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Web 3.0 represents Read-Write-Own
It is supposed to give power back to the users in the form of ownership
What do you think?
#crypto2023 #Data
It is supposed to give power back to the users in the form of ownership
What do you think?
#crypto2023 #Data
Instruxi (IX) announced its partnership and integration with Space and Time (SxT), a cutting-edge data warehouse that secures low-level data management tasks while maintaining the performance standards demanded by the industryâs most critical workloads.
#blockchain #Data #crypto
#blockchain #Data #crypto
it will go crazy
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Streamr Announces the Start of Testnet 2 for the Decentralized Streamr Network 1.0 â Paving the Way for Next-Gen Data Broadcasting.docx
SPONSORED POST*
After the successful launch of Testnet 1, paving the way for the upcoming Streamr Network 1.0 milestone, Streamr is excited to announce the start of Testnet 2! This second incentivized testnet, starting on 21st December and concluding on 8th January 2024, will see a reward pool of 1.5 million DATA tokens (approx. $104k USD as of 21/12/24) available for node Operators to bootstrap a next-generation decentralized data broadcast network.Â
Key dates and rewards:
Testnet 1 (completed): 5th December â 12th December (Reward Pool: 1 Million DATA ($69k))Â
Testnet 2: 21st December â 8th January (Reward Pool: 1.5 Million DATA ($104k))
Testnet 3: 15th January â 29th January (Reward Pool: 2.5 Million DATA ($173k))
Streamr 1.0 Official Release: February 2024
How to participate in Testnet 2
As with Testnet 1, to earn a share of the DATA rewards, participants will either need to download the latest version of the Streamr Node and become an Operator, or simply delegate their DATA tokens to a reliable Operator.
An Operatorâs nodes follow the protocol rule of properly forwarding messages to other connected nodes with good uptime and sufficient hardware resources to handle the traffic of the available incentivized streams. Delegators support these operations by providing liquidity in the form of DATA tokens.
Stream Sponsorships are smart contracts that release funds over time to Operators (node runners). This system mirrors service level agreements (SLAs) in traditional networks, ensuring reliable data distribution. The amount of DATA tokens the Operator stakes on the Sponsorship determines the size of their share of the token flow.Â
Read more on how the various roles fit together in this blog.Â
Testnet 2 details
Testnet 2 will be funded with 1.5 million DATA tokens ($104k). These stream Sponsorships will run until the end of Testnet 2, which finishes on 8th January 2024. Node Operator penalties will stay at the same low level as in Testnet 1.
Next-gen use cases to unlock in 1.0
The 1.0 milestone marks the culmination of the 2017 roadmap, unlocking the peer-to-peer market forces between Sponsors and Operators so that distribution is paid for with the currency of the Streamr NetworkâDATA. This makes the Network fully decentralized, production-ready, and paves the way for the team to explore some exciting new use cases:
DePIN
The 1.0 release will make the Streamr Network better positioned to enhance the data broadcasting capability of Decentralized Physical Infrastructure Networks (DePINs). As DePINs move away from centralized data centers towards a network of individual contributors, the Streamr Networkâs serverless, secure, and scalable design shows promise to align and offer a platform that helps DePINs to progressively decentralize their tech stack.
Decentralized AI
Streamr also has the potential to serve as a neutral data layer, providing AI with reliable, tamperproof access to real-time data streams. This is crucial for AI reliability, development and ensuring transparency and safety in AI operations. The Streamr Network might further be deployed in communication and coordination between AI Models. These models could gather and share real-time insights amongst each other to level up their collective intelligence. Thereâs a lot to be explored, and with concerns about the future dangers of AI, verifiable communication through neutral and decentralized networks such as Streamr show promise to contribute towards the mainstream adoption of AI in our everyday lives.Â
Decentralized video streaming
Behind closed doors (for now at least) Streams has been testing the scalability and stability of decentralized live video feeds. Live video streaming with a P2P protocol such as Streamr may offer a path to eliminate the need for centralized intermediaries used today to distribute content around the world. The Streamr protocol allows the live video feed consumers to become the video feedâs distribution pipeline, which could make for a more efficient, greener and scalable distribution mechanism.
