terça-feira, 30 de janeiro de 2024

Three Ways to Promote NFTs in 2024

Non-fungible tokens (NFTs) are one of the emerging technologies that took 2020 and 2021 by storm. Over those two years, the NFT market rose to over $11 billion, with February 2022 seeing over 400,000 users per week across sites like OpenSea and Mints. As the industry continued to build excitement around it, prices and user interest skyrocketed.

During the crypto winter, following several major crashes and industry-shifting events, the NFT market began to suddenly drop. However, while there was a major market value decrease, the NFT market is still alive and well in 2023. While many still see the meme sale events as the principle of what the NFT market has achieved, those in this industry know this to be far from the truth.

From Play2Earn games to online digital asset trading and the entire GameFI industry, NFTs have embedded themselves all across the world of Web 3 and blockchain. Especially in 2023, where many of the less-active NFT creators have faded away, there has never been a better time to launch NFT collections.

In this article, we’ll turn back to this emerging market, tracing the three best ways to promote NFTs in 2023. We’ll cover:

Let’s dive right in.

Press releases are one of the most effective ways of communicating updates about a company, a brand, or a non-profit. Yet, this media format is far from exclusive to those areas, with NFTs also making a perfect candidate for distributing information via news networks. Whenever an artist makes a new collection or wants to share the success of their current works, a press release can be an enormously powerful tool.

Especially when working with an NFT press release distribution service that already has access to well-established networks of news services, it becomes easier than ever to promote your NFTs. By engaging with these networks, you can distribute content across high-profile sites in the blockchain community, putting information about your NFT collection right in front of the exact people who will be most interested in them.

As NFT news isn’t nearly as popular as it once was, the ability to reach the front page of these sites will stir up excitement around your project and ensure that people take notice. Teams can submit crypto press release for NFT projects.

Considering the high concentration of investors on crypto and blockchain-related news websites, placing information about new NFT projects here is one of the most effective ways of promoting new collections.

Social media is a central playing field that drives connection. Especially in the world of NFTs, where 1:1 sales drive the industry, forming impactful connections over social media can be one of the most effective ways of generating interest in your NFT projects. Social media allows you to post previews of your NFT projects and snapshots of your progress, drawing attention to you and helping you find potential buyers.

There are several different social media sites that you can use to promote your NFTs:

Across the board, these sites will help you find an audience that loves your work and wants to see you thrive.

The art space, in general, not even specifically linked to the NFT market, is one that thrives on influencer marketing. Especially on sites like Instagram, which provides a visual platform where users can scroll through artwork and find something they love, NFT displays can do extremely well.

Beyond just cultivating your own audience on social media, you’re also able to generate interest in your NFT project by working with influencers that already have a large audience. The influencer marketing industry is now worth well over $21.1 billion, making it one of the fastest-growing forms of advertising in the world.

By working with influencers, you can put your NFT projects right in front of interested parties. Yet, unlike with other methods like press releases or your social media, the people who then see your sponsored content will already have a strong positive connection with that influencer. If an influencer shows your artwork to their audience, they’ll be able to strike up an instant connection to your work.

The NFT market – while also driven by money and investing – is one that primarily comes back to an appreciation for art and the work that artists can create. By leaning into this factor, you’ll be able to find new groups of people to appreciate what you create. You’ll be able to then siphon new investors from influencer accounts, growing your audience as interest in your projects also increases.

The NFT market is on the point of surging upwards. Considering its past heights, now is the perfect time to refocus on building a range of exciting NFT projects and launching them to the Web 3 community. However, marketing in the world of NFTs is much easier said than done.

By following the strategies outlined in this article, you’ll be able to promote your NFT projects to a larger audience, rapidly commanding a following and growing interest in your next launch. You’ll be a thriving NFT artist in no time.

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

Bitcoin (BTC) Volatility Drops to Historic Low, Turbulence Coming?

Despite the overall recession on cryptocurrency markets caused by another phase of regulatory attacks, unprecedentedly low volatility remains the key factor that influences the performance of Bitcoin (BTC) and major altcoins in Q3, 2023.

The 30-day estimated Bitcoin (BTC) volatility - the average standard deviation of daily returns - dropped to the lowest levels since the Bitcoin (BTC) network launch. In the last 30 days, this indicator plummeted to 0.77%. As per the tracker by Buy Bitcoin Worldwide project, this is an absolute ATL for the largest cryptocurrency.

The previous low was registered in July 2020 below 1.5%. For the 60-day estimated Bitcoin (BTC) volatility chart, the recent local low was witnessed in January 2023 below 1.37%. Now, this indicator sits at 1.77%.

For Ethereum (ETH), the second largest cryptocurrency, both charts - the 30- and 60-day estimated volatility indicators - are also at historic lows and keep shrinking.

Litecoin (LTC), the "Digital Silver" and 11th largest cryptocurrency, was less volatile in 2016: its current volatility indicators are two to three times higher than they were seven years ago.

As covered by U.Today previously, major altcoin XRP witnessed an unprecedented volatility drop after its impressive 75% rally.

