIN-Definition, Applications, Working and Future to know more about the technology.

With different degrees of success, blockchain was tested in several election systems between 2017 and 2018, and governments and municipal authorities have continued to test the technology over the past year.

Zug, dubbed the “Crypto Valley” of Switzerland, tested a blockchain-based electronic voting system last summer, allowing 220 voters with registered digital IDs to cast their ballots on a platform created by Luxoft and Hochschule Luzern’s Blockchain Lab.

Four out of five Zug locals said they were in favour of using electronic voting in the city after the trial, according to a survey conducted afterward. However, opinions on whether blockchain increases or decreases the security of electronic voting were divided. Only 21% of respondents indicated they thought blockchain technology made electronic voting more secure, and 16% said they were concerned about security.

Many voters also wanted the option to vote by conventional mail as long as e-voting technology is still developing.

Advocates for blockchain voting point out that it helps protect electronic voting from manipulation, hacking, and other outside interference as one of its main advantages. Blockchain-based voting systems have been discovered to have security weaknesses in a number of instances, nevertheless.

A security researcher discovered a serious flaw in the Ethereum-based voting system that was going to be used in the Moscow City Duma election in August. In the worst situation, the flaw might allow users of the system—which was created by the Moscow Department of Information Technology—to see the votes they’ve cast. The department promised to address the vulnerability before the vote after being made aware of the problem.

Election security and computerised voting are top priorities as the 2020 US Presidential election approaches. There have been a few small-scale local trials of blockchain-based voting as the US gears up for Vote 2020, with counties in West Virginia among those evaluating the technology.

Participants in the trial—most of whom were deployed military personnel—used a blockchain smartphone app created by a startup named Voatz.

Users had to provide their phone number and an eight-digit code after downloading the programme from the Google Play Store or Apple’s App Store, as well as validating their identities using photo ID and facial recognition software.

Once the software is operational, users can cast electronic ballots while using fingerprint or facial recognition to confirm their identification. During the midterm elections last year, the Voatz blockchain software was used by about 150 users in 24 counties.

Even though no votes were viewed, edited, or otherwise impacted, it was later discovered that someone had attempted to obtain unauthorised access to the system. Senator Ron Wyden has since written to the Department of Defense to request that the Pentagon evaluate Voatz, expressing worries that the programme doesn’t go far enough to safeguard against outside intervention. Senator Wyden hasn’t contacted Voatz, according to a statement, and the company indicated it would welcome any audit.

However, if the technology underlying blockchain-based voting can be undermined, then raises concerns about the security of a system that proponents believe can stop that specific type of fraud and tampering.

Even if a user takes all the necessary precautions to verify themselves on their device, it won’t matter if the back end has been compromised since, although it’s challenging to change the blockchain, it isn’t completely impossible.

“There is no such thing as absolute immutability; the only variable is how challenging it is to change something. However, with blockchain, it is quite evident when it occurs, which serves as a disincentive” VP and primary analyst at Forrester, Martha Bennett, adds.

The nature of blockchain also raises problems that might not be compatible with the special requirements of elections, which call for the registration of transactional details and the necessity for candidates to know how many votes they have got while maintaining the secrecy of the voting process.

“How can the results of the votes be kept a secret? You want to know who was voted for in order to be transparent, but you also don’t want the voter’s identity to be connected to their vote” affirms Bennett. I have serious doubts about whether this is the best technology.

However, as evidenced by the blockchain-based voting trials, there is still enthusiasm for this application of the technology.

Why Should We adopt Blockchain-Based Voting System

Some people think that the introduction of new technology in this area could be the way to bring democracy into the 21st century, when people expect ease and convenience, to be able to do something at the tap of an app, rather than walking to a community centre to cast a vote. However, there are some issues that need to be resolved before it could go mainstream.

In that it encourages more people to participate in the democratic process, the convenience factor might be advantageous.

