Crypto_NFT

2022-09-26 17:18:04 ​​Nvidia taught AI to generate three-dimensional objects

Nvidia has unveiled the GET3D artificial intelligence model, which generates characters, buildings, vehicles, and other 3D objects.

According to the developers, the model creates about 20 objects per second using a single GPU.

GET3D was trained on a data set of 2D images of 3D objects taken from different angles. Nvidia said it took them two days to load about a million images into a model using A100 GPUs.

Based on the training set of vehicle photos, GET3D created sedans, trucks, racing cars, and vans. She can also generate foxes, rhinos, horses, and bears after being trained on animal images.

“The larger and more varied the training set loaded into GET3D, the more varied and detailed the result,” the developers said.

According to Nvidia spokeswoman Isha Salian, the system is capable of generating objects with high-quality textures and complex geometric details.

“The objects generated by GET3D are shaped like a triangular mesh, similar to a papier-mâché model, covered with a textured material,” she added.

Users can quickly import objects into game engines and renderers for editing. GET3D creates them in compatible formats, the company noted.

Recall that in October, Nvidia held the GTC 2022 conference, at which it introduced new video accelerators, tools for AI developers, and the Omniverse cloud platform.

The next day, the company announced the RTX 6000 professional GPU for AI engineers, artists, and researchers. Open / Comment

2022-09-26 17:13:15 ​​Analysts have recorded an outflow of funds from bearish Bitcoin funds

From September 17 to September 23, $5.1 million was withdrawn from the structures that allow opening shorts on the first cryptocurrency. Before that, an influx was recorded for seven weeks in a row, as a result of which their AUM reached a record $172 million, CoinShares analysts write.

Receipts of funds in cryptocurrency investment products in general for the reporting period amounted to $8.3 million compared to $7.3 million a week earlier.

Traditional bitcoin funds saw an inflow of $2.6 million ($17 million a week ago).

The outflow from Ethereum funds over the previous four weeks in a row was replaced by an inflow of $6.9 million. Among the products based on other altcoins, those based on XRP ($0.5 million) stood out.

Crypto Basket Funds Raise $1.8M

In August, former hedge fund manager Cramer & Co. and CNBC's Mad Money host Jim Cramer said the Fed's monetary tightening will "wash out" speculative assets like cryptocurrencies. Open / Comment

2022-09-26 17:10:59 ​​Interpol issued a "red notice" to Do Kwon

Interpol issued a "red notice" about the detention of Terraform Labs (TFL) CEO Do Kwon. Bloomberg writes about this with reference to the Seoul Prosecutor's Office (South Korea).

According to the procedure, the law enforcement agencies of 195 countries will receive the request. There is no Do Kwon card on the website of the organization yet. Interpol did not respond to the publication's request.

The collapse of the Terra ecosystem had serious implications for the digital asset market. The depreciation of LUNA and the algorithmic stablecoin UST caused significant damage to Anchor Protocol users.

The incident also affected the solvency of large industry players: cryptolending platform Celsius was one of the largest holders of UST, and hedge fund Three Arrows Capital invested about $200 million in LUNA as part of the February token sale.

The situation around the project has attracted the attention of South Korean regulators. The Seoul Southern District Prosecutor's Office also became interested in the activities of the TFL.

In June 2022, investors accused Terraform Labs and Kwon personally of making false statements regarding the stability of the UST.

In the same month, the company's CEO said that he did not consider himself a fraud. He also denied accusations of withdrawing $2.7 billion from the Terra ecosystem before its collapse.

In July, the Seoul Southern District Attorney's Office raided the home of TFL co-founder Daniel Shin and the office of early investor Dunamu & Partners.

Recall, on September 14, a South Korean court issued an arrest warrant for Do Kwon and five other people. According to media reports, the prosecutor's office appealed to the Foreign Ministry with a request to cancel their passports.

On September 17, the head of the TFL stated that he was not "on the run" and was cooperating with law enforcement. He stressed that he was not going to disclose his location to strangers.

Later, the South Korean authorities sent a request to Interpol to issue a "red notice" for Kwon. Open / Comment

2022-09-25 18:35:42 ​​Vitalik Buterin allowed the migration of Zcash and Dogecoin to the Proof-of-Stake algorithm

As the Proof-of-Stake (PoS) consensus algorithm evolves, more networks will use it instead of Proof-of-Work. In particular, the mechanism can be implemented by Zcash and Dogecoin, Ethereum co-founder Vitalik Buterin said at the Mainnet conference.

