India Business News: Mumbai: AI is perhaps the only new age tech space that has continued to evince investor interest despite a global slowdown in tech funding.

AI startup Atlan valued at $750 million - Times of India

Existing investors Salesforce Ventures and Peak XV Partners also participated in the round, taking Atlan’s total valuation to $750 million

Data & AI governance platform Atlan raises $105 million from GIC, Meritech Capital

Atlan&#x27;s Series C funding round, co-led by GIC and Meritech Capital, with participation from Salesforce Ventures and Peak XV Partners

Atlan Raises $105 Mn To Strengthen Data and AI Governance Products

Atlan, an early stage startup, is helping companies make sense of their data, a capability that is especially handy right now to build LLMs.

Atlan scores $105M for its data control plane, as LLMs boost importance of data | TechCrunch

Atlan said on Wednesday it had raised $105 million in a funding round led by Singapore&#x27;s sovereign wealth fund GIC and tech investor Meritech Capital that valued the artificial intelligence startup at $750 million.

AI startup Atlan raises $105 million in funding at $750 million valuation | Reuters

Atlan

atlan

The Battle of the North Atlantic

Astounding Stories of Super-Science February 1931, by Astounding Stories is part of HackerNoon’s Book Blog Post series. You can jump to any chapter in this book here . Phalanxes of Atlans: Chapter III CHAPTER III A bright yellow glare steadily increased to mark the end of the tunnel down which the two had progressed; then, with the sharp abruptness of a hand-clap, there resounded a loud challenge in that unintelligible Atlantean language, above which the hiss of steam could be loudly heard. Instantly the Atlantean prince strode forward, a commanding figure. Momentarily his helmet and the dangling grenadelike bombs were sharply outlined against that unearthly yellow light. He raised his hand and dropped it, palm outward, to his chin in what must have been a salute. The hissing sound of steam then faded into silence. Followed at a respectful distance by a pair of silent, bronze-helmeted hoplites, Nelson and his guide descended a narrow stair, which broadened at the base. It was a very long staircase composed of perhaps two or three hundred steps which were occasionally interrupted by wide stone terraces. On these level spaces were fixed what appeared to be enormous field guns of glittering brass. They were similar, yet somehow oddly dissimilar, to the great guns Nelson had seen in France. "Behold, oh Wanderer," Hero Giles declaimed impressively, "the lands of Atlans and Jarmuth!" It was a weird landscape that met Nelson's half-unbelieving gaze, a landscape green with that brilliance peculiar to spring meadows, lying beneath the same deep blue sky that overarched the surrounding barren ice fields which hemmed in this astounding valley. A slight smile played over Hero Giles' thin lips as he watched the amazed aviator. "The splendor of our country must indeed astound thee," he observed, "having come from the dreary fastness of the outer Ice World. But come; we are now to pass the great retortii guarding the entrance into the valley." Nelson's eyes turned again to the weapons that so oddly resembled field guns. He examined them closely, inspecting them narrowly for the differences he knew must exist between them and the artillery that had thundered during the War of the Nations. The chief difference lay in the mounting of these starkly beautiful weapons. They seemed to be fixed on a movable pivot set into the coal black rock itself. Like modern artillery, these curious pieces of ordnance bore a bronze shield to protect their crews, through which projected the long and very narrow barrels of the guns. Grouped like cannoneers about their piece stood various red-crested Atlantean artillerymen. At a glance Nelson recognized the difference in their equipment from that of the spearmen behind them. These former bore no shields, no swords or bombs, but wore that same kind of leather body-armor which graced the powerful limbs of Hero Giles. Their helmets, too, were different: only the dolphin crest with a tuft of red feathers spouting from it bore any resemblance to those of the infantry, and, moreover, the artillerymen's eyes were shielded by goggles with thick blue lenses. As the Hero approached, officers among them saluted, then sank on one knee with head humbly bent. "Rather odd looking guns," commented Nelson. "I'm not much of an artilleryman, but I'm wondering how you take up the recoil?" The Atlantean's laugh, which always reminded his guest of the purr of a tiger, rang out. "Why, marry, good sir, there is no recoil! These guns do not use that powder which Sir Henry, founder of our line, did speak of. Thou wouldst see one fired?" His curiosity immeasurably piqued, Nelson nodded, whereupon the Atlantean wheeled about and barked a brief command. With truly Prussian precision, the artillerymen sprang to their posts, some to a series of levers which sprouted from the rock platform without any apparent connection, and some to wheels and gauges of varying size that clustered in bewildering intricacy about the breech of the great brass gun. "Markest thou that tree yonder, on the ledge of the valley?" The Atlantean's blunt outstretched finger indicated a towering pine sprouting from among a mass of reddish volcanic rock at the rim of that new world. "Yes, I see it, but—" Nelson was astounded. A pine tree in the upper Arctic! That alone was sufficient cause for amazement. From a stiff red-plumed gun captain issued a brief series of commands which set the wonderfully drilled crew to silently adjusting their training and elevating mechanism. Click! Clack! Sis-s-s-s! All up and down the vast staircase other gun crews stood watching. Nelson saw their weird, bluish goggles raised to that platform where, for all the world like a coast defense howitzer, the great cannon swung majestically about on the ponderous, brazen column which seemed to support it. Gradually the muzzle was elevated, then traversed a few feet, to finally come to a halt. "Jakul, a Hero!" shouted the gun captain, his hand raised to Hero Giles. "Thou art ready, Friend Nelson?" he inquired in tolerant amusement. "Mark well yon pine tree! "Storr!" Nelson saw one of the armored cannoneers bend forward, firmly grasp a short lever with both hands. In anticipation of a terrific report, the aviator pressed finger tips to his ears. There followed not a thundering crash, but a curious, eery, high-pitched scream, rather like that of a fire siren. There was no smoke! Nelson's incredulous eyes sought the muzzle of the gun and detected issuing from it what appeared to be a thin, white rod. This shimmering stream of silver shot straight towards the pine tree, gradually widening and giving off feathery billows of steam. In a fraction of a moment the target was completely veiled from sight in a furious pall of clouds which, to Nelson's great astonishment, did not dissipate nor condense with the speed of ordinary steam. "Nava!" With impressive suddenness the screaming sound faded, leaving a sort of stunned silence on the gun platform. The gunners stalked back to their original stations. Slowly, reluctantly, the mist enveloping the pine tree cleared away and Nelson felt a chill creeping up his spine. The pine was a good three hundred yards away, yet now it sagged limp to earth, stripped of bark, twigs and needles, only the bright yellow trunk and major branches remaining. "That tree was a good two feet thick," mused the astounded aviator, "yet the steam gun bent it like a sapling. My God! What would it do to a man?" "What thinkest thou of our retortii?" The Atlantean's beard glinted like metal as he shook with a grim, silent laughter. "These great retortii can shoot half a league and will blast any living thing in their path. I tell thee, friend Nelson, the discharge of even a small retortii will strip the flesh from a man's bones as a peasant strips the husk from an ear of corn!" "Fearful, terrible!" was Nelson's awed comment. "Is there no defence against them?" "Of course." The Hero's green feather-crested helmet gleamed with a nod. "Was there ever an instrument of war that had not its defence? Yea, we have the blue vapor to shatter steam particles—it is called the blue maxima. Thou wilt presently see some of our troops armed with it." "But where does this steam come from? How is it generated?" These two were the first of a host of questions which