Earlier this year Streamr streamed the MapMetrics bitcoin live feed directly from YouTube. The team promises to have more to share on this track in the coming weeks.
Get started with Testnet 2
Streamr invites users to join this journey towards a fully decentralized data economy. Users can prepare nodes to claim a share of the remaining 5 million DATA tokens and be a part of the future of decentralized real-time data.
For support, feedback, and updates, users can join the Streamr Discord community, focusing on the #â testnet-general and #testnet-announcements channels.
About Streamr
Streamr is building the real-time data protocol of the decentralized web. This includes a scalable, low-latency and secure P2P Network for data broadcasting, delivery, and exchange. As part of the vision, Streamr has built The Hubâa dApp that champions open data to help DePin, AI, and Web3 builders decentralize their tech stack with real time data flows. The Streamr project was started by real-time data veterans with backgrounds in algorithmic trading and finance markets.Â
*This article was paid. Cryptonomist did not write the article or test the platform.
After the successful launch of Testnet 1, paving the way for the upcoming Streamr Network 1.0 milestone, Streamr is excited to announce the start of Testnet 2! This second incentivized testnet, starting on 21st December and concluding on 8th January 2024, will see a reward pool of 1.5 million DATA tokens (approx. $104k USD as of 21/12/24) available for node Operators to bootstrap a next-generation decentralized data broadcast network.Â
Key dates and rewards:
Testnet 1 (completed): 5th December â 12th December (Reward Pool: 1 Million DATA ($69k))Â
Testnet 2: 21st December â 8th January (Reward Pool: 1.5 Million DATA ($104k))
Testnet 3: 15th January â 29th January (Reward Pool: 2.5 Million DATA ($173k))
Streamr 1.0 Official Release: February 2024
How to participate in Testnet 2
As with Testnet 1, to earn a share of the DATA rewards, participants will either need to download the latest version of the Streamr Node and become an Operator, or simply delegate their DATA tokens to a reliable Operator.
An Operatorâs nodes follow the protocol rule of properly forwarding messages to other connected nodes with good uptime and sufficient hardware resources to handle the traffic of the available incentivized streams. Delegators support these operations by providing liquidity in the form of DATA tokens.
Stream Sponsorships are smart contracts that release funds over time to Operators (node runners). This system mirrors service level agreements (SLAs) in traditional networks, ensuring reliable data distribution. The amount of DATA tokens the Operator stakes on the Sponsorship determines the size of their share of the token flow.Â
Read more on how the various roles fit together in this blog.Â
Testnet 2 details
Testnet 2 will be funded with 1.5 million DATA tokens ($104k). These stream Sponsorships will run until the end of Testnet 2, which finishes on 8th January 2024. Node Operator penalties will stay at the same low level as in Testnet 1.
Next-gen use cases to unlock in 1.0
The 1.0 milestone marks the culmination of the 2017 roadmap, unlocking the peer-to-peer market forces between Sponsors and Operators so that distribution is paid for with the currency of the Streamr NetworkâDATA. This makes the Network fully decentralized, production-ready, and paves the way for the team to explore some exciting new use cases:
DePIN
The 1.0 release will make the Streamr Network better positioned to enhance the data broadcasting capability of Decentralized Physical Infrastructure Networks (DePINs). As DePINs move away from centralized data centers towards a network of individual contributors, the Streamr Networkâs serverless, secure, and scalable design shows promise to align and offer a platform that helps DePINs to progressively decentralize their tech stack.
Decentralized AI
Streamr also has the potential to serve as a neutral data layer, providing AI with reliable, tamperproof access to real-time data streams. This is crucial for AI reliability, development and ensuring transparency and safety in AI operations. The Streamr Network might further be deployed in communication and coordination between AI Models. These models could gather and share real-time insights amongst each other to level up their collective intelligence. Thereâs a lot to be explored, and with concerns about the future dangers of AI, verifiable communication through neutral and decentralized networks such as Streamr show promise to contribute towards the mainstream adoption of AI in our everyday lives.Â
Decentralized video streaming
Behind closed doors (for now at least) Streams has been testing the scalability and stability of decentralized live video feeds. Live video streaming with a P2P protocol such as Streamr may offer a path to eliminate the need for centralized intermediaries used today to distribute content around the world. The Streamr protocol allows the live video feed consumers to become the video feedâs distribution pipeline, which could make for a more efficient, greener and scalable distribution mechanism.