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The upsurge in price was catalyzed by Ripple's interim victory in the SEC's legal case.

As calculated by the experts of K33 Research (formerly Arcane), the five-day volatility of Bitcoin (BTC) surprisingly plummeted lower than that of gold (XAU) and the NASDAQ and S&P 500 indexes. On such a short timeframe, the ongoing drop is the third largest since Black Friday in Crypto of 2020.

Bitcoin's volatility dropped lower than Gold, Nasdaq and S&P500 last week 📉

Historically, such periods of low volatility have often been followed by surges in BTC volatility. Could this indicate an imminent price movement for bitcoin? pic.twitter.com/EvGYNd3tJI

Analysts also indicated that after such impressive volatility dropdowns, periods of market turbulence usually happen. As such, both bulls and bears should be prepared for incoming rapid moves.

Meanwhile, Bitcoin (BTC) yet again failed to protect the crucial $30,000 level. By press time, it is changing hands at $29,192 on major spot exchanges.

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

2023 in Crypto: Ripple’s Legal Win, Shiba Inu’s Shibarium Launch, and Bitcoin’s Price Surge

As 2023 comes to a close, it is time to recall this year's top cryptocurrency events, including high-profile arrests and regulatory triumphs. With its fair share of ups and downs, the crypto landscape has continued to evolve, bringing new challenges and opportunities. Let's embrace the holiday spirit and take a stroll through the most notable cryptocurrency events of 2023.

Starting our countdown at number ten, PayPal has launched its own stablecoin, PayPal USD (PYUSD), marking a significant step in its cryptocurrency journey since first engaging with the space in 2020. Pegged to the U.S. dollar and issued by Paxos Trust, PYUSD aims to enhance digital token adoption for payments. This launch followed PayPal's earlier initiatives, including enabling U.S. customers to buy, sell and hold select cryptocurrencies and use them for payments at global merchants.

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At number nine, Bill Gates expressed skepticism about Web3 and crypto, arguing that AI is a more significant technological shift. Gates, known for his cautious stance on crypto, advised against heavily investing in trends like Web3 and metaverse. Recalling the dot-com bubble, he emphasized the potential long-term impact of new technologies, which may not be immediately apparent. Gates' January comments align with his previous critical views on crypto and NFTs, focusing on issues like Bitcoin's high energy consumption.

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Eighth place is taken by the USDC stablecoin's depegging from its 1-to-1 dollar value in March, a significant event in the stablecoin arena that underscored the fragility of digital currencies amid traditional banking upheavals. This depegging, with values dropping as low as 94 cents on Kraken, was attributed to the fallout from Silicon Valley Bank's collapse. Concerns arose as an undisclosed portion of USDC's cash reserves were held at the failed bank.

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In March, South Korean officials confirmed the arrest of Terra founder Do Kwon in Montenegro. This followed the collapse of TerraUSD stablecoin and Luna token. An arrest warrant was issued by Seoul prosecutors, and Kwon was on Interpol's red notice. Despite his claims of not hiding, it was discovered that Kwon had fled to Serbia.

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At number six, the Shiba Inu ecosystem expanded with the launch of Shibarium in August, a development that, despite initial challenges, showcased the potential of Ethereum layer-2 networks to enhance transaction efficiency.

Shibarium, an Ethereum layer-2 network supported by SHIB tokens, aims to facilitate faster, more affordable, and private transactions off-chain while leveraging the security of the Ethereum blockchain.

The network's launch was initially marred by software bugs. Following a rocky start, the Shibarium network saw a remarkable recovery. The number of daily transactions and wallet addresses surged dramatically in late 2023, with the total number of transactions surpassing 200 million.

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Midway through our countdown, the conviction of Sam Bankman-Fried in November for multiple criminal charges, including securities fraud and money laundering, marks a significant moment of accountability in the crypto exchange sector. 

Prosecutors demonstrated that he and his top lieutenants secretly diverted billions of dollars in customer assets from FTX to Alameda Research, a private trading firm he also controlled. The trial revealed Bankman-Fried's manipulation of funds for personal and political gains, contrasting sharply with his public persona. He is facing decades in prison.

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Advancing to number four, BlackRock's filing for a spot Bitcoin ETF set a precedent in the asset management industry, signaling the growing acceptance of cryptocurrencies among mainstream financial institutions.

This development from such a significant firm has created a realistic possibility of the SEC approving such an ETF. The action has set a precedent, encouraging other firms to follow suit. The SEC is widely anticipated to approve a spot Bitcoin ETF in early January.

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One of the biggest events in the cryptocurrency world in 2023 has been the remarkable surge in the value of Bitcoin, with an increase of 157.06%. This rally was highlighted by Bitcoin surpassing the significant milestone of $44,000, marking a substantial rebound and drawing considerable attention from investors and analysts on the crypto market. This achievement not only underscores Bitcoin's resilience and ongoing relevance in the digital currency space.

