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Decentralized finance and artificial intelligence
Crypto finance might sound good like science fiction. But this is our reality. Currently, in decentralized finance programs all over the internet changePeople exchange, borrow and lend digital assets on platforms where computer code is running the show. Currently, approximately $235 billion has been invested in DeFi. a sector account.
in DeFi protocol To connect, a Recent programming snafu has uncovered vulnerabilities in systems deliberately designed to eliminate intermediary regulators traditionally relied on to oversee financial transactions and guarantee consumer protection. The company said that $160 million of the cryptocurrency was at risk of improper distribution after a bug was discovered during a software upgrade, of which about $90 million was actually paid incorrectly.
Technically, Compound is just software programming for transactions, not trading brokerage. But its founder, Robert Leshner, admitted in an interview with The New York Times this summer that he had long feared that one mistake could result in huge losses. “I woke up in a cold sweat every morning for the first few years of Comound,” he said.
Started in 2017, the company now claims to have $18 billion interest-bearing cryptocurrency value on its platform. Mr. Leshner’s recurring nightmare was someone finding a flaw in the program, a set of bad codes and stealing everything. “All it takes is an insect,” he said.
Community telecommunications
It supports a network called A16Z Helium. This “decentralized wireless infrastructure” company hopes to one day compete with established brands like Verizon or AT&T. Community members create a hotspot with a special device in their neighborhood and earn data and Helium’s crypto tokens in exchange for helping power the group’s 5G cellular system.
Social networks
The value of popularity on social networks can now be calculated when you “tokenize” yourself and create an economy powered by your own cryptocurrency.
Open BitClout, each user gets a coin and its value shows what the internet thinks about them. “There’s no company behind it – just coins and codes,” the developers say. An account named Elon Musk is the most valuable token at around $115. But the launch of the project was controversial, and crypto insiders “dystopian social network” for relying on data collected by giants like Twitter to calculate reputation, among other criticisms. DeSoThe acronym for Decentralized Social is a blockchain network for developers to build decentralized social media programs.
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