Earlier this year Streamr streamed the MapMetrics bitcoin live feed directly from YouTube. The team promises to have more to share on this track in the coming weeks.
Get started with Testnet 2
Streamr invites users to join this journey towards a fully decentralized data economy. Users can prepare nodes to claim a share of the remaining 5 million DATA tokens and be a part of the future of decentralized real-time data.
For support, feedback, and updates, users can join the Streamr Discord community, focusing on the #â testnet-general and #testnet-announcements channels.
About Streamr
Streamr is building the real-time data protocol of the decentralized web. This includes a scalable, low-latency and secure P2P Network for data broadcasting, delivery, and exchange. As part of the vision, Streamr has built The Hubâa dApp that champions open data to help DePin, AI, and Web3 builders decentralize their tech stack with real time data flows. The Streamr project was started by real-time data veterans with backgrounds in algorithmic trading and finance markets.Â
*This article was paid. Cryptonomist did not write the article or test the platform.
âȘïžGoldman Sachs will standardize Crypto data for Institutional Investors.
#crypto2023 #crypto #Data #goldmansachs
#crypto2023 #crypto #Data #goldmansachs
Aimedis x PREPAiRE
PREPAiREÂ is leveraging advanced machine learning techniques to innovate in the field of drug discovery and personalized medicine. Hereâs a simplified summary of what they are doing:
Advanced Algorithm Use: The company is using Convolutional Deep Neural Networks (CNN) and Generative Adversarial Networks (GANs), both of which are complex machine learning models. CNNs are primarily used in pattern recognition within images, while GANs can generate new data that resembles the input data.
Chemical and Biological Modeling: With these algorithms, PREPAiRE is creating models that can identify the interactions between proteins and other substances (ligands), generate molecular structures with desired properties, and prepare synthetic data for drug discovery and personalized treatment. These models could potentially streamline the process of finding viable drug candidates.
Precision Medicine: The company is also working on integrating whole-genome sequencing with deep phenotyping to create a comprehensive view of a patientâs disease profile. This could enable more precise and effective treatment plans.
CRISPR and IPS Technologies: The utilization of advanced technologies such as CRISPR (a gene-editing tool) and IPS (induced pluripotent stem cells, which are a type of cell that can be guided to become any type of cell in the body) can establish new approaches for disease treatment and prevention.
Platform Integration: PREPAiREâs platform aims to combine prediction done in silico (performed on computer or via computer simulation) with high-throughput wet-lab validation, which means testing these predictions in a lab environment. This iterative cycle of prediction and validation allows for continuous improvements and increases in efficiency, accuracy, and reliability.
In essence, PREPAiRE is pushing the boundaries of personalized medicine by combining advanced technologies and machine learning techniques to predict and validate effective treatments at an individual level. This could potentially revolutionize the drug discovery process and the way we approach disease treatment and prevention.
What does the collaboration look like?
The first part of the collaboration combines an Avalon representation of Prepaire to visualize on different services and procedures down to a genetic level. The information from population scale data, cell based disease models and predicitve insights will be a first part in the usage of the Aimedis NFT data marketplace to start mainstreaming on that type of information.
Prepaire will also enable Avalon users to get genetic information by sending in a blood sample that is being used to extract specific genetic information that then can be combined with the digital twin inside the Aimedis platform. In combination of health data, socio economic data, IoT and pharmaceutical data and the genetic information, AI is being used to further predict the likelyhood of future disease to help prolong life and health for decades to come.
#AIMX #AI #doctor #NFT #Data
Advanced Algorithm Use: The company is using Convolutional Deep Neural Networks (CNN) and Generative Adversarial Networks (GANs), both of which are complex machine learning models. CNNs are primarily used in pattern recognition within images, while GANs can generate new data that resembles the input data.
Chemical and Biological Modeling: With these algorithms, PREPAiRE is creating models that can identify the interactions between proteins and other substances (ligands), generate molecular structures with desired properties, and prepare synthetic data for drug discovery and personalized treatment. These models could potentially streamline the process of finding viable drug candidates.
