Aurelia Butler

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    in Cryptocurrency

    Polkadot Decoded Asia: A major Web 3.0 conference in Singapore

    Polkadot Decoded Asia is a key event for the Polkadot community, focusing on the vibrant Asian market while drawing a global audience. It gathers developers, investors, enthusiasts, and industry leaders to explore the latest in blockchain advancements.Attendees can look forward to a diverse program with talks, panels, workshops, demos, fireside chats, and more. The event will span five stages, with a networking area, dedicated breakout rooms, and showcase stations where ecosystem teams and builders can promote their tech offerings.The conference will feature high-level speakers, including Polkadot founder Dr. Gavin Wood, and key figures from the Web3 Foundation and Parity Technologies. The lineup also includes industry leaders from Alibaba (NYSE:BABA) Cloud, Pantera Capital, and more.Polkadot Decoded Asia 2024 is organized in collaboration with MetaEra and sponsored by Google (NASDAQ:GOOGL) Cloud. The event is expected to attract over 100 speakers and 2,000 participants. It will include side activities like NFT claims and a DJ party, providing a platform for networking and knowledge exchange.The conference will take place during the lively Singapore Token2049 week, offering insights into the latest blockchain advancements within the Polkadot ecosystem.Despite market challenges, developer activity in the Polkadot ecosystem remains strong. Per its recent statistics, the network now hosts 29,917 repositories, with weekly commits exceeding 5,500. Around 900 developers contribute each week as well, keeping the ecosystem’s momentum active.The upcoming Polkadot Mobile App, teased at Polkadot Decoded by Parity CEO Bjorn Wagner, is expected to roll out to select users in September 2024.The app will reportedly offer new features like onboarding without passwords or seed phrases, the ability to fund wallets with DOT or stablecoins, and the option to make purchases at over 1 million stores, with staking functionality on the way soon. More

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    in Cryptocurrency

    Bitcoin (BTC) 10 to 1 Split: Peter Brandt Joins Newbie Trolling

    A hard fork or network-wide consensus would be needed for a split, which would be practically impossible given Bitcoin’s decentralized structure. Nevertheless, the post was rapidly exposed as a joke because BTC obviously does not have a centralized board.By tagging Tuur Demeester, a passionate Bitcoin maximalist renowned for his unshakable devotion to Bitcoin’s fundamental principles, well-known trading veteran Peter Brandt added some fuel to the fire. In a lighthearted gesture to the ridiculousness of the proposal, Brandt asked for opinions. For a number of reasons, the idea of a Bitcoin split is absurd. First off, because Bitcoin is a decentralized network, such a change would require broad agreement from miners, developers and nodes.The value proposition of Bitcoin as a scarce deflationary asset, which is essential to its allure and usefulness, would also be drastically altered by changing its supply in this way. Since failing to break through the $70,000 barrier, the price of Bitcoin has been fluctuating recently, trading at $63,757. There has been a small retreat as the price action indicates that traders are not as confident.One way or another, a little trolling for Bitcoin newbies never hurts, as it quite often pushes people into educating themselves about the foundations of the digital assets market.This article was originally published on U.Today More

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    in Cryptocurrency

    Warden announces the Artificial Intelligence Blockchain Interface (AIBI)

