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AI-Infused Blockchain Ambient to ‘Replace Bitcoin,’ Says Co-Founder

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A new artificial intelligence-infused blockchain with Andreseen Horowitz’s backing is «ultimately designed as a replacement for Bitcoin,» according to its co-founder Travis Good.

The far-fetched claim is rooted in what Good prognosticates as unvarnished reality: Bitcoin’s encryption mechanisms are «getting really stale» and could be «completely obsolete within five years,» creating a business conundrum for the miners behind it.

«You’ve got people who’ve invested billions of dollars in hash power for securing a network in ASICs,» he told CoinDesk at this year’s ethDenver conference. «And the question is like, where do they all go?»

His answer is Ambient, a blockchain with deep capabilities in the AI space – the «future economy,» as Good puts it – that could become a «decentralized competitor to OpenAI.» The network operates on a proof-of-work mechanism with familiar appeal to bitcoin miners, he said, making it an easy switch.

«It’s a useful proof of work network, which we don’t think anyone has ever done well in crypto,» Good said.

Many crypto projects have attempted to fuse the two buzzy tech trends on the belief that blockchains and decentralized crowdsourcing can steer AI better toward delivering for humanity than singular, private corporations possibly could.

One of the biggest and best-funded is Bittensor. But Good claims the market leader is woefully deficient because it doesn’t actually run AI models on blockchain, despite its original intention to «be this global computer.» His alternative, Ambient, cooks AI into its core.

Whether Bitcoin miners – let alone users – would actually embrace a radically new and different network likely hinges on Ambient’s economic success. Good seeks for Ambient to deliver super-intelligent AI fast, cheap, and critically, in the open, so that users get the answers they paid for.

While Ambient’s security rhymes with Bitcoin’s, the network itself runs like Solana.

Ambient raised $7.2 million in seed funding from a16z’s crypto accelerator program as well as Delphi Digital, one of the VC world’s hungriest funds for crypto-AI crossover tech.

«Everyone in crypto is currently using centralized AI to power their apps, to power their frontend,» said Alex Golding, a venture associate at Delphi. He thinks that’s a big issue because it deprives users of understanding what the models are trained on and exposes them to getting hoodwinked with answers derived from inferior models.

«Verified inference» by miners (the heart of their rewards mechanism) acts as a provenance fact-checker, ensuring that answers spat out by Ambient originate from the model people paid to use.

«If you don’t have verified inference, you’re guaranteed to get rugged,» Good said, adding a hyperbolic warning: «Nation state actors are going to poison your model and just do fun stuff, like we saw with Lazarus,» North Korea’s hackers.

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U.S. SEC Chair Says Working on ‘Innovation Exemption’ for DeFi Platforms

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The U.S. Securities and Exchange Commission is working on policy to exempt decentralized finance (DeFi) platforms from regulatory barriers, said Chairman Paul Atkins.

Software developers building DeFi tools have no business being blamed for how they’re used, Atkins and other SEC Republicans contended at the final of five crypto roundtables that have been held at the agency since the leadership turnover under President Donald Trump.

The chairman told a roundtable of DeFi experts on Monday that he’s directed the SEC staff to look into changes to agency rules «to provide needed accommodation for issuers and intermediaries to seek to administer on-chain financial systems.» Atkins called that potential exemptive relief «an innovation exemption» that would let entities under SEC jurisdiction bring on-chain products and services to market «expeditiously.»

«Many entrepreneurs are developing software applications that are designed to function without administration by any operator,» Atkins said in remarks at the event. While he noted the technology enabling private peer-to-peer transactions can «sound like science fiction,» he said «blockchain technology makes possible an entirely new class of software that can perform these functions without an intermediary.»

«We should not automatically fear the future,» Atkins said.

DeFi is a subsection of the broader cryptocurrency industry that seeks to recreate financial tools and products with code that replaces the role of traditional intermediaries such as banks and brokerages.