Precision Medicine: The company is also working on integrating whole-genome sequencing with deep phenotyping to create a comprehensive view of a patientâs disease profile. This could enable more precise and effective treatment plans.
CRISPR and IPS Technologies: The utilization of advanced technologies such as CRISPR (a gene-editing tool) and IPS (induced pluripotent stem cells, which are a type of cell that can be guided to become any type of cell in the body) can establish new approaches for disease treatment and prevention.
Platform Integration: PREPAiREâs platform aims to combine prediction done in silico (performed on computer or via computer simulation) with high-throughput wet-lab validation, which means testing these predictions in a lab environment. This iterative cycle of prediction and validation allows for continuous improvements and increases in efficiency, accuracy, and reliability.
In essence, PREPAiRE is pushing the boundaries of personalized medicine by combining advanced technologies and machine learning techniques to predict and validate effective treatments at an individual level. This could potentially revolutionize the drug discovery process and the way we approach disease treatment and prevention.
What does the collaboration look like?
The first part of the collaboration combines an Avalon representation of Prepaire to visualize on different services and procedures down to a genetic level. The information from population scale data, cell based disease models and predicitve insights will be a first part in the usage of the Aimedis NFT data marketplace to start mainstreaming on that type of information.
Prepaire will also enable Avalon users to get genetic information by sending in a blood sample that is being used to extract specific genetic information that then can be combined with the digital twin inside the Aimedis platform. In combination of health data, socio economic data, IoT and pharmaceutical data and the genetic information, AI is being used to further predict the likelyhood of future disease to help prolong life and health for decades to come.
#AIMX #AI #doctor #NFT #Data
- **Privacy #Issue in 'Made by Apes' Platform**: On-chain analyst #ZachXBT discovered a privacy concern within the SaaSy Labs API of the on-chain licensing application platform called 'Made by Apes'. This issue exposed personal information of users who applied for MBA licenses.
- **Disclosure and Fixing of the Issue**: ZachXBT reported the #privacy issue to Yuga Labs, the creator of 'Made by Apes'. The problem was addressed and fixed by Yuga Labs after being notified. This prompt response demonstrates the importance of addressing security vulnerabilities promptly to protect user data.
- **Uncertainty About #Data Misuse**: Yuga Labs acknowledged the privacy breach and expressed uncertainty about whether any misuse of the exposed data had occurred. This highlights the potential risks users face when their personal information is compromised.
- **User Outreach and #Protection Measures**: Yuga Labs is taking proactive steps to address the situation. They are reaching out to individuals who may have been affected by the privacy issue. Additionally, Yuga Labs is offering fraud and identity protection services to users who may require it, showcasing their commitment to mitigating potential negative consequences.
- **Lessons for Data Security**: This incident serves as a reminder of the importance of robust data security measures in the blockchain and crypto space. It underscores the need for continuous monitoring, swift response to vulnerabilities, and transparent communication with users to ensure their data is safeguarded.
$BTC $APE $APT
- **Disclosure and Fixing of the Issue**: ZachXBT reported the #privacy issue to Yuga Labs, the creator of 'Made by Apes'. The problem was addressed and fixed by Yuga Labs after being notified. This prompt response demonstrates the importance of addressing security vulnerabilities promptly to protect user data.
- **Uncertainty About #Data Misuse**: Yuga Labs acknowledged the privacy breach and expressed uncertainty about whether any misuse of the exposed data had occurred. This highlights the potential risks users face when their personal information is compromised.
- **User Outreach and #Protection Measures**: Yuga Labs is taking proactive steps to address the situation. They are reaching out to individuals who may have been affected by the privacy issue. Additionally, Yuga Labs is offering fraud and identity protection services to users who may require it, showcasing their commitment to mitigating potential negative consequences.
- **Lessons for Data Security**: This incident serves as a reminder of the importance of robust data security measures in the blockchain and crypto space. It underscores the need for continuous monitoring, swift response to vulnerabilities, and transparent communication with users to ensure their data is safeguarded.
$BTC $APE $APT
1. **#Chainlink Integration with Base**: Base, a platform, has incorporated Chainlink's #price feeds, enabling its developers to utilize Chainlink data sources and other #Web3 services.