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At number two, Changpeng Zhao's decision to resign and plead guilty to U.S. anti-money laundering law violations marked the end of an entire era. This decision was part of a significant agreement to protect the cryptocurrency giant. Binance agreed to admit to criminal misconduct and pay a $4.3 billion fine to settle both criminal and civil charges.

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Ripple's significant legal victory over the SEC in July has topped our 2023 countdown. U.S. District Judge Analisa Torres decided that Ripple Labs Inc's sale of XRP tokens on public exchanges did not violate federal securities law. This was a groundbreaking victory for Ripple and the wider cryptocurrency industry.

This legal victory for Ripple has had a significant impact, leading to the relisting of XRP on various cryptocurrency exchanges. 

The court not only rejected the regulator's motion for an interlocutory appeal but also dropped charges against Ripple executives Brad Garlinghouse and Chris Larsen.

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Let's look forward to 2024 with anticipation and the wisdom gleaned from the past year. Happy Holidays and a prosperous New Year to the crypto community!

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

Bitcoin Miners Smash Records With $1.51B Monthly Revenue; How Will It Impact BTC Price?

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

In the latest development, Bitcoin (BTC) miners have reported unprecedented monthly revenue of $1.51 billion in December 2023. This astronomical figure, shared by crypto analyst and YouTuber Sumit Kapoor via X (formerly Twitter), surpasses the previous record set in May, where miners earned $919.22 million, including $125.92 million from on-chain fees.

In December 2023, #Bitcoin miners made a record-breaking monthly revenue of $1.51 billion by discovering blocks and verifying transactions.

This includes $324.83 million earned from on-chain fees.

This beats the previous record set in May, when miners earned $919.22 million,… pic.twitter.com/9Hd6pwfzu4

The surge in monthly revenue is attributed to the miners' relentless efforts in discovering blocks and verifying transactions on the Bitcoin blockchain. Kapoor highlighted that the $1.51 billion includes an impressive $324.83 million earned from on-chain fees alone, showcasing the growing importance of transaction fees in the overall revenue generated by Bitcoin miners.

Jameson Lopp, a renowned software engineer and advocate for Bitcoin, provided further insights into the surge in transaction fees. According to his tweet, transaction fees collected by Bitcoin miners averaged nearly $2 million per day throughout 2023, marking a staggering 400% increase compared to the previous year. This substantial growth in transaction fees emphasizes the robustness and increasing demand for Bitcoin transactions.

The news of miners smashing revenue records has sparked significant interest and speculation within the cryptocurrency community. Analysts and enthusiasts are now closely monitoring the potential impact of this unprecedented revenue on the price of Bitcoin itself. As of the latest market data, the current price of Bitcoin stands at $42,637, reflecting a modest increase of 0.22% in the last 24 hours.

Over the past year, Bitcoin has experienced an impressive surge, with its value soaring by 157.50%. The positive market performance over the year, coupled with the record-breaking monthly revenue for miners, has stirred discussions on the potential correlation between mining revenue and the Bitcoin price.

Market analysts and experts are debating whether the surge in mining revenue could translate into a bullish trend for Bitcoin, potentially driving the cryptocurrency to new all-time highs. Bitcoin's decentralized nature and limited supply have historically been key drivers of its value. The increased revenue for miners may further enhance the cryptocurrency's attractiveness, especially as institutional interest continues to grow.

Investors and enthusiasts are eagerly awaiting further developments, as the cryptocurrency market remains dynamic and subject to rapid shifts. The record-breaking monthly revenue for Bitcoin miners undoubtedly adds a new layer of intrigue and anticipation to the ongoing narrative surrounding the world's leading cryptocurrency.

With over three years of immersive experience in the crypto industry, Mushumir is a seasoned crypto writer dedicated to unraveling the complexities of blockchain technology and decentralized finance. From dissecting the latest blockchain innovations to demystifying trading strategies, he brings a unique blend of technical insight and communicative flair to the crypto space. Having penned countless articles, analyses, and market reports, Mushumir has developed a distinctive voice that resonates with both seasoned investors and crypto newcomers alike.

Phemex COO Spills the Beans in Exclusive Interview: Soulbound Tokens Set to Make Crypto Trading Safer Than Ever

Recently, we had the opportunity to address our questions to Stella Chan, the COO of a global cryptocurrency exchange Phemex. Stella shared the unique advantages of Phemex and their groundbreaking Soulbound Token (SBT) technology. Inspired by Vitalik Buterin's concept of nontransferable "soulbound tokens," SBTs are set to revolutionize the operations of crypto exchanges. The primary objective of SBT technology is to elevate the security and protection of user funds. Join us in this exclusive interview as we delve deeper into this exciting development.

U.Today: Could you please provide some information about your background prior to becoming the COO at Phemex?

Stella Chan: I have quite diverse experience, both during my time at Phemex as well as before I joined the company. My educational background is actually in foreign languages, such as Arabic. Through my studies, I had the fortune of traveling to and living in various places around the world, from Dubai to Poland. 

Prior to joining Phemex, I worked in quite established internet companies in Asia such as Alibaba and Xiaomi, and I oversaw marketing as well as foreign markets for them. I've always kept my eye on the crypto industry because I found its mission of decentralization very interesting.