Every nation that has tested electronic or blockchain voting for actual elections has seen a significant increase in use. David Galindo, a senior lecturer in computer security at the University of Birmingham and the head cryptographer at blockchain and AI startup Fetch.AI, claims that it is more practical.

“Convenience is so crucial in other aspects of life; consider how we switched from cash-based to contactless payments; convenience is everything.”

There were concerns about security when cashless and contactless payments were originally launched, but when individuals began using products in this way, the financial industry had to work to make it secure.

The same could occur as blockchain-based voting gains popularity since laws regarding systems, apps, and backends are required, which will actively increase system security by default.

“What you see is a byproduct of a nation or region evaluating the use of online voting. They must reevaluate their processes and procedures, which actually adds another level of compliance and thought to the system” Galindo elucidates.

In many nations, voting is still conducted in much the same way as it has for more than 200 years. For instance, in the UK, a paper ballot still needs to have a cross on it. Dr. Galindo believes that needs to be updated, and electronic voting offers the remedy.

Criticism of Blockchain-Based Voting System

Following Utah’s groundbreaking use of blockchain voting in the 2020 presidential election, several security experts have become more critical of the concept.

Going from Bad to Worse: From Internet Voting to Blockchain-Based Voting is the headline of a draught document that a group at the Massachusetts Institute of Technology published earlier this week. The article was published after an MIT study that examined the flaws in the Voatz blockchain-based voting tool was made public in February.

The authors of the new study acknowledge the worries that voters and officials may have about present election security, but they contend that the technique is not secure enough even if a blockchain-based voting option would result in increased turnout.

The report disproves the notion that adding a blockchain component will increase the security of online voting. The authors acknowledge that the traits of blockchain initially seem to make it a promising solution. There are still too many possible flaws, though.

The article stated that, “In order to prevent a single point of failure, blockchains use consensus algorithms. These methods can withstand a small number of malicious players. These concepts seem like they could be useful for electronic voting, such as employing cryptographic signatures to make vote tampering impossible and hashing and distributed consensus to keep a vote ledger that attackers cannot alter unless they control a significant portion of the network. However, putting these strategies into practise and getting them to function consistently is really difficult.”

Despite the promise of a more secure structure, one of the main drawbacks of blockchain-based voting is that it still necessitates the usage of “possibly vulnerable devices and network infrastructure.” A number of “new challenges” that blockchain creates are also listed in the paper. For instance, the authors note that should new software updates be required to fend off potential attacks, it would take greater time and effort to implement security improvements in a decentralised blockchain-based system.

Blockchain-Based voting software has a wide range of applications. The future of society depends on its capacity to engage and manage a constituency, not only to generate clear results but also to urge everyone to take part in their communities. The technology is still in its infancy right now, but as it develops, so do the young voters it will eventually assist, and it appears to be an important part of our shared future.

Tags Blockchain, elections, Electronic Voting, Ethereum-based voting, MIT, Paper ballot, Votes, Voting

Artificial Intelligence AI Arts

DALL·E Mini : A Text to Image Converter AI Tool – 2022

Post author By widgetitis
Post date October 22, 2022
No Comments on DALL·E Mini : A Text to Image Converter AI Tool – 2022

We’ll examine the DALL·E 2, the DALL·E Mini, and the state of Artificial Intelligence painting in the future. A popular AI tool on social media is DALL·E Mini, which uses language prompts to generate bizarre, amusing, and occasionally unsettling visuals. You probably experience the power of Artificial Intelligence (AI) every day when you access social media or make an online purchase. Numerous businesses employ AI to enhance business processes and automate more customer experience stages.

The idea behind AI is to enable computer replacement for humans so that simple and even certain complicated jobs can be completed without human intervention. It is hardly surprising that there are AI-powered graphic generators that can produce original pieces of art given the amount of money that many businesses are investing in artificial intelligence.

With DALL·E Mini, you can type a brief description of an image that, in theory, only exists in the depths of your soul, and the algorithm will display that image on your screen in a matter of seconds.