trembled on Nelson's lips. "The steam," replied the Atlantean, "comes from the earth. We compress it many times, then feed it into our retortii. Without the heat of Mother Earth and our flame suns we would all perish. Steam is our motive power, our defence and our enemy!" He flung his hand towards the vast valley stretched before them. It was hemmed in on either side by colossal breath-taking mountain ranges, whose caps shone and glittered with an eternal snow. "Some foothills! They must rise all of 25,000 feet from the valley floor," decided the aviator, "and I should imagine this valley is a good mile below sea level. Yes! That must be it: this nightmare country lies in a huge geographical fault—something like the Dead Sea." Mile after mile he could see fertile green land stretching away toward some low undulating hills on the horizon. Atlans was very thickly settled—that he recognized at once—for the terrain was divided and sub-divided into a vast checker-board, such as he had seen in France and Germany, while terraces, green with produce, had been laboriously gouged out of the frowning mountain sides. Then his eye encountered the source of that curious amber light which pervaded the whole valley. A titanic flaming gas vent spouted like a cyclopean torch from the peak of a nearby mountain. Its steady, subdued roar struck Nelson's ear as he turned away his eyes, for the glare was too intense to be long endured. Further down the valley were two more such incandescent vents, shooting their flaming tongues boldly into the sky, warming the air and casting that rich, amber radiance over all. "That is Mount Ossa nearest us," the Atlantean's voice came as though from a long distance. Victor Nelson was too staggered, too unspeakably amazed to register the fact of the Hero's proximity. "Below are Pelion and Jilboa, which, with Jabor, the greatest of all the flames, illuminate and warm the valley." Nelson's eye, trained to be all observant, ranged far and wide, noting the presence of many lacy, frothing geysers which spouted at varying intervals. There were, also, many steaming ponds and waterfalls which sprang in smoky confusion from the rock palisades to either side. Nearer at hand he could distinguish a number of huge stone structures, evidently forts and public buildings. Strategically placed all about were more of those terrible brass retortii, gleaming dully under the incandescent glare of the flame sun. "Come," cried Hero Giles with an impatient gesture of his hand, "we must e'en hasten to the tube-road terminal. Word has long since been sent to Heliopolis of thy arrival." Downwards into the valley, which grew ever warmer and more fertile, the Atlantean led on, explaining a thousand and one details to the astounded aviator. Presently they approached the nearest of the great stone structures and Nelson received yet another shock. In a courtyard was drilling what would correspond to a troop of cavalry in the outer world. In orderly ranks the troopers wheeled, marched and counter-marched, their brazen armor twinkling and clashing softly as they carried out their evolutions with an amazing precision. But what astonished Nelson was the fact that each of these strange troopers bestrode a lithe, long-limbed variety of dinosaur, a good half smaller than the allosauri he had encountered in the tunnel. These agile creatures ran about on their hind legs with astonishing speed, using a long reptilian tail as a balance. On the back of each trooper was fastened a compact circular copper tank, from which sprouted a flexible metal hose that ended in what looked like a ponderous type of pistol. In distinction to the red of the artillerymen and the blue of the Hoplites, these curious cavalrymen wore brilliant crests of yellow feathers, and from their lance tips fluttered tiny pennons of that same color. "They must travel at least as fast as a race horse," decided the aviator after studying the swift evolutions of the scaly chargers. To his ears came the curious dry scrape and rattle of their horny claws on the stone pavement of the drill yard. He would have lingered to see more, for those grotesque, lizard-like chargers interested him immensely, but Hero Giles beckoned imperiously. So, dropping the Winchester to the hollow of his arm, Nelson followed him into the brilliantly gas-lit depths of the great structure. Everywhere were red bearded, white skinned soldiers, staring at him with the frank curiosity of children. Powerful, magnificently built fellows they were, all in uniforms of different designs. The walls about him, Nelson noticed, were covered with really beautiful friezes depicting various warlike scenes in that pure beauty of proportion found only in ancient Grecian temples. On and on through resounding tunnels, past busy markets and barracks, hurried the two travelers. Then the Atlantean halted before a gracefully arched doorway where stood two hoplites, who immediately lowered spears to bar the passage. At a word from Hero Giles, however, they saluted and fell back in position—immovable, grim guardians. Inside was a short staircase, beautifully wrought of bronze. Up this flashed the Atlantean's mail-clad body; then he came to a halt under the direct rays of a blinding light. Nelson, on arriving above, discovered that the chamber was lined with jointless brass about ten feet high and circular in shape. "What's this?" he demanded curiously. "The terminal of the tube-road. In a moment thou shalt see the great cylinder arrive." The words were hardly by the Hero's lips when there appeared, noiselessly and amid a great rush of air, a huge metal cylinder that ran upon a sort of truck. It rumbled up to the edge of the platform and from its end a small door was opened. Hero Giles exchanged a few sentences with an elderly man who appeared to act as control master, then he indicated the glowing doorway of the cylinder. Firmly clutching his Winchester, Nelson bowed his head and stepped inside, there to discover a luxury he had never anticipated. The interior of the cylinder was brilliantly lit and on both sides were ranged wide divans, strewn with many silken cushions. In a rack nearby were several graceful glass amphora, filled with red and tawny wine. "The cylinder must be about thirty feet long," the marvelling American told himself, "and about ten feet in diameter. Guess it works on the same principle as the compressed air tubes the department stores use to send change with." Gingerly he tested the nearest divan and marvelled at the curious softness of what appeared to be a gigantic tiger skin. Meanwhile Hero Giles entered, his stern features even more serious, but with him was a younger man who resembled him not a little. "Fair brother," said the Atlantean to his companion, "this is he of whom I spoke. Friend Nelson, this is Hero John, my next youngest brother—he, too, speaks the language of the great Sir Henry Hudson." The metallic clang of the door being shut brought a sharp qualm to Nelson's heart. "What are they doing?" he demanded quickly. "The menials bolt the door beyond," explained Hero Giles with amused gravity. "In a moment our cylinder will be placed in the dispatching chamber, where steam pressure will be exerted. We shall then be hurled through this vacuum tube-road to Heliopolis, greatest city of Atlans. In an hour we will be there." Outside sounded the sudden insistent clangor of a gong, and immediately the hiss of steam grew louder. The car shuddered as the hissing rose to an eery scream, then all at once the cylinder leaped forward, nearly hurling Nelson from his seat. He struggled as best he might to gain his equilibrium, for the eyes of the others were on him. Then, more smoothly, the great cylinder gathered speed and hurtled on through the darkness of the tube-road towards Heliopolis, where Victor Nelson would read the book of Fate. About HackerNoon Book Series: We bring you the most important technical, scientific, and insightful public domain books. This book is part of the public domain. Various. 2009. Astounding Stories of Super-Science, February 1931. Urbana, Illinois: Project Gutenberg. Retrieved May 2022 from https://www.gutenberg.org/files/30124/30124-h/30124-h.htm#Page_228 . This eBook is for the use of anyone anywhere at no cost and with almost no restrictions whatsoever. You may copy it, give it away or re-use it under the terms of the Project Gutenberg License included with this eBook or online at www.gutenberg.org , located at https://www.gutenberg.org/policy/license.html

