Author: Anmol Khatiwada

Chainlink Merges AI, Blockchain, and Oracles to Deliver Real-Time Market Data On-Chain

Summary

Chainlink combined AI, blockchain and oracles to create an unstructured market data on-chain and published its results and honestly it looks like a huge success. It has successfully showed how artificial intelligence, oracles and blockchains can solve decade long unstructured data challenges in finance.

Blockchain oracle provider chainlink has posted the results of an experiment on improving corporate actions data reporting using artificial intelligence and blockchain. This initiative involved many big players such as Euroclear, Swift, UBS, Franklin Templeton and Sygnum Bank and the blockchain ecosystem partners included Avalanche, ZKsync, and Hyperledger Besu network.

The research concluded that corporate actions processing is the most complex areas of post-trade operations, plus the processing costs of regional businesses can also go as high as $5 million annually. However, automating and standardizing this data could help reduce operational inefficiencies significantly due to errors and manual data processing and that’s exactly what chainlink is doing.

Chainlink has proposed a technical solution that combined large language models (LLMs), its own decentralized oracle networks (DONs), and multiple blockchains. The AI models it used were OpenAI’s ChatGPT 4, Google Gemini 1.5 Pro, and Anthropic’s Claude 3.5 Sonnet. The project successfully processed corporate actions across equity and fixed-income securities and achieved 100% consensus on fixed-income events.

Chainlink’s LINK Price Outlook

As of October 23, the price of one LINK token is $11.74 with a 24 hour trading volume of  $520,527,318. It has increased by 3.45% in the past seven days, however, considering 24 hours, it has decreased by 8.88%. With a circulating supply of huge 630 million LINK, it is valued at a market cap of almost $7,365,503,495. It is easily top 18th crypto platform and with this current initiative its price is speculated to go even higher.

Learn similar article: SUI network Announces AI Integration Plans

Russian Crypto Miner and Sovereign Fund Set Sights on Global AI Dominance

Summary

A mining company from Russia named Bitriver is teaming up with Russian Direct Investment Fund (RDIF) in order to build data centers and grow AI projects in BRICS countries. Their aim is to step up Russian’s game in AI and crypto mining.

Bitriver, a Russian data mining giant’s collab with RDIF will allow launch of data centers across BRICS member countries. After launching artificial intelligence themed projects, these two entities will expand Russia’s share of the global computing power network. The announcement for their collaboration was made in the recent BRICS conference held in Moscow. Bitriver’s CEO exclaimed that the main concern of this collab is to set Russia as a major player in AI and cryptocurrency mining. People across the internet believe this collab to be a huge plus point for BRICS countries. With funds coming directly from Bitriver, BRICS countries will be able to set enough AI data centers.

About Bitriver

Bitriver is a Russian company that specializes in crypto mining and data centers. They provide tech and infrastructure needed to mine cryptocurrencies like Bitcoin, using a lot of computing power and energy. They are like the managers of crypto world, setting up systems that keeps the whole mining process running smoothly. Reportedly, it plans on adding 10 more data centers. RDIF, on the other hand, co-invests in projects involving industry leaders, global institutional investors, and other sovereign funds.

Learn more about AI and crypto miners power struggle.

Chromia Partners with Chasm Network to Ensure Transparency in AI Decision-Making Records

Summary

Chromia teamed up with Chasm Network to improve decentralized artificial intelligence transparency by leveraging its blockchain for data management.

Chromia is expanding its reach even further, first partnering with Elfa AI and now Chasm Network. Chromia is a layer-1 blockchain platform that is engineered for horizontal scaling to handle parallel tasks, especially for high performance AI and gaming applications. They are saying this technical partnership is to enhance the transparency and accountability of artificial intelligence systems.

Reportedly, this collaboration will serve as a decentralized database layer to store AI inference data by utilizing a dApp (decentralized app) already deployed on Chromia’s mainnet.

Chromia stated :

“The application generates transparent and immutable records, ensuring the verifiability of sources used in AI decision-making processes.”

Additionally, Mantle-based Chasm Network revealed that its native token, Chasm AI, is set to launch on Oct. 24, but its specific role in the partnership remains unclear.

About Chasm Network

Chasm network is an AI economy platform speeding up development of AI applications with two special features: Scout Layer and Weave. Scout Layer is a decentralized system where node operators compete to deliver the best AI models and computing power meanwhile keeping things efficient and cost-effective. Whereas, Weave is a builder tool that lets creators make AI-powered prompts, workflows, and APIs easily, with plans for a marketplace to sell their work. Chasm Network is all about turning AI potential into real, useful apps.

Northern Data Group Shifts its Focus from Crypto Mining to Generative AI

Summary

Northern data group has stepped aside from its general crypto mining to generative AI. They’re selling their Bitcoin mining unit and Peak mining to raise money and dive in on building AI infrastructure and products.

