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[Mirror] A Proof of Stake Design Philosophy

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Time Stamp: February 2, 2024 10:55 AM - Modified On: February 2, 2024 - Published By:
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Vitalik Buterin via the Vitalik Buterin Blog This is a mirror of the post at https://medium.com/@VitalikButerin/a-proof-of-stake-design-philosophy-506585978d51 Systems like Ethereum (and Bitcoin, and NXT, and Bitshares, etc) are a fundamentally new class of cryptoeconomic organisms — decentralized, jurisdictionless entities that exist entirely in cyberspace, maintained by a combination of cryptography, economics and social consensus. They are kind of like BitTorrent, but they are also not like BitTorrent, as BitTorrent has no concept of state — a distinction that turns out to be crucially important. They are sometimes described as decentralized autonomous

Crypto Chaos

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Time Stamp: May 10, 2023 6:28 AM - Modified On: May 10, 2023 - Published By:
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Despite the second-largest bank failure in US history, the Federal Reserve continued its interest rate hike strategy last week. This caused markets to react by pricing in continued monetary tightening, pushing back their expectations of rate decreases to 2024. Some have perceived this move as necessary to combat inflation, even if it comes at the cost of breaking the banking sector. Unfortunately, this sober outlook suggests that the rest of the year may be marked by more sideways action in the markets rather than a steady recovery. Meanwhile, in the

The AI Model to Combat Technology Biases in the Near Future

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Time Stamp: May 2, 2023 11:42 AM - Modified On: May 3, 2023 - Published By:
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Machines are incessantly getting smarter through the use of NLP, or natural language processing; however, there’s a flipside to that as well, where the convenience of AI-powered models, be they chatbots, virtual assistants, or content creation tools, cannot be ruled out altogether. Why should one feel that way? Well, most of the AI models have a biased approach to problem solving. However, with the help of TruthGPT, the future may offer some light on the capabilities of biased AI models, despite their ability to sow social discontent, promote cultural differences, and create

TruthGPT A Revolutionary Language Model Set to Change the Game

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Time Stamp: May 1, 2023 5:43 AM - Modified On: May 2, 2023 - Published By:
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In recent years, natural language processing (NLP) has become a buzzword in the world of technology. With the increasing demand for AI-powered chatbots, virtual assistants, and content creation tools, companies are investing heavily in developing more advanced NLP systems. However, with the help of TruthGPT, the future may offer some light on the capabilities of biased AI models, despite their ability to sow social discontent, promote cultural differences, and create barriers around a more friendly and inviting globalized civic society. The Fate So Far: The Rise of Artificial Intelligence Chatbots

Organized Chaos

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Time Stamp: November 5, 2022 11:01 AM - Modified On: November 5, 2022 - Published By:
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This week saw another round of interest rates hikes by central banks to try and control inflation. With all the talk of a potential pivot in monetary policy, interest rates continued their parabolic rise by 75 basis points in the UK, and the US. Initially the Federal Reserve’s announcement of a 0.75% interest rate increase caused markets to jump because this was the rise they’d been expecting and had already priced in. However, in the subsequent press conference the tone was more hawkish which caused the markets to drop a

Blockchain-Based App Wins UN Secretary-General’s Innovation & Sustainability Award

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Time Stamp: July 23, 2022 6:28 AM - Modified On: July 23, 2022 - Published By:
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July 23, 2022, New York - The UN Joint Staff Pension Fund (UNJSPF) partnered with the UN International Computing Center (UNICC) to launch a Digital Certificate of Entitlement (DCE) app to modernize the tracking and eligibility of UN retirees. This app allows retirees to use their smartphone, tablet, or another personal device to submit an electronic certificate of eligibility instead of a paper-based submission. The DCE uses cutting-edge biometric/facial recognition, blockchain, and global positioning technologies to track the eligibility of retirees. The DCE project was piloted in 2020 with retirees

Bitcoin’s Hashrate Slides 15% in 10 Days, Price and Difficulty Puts Pressure on BTC Miners

Source Node: https://news.bitcoin.com/bitcoins-hashrate-slides-15-in-10-days-price-and-difficulty-puts-pressure-on-btc-miners/
Time Stamp: January 10, 2022 6:30 PM - Modified On: January 10, 2022 - Published By:
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The price of bitcoin has been on a long losing streak since November 10, 2021, when the leading crypto asset tapped an all-time high at $69K per unit. During the last two weeks, bitcoin has shed more than 19% in value, and the network’s hashrate has dropped from over 200 exahash per second (EH/s) to 174 EH/s losing roughly 15% in ten days. Civil Unrest in Kazakhstan Leads to Hashrate Loss Speculation, Kazakhstan’s Bitcoin Miners Say Issues Did Not Affect Them This week the civil unrest in Kazakhstan caused a