Chapter III: Phalanxes of Atlans 

Astounding Stories of Super-Science February 1931: Phalanxes of Atlans - Chapter I

Astounding Stories of Super-Science March 1931, by Astounding Stories is part of HackerNoon’s Book Blog Post series. You can jump to any chapter in this book here . Phalanxes of Atlans: Chapter X CHAPTER X With sharp anxiety, Victor Nelson kept watching the towers of Jezreel rise ever clearer above the great, warm plain of Jarmuth, but, for all that, he noted how distinctly Jezreel differed from Heliopolis. The Jarmuthian capital was predominantly amber-yellow instead of white in color; its towers were flat-topped, angular, hideous structures that compared not at all favorably with the graceful Grecian architecture of Atlantean public buildings. The populace, he decided, as he strode along in the midst of half a dozen silent guards, were as harsh and graceless as their architecture. Whereas the Atlanteans had been white skinned and uniformly red haired—save for those of Hudsonian blood—the inhabitants of Jarmuth almost without exception were black haired and had dark, olive-hued skins. "They're the lost tribes of Israel, all right," Nelson decided after a brief sojourn in that savage land lying beyond Apidanus—the great boiling river, whose bubbling and scalding currents had for centuries served as a natural boundary between the two realms. But now the Jarmuthian armies had crossed it and were steadily pushing back the demoralized and despairing Atlanteans with savage energy that heaped the dead in hillocks. "Their armor," mused the ragged, barefoot prisoner, studying his silent guards, "looks a lot like a Roman legionnaire's, but that six pointed star on their helmets is pure Semitic. Yes, this sure is an Asiatic outfit." His eyes wandered from one fierce, big-nosed infantryman to another and noted the splendid physical structure of the majority. Evidently hardier, much less refined and luxury-loving than the Atlanteans, these swart warriors disdained robes and other garments. Save for helmet, armor and brief black kilts, they were quite naked. Like the Atlantean hoplites the infantrymen carried spears, steam retortii and quantities of grenades. The country side through which the prisoner passed had a holiday air, for garlands of flowers hung in every doorway, and naked, pot-bellied children squatted by the roadside, industriously weaving crowns and streamers of gay blossoms. "Look, Atlantean dog!" commanded the black-bearded leader of the escort. "Let thine infidel eyes gaze upon the mightiest city of the world. Seest thou yonder Ziggurat which o'er towers all others?" Nelson raised eyes red-rimmed from sleeplessness and deep anxiety—for the crafty Jarmuthians had proved unexpectedly unwilling to credit him as the Atlantean outcast and would-be renegade he had pretended to be. "Yes," he said in reply to the English-speaking jehar's—captain's—question. "What's it for?" "'Tis the temple of the almighty Beelzebub, Steam God of Jarmuth. Without his hot breath no wheel would turn, our armies would be powerless and this land would perish under the ice of the outer world." The dark eyed officer's eye fell speculatively upon his bound and dust-covered prisoner. "Perchance, dog of a spy, thou wilt die during to-day's fourth division together with Altara, pale daughter of the feeble, false god Poseidon." The Atlantean day was divided into six divisions of four hours each; due to the flame suns there was no sunrise or sunset. This afternoon? Nelson could not realize that the time had flown so quickly. Four short hours separated him from the crisis of his life. A thousand doubts assailed him. What if Alden or Hero Giles failed in their share of the great scheme for rescue? Narrowly, the aviator's eye searched the great, rich plain, then swept the amber-hued sky where, far above the plain, Jilboa, the nearest flame sun, beat off the Arctic chill and darkness. The great, black-bearded jehar eased the straps from which was suspended the brass coil of his retortii. "Aye," he chuckled, his thick lips parted in a crafty smile. "Ere long will the fair flesh of Altara grace the ceremonial board of His Exaltation, the King, and his priests and princes." Nelson gasped in horror. The divinely beautiful Altara—butchered for meat like a calf? Grotesque! Ghastly! "What! You eat your prisoners?" He felt sick, nauseated. For answer, the swart Jarmuthian raised an enormous hand and dealt the captive American a stinging cuff which made his teeth rattle. "Peace!" he snarled. "Else I slit thy spying throat ere we pass yonder walls." Fingering a short blue-black beard that was frizzed into tight curls in the Assyrian manner, the jehar lengthened his stride as the little detachment clanked into the shadow of a great wall surrounding Jezreel, and through a huge gate guarded by two hideous, jackal-headed effigies. Hurrying into the city were throngs of eager men, women and children, interspersed with muscular, black bearded soldiers who cast threatening, baleful eyes on the pale-skinned prisoner. At first the great metropolis of Jezreel seemed boundless, for everywhere arose tall, massive monuments of yellow marble whose facades were engraved with Sanskrit charac ters, thus bearing out Nelson's surmise that this was indeed a race of Semitic origin. Here and there hurried grey-bearded, vulture-eyed priests oddly garbed in corrupt Occhive and Tyrian regalia. Nelson found it odd to see the Tablet of the Laws, which Jarmuth so openly ignored, swaying on their yellow robed breasts; and none cried out more menacingly nor more loudly against the limping, wan-faced captive, than these same ecclesiastics, who must have long since forgotten all worship of Jehovah in the foul service of a bestial golden effigy. A stone sailed through the air, narrowly missing the American; then another, which struck his shoulder. "God, what a rough looking crowd," thought Nelson, as the guards, cursing, held back the screaming mob. "At this rate I won't live to even reach the temple!" Every second his life stood in great danger. Unkempt, sloe-eyed women hurled themselves, shrieking with fury, against the armored chests of the guards, who were hard pressed to beat them off with their spear hafts. Nelson's one small ray of comfort in this evil hour was the fact that his .45 pistol remained untouched in a food wallet. At the border the jehar had cast one contemptuous glance at the weapon, but, no doubt deeming it some strange culinary tool, he had made no effort to remove it. It was a continual struggle for the guards to win their way up a long flight of stairs, for ever the great stream of humanity grew denser and more menacing. Nelson felt a violent sense of revolt grip his being. "I must win free," he thought. "If I fail, Alden dies, and—and—" For the first time he realised how much he wanted to actually see Altara. Like a clear cameo, an image of her had remained fresh in his memory. Except for her Grecian garments she might have been a lovely, carefree English or American girl. "And these decadent swine would sacrifice her!" The thought was sickening. Yet how could he prevent the pitiful tragedy? Fortunately, a detachment of troops—tall, sinewy fellows with conical helmets, crested with six-pointed stars—reenforced the guards just as clawing hands began to snatch and tug at the prisoner's ragged Atlantean chiton of blue cotton. Almost before he realized it, Nelson was dragged inside a great gloomy building and into a circular chamber where four eagle-featured elders sat in council beneath the six-pointed star of Sem. On approaching, the jehar in command sank on one knee and in humble salute raised both hands to the tribunal. "A tough looking desk sergeant they've got," muttered the prisoner to himself as his eye met the chilling regard of a lean, yellow-faced priest. "Wonder what I'm booked for?" Idiotically, he recalled being summoned before a traffic court, years back. "Guess I don't get off with vagrancy; it'll probably be everything from speeding to mayhem, with maybe arson and well-poisoning thrown in." The deliberations of this ominous court proved to be appallingly short. The dour-faced elders merely put their heads together, muttered a few sentences, then straightened up almost immediately. The chief priest—he with the yellow face—thrust out his fist and made the immemorial signal of death by jerking his thumb at the black marble floor. Before the outraged and astounded aviator could utter a word of protest, powerful guards seized and hauled him off down a dark, narrow passageway in which the fetid prison smell was very strong. Too wise to struggle against overwhelming odds, yet appalled at the thought of his impending doom, Nelson was dragged into a room where four or five furtive, enslaved Atlanteans, made dumb by the removal of their tongues, were engaged in a curious occupation. On a bare stone bench, five other Atlantean captives were sitting in miserable silence. They made a grotesque array, for their heads were crowned with gay yellow and blue flowers, and the upper half of their perfectly formed bodies gleamed with an application of a sweet-smelling oil. About their wrists and waists were twined fragrant garlands of yellow roses which hid the leather straps confining their hands. Struggling, Nelson was forced on to the bench, whereupon slaves, skipping to avoid the lash of a scarred, olive-hued slave driver, hurried to wash the newly arrived prisoner's limbs, face and hands. A weary-looking old slave with sunken, rheumy eyes listlessly pulled the blue chiton from Nelson's broad shoulders, and would have removed the food pouch had not the prisoner winked vigorously. The ministering slave glanced swiftly sidewise and, discovering the slave driver's attention directed to another corner, pulled the upper folds of the chiton over the food pouch and its precious contents, then set a crown of yellow roses more or less askew on the American's head. For all the peril of the situation Nelson could not suppress a fleeting smile as the phrase, "For I'm to be Queen of the May, Mother," leaped nonsensically into his brain. "Yes, I guess they are getting us all dolled up for a sacrifice of some kind." Nelson's heart began to pound at the thought. Then he fought for self control. It must be a hideously realistic nightmare! He, Victor Nelson, American citizen, a quiet birdman, member of the Caterpillar Club and ex-flight commander of the A. E. F. was about to be offered as a sacrifice to some hideous, pagan god? Nonsense! He'd wake up in a minute and hear the drone of a ship on the line. He blinked, staring fixedly at a single ray of light that came streaming in through a small, barred window, then glanced sidewise at his fellow victims, who with Spartan indifference sat waiting for the end of all things. It was no dream! From the tiny window came the shrill discordant braying of many trumpets, and a roar like that of a football crowd arose surprisingly near. In response, the slave driver lashed the gaudily bedecked sacrificial victims to their feet with vicious cuts of his pliant whip, and herded them like a drove of calves down a very long passage, lit at intervals by those strange column lamps of incandescent gas. In their red glare the doomed six seemed as though already bathed in blood. "Must be some crowd of people outside," muttered Nelson as a great gale of sound deafened him. Yonder the amber glare of the flame suns glimmered, and now it was his turn to step into the open! On a sort of spiral roadway he paused, breathless, awed, bewildered, for there, eddying restlessly about the bases of towers and other huge structures, was a great sea of up-turned faces. To his surprise he found the passage he had followed opened perhaps halfway up what must be the great Ziggurat of Beelzebub. He judged the tower's height must be immense, for already the crowd was a good hundred feet below. "Zarotoa! Zarotoa! ù Wlanka!" Nelson shivered. How terrible was the wild, bloodthirsty clamor of that vast throng, when they beheld the six flower-decked prisoners appear upon the circular winding road which led to the lofty and wind-swept summit of the great conical pyramid of the people of Jezreel. Death to the victims! Behind the victims marched perhaps eighteen or twenty spearmen gorgeously uniformed in yellow and black painted armor. Their retortii were plated with gold, and in the center of a star forming the crest of each helmet was set a diamond large as a hickory nut. Preceding the despairing prisoners marched a squad of tall, clean-shaven priests with great gold hoops in their ears. They blew mightily upon long, curved horns, and were followed by perhaps a dozen lithe, posturing girls, half clothed in diaphanous yellow robes. These priestesses swung golden censers which flung bluish clouds of aromatic smoke high into the humid air above. Up and up, around and around the great tower temple, Nelson was dragged, while the vast city of Jezreel, palaces, towers, courts, dwellings and all, lay like a great panorama below. Up and up, and the wind grew stronger while Nelson marvelled at the great height of the structure he was mounting. Immediately in front of him swayed the naked shoulders of the three captive Atlanteans; he could see rose petals from their crowns fluttering in the strong warm breeze sweeping that man-made pinnacle for the worship of a heathen god. Despairingly, the American's eyes searched the horizon, to discover nothing but a few great birds wheeling lazily in the bronze-hued sky. Very clearly he could discern three of the flame suns, casting flame high from their peaks. "Alden!" he groaned. "Oh God, Alden, don't fail me!" Chilled by the fate in store, he scanned the dark and hostile faces below, but found no friendly visage. Up and up. The procession was now nearing the summit. There were hosts of poignant problems before him, each vital if Altara and the Empire of Atlans were to be saved; but one primary question immediately confronted him. How could he get his hands free? He ventured a few words in English to the stolid Atlantean at his side, whereat the fellow only stared dully and shook his red, flower-crowned head. He next tried to cautiously work loose his hands, but to no avail. The rope of plaited skin binding his aching wrists together was tough as any rawhide. Cursing, he abandoned the effort, and, as his eyes once more swept the great bloodthirsty throng below, he felt himself doomed indeed. About HackerNoon Book Series: We bring you the most important technical, scientific, and insightful public domain books. This book is part of the public domain. Various. 2009. Astounding Stories of Super-Science, March 1931. Urbana, Illinois: Project Gutenberg. Retrieved May 2022 from https://www.gutenberg.org/files/30166/30166-h/30166-h.htm#Page_376 . This eBook is for the use of anyone anywhere at no cost and with almost no restrictions whatsoever. You may copy it, give it away or re-use it under the terms of the Project Gutenberg License included with this eBook or online at www.gutenberg.org , located at https://www.gutenberg.org/policy/license.html