Internet users have already expressed interest in the relationship between art and artificial intelligence. There is a certain appeal in watching how an algorithm tackles something as subjective as art. For instance, in 2016, actor Thomas Middleditch made a short film based on a plot that was generated by an algorithm. Google has developed a variety of technologies that combine AI with art. Since 2018, users of its Arts & Culture app have been able to find themselves in well-known works of art.Alternatively, Google’s AutoDraw will recognise what you’re trying to doodle and correct it for you.

Other text-to-image systems exist, such as OpenAI’s DALL·E 2 and Google’s Imagen and Parti, which the tech giant isn’t making available to the general public.

DALL·E Mini

DALL·E Mini is a AI model that generates graphics in response to your commands. Programmer Boris Dayma claimed in an interview with the magazine I that he first created the programme in July 2021 as a component of a competition conducted by Google and the Hugging Face AI group. A comment from Dayma was not immediately forthcoming. Recently DALL·E Mini was relaunched as Craiyon, and anyone can use it without charge. Hugging Face, the business behind this endeavour, is well-known for hosting open-source AI initiatives. Hugging Face aims to establish an AI community that works together to construct the future. Since OpenAI didn’t want there to be any confusion in the market, the product was rebranded in June.

You can create images using the tool from any text prompt. Nine photos are returned when you enter a large amount of text. As users began having fun with the content they produced, the tool swiftly evolved into a meme-generating machine.

On social media platforms like Twitter and Reddit, there are several examples of AI-generated imagery. The tool uses AI to produce more than 50,000 photos every day thanks to its open-source design and 30 million training images database.

How Good DALL·E Mini is ?

DALL·E Mini is, unsurprisingly, a bit hit or miss. Dayma stated during her interview with I News that while AI is great with abstract art, it is less effective with faces. A desert’s scenery is quite lovely. Dolly Parton’s pencil drawing looks like it may take your soul. Paul McCartney claims that eating kale will shorten your lifespan.

Dayma did mention that the model is in training, which means it will get better with time (the capacity to learn is one of the things people love and dread about AI). And rather than a perfect impressionist rendering of a Waffle House, the objective should be to make the most ludicrous image you can considering the popularity of the DALL·E Mini.It’s more enjoyable to imagine the most absurd things that don’t exist or maybe shouldn’t exist and then bring them to cursed life.

Image generating could have a less amusing side and could be used to “reinforce or intensify societal biases,” according to a remark from DALL·E.

What is DALL·E and DALL·E 2 ?

Elon Musk-founded OpenAI unveiled the initial iteration of DALL·E in January 2021, but it had a lot of flaws. DALL·E 2 was released in April 2022 with enhanced capabilities. About 200 persons had access to the technology, including artists, scholars, and reliable users.

In September, the DALL·E image generator’s waiting list was removed, allowing anyone to sign up for the DALL·E 2 update. After being renamed DALL·E 2, the programme is now used by approximately 1.5 million people who produce about two million photos daily.

Although DALL·E was the first tool to be sold, many copies soon followed. The space is now being entered by tech behemoths.

Microsoft recently made the announcement that they would be releasing a visual design tool with AI. The Microsoft 365 visual design app Microsoft Designer will employ the same AI technology as DALL·E.

The creation of distinctive invitations, postcards, and other graphics will be the focus of this tool. Edge will include Microsoft Designer as well, enabling users to create original social media material without leaving their web browsers and without opening an app.

Since this might be a lucrative sector, it will be interesting to see if other businesses choose to release comparable solutions.

How is Art being altered by Artificial Intelligence ?

Numerous theories exist regarding how AI painting will alter the way humans view art. Here are some points to remember regarding this novel type.

Today, anyone can produce digital images: Lack of originality or artistic ability might make creating a digital image difficult. Anyone can use AI to just enter text into a tool, then wait for a design to be created.