Northern Data is all set on shifting its focus to AI, it is currently assembling funds by selling units to support its artificial intelligence ventures. The firm is well known for being a leading provider of artificial intelligence and high- performance computing solutions. They’ve also been posting strong growth in its AI business for the third quarter in a row. Their exit from crypto mining is seen as a move to capitalize increasing demand of AI technologies lately.

The firms main concern is to transform it into a fully AI-focused business that covers Europe’s largest Generative AI Cloud platform, and a portfolio of ingenious, purpose-built Data Centers. It can do so by using funds to boost its AI offerings, especially its Dynamic Enablement Services. They’re building scalable, eco- friendly infrastructure to power AI innovation across industries. Furthermore, they are also planning to use a portion of the fund in an unknown center. Additionally, the company has also promised improving their GPU to give support to its AI capabilities.

Read similar article : Morocco turns to AI

Bittensor Unveils Smart Contracts with Full Ethereum Integration

Summary

Bittensor now has Ethereum compatibility, letting developers use Ethereum- based smart contracts on its AI powered blockchain. They also launched the Bittensor EVM Testnet, blending AI with DeFi for the first time.

Ethereum Compatibility has been successfully brought by decentralized AI network, Bittensor through Opentensor Foundation. It will allow developers deploy and interact with Ethereum- based smart contracts on subtensor blockchain by combining AI and traditional decentralized finance (DeFi). Additionally, the launch of Bittensor EVM Testnet on Metamask was also launched.

This upgrade was initially teased at a public talk at Token2049 by Opentensor Foundation, since then this upgrade was highly anticipated by the holders. Bittensor TAO token has more than doubled from $293 to $673 since Sept 15. However, TAO has retraced since and is currently holding at a price of $592.24. It has a 24 hour trading volume of around $141,876,845 and a total market cap of $4,357,275,100. This shows it is no where near backing off from the big market scene.

Daniel Cheung from Syncracy Capital is saying that he expects the Bittensor network to experience a big boost in economic activity soon. Furthermore, he expressed his beliefs in Bittensor potentially becoming top blockchain Layer-1 in the near future. People believe, the addition of EVM compatibility and smart contracts on Bittensor is a significant milestone, as it allows for a more interconnected DeFi ecosystem. TAO is also one of the most booming AI crypto currencies recently.

Could This $0.035 AI Crypto Be the Next Ethereum Challenger?

Summary

CYBRO, an AI crypto priced at just $0.035 is catching major hype currently. Even experts have come forth saying this could blow up to $100 by 2025. While OGs like XRP and ADA seem to be on a losing streak, this new coin may shake up the market.

CYBRO is a new player in the DeFi space that offers an AI-powered platform designed to simplify user portfolios. Its main attraction is cashbacks, airdrops and reduced trading fees. Its AI tools will help users select the best vaults based on various aspects. Its presale made a lot of transactions, almost $3million which led to experts believing a potential of 1200% return of investment in the near future. That’s the reason its been listed on one of the top AI with potential in 2024. In addition to their tokens, CYBRO is giving away different ways to earn more such as specil points, referral programs, CYBRO airdrops and much more. Holders of CYBRO are able to enjoy lucrative staking rewards, exclusive airdrops, reduced trading and lending fees and cashback on purchases within the platform.

With such facilities provided to users and new projects being introduced constantly, experts believe this coin could amount to $100 by 2025. While a portion remains hesitant in investing on it.

SUI Network Announces AI Integration Plans

Summary

SUI network has just dropped its plans for mixing AI with blockchain to boost security and efficiency in their next projects. SUI foundation has also denied every accusations regarding insider token sales.

On X, Kostas Kryptos promoted this act by sharing a sample screenshot. If this continues on, people believe SUI will out AI everyone else.

VC giant Andreessen Horowitz (a16z) explained how integrating blockchain and Artificial Intelligence could be beneficial. Furthermore, he also noted that the number of crypto projects offering AI services and functionalities has surged from 27% in 2023 to 34% in 2024. He also said how Near Protocol is a great example of a project that successfully addresses  “content verification and intellectual property” issue within the AI sector. Other altcoins, like technical setup in Aptos (APT), are also looking for SUI like rally ahead.

Last week, SUI Foundation faced some serious accusations of $400 million in insider selling of the SUI tokens. In defense, SUI claims that neither insiders nor Mysten Lab employees or Mysten Lab investors had sold anything near $400 million worth of tokens. They assured the public that reportedly, no early token sales had occurred.

