ChatGPT bot plugin compatible with Solana network is open source and can be downloaded from GitHub

Solana Foundation, a nonprofit organization dedicated to maintaining and developing the Solana blockchain. The company announced the integration of artificial intelligence (AI) into it using the ChatGPT plugin developed at Solana Labs.

The project’s reputation suffered as a result of the collapse of FTX. Because the bankrupt exchange owned a large number of SOL native tokens. It also launched a decentralized exchange, Serum, on the Solana network. But the blockchain was able to survive its partner’s bankruptcy. According to CoinMarketCap, as of May 24, the Solana (SOL) native blockchain token ranks 11th in market capitalization ($7.7 billion) among all cryptocurrencies.

The new ChatGPT plugin is available for download from GitHub. It will help users simplify their understanding of Solana’s data and protocols. As well as get information about the network infrastructure and DeFi projects working in it. The plugin can be used to find and buy NFTs. And also token translation, transaction validation and other network activities.

The AI will make Solana more user-friendly, Yakovenko said. He noted that every developer should now think about how their programs will integrate with the AI. That’s because it’s a new paradigm for working with computers.

The Solana Foundation also said it has increased its grant program for AI projects from $1 million to $10 million. According to the developers, the foundation has already received 50 applications. In addition, the organization has launched a three-month experimentation program in blockchain and AI for university students.

Our experts note that Sol is not the first cryptoproject to introduce AI. In early March, Binance launched NFT generator Bicasso. The test version of the service issued 10,000 tokens in the first two and a half hours of operation.

You can still tell the difference between real people and deepfakes in videos. But soon the AI technology will become so advanced that even the human eye will stop seeing the substitution

The deepfakes technology used by cryptocurrencies to bypass verification (KYC) on crypto exchanges. Such as Binance, for example, will become more and more sophisticated. This was warned by Binance’s director of security Jimmy Su, Cointelegraph writes.

The technology behind deepfakes consists of artificial intelligence (AI) synthesizing human images. How it works: the program combines several photos of a person with different facial expressions and makes a video out of them.

Cases when fraudsters use this technology in an attempt to bypass the verification process at the exchange have increased, Su told the publication. According to him, the attackers find photos of the victim on the Internet and use them to create dipfakes.

He explained that the tools have become so advanced. And that they can even properly respond in real time to audio instructions when verifying an applicant.

“Some checks require the user, for example, to blink his left eye or look left or right, look up or down. Deepfakes today are advanced enough to execute those commands,” Su said.

So far, he said, humans can still detect deception. But the AI will evolve to the point where it will be impossible for humans to tell a fake. Su acknowledged that this is a very serious problem and for now he sees the solution only in training users in risk management.

Our experts point out that Microsoft founder Bill Gates said in January. That the development of AI is the most important innovation in recent years. And one of the pioneers of neural networks and artificial intelligence technology, Jeffrey Hinton. Now he has also joined those who see such advances as a danger to humanity. He fears that the Internet will be flooded with fake photos. As well as videos and texts. Which will be created by AI, and the average person “will no longer be able to know what is true and what is not.”

The FBI warns that scammers attract people to work overseas, promising high salaries. Upon arrival, they take away passports and force them to participate in scams related to digital currencies.

The U.S. Federal Bureau of Investigation (FBI) has warned of false job postings. Which are offered by scammers to lure people to work abroad and force them to participate in cryptocurrency scams.

According to the FBI, scammers post false job ads on social media. As well as on Internet job sites, inviting people to work in Southeast Asia. Jobs related to tech support, call centers or beauty salons are offered. Applicants are offered good wages, various benefits, travel, lodging, and meals.

Upon arrival, passports are taken away from people. And then they are forcibly held, intimidated and forced to participate in international cryptocurrency fraud schemes. Thus effectively holding them in slavery.

At the same time, victims are told that they must pay mounting debt for travel. As well as accommodation and food, and sometimes sell people to other criminal groups. People are also intimidated by threats to turn them in to local law enforcement.

Our experts point out that those looking for work abroad are advised by the FBI to be wary of strange wording in job postings. As well as offers with unusually high salaries and benefits. Also, when moving to another country, tell relatives and friends the details of the new place of work.