At Phemex, I started as the marketing director of global and emerging markets, then transitioned into chief marketing officer before recently becoming the Phemex COO. I oversee the strategic development of our Web3 project as well as the day-to-day operations of business teams. I also find great joy in mentoring and developing other managers and executives within the Phemex team.

U.Today: Phemex is a crypto trading and investment platform. What can you tell us about its advantages? 

Stella Chan: Phemex is a top five global cryptocurrency exchange that offers both contract and spot trading. With an extensive selection of 150+ contract and 200+ spot pairings, we empower traders of all levels to leverage market opportunities. On Phemex, proficient traders can benefit from leverage up to 100x with contract trading pairs, while newcomers enjoy a smooth start with industry-leading low credit card fees and a grid trading bot feature that automatically executes buy and sell orders at preset prices.

U.Today: How do you plan to combine CeFi and DeFi in one exchange?

Stella Chan: Phemex is pioneering a semi-centralized platform model by infusing decentralized mechanisms with existing CEX operations. The blockchain space is constantly developing. Cryptocurrencies initially arose to address financial use cases, but Phemex believes that the ultimate evolution of Web 3.0 must extend beyond financialization to encompass other fundamental elements of society, such as digital identity, trust building and permissionless collaboration. 

We take inspiration from Vitalik Buterin's concept of nontransferable "soulbound tokens" and apply it to our new Phemex Web3 project to achieve a new milestone in decentralized governance. This way, we can combine centralized efficiency with decentralized decision-making.

U.Today: How does Phemex ensure the security and safety of user funds and personal information? 

Stella Chan: We use a Hierarchical Deterministic Cold Wallet System to process and store our user funds safely, without any risk of hacks by being connected to any network. This system is proprietary and has helped us avoid any hacking throughout the entire life of our exchange. Furthermore, in the spirit of transparency and trustworthiness, we update our Merkle-Tree proof of reserves and proof of solvency every single month. In addition to simple PoR, we also publicize a portion of our cold wallets so any user can check that our assets are greater than our liabilities at all times.

U.Today: Tell us about your token, Phemex. Why did you choose Ethereum to build it on?

Stella Chan: The Phemex Token is our upcoming platform utility token. We're the only top 15 cryptocurrency exchange that has not yet issued a platform token, so we're seeing a lot of interest and buzz surrounding PT. As an on-chain ERC20 token, PT will offer a diverse array of benefits and use cases, including staking yields, trader bounty rewards and Phemex DAO governance. We chose to build it on Ethereum because our project was partially inspired by Vitalik Buterin's philosophy of a decentralized society, and also we felt Ethereum offers the highest-potential network with an existing user base and decentralization.

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U.Today: Can you give us more details about Soulbound Token (SBT) technology?

Stella Chan: Sure thing! Soulbound tokens are individual on-chain tokens that cannot be transferred. So you can think of them as non-tradable NFTs. At first glance, this concept may sound counterintuitive because many think the worth of a token rests in its financial tradable value. However, soulbound tokens unlock greater transparency and authenticity precisely because they cannot be transferred. The Phemex Soul Pass is our platform's innovative soulbound token that our loyal users have already started minting and receiving exclusive benefits from. Your activity on our platform can be stored on the PSP, and we'll reward you based on that. Because the PSP cannot be transferred to another wallet, we know that these exclusive benefits are always going to the right person. 

U.Today: Are there any specific benefits or advantages for institutional traders or high-volume traders on Phemex? 

Stella Chan: There sure are. We recently revamped and launched our new Phemex Institutional page, opening up lucrative new opportunities for brokers and market makers to work with us. Our broker program offers partners up to 50% commissions for referring users to trade on Phemex, while our market maker program grants institutional funds heavy discounts based on their trading volume. At higher volumes for contract trading, we'll even give institutions rebates, or negative trading fees, for their trades. Similarly, our standard VIP program opens up similar benefits to regular users. The more you trade, the higher VIP level you earn and the lower trading fees you can enjoy. Fee rates as low as 0% are possible for high-volume traders.

U.Today: Can you tell us about recent updates and upcoming features that users can look forward to on the platform?

Stella Chan: The biggest thing users have to look forward to is the launch of the Phemex Token in late November 2023. We'll be kicking off the Phemex Token to the Moon event with an airdrop party, where users will get an early access opportunity at the Phemex Token. The actual launch will be through our PT Bidding event, in which users can experience a fair launch through Dutch auction mechanisms. After launch, the Phemex Token can be staked for a healthy yield and holders can get vePT (vote escrow token) in return for voting in the PhemexDAO. Phemex Token holders can make decisions regarding the operations, growth, partnerships and treasury management of our platform.

U.Today: Do you have a crypto portfolio? Name for us at least your top three positions.

Stella Chan: I'm a big believer in many crypto projects. Like many others, I have strong positions in Bitcoin and Ethereum, as they have proven to be the projects with the most longevity. They also have some of the most decentralized networks. 

