Fun

News Feed - 2023-11-09 05:11:20

Arijit Sarkar56 minutes agoAI infrastructure startup Ritual raises $25M to fill gaps in cryptoRitual’s AI models can help address new use cases in crypto, such as automatically managing risk parameters for lending protocols based on real-time market conditions.260 Total views21 Total sharesListen to article 0:00NewsJoin us on social networksDecentralized artificial intelligence (AI) network Ritual came out of stealth mode to announce a $25 million Series A financing for the company, led by Archetype. The company offers an AI-powered infrastructure that aims to execute complex logic currently beyond smart contracts.


While AI adoption maintains an uptrend across all business verticals, issues such as high compute costs, limited hardware access and centralized APIs hinder the full potential of the current AI stack. As explained in Ritual’s introductory post:“The grand vision for Ritual is to become the schelling point of AI in the web3 space by evolving Infernet into a modular suite of execution layers that interop with other base layer infrastructure in the ecosystem, allowing every protocol and application on any chain to use Ritual as a AI Coprocessor.”


The introduction of such AI models in crypto — from base layer infrastructure to applications — can help address new use cases, such as automatically managing risk parameters for lending protocols based on real-time market conditions.Ritual protocol diagram. Source: ritual.global


Ritual’s protocol diagram reveals the use of modular execution layers revolving around AI models. The GMP layer — consisting of layer 1, rollups and sovereign — “facilitates interop between existing blockchains and Ritual Superchain, which functions as an AI coprocessor for all blockchains.”


Investors including Balaji Srinivasan, Accomplice, Robot Ventures, Accel, Dialectic, Anagram, Avra and Hypersphere joined the $25 million Series A funding round. The funding will be used to grow Ritual’s developer network and start seeding the network.


Related:Visa launches global AI advisory practice focused on generative systems


The vagueness presented in the recent executive order on AI safety from the Biden administration raised concerns among the AI community over stifling innovation.My Executive Order on AI is a testament to what we stand for:

Safety, security, and trust. pic.twitter.com/rmBUQoheKp— President Biden (@POTUS) October 31, 2023


The order established six new standards for AI safety and security, which include sweeping mandates, such as sharing the results of safety tests with officials for companies developing “any foundation model that poses a serious risk to national security, national economic security, or national public health and safety,” and “accelerating the development and use of privacy-preserving techniques.”


Magazine:Crypto City: The ultimate guide to Vancouver# Adoption# Markets# AI# Trading# zk-RollupAdd reactionAdd reactionRead moreCan blockchain solutions disrupt US inflation forecasting?Pay and dump? How businesses accepting crypto payments influence adoptionBitcoin beyond 35K for Christmas? Thank Jerome Powell if it happens

News Feed

Ray Dalio Admits He May Be Wrong About Bitcoin But Still Concerned of Government Ban
Ray Dalio Admits He May Be Wrong About Bitcoin But Still Concerned of Government Ban Billionaire hedge fund manager Ray Dalio has admitted that he may be wrong a
Is the Bitcoin halving the right time to invest in BTC?
Zoltan Vardai4 hours agoIs the Bitcoin halving the right time to invest in BTC?While Bitcoin’s pre-halving rallies are historically profitable for investors, analysts expect the biggest gains to come after the halving,
Report: Softbank’s Internet Firm Z Holdings Plans to Launch NFT Mall in 180 Countries
Report: Softbank"s Internet Firm Z Holdings Plans to Launch NFT Mall in 180 Countries Z Holdings, the internet subsidiary of the Japanese conglomerate holding company Softbank, is
Overstock’s Venture Arm Invests $2 Million in Blockchain ID Firm
Blockchain-based identity firm Evernym has received a $2 million investment from Overstock subsidiary Medici Ventures, according to a release from the company. Medici Ventures pa
Tom Blackstone12 hours agoCoinbase’s Base launches mainnet for builders, will onboard users in AugustBase’s layer-2 mainnet has launched, allowing builders to deploy contracts, while users will be welcomed to the net
Tristan Greene5 hours agoToyota GR Cup will award digital trophies on Polygon blockchain to race winnersToyota continues its ongoing exploration into integrating blockchain technology within its corporate and development
Ezra Reguerra13 hours agoMiner returns over $500K in BTC transaction fee overpayment to PaxosBitcoin explorer Mempool shared blockchain data that confirmed the funds were sent back on Sept. 15.3841 Total views40 Total sh
Ethereum Has Burned More Than a Million ETH Over the Last 3 Months
Ethereum Has Burned More Than a Million ETH Over the Last 3 Months 111 days ago, the Ethereum network implemented the London hard fork upgrade which added a mechanism (EIP-1559) th
Cointelegraph Accelerator7 hours agoRevolutionizing whitelist marketplace for Web3: WhiteList Zone partners with Cointelegraph AcceleratorThe whitelist marketplace WhiteList Zone onboarded over 50 projects that collectiv
SportIcon Launches Innovative NFT Platform That Connects Fans With Exclusive Athlete Content
SportIcon Launches Innovative NFT Platform That Connects Fans With Exclusive Athlete Content press release PRESS RELEASE. NFTs have emerged as a unique digital asset in the past 24
Binance-backed Magic Square IDO platform to democratize retail investor access
Zoltan Vardai10 hours agoBinance-backed Magic Square IDO platform to democratize retail investor accessIDO launchpads are becoming a popular way to raise funds for projects, with some IDOs reaching nearly half a billion
BIS, Bank of England unveil Project Pyxtrial for stablecoin monitoring
Derek Andersen2 hours agoBIS, Bank of England unveil Project Pyxtrial for stablecoin monitoringThe proof-of-concept showed that real-time monitoring of stablecoin reserves could be achieved with cooperation among regulat