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How artificial intelligence helps to improve the performance of blockchain networks

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Blockchain technologies are developing very actively. In recent years, the community has developed and refined the idea of ​​decentralized information networks. However, in this industry there are still a lot of opportunities and directions for the development and implementation of new ideas.

One such idea is the use of artificial intelligence. AI technologies, as well as virtual reality and quantum computing are the three most promising trends in the further technological evolution of our world. The development and use of these technologies will be able to open up previously unavailable opportunities for humanity. Therefore, the luminaries of blockchain, which is also the most advanced technology in the world of information and finance, cannot afford to ignore these promising directions.

The most popular and useful technology that can significantly improve the potential of the blockchain at the moment is artificial intelligence. And while many projects are calculating and planning ways to use AI in Blockchain, Libonomy has managed to create a successful symbiosis of these two ideas.

Libonomy is being developed as a framework for building any blockchain application. The team is led by three Swedish entrepreneurs – Richard Haverinen (CEO), Fredrik Johansson and Therese Johansson. With shared ideology in their minds, together they have spent the second half of last decade accumulating knowledge about decentralized technology and building an intelligent team around them. 

The new ecosystem will provide access to tools that will allow you to launch smart contracts in one click, create multi-currency wallets, launch DAPPs and DEXs, and also interact with various blockchains using interoperable technologies from Libonomy. A number of the main advantages of the new blockchain provide precisely the use of artificial intelligence for many important aspects of the functioning of the network. Among them:

  • Security and protection from hacker interference
  • Optimization and versatility for different tasks
  • Decision-making autonomy and scalability.

Below we will describe each use case for AI in the Libonomy blockchain in more detail.

AI and blockchain security

It’s no secret that blockchain networks have become the # 1 target for hackers. The fact is that gaining control over a decentralized network allows you to get cryptocurrencies or data from users’ wallets, which are essentially the same thing. This is why blockchain developers must prioritize the security and protection of their networks.

In order to protect itself from external interference, the Libonomy team decided to take an alternative path: instead of writing scripted scenarios for the network during an attack, the developers taught the network to defend itself on its own, constantly adapting to new hacking methods. This is where artificial intelligence came in handy, thanks to which Libonomy is constantly looking for vulnerabilities in its blockchain, fixing them and learning to prevent hacker attacks.

AI and blockchain versatility

Each blockchain was created for specific purposes. For example, Ethereum works great as a platform for startups or for launching smart contracts. Tron is good at speed and low cost of transactions, and Bitcoin still brings good profit to miners thanks to its network consensus protocol. 

But what about a person who needs to combine various advantages in a project? Is it really necessary to create a new blockchain from scratch? To solve this problem, the Libonomy developers integrated the AI ​​engine into the blockchain. Now, depending on the use cases, the self-learning system will regulate many network parameters, up to block size and throughput. And all this is completely autonomous.

AI and blockchain autonomy

Currently existing blockchains cannot work autonomously. This means that every decision, every action must be pre-foreseen and programmed. This significantly limits the potential of the technology, allowing it to function only under the conditions provided by the developers. But Libonomy has a different approach to this issue:

“We are enabling blockchain to make autonomous decisions in terms of distributing resources, upgrading and ensuring security on the basis of analyzing the system. That means that the system can live on it’s own without a need of constant monitoring”  — the project team comments on the results of the introduction of AI into the blockchain.

Thus, as you can see, the integration and mutually beneficial symbiosis of two advanced technologies leads to impressive results. Thanks to the proper attention and expertise in artificial intelligence technology, the Libonomy Blockchain team managed to create a completely new product that fully complies with the principles of decentralization.

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Crypto scams are everywhere. Learn How to Avoid Them with These Tips

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The cryptocurrency ecosystem has expanded rapidly in the last few years. It is a lucrative and remunerative space to be in, but it’s also ripe with scams.

According to a new report by Blockchain Analytics firm Chainalysis, $7.7 billion was stolen in cryptocurrencies scams worldwide in 2021 alone. The figures have increased by 81% as compared to 2020.   

The report was out recently and Chainalysis wrote that Rug Pulls is a common type of scam in crypto, where developers abandon a project and leave with investors’ funds. Rug Pull accounted for $2.8 billion stolen in 2021. 

What is a Scam? 

A confident game where fraudulent businesses or schemes take money or goods from an unsuspecting person.

How to Avoid Them?

  1. Fake Mobile Apps

Scammers trick cryptocurrency investors through fake apps which are available to download through Google Play Store and Apple Store. A lot of stakeholders find such apps and get them removed but the apps are impacting a lot of bottom lines. Bitcoin News reports that thousands of people have downloaded such fake apps.

Each investor should cross check the app by checking for obvious spelling mistakes in the copy or inauthentic branding of the app. 

  1. Tech Support

Scammers are offering customers fake tech support by sharing confidential trading crypto information and posing as legitimate representatives of exchange houses. The support is offered through social media handles or phone calls.