Third, I have a big Phemex Token position because I've been able to premine xPT, which will convert automatically 1:1 into PT after our token launch. With the success of Phemex Web3 so far, I am firmly confident in the prospects of the Phemex Token.

U.Today: What are some of your personal favorite projects in the crypto field?

Stella Chan: Of course, Phemex is the project closest to my heart. I've been overseeing the development and progress of Phemex Web3 since its inception at the beginning of 2023. I've also taken inspiration from POAP and Galxe to enhance the soulbound token concept and authentic on-chain reputation building.

U.Today: What tips would you offer to people aiming to secure leadership roles in blockchain companies?

Stella Chan: The blockchain industry is one of the fastest-paced industries on the planet. So, it's critical to keep learning every single day and keep abreast of the latest trends without being swept away in FOMO. Therefore, it's important to have a clear idea of what you think the crypto field will move toward in the long-term, then tailor your decision-making to that. In terms of internal leadership, it's important to challenge your team to constantly innovate and reflect as well. The blockchain industry can be both overwhelming and highly engaging, so it's up to you as the leader to set the pace for your team.

Rimma has been working in crypto media for more than 5 years. She’s an editor at U.Today. Her previous experience includes the head of social media at Cointelegraph. She is in contact with many prominent people in the blockchain field, including CZ, Roger Ver, Charles Hoskinson, David Sonstebo and others. Her area of greatest interest is the influence of opinion leaders in crypto, the latest blockchain developments, crypto adoption and how all of this affects our daily lives. Rimma can be contacted at rimma@u.today.

Exclusive Interview With Arllecta Founder on AI, SenseChain and Longevity Project

In this interview with Egger Mielberg, the founder of Arllecta, we discuss his journey toward establishing his own company that specializes in developing algorithms for artificial intelligence. Mielberg tells us about speech recognition and synthesis, speech analytics and algorithms for identifying semantic connections. He also talks about the company's flagship product, SenseChain, a global business network that aims to unite all active people on the planet into one equal network. Finally, Mielberg shares how the longevity project came about as a result of testing their algorithms in early diagnosis of cardiovascular diseases.

U.Today: Tell us about your background. What inspired you to start Arllecta?

Egger Mielberg: My constant attraction to solving those most complex problems that had not been solved before me by the best minds of mankind led me to the decision to enter a European state university to major in mathematics. During my studies, I actively participated in various clubs in mathematics and philosophy. In my third year of study, I was offered to start teaching a course in calculus for senior students at the Department of Applied Mathematics.

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After half a year, I received the position of senior lecturer in the department. After graduating from college, I was invited to graduate school in the Department of Applied Mathematics without exams. Additionally, I was invited to the Department of Information Technology as a senior lecturer. After a year of teaching, I created two full innovative courses for university students in calculus and the C++ programming language.

In 2010, while working at an American company developing complex analytical diagnostic software products for medicine, I decided to write the core of a search system that would bypass the Google project in terms of the quality of searching for relevant information. After a year and a half of work, a portion of the search algorithms was sold to a European search project.

In 2017, the complexity of artificial intelligence algorithms in terms of implementing methods for generating new knowledge prompted me to actively engage in research in this area. So, after a couple of years of complex analysis and research, I came to the conclusion that a new, specific theory is needed to create artificial intelligence. This is how Sense Theory appeared. Afterwards, I decided to establish my own company that would exclusively develop algorithms for artificial intelligence.

U.Today: Can you tell us about the main services Arllecta offers? 

Egger Mielberg: Among the basic services that our company offers are services such as speech recognition and synthesis, speech analytics of several conversation objects and algorithms for identifying semantic connections. 

Additionally, we are developing products in which we implement our own technologies both in terms of our own mathematical Sense Theory and in the field of the decentralized Proof of Participation Protocol (PoPP) — among which, we can highlight a single-window web application that combines such functionality as meetings, email, user board and calendar.

Our flagship product now is a global business network, SenseChain, whose main goal is to unite all active people on our planet into one equal network. Equality lies in the implementation of our unique paradigm; the main asset of our business network is time, or rather the hours that its users spend. The initial financial status of a member of our network does not matter; only the amount of time spent on the network is of decisive importance in obtaining various benefits.

U.Today: You are working on longevity research but also offer many AI solutions. The field is so wide, how do you manage to deal with everything?

Egger Mielberg: In fact, one follows the other. The longevity project came from the results of testing the algorithms of our Sense Theory in terms of early diagnosis of cardiovascular diseases on anonymized data.

We have obtained promising results in terms of early diagnosis of some skin diseases, as well as good results in terms of early diagnosis of myocardial infarction (heart attack). For example, regarding myocardial infarction, we obtained 99% accuracy in determining the homeostatic state of the human body four to five days before a heart attack.

Our research over the past two years has instilled in us the understanding that the so-called elixir of youth can be created only after a clear understanding of the molecular genetic reasons for the atypia of human cells, that is, the true reasons for the emergence of tumor cells.