    Warden, the sovereign AI execution network, announced the alpha release of its new artificial intelligence product – the Artificial Intelligence Blockchain Interface (NASDAQ:TILE) (AIBI). AIBI brings AI on-chain with an intuitive interface for developers to integrate AI into their applications. Inspired by proof-of-computation and computational pipelines, AIBI allows inference endpoints to create cryptographic proofs that verify that an AI model produced a specific prediction. These proofs are then verified on Wardens’ blockchain through a cutting-edge consensus mechanism, ensuring AI outputs are not just delivered, but can be trusted. AIBI enables a new class of AI applications. To kickstart this new era, Warden is organizing a series of hackathons throughout Q4 2024, designed to inspire and reward developers who create groundbreaking AI-driven experiences using AIBI. Whether it’s dynamic pricing algorithms, sophisticated matching engines, or personalized recommendation systems, the potential applications are limitless. Since its inception in March 2024, Warden has experienced exponential growth, now processing over one million transactions per month. Warden’s sovereign AI execution engine connects to more than 100 blockchains, enabling any smart contract, protocol, or platform to leverage AI predictions. Warden is set to pioneer a new category of applications at the intersection of AI and web3, while also extending its services to web2 AI use cases.For more information, users and builders can visit wardenprotocol.org, or can follow on X at @wardenprotocol.ContactPRAndrei S.Warden Labs [email protected] article was originally published on Chainwire More

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    in Cryptocurrency

    Crypto on- and off-chain metrics remain subdued: Citi

    Search interest, a proxy for retail engagement, has dropped significantly. After a brief resurgence, Google search volumes for both Bitcoin and Ethereum have retreated to near-recent lows.Network activity, a key measure of the underlying blockchain utilization, has also been declining. Ethereum, despite seeing a peak in activity following the recent Dencun upgrade, has experienced a sharp drop in transaction fees and active addresses. Despite this, unique daily users on the Ethereum network are up around 34% across layer-1 and layer-2 chains compared to the 2023 averages. Meanwhile, the Bitcoin network bottomed in June, “though it still sits ~29% below its 2023 average,” Citi notes.Another concerning sign is the low futures funding rates, which briefly dipped into negative territory in August. This is in addition to declining Bitcoin volumes after a sharp rise during the early August risk-off episode.The decline in trading activity underscores the broader trend of reduced demand across the crypto ecosystem. Spot ETFs for both Bitcoin and Ethereum have seen net outflows over the past month. Analysts believe these subdued metrics may persist until there is greater clarity on the broader economic outlook, particularly concerning a potential soft landing or further guidance from the Federal Reserve on monetary policy.In contrast, stablecoin market caps are continuing to rise, showing resilience despite broader market downturns. Hash rates have also been increasing, analysts highlight, rebounding after some volatility following the recent halving. More

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    in Economy

    OpenAI supports California AI bill requiring ‘watermarking’ of synthetic content

    SAN FRANCISCO (Reuters) – ChatGPT developer OpenAI is supporting a California bill that would require tech companies to label AI-generated content, which can range from harmless memes to deepfakes aimed at spreading misinformation about political candidates.The bill, called AB 3211, has so far been overshadowed by attention on another California state artificial intelligence (AI) bill, SB 1047, which mandates that AI developers conduct safety testing on some of their own models. That bill has faced a backlash from the tech industry, including OpenAI, which has Microsoft (NASDAQ:MSFT) as a backer.California state lawmakers attempted to introduce 65 bills touching on AI this legislative season, according to the state’s legislative database, including measures to ensure all algorithmic decisions are proven unbiased and protect the intellectual property of deceased individuals from exploitation by AI companies. Many of the bills are already dead.San Francisco-based OpenAI believes that for AI-generated content, transparency and requirements around provenance such as watermarking are important, especially in an election year, according to a letter sent to California State Assembly member Buffy Wicks, who authored the bill.With countries representing a third of the world’s population having polls this year, experts are concerned about the role AI-generated content will play, and it has already been prominent in some elections, such as in Indonesia.”New technology and standards can help people understand the origin of content they find online, and avoid confusion between human-generated and photorealistic AI-generated content,” OpenAI Chief Strategy Officer Jason Kwon wrote in the letter, which was reviewed by Reuters.AB 3211 has already passed the state Assembly by a 62-0 vote. Earlier this month it passed the senate appropriations committee, setting it up for a vote by the full state Senate. If it passes by the end of the legislative session on Aug. 31, it would advance to Governor Gavin Newsom to sign or veto by Sept. 30. More