XRPayNet – the World’s Most Diverse Payment Network, Bringing ‘Buy Now, Pay Later’ to the Crypto Industry

Source Node: https://news.bitcoin.com/xrpaynet-the-worlds-most-diverse-payment-network-bringing-buy-now-pay-later-to-the-crypto-industry/
Time Stamp: January 10, 2022 2:00 PM - Modified On: January 10, 2022 - Published By:
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PRESS RELEASE. XRPayNet is a cryptocurrency built on the XRP Ledger, with an upcoming global team focused on one goal: a globally adopted interface and ecosystem for payment settlements that is suitable for stores, businesses, peer to peer transactions and those who sell products and services. Whilst aiming to challenge existing technology such as Klarna, ClearPay/AfterPay. This will allow consumers to be able to ‘buy now, pay later’ which is an almost first in the entire crypto industry. The XRPayNet app currently under development promises just that, a world class

Kazakhstan Is Stabilizing, Government Claims as Crypto Miners Look to Future in Country

Source Node: https://news.bitcoin.com/kazakhstan-is-stabilizing-government-claims-as-crypto-miners-look-to-future-in-country/
Time Stamp: January 10, 2022 12:30 PM - Modified On: January 10, 2022 - Published By:
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The situation across Kazakhstan, hit by anti-government protests in the first week of the year, is normalizing, central authorities claim. The country’s massive crypto mining industry, which faced an internet blackout during civil unrest on top of power shortages, now hopes that the country will nevertheless remain an attractive location for miners. President Tokayev Has Nation Under Control After days of turmoil, the embattled administration of Kazakhstan’s President Kassym-Jomart Tokayev says it now has the country stabilized. Law enforcement agencies have retaken all administrative buildings that were attacked by protesters

Quentin Tarantino Sued for an Upcoming Auction of Pulp Fiction NFTs

Source Node: https://news.bitcoin.com/quentin-tarantino-sued-for-an-upcoming-auction-of-pulp-fiction-nfts/
Time Stamp: November 20, 2021 4:00 AM - Modified On: November 20, 2021 - Published By:
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Quentin Tarantino, the acclaimed film director, is being sued by Miramax, a Hollywood film producer and distributing company, due to the auction of a series of NFTs related to “Pulp Fiction,” one of the director’s most popular films. The conflict lies in the interpretation that Miramax makes from the initial contract between the parts, arguing that the sale of NFTs does not constitute a publication of any part of the script. Miramax Sues Quentin Tarantino Miramax, the Hollywood movie company, sued Quentin Tarantino, the acclaimed film director, for the upcoming

Floki Inu Cryptocurrency Ads Under Investigation in UK

Source Node: https://news.bitcoin.com/floki-inu-cryptocurrency-ads-under-investigation-uk/
Time Stamp: November 20, 2021 1:30 AM - Modified On: November 20, 2021 - Published By:
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The U.K.’s advertising authority has launched an investigation into advertisements for the cryptocurrency floki inu (FLOKI). The ads, titled “Missed Doge? Get Floki,” have appeared on London buses and the underground. The team behind the floki inu ad campaign says the advertisements are “legally cleared,” and the advertising authority’s action is “an attack against cryptocurrency and against the people’s freedom of choice — a clear attempt at censorship.” UK’s Advertising Authority Investigating Ads for Floki Inu Cryptocurrency The Advertising Standards Authority (ASA), the U.K.’s regulator of advertising, is investigating advertisements

Binance integrates Ethereum Layer 2 scaling solution, Arbitrum One

Source Node: https://ambcrypto.com/binance-integrates-ethereum-layer-2-scaling-solution-arbitrum-one/
Time Stamp: November 19, 2021 11:30 PM - Modified On: November 19, 2021 - Published By:
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Arbitrum One core network has now been fully integrated by Binance, the cryptocurrency firm announced earlier today. This has paved the way for Ether withdrawals on Arbitrum One Layer 2, which is a scaling solution for the Ethereum network. Arbitrum One is the beta mainnet of a layer-2 optimistic rollup protocol that enables off-chain Ethereum transactions that are faster and cheaper as compared to the Ethereum mainnet. Binance users can now deposit all ERC-20 tokens from the Ethereum network, with the Arbitrum side chain at lower costs, and all users