The Fintoch project team has withdrawn its assets and announced. That due to the transition to the new network in the coming days on the platform there may be temporary problems with the deposit or withdrawal of funds

The creators of the crypto project Fintoch stole 31.6 million USDT from customers, on-chain detective ZachXBT reported. The platform’s team withdrew funds to various addresses on Tron and Ethereum networks. Users then began complaining that they couldn’t access their assets.

The Fintoch platform positioned itself as a project of Morgan Stanley, a multinational corporation. And it provided diversified financial services. Also among other things, it offered a 1% daily return on investment. The platform assured that HyBriid’s exclusive blockchain security technology allows users to “enjoy blockchain investments with zero risk.

ZachXBT recalled that Morgan Stanley previously said it had nothing to do with Fintoch. And the Singapore government had warned investors that the project was falsely presented as licensed.

The blockchain analyst also revealed that someone like Bobby Lambert. Who is listed as the CEO on the project’s website, does not actually exist. His role was probably played by actor Mike Provenzano, ZachXBT suggested, attaching a photo.

Also the Fintoch project was widely advertised and held large-scale conferences and other events in various countries. For example in Vietnam, Malaysia, South Korea, UAE and Indonesia (in Bali).

Fintoch page in the Medium social network is now closed. And in the May 24 telegraph channel of the project was published an announcement of the upcoming launch of the public network FTC. According to the announcement, there will be a “migration and deployment of system data” in the coming days.

Our experts warn that it is necessary to check each project very carefully. And if there is news that the company is cheating somewhere, it should be the first signal to withdraw your money from such a project.

Our experts talked about the influence of news from Hong Kong on the digital asset industry. And how leading cryptocurrency exchange prices will react from opening a new cryptohub in Asia

As of June 1, retail investors in Hong Kong will be able to trade cryptocurrencies on licensed platforms. On May 23, Hong Kong’s Securities and Futures Commission (SFC) published a report on regulatory requirements for cryptocurrency trading platforms. These regulations will go into effect at the beginning of the summer.

The regulator collected comments from market participants before publishing the document. It received 152 responses, including from Binance, Coinbase, Huobi, OKX, Kaiko, Matrixport, Ripple Labs, PricewaterhouseCoopers and many others. The rules were developed in response to comments received. Any of the licensed trading platforms that will comply with them. It will be able to officially provide services in the region.

According to the document, as the regulatory mechanisms for stablecoins are scheduled to be implemented only by 2024. That is until these assets will be allowed by the commission in retail. And tokens available to retail investors must meet certain criteria. At a minimum, they must be included in two indexes from unrelated companies. Cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH) meet this criterion. As well as Polkadot (DOT), Solana (SOL), Cardano (ADA), Avalanche (AVAX), Polygon (MATIC) and Chainlink (LINK).

According to the new rules, exchanges advertising specific cryptocurrencies are banned. As well as products that offer yield, staking and lending.

“Ultimately, the primary activity of a licensed trading platform is to act as an agent. And providing the ability to match orders between clients. Any other activity could lead to a potential conflict of interest. And requires additional safeguards,” the document states.

The platform operator is required to keep 98% of customer assets in a cold wallet. But for rare cases, for which a separate authorization from the SFC will be required.

Perspectives for the Asian region

The adoption of comfortable cryptocurrency legislation in Hong Kong will definitely be perceived positively by the market, our experts believe. The past few months have been marred by pressure on the industry in the United States. And because of that, many companies were forced to leave the region.

Also, prospects for cryptocurrency legislation in the EU are still unclear. And the recently adopted MiCA rules are not so transparent and do not fully reflect all the complexities. Crypto industry participants may face if they bet on the European Union.

Over the next few years, China will have an opportunity to regain some of the market lost after the ban on mining and cryptocurrencies. Access to digital assets through Hong Kong will increase capital allocation. And it will provide legal entry to the market for serious investors from one of the largest economic centers in the world.

Hong Kong’s goal is to become a major player in a region where the adoption of cryptocurrencies in countries such as Malaysia, Vietnam, Singapore And many others, at a pace outpacing the rest of the world. Our experts do not rule out the possibility that investors from mainland China will use this jurisdiction. And this will cause a new surge in investment and capitalization growth in the crypto industry. Which has been suffering from a lack of Chinese investors, who are not allowed to work with cryptocurrency, for several years now.