2. **Enhanced #DeFi Connectivity**: This integration empowers Base to seamlessly connect with external decentralized finance (DeFi) applications. These applications encompass decentralized lending protocols and derivative markets.
3. **Expanded #Data and Functionality**: By leveraging Chainlink's capabilities, Base strengthens its data accuracy and extends its functionalities, facilitating smoother interactions with various DeFi services for its users.
$LINK
2. **Enhanced #DeFi Connectivity**: This integration empowers Base to seamlessly connect with external decentralized finance (DeFi) applications. These applications encompass decentralized lending protocols and derivative markets.
3. **Expanded #Data and Functionality**: By leveraging Chainlink's capabilities, Base strengthens its data accuracy and extends its functionalities, facilitating smoother interactions with various DeFi services for its users.
$LINK
One Million Individual Wallets Now Hold a Whole Bitcoin
A major bump in such wallets came after the implosion of crypto exchange FTX between November and January.
Individual wallets holding at least one bitcoin (BTC) set a milestone figure earlier this week, suggesting long-term sentiment for the tokens remains intact even as broader markets weigh down bitcoin prices.
Data from the on-chain analytics tool Glassnode show bitcoin wallets holding more than one token crossed the millionth mark on Monday. This is a 20% bump since February last year.
The data shows that bitcoin wallets holding one token grew by 79,000 between November and January â amid the collapse of crypto exchange FTX as prices fell from over $22,000 to briefly under $16,000.
#Binance #BTC #crypto2023 #Data
Individual wallets holding at least one bitcoin (BTC) set a milestone figure earlier this week, suggesting long-term sentiment for the tokens remains intact even as broader markets weigh down bitcoin prices.
Data from the on-chain analytics tool Glassnode show bitcoin wallets holding more than one token crossed the millionth mark on Monday. This is a 20% bump since February last year.
The data shows that bitcoin wallets holding one token grew by 79,000 between November and January â amid the collapse of crypto exchange FTX as prices fell from over $22,000 to briefly under $16,000.
#Binance #BTC #crypto2023 #Data
@everyone purchase data/usdt at cmp 0.029
Targets: 2985, 3100,3245, 3485
Dca at: 0.02785
Stop loss: 0.02710
#datausdt #freesignals #SpotTradding #TradingTechnicals #Data $DATA
Targets: 2985, 3100,3245, 3485
Dca at: 0.02785
Stop loss: 0.02710
#datausdt #freesignals #SpotTradding #TradingTechnicals #Data $DATA
Numerai Project Review: A Cutting-Edge Decentralized Data Marketplace for Machine Learning
Introduction
Numerai is a pioneering crypto project that has emerged as a leading decentralized data marketplace for machine learning. Built on blockchain technology, Numerai offers an innovative platform that facilitates data science collaborations and incentivizes contributors through its native cryptocurrency, Numeraire (NMR). This review aims to provide a professional and unbiased assessment of Numerai, exploring its key features, strengths, and potential limitations.
Platform and Functionality
Numerai operates as a decentralized hedge fund that leverages the power of collective intelligence to improve predictive models. It allows data scientists to submit machine learning models trained on financial data, competing to create the most accurate predictions. The platform provides a vast dataset that has been anonymized and encrypted to protect contributors' intellectual property.
The Numerai platform incorporates advanced cryptographic techniques such as federated learning and differential privacy, ensuring data privacy and security while maintaining the integrity of the collaborative process. This decentralized approach eliminates the need for a central authority, promoting transparency, fairness, and reducing the risk of data manipulation.
Incentive Mechanism
One of Numerai's notable features is its unique incentive mechanism. Contributors are rewarded with Numeraire tokens based on the performance of their models. The distribution of tokens is determined through a staking mechanism that rewards users who stake NMR on successful models. This system aligns the interests of participants, fostering a competitive yet collaborative environment where contributors strive to optimize their models for superior performance.
The integration of a native cryptocurrency, Numeraire, also adds an additional layer of economic incentives. Numeraire tokens can be used to participate in tournaments, stake for increased rewards, and access additional features within the Numerai ecosystem. This design encourages active engagement and enhances the overall value proposition for participants.
