Here’s what’s happening in Web3 and AI at a glance.
Web3
Here’s what’s happening in Web3 in 1 min.
Suspected Rug Pull in zkSync Ecosystem
1️⃣The Gemholic project on zkSync is suspected of a rug pull, allegedly stealing $3.5 million from investors. Concerns surround verification service SolidProof’s silence on the matter and its potential impact on user trust.
Bitcoin Price Stabilises After Volatile Week
2️⃣Bitcoin price swings subsided over the weekend following a turbulent week. Initial volatility stemmed from US employment data and worsened due to reactions to an altcoin rout triggered by a livestream, but analysts see potential buying opportunities based on future Federal Reserve actions.
Friend.tech Announces Own Blockchain, Raising Questions
3️⃣Decentralised social media platform Friend.tech’s decision to develop its own blockchain, Friendchain, has sparked user concerns. Questions surround the value proposition and potential gas fee hikes compared to its current low-cost solution. The project also faces scrutiny regarding recent token price fluctuations.
Arbitrum Pours Millions into Blockchain Gaming
4️⃣The Arbitrum Foundation is allocating $215 million worth of tokens to foster game development on its network through the Gaming Catalyst Program. This initiative aims to attract developers and players, boosting Arbitrum’s adoption within the gaming space.
Ronin Forge: Launching the Next Wave of Web3 Games
5️⃣Sky Mavis, creator of the Ronin sidechain, is launching Ronin Forge — a program to empower web3 game studios. Up to six studios will receive grants, access to Ronin’s infrastructure, and a chance to tap into its active gaming community.
Bybit Opens Doors to Overseas Chinese Citizens
6️⃣Bybit, a Dubai-based crypto exchange, is now welcoming Chinese citizens living abroad to its platform. This policy shift allows them to sign up using Chinese IDs or passports. However, Bybit remains inaccessible from mainland China due to IP restrictions.
OKX Activity Spikes Bitcoin Transaction Fees
7️⃣Bitcoin transaction fees are surging due to a surge of internal transactions by OKX exchange. The activity has clogged the network with over 333,000 unconfirmed transactions. While OKX benefits from faster processing, the high volume pushes fees up for all users.
Donald Trump Aims to Be Crypto President
8️⃣As part of his presidential campaign for the upcoming elections, Donald Trump is aiming to position himself as a crypto-positive candidate. He promises to overturn the crusade on crypto by current president Joe Biden and SEC head Gary Gensler if he takes office.
AI
Africa Gets AI Training Boost
1️⃣The African Development Bank and Intel have partnered to equip 3 million Africans and 30,000 government officials with advanced AI skills. This initiative aims to boost economic growth, improve productivity, and allow Africa to play a more active role in AI development. Training will focus on AI, robotics, and data science.
Apple Unveils “Apple Intelligence”
2️⃣Apple is entering the AI race with “Apple Intelligence,” a lineup of AI-powered products and services. It will use a hybrid approach, with some AI tasks running on-device and others relying on the cloud. Siri is also getting a revamp, with capabilities for following complex instructions and improved personalisation.
Alibaba Releases Powerful Open-Source AI Model
3️⃣Alibaba’s Qwen2 is a new open-source AI model being hailed as the best currently available. It can handle complex tasks and outperforms competitors in key benchmarks. Qwen2 comes in various sizes and is trained on a massive dataset, including 27 languages.
Deepfakes Pose New Crypto Crime Threat
4️⃣A new report by Elliptic highlights the rise of AI-driven crypto crimes. Deepfake videos impersonating celebrities are being used to promote fraudulent investment schemes. Scammers are also employing deepfakes on social media to trick users into handing over their funds.
Tech Giants Mute AI on Elections
5️⃣To avoid spreading misinformation, Google and Microsoft are preventing their AI models from discussing information about the 2024 US presidential election. Other popular AI models, however, are still able to answer election-related questions, which highlights the complexities of managing AI and the potential for bias in its outputs.
US Treasury Considers AI Risks and Opportunities
6️⃣The US Treasury Department is preparing for the impact of AI on financial stability. Secretary Yellen called for public comment on the potential risks and opportunities posed by AI in finance. While AI offers benefits like improved forecasting and customer service, concerns include bias in AI models.
DuckDuckGo Launches Private AI Chat Service
7️⃣Web browser DuckDuckGo has launched a new service, DuckDuckGo AI Chat, which allows users to interact with popular AI chatbots privately and anonymously. User data is not used to train models, and queries appear to originate from DuckDuckGo, protecting user anonymity.
Futurist Believes AI Will Bring About Immortality
8️⃣Futurist Jose Luis Cordeiro believes that AI will accelerate the pace at which humanity achieves immortality, with the postulated date set for 2030. He backs his prediction by stating that AI is able to sieve through large amounts of data related to the human genome, allowing us to identify the genetic sequence that causes permanent ageing.
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