 It is possible to avoid getting caught up in such scams by cross checking the phone numbers and social media handles of the exchanges you are using. Also, don’t give any remote access to your computer or share your security codes and passwords with random people who are posing as crypto exchange officials.

  1. Tweets and Social Media Updates

There are a lot of malicious and impersonating cryptocurrency bot accounts on Twitter and other social media handles. There are safer platforms currently in development such as Crypter and CrypTalk that will prevent you from joining the wrong accounts. You should avoid opting for any offer that comes through Facebook and Twitter, especially if the results seem too good to be true. 

It is important to understand that even if you give a small amount of cryptocurrency on these platforms, you will never see it again

  1. Giveaways

Avoid participating in cryptocurrency giveaways as they are usually fake. This is because a lot of public figures and celebrities talk about crypto on their social media accounts, which helps the scammers to organize fake giveaways using their names.

 The scammers respond to the giveaways using fake accounts which helps to make them seem legit. A lot of hackers compromised the Twitter accounts of high-profile users with bogus crypto promotions. 

  1. Imposter Websites

There are a lot of websites that have been set up to look like the original, legitimate start up companies. However, you can distinguish between them by checking the small lock icon on the URL and no “https” in the site address.

 The site will look identical to the one that you are visiting but you might be redirected to another platform for payment which will have a fake URL with a zero instead of letter ‘o’. 

Closing Thoughts

People encounter a lot of scams daily in the crypto world, and the only way of protecting yourself from the same is to keep your data safe and your eyes open, while making informed decisions. 

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Blockchain

Early Blockchain Inventors Celebrate 30 Years Since Inception

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The celebration, running from October 13, 2021 to January 03, 2022, will include the sale of a collection of NFTs

New York City, United States of America, 13th October, 2021The co-inventors of the early blockchain, Drs. Stuart Haber and W. Scott Stornetta, are joining with a team of industry-leading partners to commemorate the birth of blockchain technology, its past, present, and future. It’s a tribute to the journey and the community.

Today’s announcement marks the 30th anniversary of the public appearance of what might be called the “genesis block” of what is in fact the world’s oldest continuously running primitive blockchain, as explained here.

The celebration will conclude on January 03, 2022, the 13th anniversary of the Bitcoin genesis block.  Bitcoin’s design, as described in Satoshi Nakamoto’s white paper, Bitcoin: A Peer-to-Peer Electronic Cash System, relies on Haber and Stornetta’s mechanism for ensuring the integrity of all of its transactions.  In fact, three of Satoshi’s eight footnotes reference their technical papers. 

The history of the blockchain will be celebrated with a collection of NFTs that both involve and honor the founders, innovators, and thought leaders of the blockchain community. The NFTs, demonstrating the range and diversity of the blockchain ecosystem, will be auctioned through a novel mechanism and will involve a number of innovative layer-1 blockchains and their communities.

Jason Bailey, global thought leader in NFTs and founder of Artnome.com and ClubNFT, said, “Without the work of Stuart Haber and Scott Stornetta there are no NFTs, no Bitcoin, and no blockchain. I’m thrilled that they are using this opportunity to create an NFT with the goal of unifying everyone within the blockchain ecosystem in a way that I believe only they can.”

“Kadena is thrilled and honored to participate in Immutable Record’s celebration of blockchain,” said Stuart Popejoy, the co-founder and CEO of the Kadena blockchain and smart contract platform. “Immutable Record’s NFT offering drives the space forward with a multi-protocol approach that also exploits many of Kadena’s unique advantages such as institutional-quality provenance, entirely on-chain minting, and custom marketplaces.” 

“This historic drop allows us to highlight Cardano’s unique protocol capabilities during this multi-chain celebration,” said Chris J. Snook, founder, and CEO of SDK Co, a consumer-facing blockchain-based company utilizing Cardano’s platform. 

Haber and Stornetta concluded with “We are happy to join the celebration of the blockchain, and will be announcing the involvement of other leading layer-1 blockchains and thought leaders. Stay tuned. The best is yet to come.”

For media inquiries please contact media@immutablerecord.com.

For more information visit the website https://immutablerecord.com/

About Kadena 

Kadena is the industry’s only scalable layer-1 Proof of Work (PoW) blockchain, featuring Pact, the safest and easiest-to-use smart contract technology. Kadena’s platform provides the world the tools and environment to turn ideas and ambitions into reality, from DeFi applications to NFT marketplaces. As the only blockchain that can scale both speed and storage limitlessly, decentralized services on the Kadena platform allows users and builders to exceed current limitations in blockchain such as high gas fees and storage constraints, and even “mint marketplaces” where exchange and trading of tokens and NFTs can be customized endlessly. Founded by Stuart Popejoy and William Martino who created JP Morgan’s first blockchain and led the SEC’s Crypto Committee, Kadena aims to allow for true blockchain mass adoption. Visit us at www.kadena.io and follow our twitter account at www.twitter.com/kadena_io to learn more.

