Category: Cryptocurrency

Cryptocurrency is digital money that works online. It lets people send and receive payments directly without banks. It runs on secure networks called blockchains, making it fast and global.

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

D3 Global Unveils .APE Domain Names for ApeCoin Community

Summary

D3 Global has released .APE domain names providing ApeCoin holders to create a new web3 identity through newly created ApeChain. This initiative is part of an effort to make an interoperable name service for for the Apecoin ecosystem.

.APE Domains Go Live on ApeChain

D3 Global, which is a worldly known company for their specialization in web3 domain has officially launched .APE domain names for ApeCoin community which started as a memecoin. This initiative was announced on October 22, these domains will allow ApeCoin users to create their own tokenized web3 identities with the help of ApeChain layer-2 network.

Proposal Backed by ApeCoin Community

The launch follows a community-approved proposal that is in symmetry with the Internet Corporation for Assigned Names and Numbers (ICANN)‘s rollout of new generic top level domains (TLD)s. This effort is part of a larger initiative to enhance the utility and branding of ApeCoin users.

Multiple Uses for Tokenized .APE Names

ApeCoin holders can use these tokenized .APE names for several purposes, including email addresses, wallet addresses, decentralized identifiers, and as usernames across web3 platforms. This brings added functionality and personalization to ApeCoin’s growing ecosystem.

Building the Future of Web3

Gerard Hernandez of the APE Foundation expressed his excitement about the partnership with D3 Global stating:

“There is an imminent need for a comprehensive, all-in-one name solution that not only facilitates the growth of the APE brand and community, but also ensures futureproof utility for users.”

The domains will be available first to ApeCoin holders, with public availability set to follow soon.

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.

Revolve Labs Proposes $60M Bitcoin Mining Data Center in Minnesota

Summary

A Colorado–based mining company, Revolve Labs is planning to build a $60 million data center in Glencoe, Minnesota. This facility aims to boost bitcoin production and processing capacity, address noise concerns and support local blockchain ecosystem.

Plans for a New Data Center

Colorado-based Revolve Labs is planning to establish $60 million data center in Glencoe, Minnesota. This project will have various features including AI data centers, cooling system, backup generator and lower noise concerns.

X ( formerly Twitter) post about AI Data Center.

Project Scope and Employment

The proposed facility is in early planning stages and will cost between $40 million and $60 million. It is expected to create 10 jobs and sit on a 6.2-acre site, also housing a new power substation.

Noise Concerns from Bitcoin Mining

Locals have raised an issue about possible noise pollution from mining, with reports of equipment noise reaching upto 85 decibels. This is not new for Revolve Labs as it has already faced similar complaints in other locations.

Economic Impact on Glencoe

Despite the noise issues, Revolve Labs’ operations have brought in $500,000 in net annual revenue, supporting local infrastructure projects and keeping electrical rates steady for residents.

Chinese Woman Pleads Not Guilty to Bitcoin Laundering Charges in the UK

Summary

Zhimin Qian, a Chinese national, has pleaded not guilty to charges of Bitcoin laundering in UK court. She was accused of handling illegal cryptocurrency in connection with a large money laundering operations.

X (formerly Twitter) post by Crypto News (CoinGape)

Qian Faces Money Laundering Charges

Zhimin Qian, popularly known as Yadi Zhang, stood in front of UK court and pleaded not guilty to laundering Bitcoin. According to Bloomberg, Qian was arrested and charged with two counts of money laundering. The UK’s Criminal Prosecution Service alleges that Qian possessed and transferred illegal cryptocurrency as part of a broader criminal operation prior to April 23.

The Involvement of Jian Wen

Authorities claim that Qian worked with Jian Wen, who has been sentenced for 6 years on the count of being involved in laundering plot. Police conducted raid on Wen’s residence to find 61,000 Bitcoin, currently valued over $4 billion. This arrest on Wed led the authorities to conduct a thorough investigation on Qian.

“Crypto Queen” Allegations

Qian is infamous with the name “Crypto Queen” , as she is accused of frauding 130,000 Chinese investors out of $5.6 billion between 2014 and 2017. However Qian denies all accusation and intends to fight back vigorously.

Trial Set for 2025

The trial is scheduled to begin in September 2025 at Southwark Crown Court, where another co-defendant, Seng Hok Ling, has also pleaded not guilty to related charges.

Qian’s case has drawn significant attention, as the broader legal proceedings around cryptocurrency crimes continue to evolve globally like the one which recently occured in Hong Kong.

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.

TON Blockchain Sees Sharp Drop in Daily Active Users

Summary

The Open Network (TON) has seen a steep drop in daily active users, according to data provided on IntoTheBlock. The blockchain which showed a promising future in september has suddenly declined into abyss in october. This decline shows a broader market trend and specific challenges faced by a network.

TON’s Active Users Plummet

It is surprising that TON has seen its daily active users nosedive, TON at its peak had over 5 million active users. According to a chart shared on X (formerly Twitter), analysts believe this sharp decline on daily active users started in recent weeks. This raises suspicion on crypto space, can new blockchain projects ever reach the heights of Bitcoin and Ethereum ?

TON’s Daily Active Users Chart, Posted on X by IntoTheBlock

September Surge Quickly Fades

Toncoin powered network, TON had its moment in the spotlight earlier this year, especially in september when crypto gaming on telegram-based decentralized applications like Catizen and Yescoin saw hugs boost in users. On September 27, TON hit its peak active user count of 5.18 million and that number fell down to just 1.58 million by ghe 21st October, showcasing turbulence in Blockchain space.

New Addresses Also Decline

Alongside this, new addresses and zero-balance addresses on TON also took a hit, dropping from 2.58 million and 346,000 to under 650,000 and 68,000, respectively. It seems the market slowdown wasn’t the only factor at play. Events like the arrest of Telegram’s founder Pavel Durov and other network challenges have seemingly influenced the dip in user engagement.

Hope on the Horizon?

Historically, spikes on crypto projects have led to major events. While the numbers might look grim there’s still hope, seeing how Near Protocol is managing 3 million active users during current crypto turbulence. TON also has integration plans with Alchemy Pay, which fuel a rebound in users activity and provide us with a generational comeback.

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

Samsung Integrates Blockchain for Enhanced Security in AI Home Devices

Summary

Samsung is expanding its reach towards blockchain and taking an initiative to boost security across its AI-powered home devices. It plans to integrate some of blockchain features including its enhanced security framework for smart appliances.

Trust Chain for Device Security

Samsung announced their aim to extend the Knox Matrix framework, previously used in Mobile devices, TVs and in home appliances. This framework uses a private blockchain to create a “Trust Chain”, which allows devices to monitor each other, reducing security threats.

According to Samsung :

“Based on blockchain technology, Trust Chain allows connected devices to monitor each other for security threats and notifies users of threat-blocking measures if there is a problem with the security status.”

Cross-Platform Privacy and Protection

Samsung is also launching “Cross Platform” technology which ensures consistent security across all operating system. It will add another layer of privacy by adding encryption and decryption system. Furthermore, Samsung also plans to upgrade their privacy sector by adding biometric authentication.

Broader Blockchain Integration

This effort will benefit decentralized space, like how DeFi is making transactions much smoother than TradFi. This initiative by Samsung is built on their previous blockchain projects, such as The Samsung Blockchain Wallet and Samsung Blockchain Keystore. These projects provide secure private keys which supports decentralized applications ( dApps), showcasing Samsung’s commitment to Blockchain and innovation.

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.

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