Asked by Messari founder Ryan Selkis about whether other projects will follow in the footsteps of Ethereum, Buterin replied:

“I would say they should… As PoS matures, I would expect its legitimacy to increase over time. I hope Zcash and Dogecoin move to PoS.”

On September 15, 2020, The Megre update was activated in Ethereum, which switched the blockchain to the Proof-of-Stake algorithm and reduced its energy consumption by 99%. The upgrade also set the stage for the network's next phase, The Surge. The latter, according to Buterin, will be "a much less one-time event."

Earlier, the Electric Coin Company presented a roadmap for the development of Zcash until 2025. The plan also involves the transition of the network to PoS. Among the advantages of this solution, the developers called the reduction of pressure on cryptocurrency quotes.

The Dogecoin team also hinted at the possibility of migrating the project to PoS. In December 2021, the non-profit organization Dogecoin Foundation announced that it was working with Buterin on a mechanism for staking the meme-cryptocurrency.

At the same time, one of the lead developers, Ross Nicholl, said that he “would like to see how PoS is being studied.” According to him, for this he would have to "convince a lot of people." Open / Comment

2022-09-25 18:32:30 ​​CoinFLEX Lenders Supported Platform Business Restructuring Plan Early

Lenders of the cryptocurrency derivatives platform CoinFLEX overwhelmingly supported the proposal to restructure the company's business ahead of schedule.

The survey, which runs on the Snapshot platform, will end on September 27th. However, just a few hours after the start of the process, tokens representing 99.96% of the creditors' assets were blocked in favor of the offer.

The CoinFLEX business restructuring plan assumes that 65% of the company's capital will be transferred to creditors, another 15% to the ESOP team, and Series B investors will remain shareholders.

As a reminder, on June 24, 2022, CoinFLEX suspended user withdrawals due to “extreme market conditions” and “counterparty uncertainty.”

Lamb later revealed that the counterparty in question is Bitcoin.com founder Roger Ver, who owes $47 million to CoinFLEX. Since Bitcoin Jesus failed to meet its obligations, the company sent him a notice of default.

The firm applied to the Hong Kong International Arbitration Center to recover the debt from Ver. The platform’s initial damage assessment was called incorrect because it did not take into account the Bitcoin.com founder’s “significant” debt in FLEX tokens.

In July, CoinFLEX announced the resumption of limited withdrawals and announced a reduction in staff.

In August, the platform filed a restructuring application with the Seychelles Court. Open / Comment

2022-09-25 18:29:37 ​​Binance Will Introduce a Trading Tax for Terra Classic Once a Quorum of Traders Is Reached

Binance Exchange will introduce a transaction tax subscription for transactions with Terra Classic (LUNC). If the trading volume of the program participants reaches 50% of the total asset on the platform, the fee will be distributed to all clients, said the head of the company, Changpeng Zhao.

On August 26, 2022, the v22 update was activated in Terra Classic, which introduced a transaction tax of 1.2% into the blockchain. The network withdraws the cryptocurrency received as part of these fees, putting deflationary pressure on the LUNC supply.

At the time, the Terra Rebels initiative group behind the development of the update emphasized that the team could not tax off-chain transactions, in particular, operations on centralized platforms.

The tax is valid from 21 September. On the first day, the system burned over 80 million coins.

Some cryptocurrency exchanges like KuCoin have supported the introduction of the fee. However, Binance initially stated that this tax would not be charged on the platform.

Ultimately, the company decided to "listen to the community," Zhao said. The transaction tax will be introduced through the subscription feature in two stages, if certain conditions are met at each.

Binance will start taxing program subscribers when their trading volume with LUNC reaches 25% of the total asset on the platform. After reaching the level of 50%, the fee will be distributed to all traders of the exchange who interact with Terra Classic.

“If the specified thresholds are not met within a month of the implementation of the subscription, or fall below this level again in the future, we will remove the feature to maintain a simpler user experience,” Zhao added.

Some community members supported the exchange's decision. However, there is also an opposing view. For example, analyst FatMan called the move "pretty stupid."

“It's pretty stupid. Anyone who wants to burn 1.2% of [LUNC] can safely send the relevant percentage of their balance to the burn address. Nobody stops them. This does not require a Binance feature. To be honest, most of these people want others to take the coins out of circulation. They will not do it themselves,” he wrote.

One of the validators of the Terra Classic ecosystem noted that the mechanism proposed by Zhao "has a near-zero chance of success."

“In his latest article, [Zhao] gives the impression that the subscription approach is a reasonable democratic process, even though he understands logically that there is almost 0% chance that it will ever work,” he wrote.