Positive effect on cryptocurrency market in general will be long-term

Creation of a new region with sufficient crypto-regulation. And that will allow new participants to enter the crypto industry officially. All this could be a positive factor for the cryptocurrency market in the second half of 2023, our experts believe.

Also, special attention could be paid to cryptocurrency exchanges tokens. And especially local ones, such as OKX. As they will be some of the projects that will benefit from licenses and new users coming in.

At the same time, the ban on staking, lending and other schemes for making money from crypto exchanges may make it more difficult for them to operate in the Hong Kong jurisdiction.

The news itself has more of a long-term positive effect, but in the moment, the market will have almost no reaction to the new rules. Short-term increase in volatility within standard market fluctuations of 5-10% is also possible.

The renewed approaches can potentially benefit large serious projects with a good reputation like Bitcoin, Ethereum, Tron and the like.

Just as Bitcoin and Ethereum as market leaders in terms of capitalization will be indirectly in demand. and that will lead to an increase in prices across the whole cryptocurrency market.

Government may require companies storing passwords from cryptocurrencies connected to LedgerRecover to disclose this information. Crypto Upvotes expert review

Ledger CEO Pascal Gauthier admitted that authorities could gain access to the private keys of users of hardware cryptocurrencies. And that will be connected to the new Ledger Recover service. On the What Bitcoin Did podcast, Gauthier noted that this could only happen through the courts, so it’s unlikely.

The LedgerRecover service is a voluntary feature that allows users to split a secret phrase (seed-phrase, or private wallet key) into three pieces. And send them to three third-party companies for storage.

If the secret phrase is lost, it can be recovered. At the same time, by combining these three fragments on the Ledger device and passing identification. Ledger Recover costs $9.99 a month.

The new service has sparked a wave of criticism – users were outraged by the fact that not only the owner can have access to the data on a hardware device.

Ledger shareholder and former CEO Eric Larchevec said. That governments could demand access to user funds stored on Ledger devices that subscribe to the new service. Now users are concerned. And that their funds could be blocked by the authorities if they use the service.

These comments have raised questions for Ledger users. But Ledger CEO Pascal Gauthier said such a scenario is unlikely.

According to Gauthier, it is not worrisome because governments only issue such subpoenas for serious reasons. And for example, in connection with events related to terrorism or drugs. The head of the company noted that “the average person doesn’t get a criminal court summons every day”.

Ledger postponed update due to scandal

Ledger postponed the launch of LedgerRecover, a scandalous password recovery service, due to criticism. In a letter to users, Pascal Gauthier, head of the hardware cryptocurrency wallet maker, said. That Ledger won’t introduce the new feature before publishing its open source code.

Ledger does not release all of its product codes to the public. But, according to Gauthier, the company has now learned a lesson from its “unintentional mistake in communicating” with the audience. And it will be publishing operating system and tool codes on an expedited basis.

“We’ve decided to accelerate the data discovery roadmap! We will open up as much Ledger operating system code as possible, starting with the core components of the OS, and LedgerRecover. Which will not be released until this work is completed,” he wrote.

Code openness won’t affect the security of the device or improve it in any way, the company promises. But it will make the information transparent to users. And experts will be able to verify that malicious codes are not present in the devices’ software.

A solo-mode miner was able to mine a block of Bitcoin on equipment with a processing power of 750 TH/s

On May 23, a single miner with a processing power of 750 TH/s. He successfully mined a block of Bitcoin numbered 790,958. This was reported by the administrator of Skrool pool Kon Kolivas.

The miner received a reward for the found block in the amount of 6.25 BTC (about $170,000 at the rate of $27,300).

Total hashing speed in the Bitcoin network on May 23 was 367.07 EH/s. 1 EH/s equals 1 million TH/s. Having a processing power of only 750 TH/s. This lucky miner had only 1 chance out of 489 thousand to successfully find a block.

Lucky miner – a member of the pool for solo-mining Skrool. And he will pay 2% commission (0.125 BTC, or about $3.4k). But in addition to the fee for mining the block, he receives a fee for the transaction. Which in this block was 0.249 BTC ($6.7 thousand).