Chapter X: Phalanxes of Atlans 

Purple.com is apparently Virgin Atlantic’s choice of domain for its In-flight Wi-Fi landing page. But what does that mean? Greetings from sky bar of Airbus A330! Shortly after I boarded my favourite airline, I couldn’t help but notice the crew member sneak in something along the lines of, during the safety announcement. I did not, at the time know if this was an official branding strategy employed by Virgin or something that the cheeky crew manager made up uffice to say, the technical gears in my head started turning rapidly. “If you can’t find the page that lets you connect to Wi-Fi, just go to purple.com and you’ll get there,” in the air. S It’s clever. After all is Virgin Atlantic’s theme colour, as abundantly evident from cabin décor and colour scheme. But as always, I’m here to help you understand the technical workings behind the scenes that make “claiming” at 35,000 feet possible. purple purple.com In , the domain is owned by mattress giant and is actively used by them. On Earth, visiting would lead you to the mattress retailer’s website. This also becomes clear right after you pay for Gogo In-flight Wi-Fi and retry visiting in your browser. That’s when you’ll get to the mattress seller’s website instead. real life purple.com Purple® purple.com purple.com But that should make you wonder, how could be owned by Virgin Atlantic, Gogo Inflight Wi-Fi and the mattress seller all at the same time? This is where come into play. purple.com local domains Local domains and DNS Local domains or hostnames, in a make it possible for network administrators to (pun) and redirect it to an intranet website of their choice, such as a . That’s the “sign-on to Wi-Fi” portal typically presented by hotspots until you accept their terms of service or if applicable, pay the charges. Whether such a domain exists on the gigantic World Wide Web WWW or not, has no relevance. That means a network admin could make anything up … , whether these domains exist in on the internet or not isn’t a prerequisite. certain context, make any domain up in the air Captive Portal localhost axsharma, ax.wifi, inflight.com, purple.com, virginwifi.go… reality — Anyone connecting to the network — your routing devices or access points, will be redirected to the location of your choice when they visit these locally setup domains. In some cases, the Wi-Fi access point, also acting as the DNS server, can the actual IP address of a domain with a different one, thereby redirecting you elsewhere. through you override Local domains indeed make it possible to host your websites accessible only to a select few members of a dedicated network but not the outside world — the internet. It’s what makes possible! corporate intranet However, in case of most Wi-Fi hotspots — in-flight or on ground, local domains may not be at play because visiting virtually website should redirect you to the in-flight W-Fi purchase portal or “sign-in page,” as long as you haven’t paid charges or accepted terms of service. always any Typical workflow implemented by Wi-Fi hotspots ( ) Image credit Security This is also why when connecting to webpages beginning with https — which is nearly all of the pages today, over a public Wi-Fi hotspot, you get a series of SSL errors up until the point you “sign-in to the hotspot” or visit a non-HTTPS website. This happens because of a certificate mismatch. The website you are trying to visit, let’s say, is “ facebook.com” but the router is persistently redirecting all HTTP/HTTPS traffic to its access point homepage, the SSL certificate of which was issued (e.g. https:// only for that homepage airborne.gogoinflight.com). https:// An example SSL/TLS certificate mismatch errors Web browsers treat this as a security issue because you are visiting but effectively being served a website whose certificate clearly dictates you are on . Browsers see this as an ominous sign of a attack where an attacker has possibly in-flight routing devices to redirect users to a malicious page instead, although in most cases this isn’t the case. facebook.com airborne.gogoinflight.com Man-in-the-Middle (MitM) hijacked It can further be confirmed that local domains are not at play here by running a simple DNS lookup. Looking up the IP addresses of DNS servers, returned the same result and both in-flight (whether prior to or post payment) as well as on Earth. purple.com’s 104.20.55.235 104.20.56.235 DNS query (nslookup) results for purple.com in-flight, pre or post payment: DNS query (nslookup) results for purple.com on Earth: The finding implies aren’t really being used and rather employed by Gogo In-flight WiFi is redirecting any and all HTTP(S) traffic to its sign-in page, up until the point a payment is made. Had this not been the case and was officially setup locally by the network admin, we’d get very different DNS results at 35,000 feet and on Earth. local domains captive portal purple.com Impromptu Branding Although fair point to note, more likely than not, the name or for that matter is merely being used as a catchy, marketing phrase that’s easy to remember for passengers. In actuality, or phrase — even your own name followed by a forward slash, should redirect you to the in-flight Wi-Fi page as you’ve likely observed. purple.com any domain any domain purple.com or any domain redirects users to the Wi-Fi captive portal until they sign-in. When asked if had anything to do with strategic branding, Virgin Atlantic’s spokesperson officially responded with: purple.com the specific website mentioned isn’t something we’re affiliated with and it isn’t part of our procedure to tell our customers to use that site, so we expect that it was a case of the crew using their initiative on the day. But for Virgin Atlantic, this is clever marketing generated by the crew member. At over 35,000 feet you may easily lose track of time left to your destination or what your choice of red wine was, but stays fresh in your memory for long. on the fly purple.com © 2019. ( ). All Rights Reserved. Akshay “Ax” Sharma Twitter