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    Bitcoin price today: flat near $64k as rebound cools, rate cuts in focus

    Broader crypto prices also retreated after logging strong gains since Friday, following comments from Federal Reserve Chair Jerome Powell that the bank was gearing up to cut interest rates. Weakness in the dollar, which sank to a 13-month low, also aided crypto prices.Bitcoin fell 0.5% to $63,737.0 by 09:08 ET (13:08 GMT). But further gains in the token were somewhat stymied by persistent strength in the Japanese yen. A sharp appreciation in the yen earlier this month had rattled risk-driven markets and also unwound a carry trade favoring speculative assets such as crypto. The world’s largest cryptocurrency rose sharply in the past two days following Powell’s comments, which suggested that an interest rate cut was imminent. Markets are now positioning for a September interest rate cut, but are split over a 25 or 50 basis point reduction, according to CME Fedwatch.PCE price index data- which is the Fed’s preferred inflation gauge- is due this Friday, and is likely to determine the path of any rate cuts. Lower rates bode well for speculative assets such as crypto, given that they free up more liquidity for investing in the sector. Independent presidential candidate Robert. F. Kennedy Jr, who has maintained a pro-crypto platform, suspended his campaign and threw his weight behind Republican nominee Donald Trump, who has also maintained a pro-crypto stance. The move sparked gains in crypto markets amid increased speculation that Trump could clinch a victory against Democratic nominee Kamala Harris- a scenario that presents friendlier regulations for crypto.Trump has maintained a largely pro-crypto stance in his campaigning, and had recently appeared as a keynote speaker at the Bitcoin conference. Among broader crypto markets, most altcoins retreated as a weekend rally cooled and as markets sought more cues on U.S. interest rate cuts. World no.2 token Ether slipped nearly 1% to $2,732.90, while SOL, XRP and ADA moved in a flat-to-low range.MATIC lost 3.8%, while among meme tokens, DOGE fell 1.7%.Crypto demand has notably “dried up in recent weeks,” Citi analysts said in a Friday note.Spot BTC and ETH ETFs have experienced net outflows over the past month, which has coincided with lower search interest and subdued network activity.Moreover, weaker crypto demand is evident in futures funding rates, which briefly dipped into negative territory during August.The analysts suggest that ETF flows may continue to struggle until there is greater clarity on the soft-landing versus hard-landing outcome for the US economy. However, they add that “should soft-landing conviction rise, we would likely start to see flows pick up.”As of August 22, spot Bitcoin ETFs have recorded net inflows of $17.3 billion, accounting for nearly 40% of the variation in weekly Bitcoin price movements since their launch in January. In contrast, ETH ETFs, which were introduced in July, have experienced net outflows of $460 million, Citi notes. Ambar Warrick contributed to this report.  More

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    in Economy

    French far-right oppose leftist prime minister, complicating calculus for Macron

    PARIS (Reuters) – Leaders from France’s far-right National Rally said on Monday their party will block any prime ministerial candidate from the leftist New Popular Front, narrowing President Emmanuel Macron’s options to resolve the country’s political crisis.Marine Le Pen and Jordan Bardella, the political tag team that runs the National Rally, met with Macron on Monday as he seeks to unlock the political deadlock caused by July’s inconclusive snap legislative election which he called. After their one-hour meeting, Bardella said the New Popular Front – a broad alliance of parties ranging from the moderate Socialists to Jean-Luc Melenchon’s far-left France Unbowed – was a “danger” for the country.Bardella said his camp would immediately call a no-confidence vote against any leftist premier. “The New Popular Front in its programme, in its movements, as well as the personalities who embody it represents a danger to public order, civil peace and obviously for the economic life of the country,” Bardella told reporters. “We intend to protect the country from a government that would fracture French society.”A Macron aide said the president could name a prime minister by the end of this week, but it remains to be seen if the person he picks – someone with the broadest possible appeal – will win approval by lawmakers. If not, Macron will have to go back to the drawing board, deepening the political crisis. No grouping emerged from the snap election with a majority, with the vote evenly split between the New Popular Front, Macron’s centrist bloc and the National Rally. The New Popular Front won more votes than any other party, and has argued that its candidate, a little known civil servant called Lucie Castets, should be named prime minister.Castets told Macron on Friday that the left has the right to form the next government. Macron has ignored the New Popular Front’s nomination, and a source close to him said he believed the balance of power lies more with the centre or centre-right. Some possible candidates that Macron is mulling include a conservative regional president, Xavier Bertrand, and former Socialist Prime Minister Bernard Cazeneuve, sources have said. French media recently mentioned Karim Bouamrane, the Socialist mayor of an impoverished Paris suburb, as another possible name.Le Pen suggested Macron could call a referendum to chart a path out of the chaos, and said she was opposed to a so-called “technical” government of apolitical technocrats, saying “there are only political governments hiding behind technical names.” More