With the current difficulty of mining with that kind of processing power, a miner can mine a block once every nine years on average. Meanwhile, the difficulty of mining the first cryptocurrency is growing. Since the beginning of the year, it has increased by 40%, and on May 18, the figure renewed its historical high.

Our experts note that in January 2022, a single miner with computing power of 126 TH/s mined a block of Bitcoin and received a reward of 6.25 BTC. And that was approximately $270,000 at the rate of $42,800. His odds were equal to one in 1.36 million

Our experts tell you what you need to know about blockchain interaction technology. And a possible airdrop of the LayerZero project, supported by leading venture capitalists

In April, LayerZero Labs, a company that creates technology to help existing blockchains interact with each other. And announced it had raised $120 million in an investment round led by a16z crypto. This is the cryptocurrency arm of venture capital firm Andreesen Horowitz.

The project, launched less than two years ago, has a total investment of $250 million at the time of publication. This is not the first time for LayerZero the large-scale funding round is one of the largest among cryptocurrency companies in 2023. And LayerZero Labs’ valuation of $3 billion puts it on par with market giants like Coinbase, which has a market capitalization of more than $13 billion.

Along with heavyweights Andreesen Horowitz and Sequoia Capital, more than 30 investors have invested in LayerZero Labs. And including the venture capital units of Samsung, auction house Christie’s, USDC stabcoin issuer Circle, NFT-marketplace OpenSea, cryptocurrency exchange OKX and others. Participation of representatives of different spheres of activity. At the same time, directly or indirectly related to the crypto-business, probably, indicates the demand for solutions of this project. And their subsequent integration into a wide range of services of Web3 segment.

Interaction of different blockchains with each other

LayerZero Labs co-founder and CEO Brian Pellegrino has assembled a team of developers to tackle the problem of insularity of various blockchains. And the crypto-assets and applications that exist on them. He himself calls LayerZero a “messaging protocol” . That is, software code that allows application developers to send data, for example, from Ethereum to Solana.

By “messaging” is meant a variety of scenarios and operations. This includes, among others, converting coins or tokens from one network into coins or tokens in another. Thanks to the so-called bridges that use LayerZero, this transfer is faster. It is also cheaper and more convenient compared to existing solutions – both decentralized and those that involve an intermediary in the form of an exchange or an exchanger.

What blockchain bridges are and why they are needed

In a press release accompanying the April investment round, a16z lead partner Ali Yahya said. That there are already more transactions flowing through LayerZero than all existing bridges in known ecosystems. He added that “there is already no doubt” that the future of cryptocurrencies is “multichain.” That is, the process of interconnecting multiple blockchains and the assets, services and applications that exist on them. LayerZero already uses decentralized crypto exchanges, including PancakeSwap, SushiSwap, TraderJoe and Uniswap.

Pellegrino dropped out of college to become a professional poker player. When the U.S. government banned online poker in 2011, he already had the capital to launch his first startups. While studying computer science in college, he created a fantasy sports website. Which he sold two years after launching. Then his entrepreneurial career continued: he worked with professional baseball teams. And did research on machine learning algorithms and launched another business before LayerZero.

LayerZero Labs now employs 42 people and is co-founded by Ryan Zarick. Employees work from offices in Vancouver and Hong Kong. The company earns money by charging a commission for every interaction with its protocol. But Pellegrino said the significant amount of funding allows the company to focus on more global goals than maximizing profits alone.

Partners plans to continue to dominate the growing field of companies That offer developers ways to transfer data between different blockchains. LayerZero’s competitors include the Cosmos project. In which developers also position it as a protocol by which different blockchains can send and receive data.

“Our goal is to win and capture the whole market in this niche,” Pellegrino told Fortune. He said LayerZero is using investor funds to expand its Web3-gaming presence. It’s also expanding into the Asia-Pacific region.

Possible Airdrop by LayerZero

LayerZero is known not only for in-demand technical solutions and billion-dollar business valuation. Participants of the cryptocommunity consider the project to be one of the main candidates for a major airdrop.

The company itself has not announced the distribution, as well as the launch of its own token in principle. But certain business patterns and a significant amount of venture capital investment act as indirect evidence That LayerZero may follow the example of sensational airdrop projects such as Aptos, Blur, Optimism or Arbitrum. The latter went beyond the cryptocurrency community in terms of hype. When it became widely known that the participants of the giveaway received tokens worth thousands of dollars.