How Virgin Atlantic's WiFi Landing Page is Purple.com

The Definitive Guide to Ethereum Classic’s Next Hard Fork The Atlantis ECIP-1054 Hard Fork has been announced with great reception amongst the stakeholders in the ETC ecosystem. The proposed changes will “Enable the outstanding Ethereum Foundation and network protocol upgrades on the Ethereum Classic network in a hard-fork code-named to enable maximum compatibility across these networks.” Spurious Dragon Byzantium Atlantis You can find the Hard Fork proposal on : ETC Labs Core Github etclabscore/ECIPs The team is available for questions and further discussion on the . ETC Labs Core Discord server The Hard Fork is targetted for block8_750_000 on the Ethereum Classic mainnet, expected some time in mid-September 2019 After this Hard Fork, the Ethereum Classic network will benefit from: A more of ETC predictable issuance rate (Change difficulty adjustment to target mean block time including uncles) EIP 100 The current formula does not include the “uncle rate”, which can lead to higher issuance rate if the “uncle rate” is manipulated. By adding this formula for calculating the exact number of included uncles: adj_factor = max(1 + len(parent.uncles) - ((timestamp - parent.timestamp) // 9), -99) The difficulty adjustment algorithm will now target a constant average rate of blocks produced that includes uncles Easier decentralized-application development The goal of Opcodes and Precompiled contracts is to make development of decentralized applications more efficient Opcodes (REVERT instruction in the Ethereum Virtual Machine) EIP 140 The REVERT instruction provides without consuming all provided gas and with the ability to return a reason. There is currently no way to do this without consuming all remaining gas. a way to stop execution and revert state changes, (New opcodes RETURNDATASIZE and RETURNDATACOPY) EIP 211 . After a call, return data is kept inside a virtual buffer from which the caller can copy it (or parts thereof) into memory. At the next call, the buffer is overwritten. A mechanism to allow returning arbitrary-length data inside the EVM (New opcode STATICCALL) EIP 214 This proposal adds a (or itself) while disallowing any modifications to the state during the call.This allows contracts to make calls that are clearly non-state-changing, reassuring developers and reviewers that re-entrancy bugs or other problems cannot possibly arise from that particular call; new opcode that can be used to call another contract it is a pure function that returns an output and does nothing else. Precompiled contracts (Precompiled contract for BIGINT modular exponentiation) EIP 198 This precompiled contract is for . The bit-based exponent calculation is done specifically to fairly charge for the often-used exponents of 2 (for multiplication) and 3 and 65537 (for RSA verification). efficient RSA verification inside of the EVM for easier execution of zkSNARKS Precompiled contracts (Precompiled contracts for addition and scalar multiplication on the elliptic curve alt_bn128) EIP 196 (Precompiled contracts for optimal ate pairing check on the elliptic curve alt_bn128) EIP 197 that are currently too expensive to verify within block gas limits. These precompiled contracts will and still be flexible enough for further research into zkSNARKS. zkSNARKS offer Privacy and Scalability solutions decrease gas costs A higher level of performance on Ethereum Classic (State-trie clearing) EIP 161 This EIP is focused on “debloating” blockchain state size by removing empty accounts, providing optimizations such as faster sync times (Contract-code size limit) EIP 170 <a href="https://medium.com/media/a8006af07b7d866f0c2378f2230a61d9/href">https://medium.com/media/a8006af07b7d866f0c2378f2230a61d9/href</a> This EIP where large pieces of account code can be accessed repeatedly at a fixed gas cost. , larger than any currently deployed contract. prevents an attack scenario The size limit is set to 24576 bytes (Embedding transaction status code in receipts) EIP 658 With the obsoletion of EIP98 and the introduction of REVERT in , there is no clear mechanism for callers to determine whether a transaction succeeded and the state changes contained in it were applied. , 0 indicating failure (due to any operation that can cause the transaction or top-level call to revert) and 1 indicating success. EIP 140 This EIP replaces the the intermediate state root with a status code Each change is documented in an EIP. The Technical specifications for each EIP can be found at those documents respectively: (Change difficulty adjustment to target mean block time including uncles) EIP 100 (REVERT instruction in the Ethereum Virtual Machine) EIP 140 (State-trie clearing) EIP 161 (Contract-code size limit) EIP 170 (Precompiled contracts for addition and scalar multiplication on the elliptic curve alt_bn128) EIP 196 (Precompiled contracts for optimal ate pairing check on the elliptic curve alt_bn128) EIP 197 (Precompiled contract for BIGINT modular exponentiation) EIP 198 (New opcodes RETURNDATASIZE and RETURNDATACOPY) EIP 211 (New opcode STATICCALL) EIP 214 (Embedding transaction status code in receipts) EIP 658 The proposed blocks to implement these changes are as follows: 1_039_000 on Kotti Classic PoA-testnet (early August 2019) 4_723_000 on Morden Classic PoW-testnet (early August 2019) 8_750_000 on Ethereum Classic PoW-mainnet (mid-September 2019) There was a recent discussion with several stakeholders about Atlantis that has been recorded and available here <a href="https://medium.com/media/d9240e63672c55469ddf3a06670149e9/href">https://medium.com/media/d9240e63672c55469ddf3a06670149e9/href</a> Interested in getting more involved with ETC? We’re focused on accelerating the development of Ethereum Classic and need your help! Reach out to us to see how you can get more involved today! We’re hiring! — https://www.linkedin.com/jobs/view/1144896854/ Our team links: Github , Medium , Twitter Come chat with us on Discord

Going to Atlantis: Ethereum Classic (ETC) ECIP-1054 Hard Fork

The best Christmas movie of all time isn’t really even a “Christmas movie” — or so says my wife. I know, I know, we’re deep in the middle of summer, but as I was trying to describe to my better half exactly what happened to the city of Atlanta a couple of months ago, we — naturally, of course — began talking about Die Hard, and whether or not it’s a Christmas film. We do this every time we talk about Die Hard. And every December it seems like the entire internet follows suit, and argues over , and the only conclusion that both parties are able to come to is that whether it’s in the spirit of Noel cinema, it’s a damn good action film. whether or not Die Hard is indeed a Christmas film Unfortunately, the following films in the Die Hard series … well, they were alright. The second film was a bit too campy, and Samuel L. Jackson was a fantastic addition to the third, but the fourth installation in the series is the film I want to focus on here. really In , John McClane is back once again to do battle with terrorists with a twist. This time, however, McClane’s enemies aren’t relying on bombs and machine guns. Instead, their nefarious plan kicks off with a “fire sale,” a designed to shut down a nation’s computer infrastructure and networked systems. Live Free or Die Hard cyberattack According to the Die Hard Wiki, there are : three stages of a fire sale Shutting down all transportation systems, such as traffic lights, railroad lines, subway system and airport systems. Stage 1: Disable the financial systems, including Wall Street, banks and financial records. Stage 2: Turning off public utility systems, such as electricity, gas lines, telecommunications and satellite systems. Stage 3: When this movie came out, a couple of people wrote about the , arguing that it be done, though the potential scale of the attack was uncertain. That was 10 years ago possibility of a fire sale could Fast forward a decade later, and the potential fire sale is no longer a question of “if,” but rather a matter of “when.” The Rise of Cybercrime: The Fall of Atlanta When it comes to cyberattacks in the real world, there are two types of threats you need to worry about: the state-sponsored attacker/terrorist deployed specifically to incite political change, and the cyber-criminal interested in making money via digital extortion or thievery. The latter is becoming just as big of a threat as state-sponsored actors due solely to the complete digitization of world, the distillation of nearly everything into “data.” The experts at the U of Cincinnati online criminal justice program write, in their piece : “The Cyber-Criminal Revealed” “Each piece of data that a cyber-criminal, or more accurately a cybercrime network, can steal is worth a certain price point on the black market. The last four digits of your social security number are useful on their own, but when coupled with a bank account number or credit card it becomes a goldmine. Even seemingly benign data like your birthday, your hometown, and your mother’s maiden name is valuable on the black market.” This is why the was such a big deal, with about 147.9 million Americans, as well as some Canadian and British nationals, affected by the breach. The problem is that Equifax lost what is called “lifetime data” — things like Social Security numbers that can’t just be changed like passwords can. 2017 Equifax hack The amount of data out there is vast, and cybercriminals are many. that by 2021, cybercrime damage costs will hit $6 trillion annually, while ransomware damage costs alone will rise to $11.5 billion in 2019. With that in mind, it should come as no surprise that criminal groups are becoming more bold and hitting higher value targets than ever before. Hospitals, due to the critical nature of their services, have become — it was only a matter of time before criminals decided to branch out and target other critical services. Nobody thought they’d be so bold as to target an entire city. Nevertheless, in May, an extremely efficient ransomware group known as SamSam, did just that. CSO Online reports perhaps the juiciest targets for ransomware attacks “In Atlanta, where officials said the ransom demand amounted to about $51,000, the group left parts of the city’s network tied in knots,” for the New York Times. “Some major systems were not affected, including those for 911 calls and control of wastewater treatment. But other arms of city government have been scrambled for days.” write Alan Blinder and Nicole Perlroth Perhaps they should have coughed up the ransom — the cost to the city is reaching close to $9.5 million in IT bills alone, while a third of the 424 software programs used by the city are still offline or partially disabled, and nearly 30 percent of those applications are “mission critical,” . as reported by Reuters This is bad news — and not just for the city of Atlanta, but for anybody living in city or town with connected infrastructure. Due to globalization, digitization, and competing world hegemonies, that includes just about everybody in the first world. Fire Sale: Everything Must Go Globalization is practically an unstoppable force, and one of . This includes the digitization of practically everything in the world, such the connection of city infrastructures to the internet. The truth is that SamSam is likely not even a U.S.-based ransomware ring — and yet, from some dark corner of the world, they were able to bring down the IT systems of the one of largest cities in the U.S., home to the world’s largest airport, and we still have no idea who the perpetrator is. Norwich University’s top issues involving national security today This is terrifying, and there’s . Somebody looking for a little money shut down an entire American metropolitan region. Imagine if they were terrorists or nation-state hackers, looking simply to cause damage and casualties instead of reap financial gain. The worst part of all of this is that we truly only have ourselves to blame for the Atlanta breach, and likely for any breaches that occur in the future. : no clearer sign that we are in danger Ilia Kolochenko, CEO at High-Tech Bridge, writes “In light of the shocking facts around the incident that virtually paralyzed the entire city, I think that the true problem is not ransomware. The problem is unreliable, overcomplicated and insecure-by- IT architecture. Segregation of duties, data and network access control, proper segmentation, daily backup, desktop hardening, anomaly detection — are de facto a must-have in any modern company or governmental entity. Apparently none were in place.” design The above highlights a topic that people have written articles on for years now, which have obviously had no effect. Our technological capabilities and their links to our critical infrastructure are proliferating faster than we are securing them. This is unacceptable and will lead to death and destruction of innocent people. I sincerely hope that this article is not able to be used in the future as “evidence that we knew an attack like this was possible,” but the way things are going, I’m not sure we’ll change our ways before we see some sort of firesale or cyber D-Day. There’s only one thing I’m certain of: the Atlanta cyber attack is more than a red flag or a warning — it’s a promise that we will see terrible, horrible things if we don’t shore up our the cybersecurity of our critical systems soon.