Therefore, we are now focusing our research in medicine on conducting clinical studies of our own algorithms based on Sense Theory for the early diagnosis of cancer of any etiology. That is, if we achieve a result of 99% accuracy in making an early diagnosis of a tumor, then the creation of an elixir of youth will become a secondary task to be solved.

U.Today: What is the Proof of Participation Protocol (PoPP)?

Egger Mielberg: This technology, or rather the decentralized protocol, was created in 2018 based on our other technology, Smart Box. Smart Box is a logical structure that describes the interaction of network participants performing specific work for each other. The operating principles of this box are partly taken from an electronic microcircuit. The uniqueness of the protocol lies in the implementation of its main paradigm — the main job of the user using this protocol is to confirm their participation in the execution of the business contract.

For example, compared to the current implementation of the Bitcoin network protocol, the work done by the user of this protocol is confirmed by the mining work performed. In the Proof of Participation Protocol, work is done only after the actual execution of the business contract. That is, when the participants in each contract spent real time to fulfill it. As we know, time is an irreplaceable asset for any person on our planet. This fact makes our solution flexible and attractive for developing applications that implement a real digital economics-based business network.

U.Today: You are also the author of several mathematics technologies you use in AI-focused products. Can you tell us about them in simple terms? How did you come up with the idea of creating them?

Egger Mielberg: For example, let's take our current flagship product, SenseChain. The idea to create this technology was born after numerous failures of the current global financial system. The facts have become obvious that a person, as a biological species capable of self-education, should not spend the overwhelming bulk of their lifetime earning monetary assets for existence on this planet. The key here is "capable of self-education." In our opinion, it is precisely the artificially created barriers of the current financial system that do not allow a person who wants to improve their knowledge in the development of technologies in various fields of science and business.

At the current time, to eliminate these barriers, we see the creation of a global unified decentralized network in terms of eliminating the influence of its individual participants on its performance. However, simply creating a decentralized network will not eliminate these barriers, and a strong economic model is needed here, as for a full-fledged large state.

This is how SenseChain technology was born. The key and unique characteristics of this technology create a new niche in the technological range of Web3 technologies.

Among these characteristics are the following:

One of the main goals of the SenseChain is to unite the people of our planet into one big digital family, giving people the opportunity to earn money and exchange experiences from different countries and to speed up technological progress as much as possible for the benefit of a comfortable and safe life for each of its members.

We believe that SenseChain technology can become the starting point in creating a smart and safe home for every inhabitant of our planet. For example, the implemented digital economic model in the SenseChain network completely eliminates such an artificial concept as inflation.

The SenseChain technology is completely based on Sense Theory and the Proof of Participation Protocol and has no connection to or relationship with any current crypto projects.

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The main and fundamental difference between SenseChain and other crypto projects is the implementation of its own paradigm for the main asset in the form of user hours spent and the realized economy. Also, it should be especially noted that SenseChain is not a pure crypto project; it is primarily an IT project with partial implementation of crypto characteristics from the crypto industry. Finally, SenseChain uses its own main network with its own native coin — SenseCoin (SC).

U.Today: What is the main advantage of using a decentralized network like SenseChain?

Egger Mielberg: The SenseChain technology we created has a unique feature that separates it from any other technologies, it is a sense-to-sense algorithm with a main focus on meaning of sense between objects of any type. The main advantage of using the SenseChain network is the simplicity, transparency and security of its users.

Its simplicity lies in the fact that all business and economic activities of any network participant can be identified without disclosing sensitive information. On the network, the main instrument is sense contracts.

The transparency of the network lies in the ability of any person, whether a participant or not, to obtain maximum information about the business activities of any participant on the network. Personal information specified in official identification documents and wallet balances are confidential to comply with international laws on personal and commercial data.

Network security is about implementing sense contracts for any action on that network. In other words, no action can be implemented without a corresponding sense contract created. In this regard, we minimize as much as possible such activities on our network as money laundering or monetary fraud.

U.Today: What is a sense contract?

Egger Mielberg: Sense contract is a business contract that uses Smart Box technology for its logic and SenseChain for its analysis and storage.

One of the unique features of SenseChain lies in its storage scheme for sense contracts. A sense contract that is executed, say, two years after the creation of the basic first sense contract for a specific job will be recorded on the network in the form of a semantic branch of this basic sense contract.

SenseChain partly implements the principles of the formation of long-term memory in the human brain.

U.Today: What challenges did you face on your leadership journey?

Egger Mielberg: The main and perhaps only difficulty that I constantly encounter is the attempts of total control by the big giants in the IT industry to suppress the development of innovative new projects for the sake of their own exorbitant financial gain.

U.Today: What are your plans for 2024?

Egger Mielberg: Launch SenseChain Network and finish the first stage of our clinical research in the longevity project.

U.Today: Do you have a crypto portfolio?

Egger Mielberg: I do not have any.

I believe in a digital decentralized economic business network with the best characteristics of any crypto project included. Not the other way around!

U.Today: Who in the industry inspires you and why?

Egger Mielberg: The global economic situation that inspired me to start creating our technologies, particularly SenseChain, is the weak, not very far-sighted financial system that gives rise to the overwhelming number of problems that humanity faces in the 21st century.