Community and Governance
Numerai boasts a vibrant and engaged community of data scientists, quantitative researchers, and machine learning enthusiasts. The project has gained recognition and support from renowned industry experts, further bolstering its credibility. The platform's open-source nature allows for continuous improvement and community-driven contributions, ensuring the evolution of the project aligns with the needs and aspirations of its users.
Governance within Numerai is a decentralized process where stakeholders can participate in decision-making through on-chain voting. This democratic approach empowers the community to shape the platform's future development, enhancing transparency and fostering a sense of ownership among participants.
Limitations and Challenges
While Numerai has made impressive strides in revolutionizing the field of decentralized machine learning, there are a few considerations to keep in mind. The platform primarily focuses on financial prediction models, which limits its applicability to other domains. Additionally, Numerai's complex cryptographic techniques may present a barrier to entry for some potential users who are less familiar with these technologies.
Furthermore, Numerai's success relies heavily on the quality and quantity of data contributed by participants. Maintaining a consistently high standard of data quality and attracting a diverse range of contributors may pose ongoing challenges for the project.
Closing Thought
Numerai stands out as an innovative and groundbreaking crypto project that pioneers the fusion of machine learning and decentralized finance. Its decentralized data marketplace, robust incentive mechanism, and active community contribute to its unique value proposition. While Numerai faces certain limitations and challenges, its achievements and potential cannot be overlooked. As the project continues to evolve, it has the potential to redefine the future of collaborative machine learning and create new opportunities for data scientists worldwide.
#projectreview #Numerai #ai #web3 #Data
Numerai is a pioneering crypto project that has emerged as a leading decentralized data marketplace for machine learning. Built on blockchain technology, Numerai offers an innovative platform that facilitates data science collaborations and incentivizes contributors through its native cryptocurrency, Numeraire (NMR). This review aims to provide a professional and unbiased assessment of Numerai, exploring its key features, strengths, and potential limitations.
Platform and Functionality
Numerai operates as a decentralized hedge fund that leverages the power of collective intelligence to improve predictive models. It allows data scientists to submit machine learning models trained on financial data, competing to create the most accurate predictions. The platform provides a vast dataset that has been anonymized and encrypted to protect contributors' intellectual property.
The Numerai platform incorporates advanced cryptographic techniques such as federated learning and differential privacy, ensuring data privacy and security while maintaining the integrity of the collaborative process. This decentralized approach eliminates the need for a central authority, promoting transparency, fairness, and reducing the risk of data manipulation.
Incentive Mechanism
One of Numerai's notable features is its unique incentive mechanism. Contributors are rewarded with Numeraire tokens based on the performance of their models. The distribution of tokens is determined through a staking mechanism that rewards users who stake NMR on successful models. This system aligns the interests of participants, fostering a competitive yet collaborative environment where contributors strive to optimize their models for superior performance.
The integration of a native cryptocurrency, Numeraire, also adds an additional layer of economic incentives. Numeraire tokens can be used to participate in tournaments, stake for increased rewards, and access additional features within the Numerai ecosystem. This design encourages active engagement and enhances the overall value proposition for participants.
Community and Governance
Numerai boasts a vibrant and engaged community of data scientists, quantitative researchers, and machine learning enthusiasts. The project has gained recognition and support from renowned industry experts, further bolstering its credibility. The platform's open-source nature allows for continuous improvement and community-driven contributions, ensuring the evolution of the project aligns with the needs and aspirations of its users.
Governance within Numerai is a decentralized process where stakeholders can participate in decision-making through on-chain voting. This democratic approach empowers the community to shape the platform's future development, enhancing transparency and fostering a sense of ownership among participants.
Limitations and Challenges
While Numerai has made impressive strides in revolutionizing the field of decentralized machine learning, there are a few considerations to keep in mind. The platform primarily focuses on financial prediction models, which limits its applicability to other domains. Additionally, Numerai's complex cryptographic techniques may present a barrier to entry for some potential users who are less familiar with these technologies.
Furthermore, Numerai's success relies heavily on the quality and quantity of data contributed by participants. Maintaining a consistently high standard of data quality and attracting a diverse range of contributors may pose ongoing challenges for the project.