About SDK Co SDK Co builds technologies powering personal choice that enable customers to regain control over their personal data by offering secure connected hardware and software. SDK Co utilizes the Cardano blockchain, a platform designed for changemakers, innovators, and visionaries. SDK Co’s ecosystem of technology offerings also includes digital collectables/NFTs for Fortune 100 brands and partners. To learn more visit https://www.sdkco.io/

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The Project Giving Away $50k and a Lamborghini Go-Kart

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The Project Giving Away $50k and a Lamborghini Go-Kart

Project DogeX is an innovative new token launching Thursday October 7th on the BSC network. The project integrates exciting marketing strategies and intriguing ‘never done before’ tokenomics with the aim of setting the standard for innovation, creativity and community building on the Binance Smart Chain.

The Project DogeX team has invented a ‘first of it’s kind’ higher low coin; in essence ensuring stable, and consistent growth of the coin alongside an exciting NFT use case being developed.

With a verified doxxed Developer and project leader, a Certik and Techrate audit complete, and a 10,000 strong international community, DogeX is one of the most bullish tokens in the meme-coin space to date according to thousands of investors across the BSC space.

The magic behind DogeX

Since its inception, the very foundation of DogeX has been focused on marketing strategies executed akin to a Fortune 500 business; like sending an Elon Musk themed plush toy to space (and trending on Twitter)!

The 30 strong DogeX team members are being named the holy grail of blockchain teams. Their developer comes riding high off the back of the highly recognised Saint Token. Meanwhile their Marketing team is a collective group of seasoned digital guru’s with robust backgrounds in E-commerce, Influencer marketing, and viral brand awareness for big-name brands.

DogeX also has some of the most omnipresent international marketing plans ever seen. From viral exposure in Russia, Japan and China, countries once ignored by 99.9% of projects, the team is doing everything possible to be seen by eyes worldwide.

DogeX has key partnerships on the horizon with mega-successful tokens, as well as a completely new NFT concept to be fully announced in Q4 of this year that will help increase the value of holders tokens.

$50k Giveaway & Lamborghini Go-Kart

The DogeX team knows how important it is give back to their community, and that’s why they’ve decided to do a giveaway competition for over 100 BNB ($42k)

They’ll be giving away 10 BNB to 10 lucky people, alongside an exclusive DogeX themed Lamborghini Go-Kart. They’re the first project to organise a competition of this scale, ever adding to the innovative aspect of this project.

The deadline for the giveaway is the 30th of October, and you can find out how to enter here.

The Innovation of DogeX

DogeX has a vision to surpass Doge in popularity. To do this, they’re going to rely on keeping the world on the tips of their toes with exciting new features, giveaways, and announcements.

But how does DogeX actually work and what separates it from thousands of other projects out there today?

Well, funny you say that. They’ve got some super helpful videos explaining the tokenomics that absolutely anyone can follow along and understand. The team hopes to continue bridging the gap between retail and the crypto community, by launching viral guerilla marketing campaigns across metropolitan cities from London to Los Angeles.

Project leader ‘Falcon’ envisions a world where DogeX becomes a household name in the cryptocurrency space, one with longevity stretching years into the future. In a sea of scams, the innovation and transparency of DogeX is truly what sets it apart from the rest of the pack.

Another astonishing innovative that the DogeX team launched was their unique animated clips featuring AI generated voice overs from famous names like Elon Musk and Richard Branson.

The team is also keen on engineering new ways to keep retail and  discovering their project. That’s why their team coded brand new referral bots, and giveaway bots to incentivise users to bring in new members, while rewarding those who completed the latter.

Another feature that the DogeX team curated is their highly addicting minigame which encourages users to tweet their score, thus boosting the brand awareness of the project. Users have found themselves spending hours at this trying to get the highest level where a prize of 2 BNB was rewarded to the winner.

Breakthrough Tokenomics for DogeX

The team has prioritised chart sustainability with breakthrough and ‘first of it’s kind’ tokenomics on the BSC network. Here are some of the features outlined below in simplified terms:

Stairway to Space:

Stairway to space is a daily higher floor mechanism that ensures the chart forms a daily higher low. The floor price is randomly set during the day at a random time and not communicated with the community nor the team.

Golden hour

Golden hour is a 0% buy tax hour period and 48% sell tax hour. The following hour, all sales will be taxed 24% then back to regular selling tax after that hour.

Buyback wallet

The auto buyback wallet will create random chart pumps throughout the day based on volume.

Antibot measures

We’ve added extensive antibot measures that will help deter bots from playing with the project.

Anti whale measures

Large wallets always keep communities second guessing the true sustainability of their tokens, so for that reason, DogeX has introduced the max sell to 2% price impact (or 20 BNB per day) whichever is lower, which we will raise over time.

They also added a max supply of 1% per wallet to prevent one wallet holding too much of the supply.

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