Service developers often don’t announce the token at launch. But similar parameters in doing business, as well as the experience of their competitors, help community members determine. Which projects will decide sooner or later to release their own asset. And which types of activity can be rewarded.

Even before the sensational distribution of tokens from Arbitrum by so-called drophunters, it was LayerZero that was in the list of the most obvious contenders.

It’s easy to find instructions or detailed checklists with a set of project activities in blogs, thematic channels or chat rooms. Who are using LayerZero solutions, claiming airdrop. It even goes so far that even quite large resources publish instructions on how to participate in an unannounced airdrop, such as the OKX exchange blog. Most of them duplicate each other in one way or another. For example, a potential candidate for distribution must be active in social networks of the project. And attract new members, use existing services in the test network, etc.

It remains to be seen how developers will react to this, if they actually arrange an airdrop. One way or another, from a financial point of view they benefit from any interaction with the protocol. Both from a really interested in the project, and from another “airdrop hunter”.

Mining company Marathon Digital itself has pledged up to $500,000 to develop the Bitcoin Core group by the end of 2023

Marathon Digital Holdings announced a partnership with Brink to raise up to $1 million to support Bitcoin developers Bitcoin Core. Marathon has promised to contribute up to $500,000 by the end of 2023.

Bitcoin Core is a client (software) for the Bitcoin network operated by an independent group of developers. They maintain the blockchain. And also write updates and make decisions on improvements to the first cryptocurrency network. They also maintain the main repository of the protocol on GitHub.

Brink, a non-profit company, is dedicated to supporting the Bitcoin developer community through scholarship and grant programs. The firm was founded in 2020 with funding from John Pfeffer and Vences Casares. The company’s website states that it is 100% funded by donations from individuals. As well as organizations that want to support the Bitcoin network and protocol.

Marathon and Brink have set a goal of raising up to $1 million for Bitcoin Core developers. They announced the fundraiser at the Bitcoin 2023 conference, taking place May 18-21 in Miami, USA. Marathon has pledged to double all contributions from other participants up to $500k by the end of the year, so if the amount of donations from third parties reaches $500k. Then Marathon Digital will also contribute $500k and the $1 million plan will be met.

Our experts note that Marathon Digital is one of the largest Bitcoin miners. The public U.S. company has tens of thousands of cryptocurrency mining devices in data centers in North Dakota, Ohio and Texas. At the end of the first quarter of 2023, Marathon had $1.3 billion in assets, and about $715 million of that was in hardware and $189 million in digital assets.

This new product from the MicroBT WhatsMiner line of machines can deliver hashing speeds of up to 320 TH/s. At the same time, it outperforms similar devices from competitor Bitmain

Chinese mining equipment manufacturer MicroBT unveiled three new mining devices at the Bitcoin2023 conference in Miami. And one of which was the most powerful one currently available on the market.

WhatsMiner M53S ++, has a computing power of up to 320 TH/s with an efficiency of 22 J/TH. This device is more powerful, but more power-consuming. Compared to competitor Bitmain’s counterpart, the Antminer S19 XP Hydro, which produces speeds up to 257 TH/s and has an efficiency of 20.8 J/TH. MicroBT founder and CEO Zuoxing Yan said this.

Our experts point out that the efficiency of WhatsMiner equipment is measured in joules per terahesh (J/TH) – the amount of energy expended to generate one terahesh of hashrate. If the efficiency of the WhatsMiner M53S++ is about 22 J/TH. That means that this device uses about 22 J of energy to generate one hashrate terrahesh.

It takes 7,040 J to generate 320 terrahes per second.
In an hour, 25.34 million J
1 kWh = 3.6 million J
25.34 million / 3.6 million = 7.038
So the device will consume about 7 kW per hour

The other two models presented were the M50S ++, air-cooled and with a computing power of 150 TH/s, and the M56S ++. And also with immersion cooling, this unit can deliver 230 TH/s. The efficiency of both machines is 22 J/TH.

MicroBT believes that the energy crisis and global warming will lead to the modernization of power supplies for mining. And they call “green energy” the best solution. In this regard, MicroBT is working to make WhatsMiner devices better suited to the use of solar energy. That is, from an energy source that corresponds to the decentralization of the Bitcoin network.