U.Today: What piece of advice can you give to people who want to start a crypto/blockchain/AI company?

Egger Mielberg: Let me quote our appeal to everyone who registers with our SenseChain network:

My personal life motto is "Analyze more, Ask less." That is exactly what I would recommend to anyone who would want to start a business of any kind.

Rimma has been working in crypto media for more than 5 years. She’s an editor at U.Today. Her previous experience includes the head of social media at Cointelegraph. She is in contact with many prominent people in the blockchain field, including CZ, Roger Ver, Charles Hoskinson, David Sonstebo and others. Her area of greatest interest is the influence of opinion leaders in crypto, the latest blockchain developments, crypto adoption and how all of this affects our daily lives. Rimma can be contacted at rimma@u.today.

Six Years of CoinEx: Talking with Product Director

Recently, the U.Today team sent a few email questions to Gigi F., the product director of a global cryptocurrency exchange CoinEx. In her replies, she told us about the main CoinEx features and advantages which make the company stand apart from other cryptocurrency exchange platforms. 

U.Today: Gigi, can you please tell us about when you first stumbled upon cryptocurrencies? 

Gigi: I first encountered cryptocurrencies back in 2013. At that time, the industry was still in its early stages and it was quite chaotic; everyone was in an exploratory and experimental phase. In 2017, due to a fortuitous opportunity, I had the chance to meet Haipo Yang, the founder of CoinEx. After conversing with him, I deeply sensed his genuine understanding and passion for crypto finance, along with his determination to have a long-term impact on this industry. Throughout this process, I also felt Haipo's sincerity and grounded personality. I am pleased that we share common ground on certain issues. Influenced by the personal charisma of the founder and driven by my desire to contribute my expertise to the industry I am passionate about, I ultimately decided to join CoinEx.

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U.Today: What sets CoinEx apart from other cryptocurrency exchange platforms?

Gigi I believe our greatest strength lies in our assets and our team. Assets constitute the most crucial cornerstone of this industry, and we have been dedicated to assisting users in discovering valuable and high-potential assets. Currently, we have provided support for over 200 public chains and more than 700 currencies, a notably high level within the entire industry. To be candid, managing assets is super complex, and from a professional standpoint, supporting public chains proves more challenging than dealing with currencies due to various factors, including the maintenance of numerous nodes.

Another factor is the team. Why I believe the team is another major advantage for us is because when assessing the reliability of a financial product, we need to look at the team behind it. Our team is dedicated, with a single-minded focus on creating a high-quality product. We consistently uphold honest values, even amidst a volatile industry. We don't choose the path of rapid expansion for short-term gains. Instead, we steadily progress forward. 

Furthermore, our initial goal in product development has remained unchanged—to provide more people with the opportunity to participate and enjoy the benefits of the cryptocurrency industry through simple and user-friendly products. I believe it is precisely because of this commitment that we can survive and thrive in the intense competitive environment.

U.Today: There is an observation that CoinEx is relatively restrained in launching new products and features compared to other exchanges, what is the underlying philosophy and values behind this approach?

Gigi: "Restraint" is actually an embodiment of our care for users. Before developing any product, we always start from the perspective of user needs and experience, rather than maximizing company profits. When deciding whether to launch a product or feature, we consider three factors. First, does it address users' problems? Second, is the user's learning curve high? Is there a significant level of risk? And third, does our team have the capability to excel in developing this product?

For instance, structured financial products may appear to offer attractive high returns, but the associated risks are also exceedingly high. This is because they necessitate the platform to possess the capability to manage assets internally or extend funds to a third-party platform for management. From a user's perspective, not only may they fail to realize any profits in the end, but there's also the risk of losing their principal amount. As a professional digital asset trading platform, we prioritize a thorough consideration of these risks before finalizing any product decisions.

On the other hand, recognizing that value storage, transfers, and transactions are the most fundamental needs of users, we will invest more time and effort in these areas, continually refining and optimizing them to ensure users can smoothly use our products. 

We maintain a high level of sensitivity and an open mindset toward market changes and new products. After thorough research and assessment, we comprehensively consider user needs, understanding capabilities, and risk tolerance before deciding whether to launch a particular product or feature.

U.Today: As the Head of Product at CoinEx, what’s the CoinEx product that you are (personally) most excited about? 

Gigi: I find AMM to be the most exciting aspect of our platform. It stands as the inaugural product, primarily focused on addressing the challenge of asset liquidity. Adhering to the belief that "everyone can become a liquidity provider," CoinEx's AMM adopts the algorithm of the "Constant Product Market Maker (CPMM)." When users inject funds into the liquidity pool, they need to simultaneously contribute two types of assets. The quantity of these two assets will maintain a constant product. Its distinctive feature lies in its ability to provide liquidity to the market, regardless of the magnitude of the order book or the size of the liquidity pool.