SUI Performance Lately

SUI has surged by nearly 500% over the past year, making it one of the top performers in the market. As of October 21, 2024, SUI’s market price is $2.12 with a 24 hour trading volume of $796,002,450. This shows it has increased by 3.44% in the last 24 hours but if we consider 7 days it has dropped by 5.29%. Regardless, with a circulating supply of 2.8 Billion SUI and a market cap of $5,871,067,161, it is comfortably placed at top the 22th position in the market.

Learn more about SUI’s market rollercoaster here.

What is Goatseus Maximus (GOAT) and why is it trending?

Summary

Goatseus Maximus is the most talked about crypto platform right now and rightfully so because it has been moving up continuously. This simple crypto token has made people millionaires.

Goatseus Maximus ($Goat) is a meme token that operates on Solana blockchain. Its recent attention in memecoin market is all thanks to an ai bot called Truth Terminal, which helped propel it to a peak market cap of $150 million in just few days. It is also the reason Truth Terminal has become a millionaire. The token operates on solana market and has been traded on several active markets.

The token reportedly grew by 12,000% in the first 24 hours of its launch. More importantly, it is showing no signs of falling out with its rising demands among crypto enthusiasts. GOAT price has surged to a new ATH of $0.4664 just a few hours ago, and much more might come with this popularity. The creator of this coin is unknown, however the AI bot that has been caretaking it has become the first AI to become a millionaire. It really did make this token into a super memecoin. The creator of truth terminal said he wanted to develop a meme themed cryptocurrency one day and interestingly so that dream turned into reality.

The bot began posting about the GOAT singularity and revealed that he had an idea, that “I have an idea for a new species of goatse,” later naming it Goatseus Maximus. With this idea, someone created the memecoin and tagged Truth of Terminal, which decided to endorse it in its posts. The bot also invested lots into GOAT tokens and now is a millionaire. With continuous promotions, both the ai bot and GOAT helped each other become multi-million dollar owners. One can buy Goatseus Maximus on Lbank, Raydium and Orca.

As of October 20, the price of Goatseus Maximus (GOAT) is $0.384 with a 24 hour trading volume of $207,013,769. This does represent a 4.42% price decline in the last 24 hour but it is still increasing considering the past 7 days. With a circulating supply of 1 Billion GOAT, Goatseus Maximus is valued at a market cap of staggering $388,063,586.

Bitcoin Miners Divided: Holding Bitcoin or Invest in AI?

Summary

The crypto mining industry has split into two and confused on which side to go with. After the recent halving event of Bitcoin many miners have shifted to AI in hopes of increasing stocks while there is a major portion still holding onto bitcoin.

The halving event that occurred six months ago has made reward for bitcoin miners 3.125 BTC, which is very little compared to what it could reward in prior years. A halving event occurs in order to prevent inflation and stabilize the coin in the market. It reduces the number of bitcoins entering circulation. As the supply decreases, halving events have historically led to increased demand and price appreciation. This is the reason why people are still holding onto it.

Meanwhile people who have left bitcoin and invested in AI are experiencing immediate gain. Core Scientific got out of bankruptcy after shifting its focus to AI by upgrading data centers to handle high performance computing. Similarly TeraWulf’s stock has become more than double after investing in AI data centers. This shows how investing in AI right now might be the right choice but many speculate bitcoin will take over in the long run.

An another portion of miners are holding onto bitcoin to avoid losses, if they leave the shares stay afloat and sell at the correct time. This uncertainty and splitting of miners has created buzz over the internet, each path carries risk but each option also allows miners to maintain profitability while they wait for Bitcoin’s next bullish cycle.

Learn about Bitcoin’s role in shaping the future of Defi here.

Hong Kong’s Fraud Empire Exposed : Police Arrests 27 Individuals

Summary

Hong Kong police have managed to take down a notorious fraud syndicate responsible for stealing HK $360 million using romance scams connected to cryptocurrency platforms. The arrested 27 people revealed how they used deepfake and digital media expertise to fool victims across Asia.

Hong Kong police reported that they have dismantled a cross-border fraud syndicate, arresting 27 individuals responsible for defrauding victims of HK$360 million through romance scams. The operation targeted a highly organized group operating locally and overseas.

The scam started by first initiating a fake love relationship with the victim and luring them into buying sketchy cryptocurrency platforms, similar to Vietnam case. Most of the victims were men, scammers used deepfake to change their appearance and made video calls to convince them to invest into their platforms. The fraud ring produced a “training manual” in Chinese and English, teaching scammers different deception techniques. Arrested individuals’ ages ranged from 21 to 34, with several holding academic qualifications.

They operated from an industrial building Hung Hom for about a year, the group hired university graduates, especially from digital media, to serve as technology experts. The fraudulent platform ran like a legit business. Police seized over 100 phones, computers and luxury watches during the raid.

This case shows how cybercrime involving cryptocurrency and artificial intelligence are becoming more common lately.

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