Ransomware in Atlanta is a Red Flag, Fire Sale Cyberattacks Could Be Next

Until last year I was not familiar with SXSW. Boasted as one of the largest tech conferences, and with a history spanning over 30 years, its loud performances somehow didn’t make it across the Atlantic Ocean, or if they did, the wind was not blowing in my direction. I then happened to notice one announcement that mentioned this conference focused in the intersection between technology and art and decided to tune in to the content live streamed on . Watching some videos of the talks of the 2017 event, back then, that connection seemed to be real. facebook On the other side of the ocean, in Lisbon, since 2015, we have Web Summit, also claiming to be one of the biggest tech conferences. Like in Southby there are dozens of talks with prominent figures of the tech world, addressing the hot topics of the moment such as VR, AI or Blockchain. True, some of the talks in Web Summit, usually in the last days, have musicians as hosts, but the focus is always in more “uptight” tech or at least there is not such an artsy vibe around it. However there is one thing that strikes me as particularly different, the proud connection with the arts world that its Texan contender shows. Just as London Major Sadiq Khan remarked, looking at the hipster avocado socks in an interview this year, at the event’s Facebook Studio, to the live stream host Douglas Caballero — he had never seen such a large number of hipsters. (To which the host responded by proudly by putting his feet on the table so that everyone in the remote audience could see). If someone from London is surprised at the quantity of hipsters at a tech conference, then perhaps someone from other city in Europe would be even more surprised: this marriage between art and tech is not so often proudly displayed. hipster, noun informal: a person who follows the latest trends and fashions, especially those regarded as being outside the cultural mainstream. Moving beyond socks and appearances, something more profound grants this conference — at least to the remote spectator — a different vibe. The intersection between digital and art is expressed by the panels on music, TV and film production or VR and AR enabled journalistic narratives, where the creative side takes the lead, while technology, not less proudly, assumes the supporting role. Moving also beyond the previous definition, a hipster always struck me as someone who was deeply sensitive to the arts, and that when spotted at these events, would be signaling that indeed a connection between art and tech had been well achieved. Tech as enabler for Art In music This year, Lyor Cohen— a legendary music executive that broke in artists such as Run-DMC or the Beastie Boys, went to stage to talk about his new role the Head of Music for Google / YouTube. After an overview of the ups and downs of his career in music, which turned out to be an overview of the history of hip hop as well, he concluded by explaining his acceptance of the challenge to work with the giants shaping the industry and contribute to the to the development of the industry he saw being disrupted from the first row. In journalism and visual arts VR Director Nonny de la Peña displayed how she used the technology to make people more aware of topics such as police violence or incarceration, and while most of it seemed to be along the lines of “bleed and lead” — a term I learned later that week when attending the Women in VR meetup at Altspace, it is clear how VR can be such an entry point for other journalists and artists to begin start using on their creations. technology Sasha Samochina, Immersive Reality Producer at NASA, confessed she was amused every time someone asked, in surprise, what an artist was doing there and talked about projects such as Accessmars.com in which the public can interact with images collected by the Curiosity Rover, and how she developed a fun first-person personality for the organization’s twitter account. There is the case, also, in which technology is liberated from its supporting role and becomes itself the focus of discussion. Tech as the focus of art In hit TV series There was a talk with the crew of Westworld — a dystopia about a technological advanced Wild West where robots exist to please the desires of visitors — whose first season was one of the most watched HBO original series. It seems that speculative implications about the dark side of technology, captured by series such as this and Black Mirror, is making its way into individual tv screens, prompting people to think about philosophical issues, such as the nature of reality or ethics, quite different from the light-heartedness of other tv series that used to be big hits. Tech as lever of societal unrest And the emergence of continued activism In a panel with Melinda Gates, the CEO of TaskRabbit, the COO of Hearst Magazines and a co-founder of the “Time’s Up” Movement, talked about the issues regarding women in tech (and overall), implying that that the movement is “here to stay” and perhaps even that no longer “laissez-faire” is acceptable to deal with the fast-paced change our society is undergoing. Ta-Nehisi Coates, correspondent of the Atlantic and author of the Black Panther series for Marvel Comics, in a keynote, repeatedly stressed the difference between a journalist and activist (and the claim that he belonged to the former category). According to him, while the latter had the purpose of making people act, the first didn’t. But anyone watching the movie knows the power of narrative that runs counter the “white-hero stereotype” seen in most of the movies can have in bringing people to conceive alternative futures for a society. One in which different people can be seen at the edge of technological advancement. We are now used to the title of “something / activist” being displayed to introduce someone about to give a speech in a tech conference, and that was not the case some years ago. And the need for effective personal development tools One of the other appearances that magnetized the audience was the one of New York times bestselling autho and psychotherapist Esther Perel. While on stage, she avidly answered questions from the millennial audience, addressing topics such loneliness (which she claims to be one of the major health problems in the US), the impacts of social media and the overall the need to bring the quality of relationships to the top of the agenda. Just by looking at the top charts of books sold, where more than one title of self-help type is likely to be present, it is clear that these topics are of concern to swats of people that are finding this advice crucial to deal with the amount of change our society is undergoing. And while all of this had some connection with technology there was space for talks about things that were almost purely analogue, like for example watching Run-DMC talk about his new series of comics books on the live TuneIn channel at SXSW. This seems quite unlikely to happen at other conferences , but somehow gives it a more human touch, as people are still living in analogue and digital worlds, and have not made the full transition in one fell swoop as these major conferences tend to make us think — at least in Lisbon it seems that once in an year, everyone in society is involved working in tech projects, while the reality, once you leave the conference rooms, is not like that. Having said that I am looking forward to seeing more avocato socks rocking their laptops, but more profound than that, a proudly displayed marriage between art and tech, because that is what is happening in any case.