Closing Thought
Numerai stands out as an innovative and groundbreaking crypto project that pioneers the fusion of machine learning and decentralized finance. Its decentralized data marketplace, robust incentive mechanism, and active community contribute to its unique value proposition. While Numerai faces certain limitations and challenges, its achievements and potential cannot be overlooked. As the project continues to evolve, it has the potential to redefine the future of collaborative machine learning and create new opportunities for data scientists worldwide.
#projectreview #Numerai #ai #web3 #Data
Why Decentralized Hosting Is The Future Of The Internet?
Decentralized hosting, on the other hand, uses a distributed network of computers to store data, making it much more difficult for malicious actors to compromise the system.
#decentralizedhosting #internet #Data #security
Decentralized hosting, on the other hand, uses a distributed network of computers to store data, making it much more difficult for malicious actors to compromise the system.
#decentralizedhosting #internet #Data #security
Smart Contract Immutability Threatened By EU Parliamentâs Data Act
The European Union (EU) Council has agreed to amend the Data Law, which mandates a âkill switchâ for applications using smart contracts, according to local industry sources.
This comes after the EU Parliament passed the âData Actâ on March 14, which weakens the immutability of smart contracts. The bill includes regulations requiring smart contracts to have access control, transaction confidentiality protection, and suspend and reset functions.
However, the decentralized finance (DeFi) market is protesting that these functions required by the bill may undermine the original purpose of smart contracts, which are contracts that are automatically executed through code recorded on a public blockchain without an intermediary. The DeFi market argues that the bill could potentially compromise the public and immutable nature of smart contracts, which is a fundamental aspect of blockchain technology.
Popular decentralized exchange (DEX) Curve Finance has already spoken out against the bill, saying that it is impossible to implement. Other players in the DeFi market are likely to follow suit, as they consider the bill to be a significant threat to their operations.
The bill went to a three-way consultation in which the European Union Parliament, the Council and the Executive Committee discussed details. The first related meeting was held on the same day that the EU Council agreed to amend the Data Law. The final draft of the data law will be decided after negotiations between the Parliament and the Council through the mediation of the European Commission.
The passing of the Data Act and the subsequent amendment of the Data Law highlights the ongoing debate around the regulation of blockchain technology and its applications. While some argue that regulations are necessary to ensure the protection of users and to prevent abuse, others argue that excessive regulation could stifle innovation and compromise the core principles of blockchain technology. As the DeFi market continues to grow and evolve, it is likely that similar debates will continue to emerge in the future.
#EU #Data #smartcontract #crypto2023 #azcoinnews
This article was republished from azcoinnews.com
This comes after the EU Parliament passed the âData Actâ on March 14, which weakens the immutability of smart contracts. The bill includes regulations requiring smart contracts to have access control, transaction confidentiality protection, and suspend and reset functions.
However, the decentralized finance (DeFi) market is protesting that these functions required by the bill may undermine the original purpose of smart contracts, which are contracts that are automatically executed through code recorded on a public blockchain without an intermediary. The DeFi market argues that the bill could potentially compromise the public and immutable nature of smart contracts, which is a fundamental aspect of blockchain technology.
Popular decentralized exchange (DEX) Curve Finance has already spoken out against the bill, saying that it is impossible to implement. Other players in the DeFi market are likely to follow suit, as they consider the bill to be a significant threat to their operations.
The bill went to a three-way consultation in which the European Union Parliament, the Council and the Executive Committee discussed details. The first related meeting was held on the same day that the EU Council agreed to amend the Data Law. The final draft of the data law will be decided after negotiations between the Parliament and the Council through the mediation of the European Commission.
The passing of the Data Act and the subsequent amendment of the Data Law highlights the ongoing debate around the regulation of blockchain technology and its applications. While some argue that regulations are necessary to ensure the protection of users and to prevent abuse, others argue that excessive regulation could stifle innovation and compromise the core principles of blockchain technology. As the DeFi market continues to grow and evolve, it is likely that similar debates will continue to emerge in the future.
#EU #Data #smartcontract #crypto2023 #azcoinnews
This article was republished from azcoinnews.com