The second noteworthy feature is our Swap product as it facilitates the seamless exchange of one token for another. Users commonly express concerns in this regard, particularly about transaction speed and slippage. On this matter, we don't burden users with configuring parameters; instead, our exchange feature, powered by a proprietary algorithm, achieves sub-second exchanges for any cryptocurrency. This not only eliminates cumbersome processes but also addresses users' concerns about slippage, ultimately ensuring swift and efficient transactions.

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U.Today: For users, asset security is paramount. How does your product ensure the security of user assets?

Gigi: Ensuring asset security is the top priority in our work. Our security team employs enhanced mechanisms holistically to strike a balance between convenience and security in crypto asset management within its hot wallets, including multi-signature protocols, trusted execution environments, independent infrastructure, and an automated alert system. We also enhanced the underlying cold wallet architecture through multidimensional mechanisms such as proprietary cold storage systems, offline private keys, and dedicated hardware authentication.

Additionally, we have established a CoinEx shield fund and a Security Committee, and we have partnered with external leading security institutions, such as SlowMist, to safeguard user assets. In the future, we will continue to recruit seasoned experts to expand the security team and enhance measures aiming to provide users with robust protection and assurances necessary to fully capitalize on the potential of crypto.

Another point worth mentioning is that we place great importance on user education regarding security issues. When it comes to fund security, the way users manage their own accounts is crucial. We recommend that users enable the 2FA (Two-Factor Authentication) feature to ensure the security of their accounts. In the future, we will also consider products like hardware login as a way to explore more solutions to enhance user account security.

U.Today: The cryptocurrency industry is undergoing rapid changes. How does the CoinEx product team ensure it stays at the forefront of the industry?

Gig: This brings us back to the fundamental question—CoinEx needs to be itself. When a trend emerges, we first assess whether it's a short-lived phenomenon or something with long-term value. We have consistently focused on endeavors with long-term value. If something is merely a gimmick or a fleeting trend, we see no need to chase after it. We continuously monitor these changes, but when making decisions, we ultimately return to the essence of the product— can users understand it? Do users genuinely need it?

For instance, if there is a good structured financial product on the market at this time, we will maintain an open-minded attitude to pay attention to these products. Take Automated Market Makers (AMM) as an example; AMM was the starting point for the prosperity of decentralized exchanges like Uniswap. After evaluating the impact of AMM, we believed it was valuable for users and beneficial for market liquidity. 

Therefore, we decided to list AMM, and after making improvements to the product, we became the first centralized exchange platform to introduce AMM.

U.Today: Many predict that a new bull market is on the horizon. Does the CoinEx product team have any preparations in place?

Gigi: We have been making preparations all along. With the bull market, we anticipate seeing more users and funds flowing into this industry. It is indeed a favorable opportunity for us. However, from a product perspective, to seize this opportunity, what we can do is continuously meet user demands and address user issues.

In 2024, we anticipate launching a series of products, including Copy Trading, Staking, C2C, and more. Fund deposits and withdrawals are crucial concerns for users, and we have consistently dedicated ourselves to providing more convenient channels for these transactions. Staking is not only a financial product but it is also aimed at meeting the diverse investment needs of users. Meanwhile, Copy Trading offers users a high-risk, high-return investment educational venue. We are delighted that users continue to trust us, providing feedback and expressing their demands for new products. We will continue our efforts to ensure the provision of comprehensive and innovative financial tools for our users.

U.Today: CoinEx's brand value is "User First." How does the product department ensure that product design, upgrades, and implementations align with this "User First" philosophy in your day-to-day work?

Gigi: Here, I would like to take the CoinEx listing team as an example. When making listing decisions, we emphasize a "preliminary" approach to help users avoid risks: our research team invests significant time and expertise in carefully examining assets in the market, aiming to impartially and objectively select high-quality assets for CoinEx users. This involves various aspects of professional assessment, including the underlying technology, product innovation, team strength, and background, community popularity, token model rationality, and other potential factors, along with risk factors.

In addition to listings, in other areas, we also emphasize addressing user concerns beforehand. When designing products, we proactively consider the problems and worries users might face; in decision-making, our constant emphasis is not to blindly add products and features, as our ultimate goal is not to create pressure for users but to ensure that they can easily understand and enjoy using our products.

U.Today: On the occasion of CoinEx's sixth anniversary, is there anything you would like to say to the users?

Gigi: What I most want to share with our users is heartfelt gratitude. Your use of our platform is a tremendous source of motivation for us. Over the past six years, every step of our growth has been inseparable from your support and companionship. It is precisely because of the suggestions and feedback you continuously provide that we can make constant progress. Looking ahead, we hope to continue this journey with you, exploring more opportunities and possibilities in the ever-evolving field of encryption.

Rimma has been working in crypto media for more than 5 years. She’s an editor at U.Today. Her previous experience includes the head of social media at Cointelegraph. She is in contact with many prominent people in the blockchain field, including CZ, Roger Ver, Charles Hoskinson, David Sonstebo and others. Her area of greatest interest is the influence of opinion leaders in crypto, the latest blockchain developments, crypto adoption and how all of this affects our daily lives. Rimma can be contacted at rimma@u.today.