Remote review of SXSW’18: looking at tech wearing hipster socks from the other side of the Atlantic

Table of Links Abstract and 1. Introduction 1.1 Option Pricing 1.2 Asymptotic Notation (Big O) 1.3 Finite Difference 1.4 The Black-Schole Model 1.5 Monte Carlo Simulation and Variance Reduction Techniques 1.6 Our Contribution Literature Review
Methodology 3.1 Model Assumption 3.2 Theorems and Model Discussion Result Analysis
Conclusion and References 5. CONCLUSION The research findings have demonstrated that finite difference methods offer a powerful tool for approximating option prices and hedging parameters, especially in cases where closed-form solutions are unavailable or impractical. The asymptotic analysis conducted in this study has provided valuable insights into the convergence properties and accuracy of finite difference approximations, shedding light on the optimal choice of discretization schemes and grid sizes for different option contracts. Furthermore, the combination of finite difference methods and Monte Carlo simulation with variance reduction techniques offers a comprehensive approach to hedge error analysis in option pricing. By leveraging the strengths of both methodologies, financial practitioners can obtain more robust and reliable estimates of option prices and hedge parameters, thereby enhancing their risk management capabilities and decision-making processes. It is important to acknowledge the limitations of this study and areas for future research. While the asymptotic analysis provides valuable theoretical insights, further empirical validation is warranted to assess the robustness of the findings across different market conditions and asset classes. Additionally, exploring alternative variance reduction techniques and incorporating more sophisticated models of market dynamics could yield further improvements in hedge error analysis and option pricing accuracy. this study has advanced our understanding of the factors influencing hedge errors and provided practical tools for mitigating their impact on derivative pricing and risk management. As financial markets continue to evolve, the insights gained from this research will remain valuable for academics, practitioners, and policymakers striving to enhance the efficiency and stability of global financial systems. REFERENCES [1] C. W. Smith, “Option pricing. 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Publ., vol. 2011, no. 583 CP, pp. 844–847, 2011, doi: 10.1049/cp.2011.0483. [19] M. S. H. Mojumder, M. N. Haque, and M. J. Alam, “Efficient Finite Difference Methods for the Numerical Analysis of One-Dimensional Heat Equation,” J. Appl. Math. Phys., vol. 11, no. 10, pp. 3099–3123, 2023, doi: 10.4236/jamp.2023.1110204. [20] I. R. Khan and R. Ohba, “Taylor series based finite difference approximations of higher-degree derivatives,” J. Comput. Appl. Math., vol. 154, no. 1, pp. 115–124, 2003, doi: 10.1016/S0377- 0427(02)00816-6. [21] S. Danho, “Pricing Financial Derivatives with the Finite Difference Method,” p. 237, 2017. [22] G. Connor and T. Lasarte, “An Introduction to Hedge Funds Strategies. Introductory Guide,” pp. 1–16, 2004, [Online]. Available: http://eprints.lse.ac.uk/24675/1/dp477.pdf [23] M. Nurul Anwar and L. Sazzad Andallah, “A Study on Numerical Solution of Black-Scholes Model,” J. Math. Financ., vol. 08, no. 02, pp. 372–381, 2018, doi: 10.4236/jmf.2018.82024. [24] J. Akahori, F. Barsotti, and Y. Imamura, “Hedging error as generalized timing risk,” Quant. Financ., vol. 23, no. 4, pp. 693–703, 2023, doi: 10.1080/14697688.2022.2154255. [25] R. C. A. Oomen and G. J. Jiang, “Hedging Derivatives Risks - A Simulation Study,” SSRN Electron. J., no. May, 2005, doi: 10.2139/ssrn.302525. [26] K. A. Froot, “Hedging Portfolios with Real Assets,” J. Portf. Manag., vol. 21, no. 4, pp. 60–77, 1995, doi: 10.3905/jpm.1995.409527. [27] H. E. LELAND, “Option Pricing and Replication with Transactions Costs,” J. Finance, vol. 40, no. 5, pp. 1283–1301, 1985, doi: 10.1111/j.1540- 6261.1985.tb02383.x. [28] T. Hayashi and P. A. Mykland, “Evaluating hedging errors: An asymptotic approach,” Math. Financ., vol. 15, no. 2, pp. 309–343, 2005, doi: 10.1111/j.0960-1627.2005.00221.x. [29] J.-L. Prigent, R. Hentati, and A. Kaffel, “Dynamic versus static optimization of hedge fund portfolios: the relevance of performance measures,” Int. J. Bus., vol. 15, no. 156, pp. 1–17, 2010. [30] R. A. Jarrow, D. Lando, and F. Yu, “Default Risk and Diversification : Theory and Empirical Implications * Default Risk and Diversification: Theory and Empirical Implications Abstract,” no. 607, 2003. [31] S. Kim, D. Jeong, C. Lee, and J. Kim, “Finite difference method for the multi-asset black-scholes equations,” Mathematics, vol. 8, no. 3, pp. 1–17, 2020, doi: 10.3390/math8030391. [32] D. Jeong, M. Yoo, and J. Kim, “Finite Difference Method for the Black–Scholes Equation Without Boundary Conditions,” Comput. Econ., vol. 51, no. 4, pp. 961–972, 2018, doi: 10.1007/s10614-017- 9653-0. [33] T. Guo, Black-Scholes Process and Monte Carlo Simulation-Based Options Pricing. Atlantis Press International BV, 2023. doi: 10.2991/978-94-6463- 010-7_75. [34] P. Glasserman, “Monte Carlo Methods in Financial Engineerring,” J. Chem. Inf. Model., vol. 53, no. 9, pp. 1689–1699, 2013. [35] Q. Jiang*, “Comparison of Black–Scholes Model and Monte-Carlo Simulation on Stock Price Modeling,” vol. 109, no. Icemci, pp. 135–137, 2020, doi: 10.2991/aebmr.k.191217.025. [36] E. Derman and E. K, “Stochastic Caclulus for Finance,” pp. 1–63, 2000. Authors:
(1) Agni Rakshit, Department of Mathematics, National Institute of Technology, Durgapur, Durgapur, India (spiritualagnimath.statml@gmail.com);
(2) Gautam Bandyopadhyay, Department of Management Studies, National Institute of Technology, Durgapur, Durgapur, India (gbandyopadhyay.dms@nitdgp.ac.in);
(3) Tanujit Chakraborty, Department of Science and Engineering & Sorbonne Center for AI, Sorbonne University, Abu Dhabi, United Arab Emirates (tanujit.chakraborty@sorbonne.ae). This paper is available on arxiv under CC by 4.0 Deed (Attribution 4.0 International) license. Table of Links Abstract and 1. Introduction Abstract and 1. Introduction Abstract and 1. Introduction 1.1 Option Pricing 1.1 Option Pricing 1.2 Asymptotic Notation (Big O) 1.2 Asymptotic Notation (Big O) 1.3 Finite Difference 1.3 Finite Difference 1.4 The Black-Schole Model 1.4 The Black-Schole Model 1.5 Monte Carlo Simulation and Variance Reduction Techniques 1.5 Monte Carlo Simulation and Variance Reduction Techniques 1.6 Our Contribution 1.6 Our Contribution Literature Review Methodology Literature Review Literature Review Literature Review Methodology Methodology 3.1 Model Assumption 3.1 Model Assumption 3.2 Theorems and Model Discussion 3.2 Theorems and Model Discussion Result Analysis Conclusion and References Result Analysis Result Analysis Result Analysis Conclusion and References Conclusion and References Conclusion and References 5. CONCLUSION The research findings have demonstrated that finite difference methods offer a powerful tool for approximating option prices and hedging parameters, especially in cases where closed-form solutions are unavailable or impractical. The asymptotic analysis conducted in this study has provided valuable insights into the convergence properties and accuracy of finite difference approximations, shedding light on the optimal choice of discretization schemes and grid sizes for different option contracts. Furthermore, the combination of finite difference methods and Monte Carlo simulation with variance reduction techniques offers a comprehensive approach to hedge error analysis in option pricing. By leveraging the strengths of both methodologies, financial practitioners can obtain more robust and reliable estimates of option prices and hedge parameters, thereby enhancing their risk management capabilities and decision-making processes. It is important to acknowledge the limitations of this study and areas for future research. While the asymptotic analysis provides valuable theoretical