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    in Economy

    Australian employees now have the right to ignore work emails, calls after hours

    SYDNEY (Reuters) – Is your boss texting you on the weekend? Work email pinging long after you’ve left for home? Australian employees can now ignore those and other intrusions into home life thanks to a new “right to disconnect” law designed to curb the creep of work emails and calls into personal lives.The new rule, which came into force on Monday, means employees, in most cases, cannot be punished for refusing to read or respond to contacts from their employers outside work hours.Supporters say the law gives workers the confidence to stand up against the steady invasion of their personal lives by work emails, texts and calls, a trend that has accelerated since the COVID-19 pandemic scrambled the division between home and work.”Before we had digital technology there was no encroachment, people would go home at the end of a shift and there would be no contact until they returned the following day,” said John Hopkins, an associate professor at Swinburne University of Technology. “Now, globally it’s the norm to have emails, SMS, phone calls outside those hours, even when on holiday.”Australians worked on average 281 hours of unpaid overtime in 2023, according to a survey last year by the Australia Institute, which estimated the monetary value of the labour at A$130 billion ($88 billion).The changes add Australia to a group of roughly two dozen countries, mostly in Europe and Latin America, which have similar laws. Pioneer France introduced the rules in 2017 and a year later fined pest control firm Rentokil Initial 60,000 euros ($66,700) for requiring an employee to always have his phone on.Rachel Abdelnour, who works in advertising, said the changes would help her disconnect in an industry where clients often have different working hours.”I think it’s actually really important that we have laws like this,” she told Reuters. “We spend so much of our time connected to our phones, connected to our emails all day, and I think that it’s really hard to switch off as it is.”REFUSALS MUST BE REASONABLETo cater for emergencies and jobs with irregular hours, the rule still allows employers to contact their workers, who can only refuse to respond where it is reasonable to do so. Determining whether a refusal is reasonable will be up to Australia’s industrial umpire, the Fair Work Commission (FWC), which must take into account an employee’s role, personal circumstances and how and why the contact was made.It has the power to issue a cease and desist order and, failing that, levy fines of up A$19,000 for an employee or up to A$94,000 for a company.But the Australian Industry Group, an employer group, says ambiguity about how the rule applies will create confusion for bosses and workers. Jobs will become less flexible and in doing so slow the economy, it added.”The laws came literally and figuratively out of left field, were introduced with minimal consultation about their practical effect and have left little time for employers to prepare,” the group said on Thursday. The president of the Australian Council of Trade Unions Michele O’Neil said the caveat built into the law meant it won’t interfere with reasonable requests. Instead, it will stop workers paying the price for poor planning by management, she said.She cited an unidentified worker who finished a shift at midnight, only to be texted four hours later and told to be back at work by 6 a.m.”It’s so easy to make contact, common sense doesn’t get applied anymore,” she said. “We think this will cause bosses to pause and think about whether they really need to send that text or that email.”($1 = 0.8992 euros)($1 = 1.4723 Australian dollars) More