The Republican members of the commission — currently outnumbering the Democrat 3-1 — have been eager to move forward with crypto-friendly policy. While DeFi is often given short shrift in policy discussions that focus more on regulation of the higher-volume industry of crypto exchanges, brokers and custodial services. Though DeFi developers have faced years of distrust from U.S. government agencies, Republicans now in power are seeking to lighten those pressures.

«The SEC must not infringe on First Amendment rights by regulating someone who merely published code on the basis that others use that code to carry out activity that the SEC has traditionally regulated,» said Commissioner Hester Peirce, who has led the SEC Crypto Task Force established this year. However, she also noted that «centralized entities can’t avoid regulation simply by rolling out the decentralized label.»

Erik Voorhees, the founder of decentralized exchange ShapeShift, joked that when he got his first SEC subpoena 12 years ago, he didn’t think he’d be invited to speak at the agency years later.

«I appreciate the change of tone and the change of stance for the commission,» he said. «I think that’s absolutely a positive for America.»

Read More: U.S. SEC’s Crypto Trading Roundtable Delves Into Easing Path for Platforms

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Plasma’s XPL Token Sale Attracts $500M as Investors Chase Stablecoin Plays

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Plasma, a crypto startup developing a blockchain optimized for stablecoins, attracted $500 million in deposits for its token sale on Monday — 10 times more than originally planned.

The fundraising cap was filled in five minutes as investors scrambled to earn an allocation for the token distribution, according to blockchain data from Arkham Intelligence. The ceiling was lifted from $250 million, which had already been increased from a $50 million original target announced just two weeks ago.

Over 1,100 wallets participated in the sale of Plasma’s XPL token, with a median allocation of roughly $35,000, the company said in an X post. The offering was conducted on Sonar, a public token sale platform built by Echo, a crypto-focused private fundraising startup led by prominent investor Cobie.

The outsized demand underscores surging investor interest in stablecoins — cryptocurrencies pegged to traditional currencies like the U.S. dollar — and the infrastructure that supports them. Stablecoins have become a dominant force in crypto, with total supply surpassing $250 billion, and are increasingly used for everyday finances like payments, remittances and savings.

While Bitcoin BTC remains the oldest and most secure blockchain, most stablecoin activity today occurs on newer networks such as Ethereum, Tron, and Solana. Plasma aims to bring native stablecoin utility to Bitcoin by building a sidechain fully compatible with the Ethereum Virtual Machine (EVM), the software standard that underpins much of decentralized finance.

The team says the Plasma chain will address key challenges faced by stablecoins on existing blockchains — including high fees and scalability limits — by leveraging Bitcoin’s security and enabling zero-fee transactions for Tether’s USDT USDT.

Plasma’s fundraising follows a string of market signals pointing to rising appetite for stablecoin exposure. Just last week, Circle (CRCL), issuer of the $60 billion USDC stablecoin, completed a blockbuster public market debut, with shares surging over $110 from a $31 IPO price.

«Circle up another 20% at the open and Plasma’s $500M public token sale sold out in the first block. The people want exposure to stablecoins,» crypto analyst Will Clemente posted.

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Paraguay President’s X Account Hacked, Shares Bitcoin Scam

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The X account of the President of Paraguay, Santiago Peña, was hacked on Monday.

The account posted that Paraguay was making bitcoin BTC legal tender, constituting a bitcoin reserve and issuing bitcoin bonds. It also invited investors to donate to a bitcoin wallet.

«Investors: your investment today will determine the scale of this rollout. Secure your stake in Bitcoin,» the message said in English. Peña’s previous posts were all written in Spanish.

The official page of the Presidency of Paraguay posted on X that the bitcoin-related information was false and that a non-authorized person may have accessed the account.

Paraguay has become home to large bitcoin mining operations, especially belonging to HIVE (HIVE). Unlike El Salvador, however, it has yet to establish a proper crypto regulatory framework.

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