insights, further empirical validation is warranted to assess the robustness of the findings across different market conditions and asset classes. Additionally, exploring alternative variance reduction techniques and incorporating more sophisticated models of market dynamics could yield further improvements in hedge error analysis and option pricing accuracy. this study has advanced our understanding of the factors influencing hedge errors and provided practical tools for mitigating their impact on derivative pricing and risk management. As financial markets continue to evolve, the insights gained from this research will remain valuable for academics, practitioners, and policymakers striving to enhance the efficiency and stability of global financial systems. REFERENCES [1] C. W. Smith, “Option pricing. A review,” J. financ. econ., vol. 3, no. 1–2, pp. 3–51, 1976, doi: 10.1016/0304-405X(76)90019-2. [2] S. Guernsey, “an Introduction To the Black-Scholes Pde Model,” 2013. [3] B. Peeters, C. L. Dert, and A. Lucas, “Black Scholes for Portfolios of Options in Discrete Time,” SSRN Electron. J., no. 03, 2005, doi: 10.2139/ssrn.469022. [4] J. He, “A Study on Analytical and Numerical Solutions of Three Types of Black-Scholes Models,” Int. J. Trade, Econ. Financ., vol. 13, no. 2, 2022, doi: 10.18178/ijtef.2022.13.2.720. [5] A. S. Shinde and K. C. Takale, “Study of BlackScholes model and its applications,” Procedia Eng., vol. 38, pp. 270–279, 2012, doi: 10.1016/j.proeng.2012.06.035. [6] Y. Zhang, “The value of Monte Carlo model-based variance reduction technology in the pricing of financial derivatives,” PLoS One, vol. 15, no. 2, pp. 1–13, 2020, doi: 10.1371/journal.pone.0229737. [7] P. L. Bonate, “A brief introduction to Monte Carlo simulation,” Clin. Pharmacokinet., vol. 40, no. 1, pp. 15–22, 2001, doi: 10.2165/00003088- 200140010-00002. [8] D. R. Tobergte and S. Curtis, “Importance sampling for high speed statistical Monte-Carlo simulations,” J. Chem. Inf. Model., vol. 53, no. 9, pp. 1689–1699, 2013. [9] E. C. Anderson and M. Stephens, “Importance Sampling and (MC)^3,” Sisg 2020, vol. 2, no. July, pp. 1–29, 2020. [10] I. N. Medvedev, “Vector estimators of the Monte Carlo method with a finite variance,” Russ. J. Numer. Anal. Math. Model., vol. 28, no. 3, pp. 231– 244, 2013, doi: 10.1515/rnam-2013-0014. [11] E. Saliby and R. J. Paul, “A farewell to the use of antithetic variates in monte carlo simulation,” J. Oper. Res. Soc., vol. 60, no. 7, pp. 1026–1035, 2009, doi: 10.1057/palgrave.jors.2602645. [12] P. W. Glynn and R. Szechtman, “Some New Perspectives on the Method of Control Variates,” Monte Carlo Quasi-Monte Carlo Methods 2000, pp. 27–49, 2002, doi: 10.1007/978-3-642-56046-0_3. [13] W. Gustafsson, “Evaluating the Longstaff-Schwartz method for pricing of American options,” 2015. [14] L. Andersen and M. Broadie, “Primal-dual simulation algorithm for pricing multidimensional American options,” Manage. Sci., vol. 50, no. 9, pp. 1222–1234, 2004, doi: 10.1287/mnsc.1040.0258. [15] E. Wipplinger, Jim Gatheral: The volatility surface, a practitioner’s guide, vol. 22, no. 1. 2008. doi: 10.1007/s11408-007-0072-4. [16] M. Avellaneda and S. Stoikov, “High-frequency trading in a limit order book,” Quant. Financ., vol. 8, no. 3, pp. 217–224, 2008, doi: 10.1080/14697680701381228. [17] S. Mayoral, D. Moreno, and A. Zareei, “Using a hedging network to minimize portfolio risk,” Financ. Res. Lett., vol. 44, no. April, p. 102044, 2022, doi: 10.1016/j.frl.2021.102044. [18] S. Gayathri Devi, K. Selvam, and S. P. Rajagopalan, “An abstract to calculate big o factors of time and space complexity of machine code,” IET Conf. Publ., vol. 2011, no. 583 CP, pp. 844–847, 2011, doi: 10.1049/cp.2011.0483. [19] M. S. H. Mojumder, M. N. Haque, and M. J. Alam, “Efficient Finite Difference Methods for the Numerical Analysis of One-Dimensional Heat Equation,” J. Appl. Math. Phys., vol. 11, no. 10, pp. 3099–3123, 2023, doi: 10.4236/jamp.2023.1110204. [20] I. R. Khan and R. Ohba, “Taylor series based finite difference approximations of higher-degree derivatives,” J. Comput. Appl. Math., vol. 154, no. 1, pp. 115–124, 2003, doi: 10.1016/S0377- 0427(02)00816-6. [21] S. Danho, “Pricing Financial Derivatives with the Finite Difference Method,” p. 237, 2017. [22] G. Connor and T. Lasarte, “An Introduction to Hedge Funds Strategies. Introductory Guide,” pp. 1–16, 2004, [Online]. Available: http://eprints.lse.ac.uk/24675/1/dp477.pdf http://eprints.lse.ac.uk/24675/1/dp477.pdf [23] M. Nurul Anwar and L. Sazzad Andallah, “A Study on Numerical Solution of Black-Scholes Model,” J. Math. Financ., vol. 08, no. 02, pp. 372–381, 2018, doi: 10.4236/jmf.2018.82024. [24] J. Akahori, F. Barsotti, and Y. Imamura, “Hedging error as generalized timing risk,” Quant. Financ., vol. 23, no. 4, pp. 693–703, 2023, doi: 10.1080/14697688.2022.2154255. [25] R. C. A. Oomen and G. J. Jiang, “Hedging Derivatives Risks - A Simulation Study,” SSRN Electron. J., no. May, 2005, doi: 10.2139/ssrn.302525. [26] K. A. Froot, “Hedging Portfolios with Real Assets,” J. Portf. Manag., vol. 21, no. 4, pp. 60–77, 1995, doi: 10.3905/jpm.1995.409527. [27] H. E. LELAND, “Option Pricing and Replication with Transactions Costs,” J. Finance, vol. 40, no. 5, pp. 1283–1301, 1985, doi: 10.1111/j.1540- 6261.1985.tb02383.x. [28] T. Hayashi and P. A. Mykland, “Evaluating hedging errors: An asymptotic approach,” Math. Financ., vol. 15, no. 2, pp. 309–343, 2005, doi: 10.1111/j.0960-1627.2005.00221.x. [29] J.-L. Prigent, R. Hentati, and A. Kaffel, “Dynamic versus static optimization of hedge fund portfolios: the relevance of performance measures,” Int. J. Bus., vol. 15, no. 156, pp. 1–17, 2010. [30] R. A. Jarrow, D. Lando, and F. Yu, “Default Risk and Diversification : Theory and Empirical Implications * Default Risk and Diversification: Theory and Empirical Implications Abstract,” no. 607, 2003. [31] S. Kim, D. Jeong, C. Lee, and J. Kim, “Finite difference method for the multi-asset black-scholes equations,” Mathematics, vol. 8, no. 3, pp. 1–17, 2020, doi: 10.3390/math8030391. [32] D. Jeong, M. Yoo, and J. Kim, “Finite Difference Method for the Black–Scholes Equation Without Boundary Conditions,” Comput. Econ., vol. 51, no. 4, pp. 961–972, 2018, doi: 10.1007/s10614-017- 9653-0. [33] T. Guo, Black-Scholes Process and Monte Carlo Simulation-Based Options Pricing. Atlantis Press International BV, 2023. doi: 10.2991/978-94-6463- 010-7_75. [34] P. Glasserman, “Monte Carlo Methods in Financial Engineerring,” J. Chem. Inf. Model., vol. 53, no. 9, pp. 1689–1699, 2013. [35] Q. Jiang*, “Comparison of Black–Scholes Model and Monte-Carlo Simulation on Stock Price Modeling,” vol. 109, no. Icemci, pp. 135–137, 2020, doi: 10.2991/aebmr.k.191217.025. [36] E. Derman and E. K, “Stochastic Caclulus for Finance,” pp. 1–63, 2000. Authors: (1) Agni Rakshit, Department of Mathematics, National Institute of Technology, Durgapur, Durgapur, India (spiritualagnimath.statml@gmail.com); (2) Gautam Bandyopadhyay, Department of Management Studies, National Institute of Technology, Durgapur, Durgapur, India (gbandyopadhyay.dms@nitdgp.ac.in); (3) Tanujit Chakraborty, Department of Science and Engineering & Sorbonne Center for AI, Sorbonne University, Abu Dhabi, United Arab Emirates (tanujit.chakraborty@sorbonne.ae). Authors: Authors: (1) Agni Rakshit, Department of Mathematics, National Institute of Technology, Durgapur, Durgapur, India (spiritualagnimath.statml@gmail.com); (2) Gautam Bandyopadhyay, Department of Management Studies, National Institute of Technology, Durgapur, Durgapur, India (gbandyopadhyay.dms@nitdgp.ac.in); (3) Tanujit Chakraborty, Department of Science and Engineering & Sorbonne Center for AI, Sorbonne University, Abu Dhabi, United Arab Emirates (tanujit.chakraborty@sorbonne.ae). This paper is available on arxiv under CC by 4.0 Deed (Attribution 4.0 International) license. This paper is available on arxiv under CC by 4.0 Deed (Attribution 4.0 International) license. available on arxiv available on arxiv

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