According to the validator, taxes only work when they are “universal” and apply to everyone. He emphasized that the Terra Classic community had already voted for this.

In May 2022, Zhao revealed that Binance is one of the largest investors in Terraform Labs. Open / Comment

2022-09-23 17:40:06 ​​Twitter Users Doubt Bitcoin Has Hit the Bottom

The bitcoin bear market has not yet reached its final stage, and investors should prepare for a further fall. This opinion was expressed by some participants in the Cointelegraph poll on Twitter.

“Most likely, this is not the bottom. Be prepared for bitcoin to drop lower. This winter will be hard,” wrote one of the survey participants.

Another user added his September 22 tweet to the thread, where he ironically pointed out “every bitcoin bottom” on the daily chart.

More serious analytics will be presented by a user under the pseudonym btc_MasterPlan.

“It’s not the bottom yet, but if you want to buy now and hold [position], that’s fine too,” wrote one commenter.

However, there were those who are more optimistic. The BlockCapt account expressed hope that the price of the first cryptocurrency has bottomed out “to resume the fun that has been on pause for a long time.”

Another user suggested that Bitcoin has a “big turn” ahead.

On September 21, the price of bitcoin fell through the $19,000 level after the Fed meeting. The regulator raised the range of the key rate by 75 basis points at once, to 3-3.25%, and announced its intention to further reduce the holdings of treasury and mortgage securities.

At the time of writing, the first cryptocurrency has returned to levels above $19,000. Over the past day, the asset has fallen in price by 1.2%, according to CoinGecko. Open / Comment

2022-09-23 17:35:04 ​​Tether adds support for the Polkadot blockchain

The issuer of USDT, Tether Operations Limited, has announced support for the Polkadot blockchain. It became the 14th network in which the stablecoin operates.

“The addition of Tether to the Polkadot ecosystem is another major milestone […]. This will mitigate the potential adverse effects associated with market volatility,” the statement said.

Tether stablecoin also runs on Algorand, Avalanche, Simple Ledger Protocol, Ethereum, EOS, Kusama, Liquid Network, Polygon, Tezos, Tron, Solana, and Statemine.

In September, the company announced the launch of USDT on the NEAR network.

Previously, Polkadot developers introduced the XCM cross-chain solution, which provides communication between various parallel blockchains in the ecosystem. Open / Comment

2022-09-23 17:32:46 ​​Cardano network activates Vasil hard fork

On September 23rd at 01:44 AM (Kyiv/UTC), the Input Output Global (IOG) team successfully activated the Vasil update on the Cardano mainnet. Some changes will take effect with the start of the new era - September 27th.

“Vasil will significantly increase the performance and potential of Cardano, from increasing throughput through diffusion pipelining [block propagation time optimization] to improving the developer experience with faster and more efficient scripts, as well as lowering costs,” IOG said.

According to Cardanoscan, at the time of writing, the project network is operating normally and producing blocks. Ecosystem participants reported that after the activation of the update, the blockchain passed stress testing.

With Vasil, the developers introduced the second version of the Plutus scripts to the blockchain and modified the cost calculation model for each primitive, reducing its individual parameters. IOG believes that this step will reduce the cost of performing operations by 20-30%.

“Vasil will extend the power of Cardano smart contracts with Plutus V2 scripts and a cost model that improves the efficiency of an already powerful platform. Ultimately, this will reduce the cost of executing scripts and the size of transactions, as well as increase throughput,” wrote Frederik Gregaard, head of the Cardano Foundation. Open / Comment

2022-09-22 09:59:04 ​​Revolut Expands Supported Crypto Assets for US Customers

Fintech company Revolut announced the addition of 29 new crypto assets available to US customers. The Block writes about it.

Among them are Dogecoin, Solana, Avalanche, Shiba Inu. The full list is not specified. Some cryptocurrencies require NYDFS approval.

The initiative has become part of a program to expand services related to digital assets. In the future, it is planned to add a crypto wallet and staking.

Apex Crypto acted as a partner.

In August, Revolut ended its partnership with Paxos. The firm explained the decision by the possibility of expanding the number of supported cryptocurrencies and adding new functionality.

The company expects to win market share from Coinbase and Robinhood.

“We have more than quadrupled our portfolio of cryptocurrencies to provide our clients with access to a much more diversified offering,” said Mazen Eljundi, head of Revolut’s global digital asset business.

The top manager recalled that the company does not charge commissions for transactions with cryptocurrencies up to $200,000 per month. Revolut introduced this pricing plan in October 2021. Open / Comment