Tag: Blockchains

Most Blockchains Cannot Handle AI’s Needs

A completely/fully decentralized blockchain, such as The Internet Computer (ICP), the network I helped build that offers compute power matching or exceeding Web2 cloud servers, will allow AI models to be run entirely inside of smart contracts. This will make the training parameters and inputs that make large language models both open source and tamper-proof. To enable AI integration on the blockchain, we need blockchains capable of processing data at speeds comparable to Web2 clouds, which can only come from full decentralization. Source

ERC-20 inventor discusses origins, new blockchains, BRC-20 and more

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In 2018, Ethereum lead developer Fabian Vogelsteller contacted the community for a new standard for smart contracts he created alongside co-founder Vitalik Buterin. Dubbed ERC-20, Vogelsteller, at the time, only wished for input regarding the novel idea. Little did he know that ERC-20 would ignite a wave of initial coin offerings (ICOs) shortly after its inception to become the industry gold standard for issuing tokens on the Ethereum blockchain. Just as ERC-20 tokens were gaining traction, Vogelsteller left the Ethereum Foundation the same year to focus on developing a new…

A Crypto Metric Called Years to Profitability Is Good for Evaluating Blockchains

Then, by using the same set of growth rate assumptions for each chain (we calculated future CAGRs of 30%, 40% and 50%), we can make comparisons across chains and explore more deeply what drives YTP. For example, while APT has a high YTP, this is partially because the chain is relatively new and therefore its revenues are smaller than those of other more established chains. SOL has modest inflationary schedules compared to blockchains like NEAR or ICP. In all examples, a blockchain’s ability to burn tokens (and provide some kind…

FedNow “early adopter” list contains no blockchains, but some may integrate later

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The Federal Reserve’s upcoming instant payment system, FedNow, released its list of certified “early adopters” on June 29. The organizations on the list have been certified as ready to connect with the platform when it launches in late July. No blockchain networks are on the list, despite at least two having previously announced that they would connect to the instant payment system. The FedNow service stated that some organizations not on the list may be integrated later, and Metal Blockchain said it still intends to connect with the platform once…

Unfazed by SEC tumult, top banks work to make blockchains interoperable

Amid all the tumult in the crypto world, some of the world’s largest banks have been quietly reflecting on ways to bring digital assets to institutional customers. And last week, a plan emerged. A collaboration, under the guidance of the Society for Worldwide Interbank Financial Telecommunication, better known as Swift — the global financial communication and payments network — will soon be testing ways for permissioned bank-owned blockchains to not only talk to each other, but also communicate with public blockchains like Ethereum. Participants in this global experiment include more…

Polygon president testifies on democratizing the internet with Web3, blockchains

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The House Energy and Commerce Committee Subcommittee on Innovation, Data and Commerce gathered on June 7 to discuss blockchain technology and the future of Web3. Crypto industry members including Ryan Wyatt, president of Polygon Labs and legal experts appeared before the committee to engage in a much more amicable dialogue.  This meeting was held just after the SEC announced back-to-back lawsuits against major crypto exchanges Binance and Coinbase. In Wyatt’s testimony, he discussed the potential of blockchain technology and its value to users, as well as the benefits of building…