You’ll start to doubt your definition of art. Despite the fact that art is a subjective experience, these new AI-generated visuals will alter how we perceive art. New styles of art could result from this since you can also develop new kinds of art.

Certain hard activities may be made simpler by AI: Instead of attempting to convey your vision to a graphic artist, you may just use text to generate a number of graphics. The future holds many changes, even though this technology is still in its infancy.

The boundaries of ownership are hazy: It will be challenging to establish ownership of creative works in the future with the ability to generate graphics from straightforward text cues.

Science Behind Dall.E

DALL·E 2 makes use of CLIP (Contrastive Learning-Image Pre- Training) and diffusion models, two cutting-edge deep learning methods developed recently.

One of CLIP’s key advantages is that it doesn’t require that the training data be labelled for a particular application. It can be trained using the vast array of pictures and hazy descriptions that are available online. In addition, CLIP may learn more flexible representations and generalise to a wide range of tasks without the strict constraints of traditional categories.

In zero-shot and few-shot learning, a machine learning model is demonstrated in real time to carry out tasks for which it has not been trained, CLIP has already shown to be quite helpful.

DALL·E 2 also uses “diffusion,” a type of generative model that learns to make images by successively denoising and noising its training data. Diffusion models work similarly to autoencoders in that they take input data and turn it into an embedding representation, which they then use to recreate the original data.

DALL·E uses captions and images to train a CLIP model. The diffusion model is then trained using the CLIP model. In essence, the embeddings for the text prompt and its related image are created by the diffusion model using the CLIP model. Then it tries to produce the image that matches the words.

Future of AI Painting

Artificial intelligence (AI) has long been predicted to revolutionise a wide range of industries, including healthcare, finance, manufacturing, and more. However, as demonstrated by a number of reinforcement learning techniques and the like, AI has the potential to not only speed up process-based tasks but also to foster creativity in some contexts.

Laboratory for artificial intelligence With DALL·E 2, a machine learning model that can produce amazing images from text descriptions, OpenAI grabbed headlines once more. DALL·E 2 builds on the success of its predecessor DALL·E and uses cutting-edge deep learning algorithms to raise the output images’ quality and resolution.

The engineers at OpenAI and its CEO, Sam Altman, ran a social media campaign to promote DALL·E 2 and published beautiful images made by the generative machine learning model on Twitter.

DALL·E 2 demonstrates how far the field of AI research has progressed in terms of utilising deep learning’s potential and overcoming some of its limitations. Additionally, it offers a glimpse into how generative deep learning models may one day enable new, useful creative applications for everyone. At the same time, it serves as a reminder of some of the issues that still need to be resolved and barriers to AI development.

Disputes over Dall.E 2

DALL·E 2 has also brought up some of the old arguments about the best strategy for creating artificial general intelligence. With the appropriate architecture and inductive biases, you can still get more out of neural networks, as demonstrated by the most recent invention from OpenAI.

Pure deep learning proponents seized the chance to disparage their detractors, pointing to recent writings by cognitive scientist Gary Marcus headlined “Deep Learning is Hitting a Wall” as evidence. Marcus supports a hybrid strategy that fuses symbolic systems and neural networks.

Even while DALL·E 2 produced some exciting results, some of the major problems with artificial intelligence have not yet been resolved, according to some scientists. In a Twitter conversation, Melanie Mitchell, a professor of complexity at the Santa Fe Institute and the author of Artificial Intelligence: A Guide For Thinking Humans, brought up some significant issues.

The Bongard tasks, which Mitchell mentioned, are a set of difficulties that assess a person’s comprehension of ideas like sameness, adjacency, numerosity, concavity/convexity, and closedness/openness.

Click to know the – Complete History of Ethereum

Tags AI Arts, Artificial Intelligence, CLIP, DALL·E, DALL·E 2, DALL·E Mini, Diffusion, Future of AI Painting, OpenAI