Bits has developed a crypto investment product that is beginner-friendly and provides a low-friction way to accumulate Bitcoin and other cryptocurrencies by rounding up everyday purchases

Bits Financial

wUwDPglyJu9LOnkBAf4vxSpQgQZltcz7LWwEquhdm5kSQIkQlZtfxtSTsmawq6gVH8SimlC3W6TDOhhL2FdgvdIC7sDv7G1Z7pCNzFLp0lgB9ACm8r5RZOBiN5ske9cBVjlVfgmQ9VpFzSwzLLODhU7/ THg2iDrW3NGQZfz3SSWviwCe7GmNIvp5jEkGPCGcla4Fgdp/xuyewPk6NDlBewftLtHJVf=PAb3 2 Wondering what these jumbled messes of characters mean? These are the encrypted messages of a normal message sent by a user in private or group chat. Hey guys, how many are up to chill out this weekend with Vodka and hot dogs? Once you hit the send button, the messages reach the server and encrypted which becomes a bundle of jumbled characters. The encrypted jumbled characters are impossible to decrypt without knowing the passcode. Encryption in Today’s Messaging Platform as an Afterthought While most of the conversation in businesses and internal organization is carried over instant messaging platforms, securing the interaction is the major priority for businesses and companies to stay away from losing millions of dollars every year. Since the increase in security breaches of some global messaging platforms like the need for encryption algorithms is a must for most messaging applications. WhatsApp and Messenger, Encryption of Text Messages in Messaging Platforms May Be Common, But You’ll Have To Know More Than That; While it’s easy to encrypt text messages, it's a whole different story when it comes to files, videos, images, video/audio calls. Note: Reading text in video format results in reading thousands of words for just in 1 MB video. To make sure all your instant messaging, media files, audio/video calls and data transmitted over the servers are secure, end-to-end encryption is one of the reliable security technologies followed in most of the chat applications. There are several encryption technologies available in the market based on the form of the communication mediums. Before walking you through the different forms of encryption methods, let’s discuss encryption in instant messaging platforms. End-to-end Encryption - What It Is All About and How It Works? End-to-end encryption is an interesting piece of technology that simply works by scrambling the data communicated to prevent third-party or hackers from accessing the data while it is transmitted from one point to another point (device). The entire data (messages) is encrypted on the sender’s device and the recipient is only able to decrypt it. The prime hallmark of this encryption is nobody in the middle (the application provider, Internet service provider or hacker) can decrypt it.  The entire key exchange is explained below. Here, the cryptographic keys are used to encrypt and decrypt the messages stored in both the endpoints. In this scenario, Key exchange is considered as unbreakable technology using different algorithms. The End-to-end encryption technology is widely implemented in Enterprise instant messaging applications providers in the market like , which is considered as one of the finest security technology to secure every message (chat), image, audio & video calls carried over the messaging applications. MirrorFly The enterprise solution offers scalable video call APIs and SDKs with enriched features to scale video/voice calling experience across sectors. The video/voice calling APIs are armed with , Turn Servers to secure the calls. The Peer-to-peer voice call is carried over protocols that allows users to initiate calls from the application to carrier networks with quality calls. end-to-end encryption VoIP and SIP The instant messaging api & sdk also offers customizable communication channels, chat screen themes, unlimited user-base, in-house development team and one-time payment for functionalities and features to develop real-time messaging solution. MirrorFly, the instant messaging software/app provider facilitates major uses such as etc., Healthcare, Education, Social community, Finance & Banking There are several encryption algorithms used in messaging applications to protect the data transmission between two endpoints. Different Encryption Algorithms in Messaging Platforms 1. Triple DES The purpose of triple-DES was designed to replace the original Data Encryption Standard (DES) algorithm which was easily defeated by hackers. It uses three individual keys with 56 bits each. The total key length adds up to , but the experts say that strength is enough. This encryption is widely used in financial and other industries. 168 bits 112-bits in key 2. RSA It's a public key-encryption algorithm for messages sent over the internet. The RSA algorithm is considered as an asymmetric algorithm because it uses a pair of keys to encrypt and decrypt. You have your public key, which is used to encrypt the message and a private key to decrypt from another endpoint of the device. The RSA acts as a mumbo jumbo where the attackers and hackers find it quite it solid to break and time-consuming. 3. Twofish It’s found that one of the fastest of its kind where the keys used in this algorithm is of length and as a symmetric technique, In this algorithm, only one key is needed. Twofish is an open-source algorithm available in the market for any software applications. up to 256 bits 4. AES 512 Encryption It’s the successor of the encryption . The Advanced Encryption Standard is the algorithm trusted by the U.S Government and other top organizations. It uses numerous keys and the is considered impervious to all attackers. keys 256, 128 and 182 bits 512-bits key End-to-end Encryption: The Heart of Security for Instant Messaging Platforms While the end-to-end encryption settles as the heart of the messaging app data security and enables users to feel secure while exchanging their thoughts, it’s not and decrypt messages until a backdoor is being discovered by the attackers or hackers. 100% secure to encrypt As the businesses have more chances of getting attacked by hackers, most of the businesses dependent on communication platforms prefer who offer end-to-end security as the default privacy method to protect the messages relayed. enterprise chat api & sdk providers

Secure Instant Messaging Platform : The Importance of Security Algorithm in Chat Apps

In all my discussions and brainstorming sessions about crypto with others, I keep going back and forth on one particular aspect – reliable reading resources on various topics. Whenever something new comes up, the first thing on my mind is where to learn all about it. Where to read about vampire attacks in DeFi? What site to refer to for Austrian economics à la Bitcoin? Where to look at for tax filing guidance for capital gains in crypto? Where to get an ELI5 on yield farming ? And so on and so forth. The easiest way to solve this is to Google and read whatever comes up in the top search results, thereby leaving it to the SEO Gods to recommend the best study resources. Another way is to search for keywords in subreddits like . A downside of this is landing up on unrelated portals for learning about nuanced topics and having to go through unverified information. r/cryptocurrency If you are not mindful of your search term choices, you will probably end up getting a bunch of Twilight links like above Finding a single legit knowledge repository for, say, all-things-Bitcoin or, all-things-DeFi is difficult when there’s information overload and little oversight. So one of the first things I did when starting on my crypto journey and something that I continue to do even today is zero in on one portal for a topic like crypto taxation for all related reading. It usually takes a while to finalize on a reliable website because of initial cross-referencing, checking for author credentials etc. But once done, it saves a ton of effort and time for future research. Having said that, there will always be outlier topics that need Googling/referencing outside of these portals. But now that there’s a ready reckoner of top cryptocurrency guides available for me on various topics, I thought it would make sense to share these educational resources with others as well. A very meta list which I hope will turn out to be relevant for folks in crypto and blockchain. On Bitcoin – https://www.lopp.net/ by Jameson Lopp As I set off on my crypto quest, the first thing that I needed was a reliable archive for Bitcoin research material. After going through multiple repositories, I decided to make my primary Bitcoin reading library. The portal is authored and maintained by Jameson Lopp who is a software engineer focusing on Bitcoin. He has worked on various related projects like BitGo and Statoshi. Jameson is currently CTO at the crypto custody platform, Casa. lopp.net Lopp.net covers a wide gamut of topics ranging from bitcoin history, to operating a full node, to more advanced matters like using the bitcoin blockchain for data anchoring. It also hosts resources and outside links for setting up BTC wallets, free online courses, podcasts etc. I also got a lot of my Lightning Network reading material from lopp.net. For anyone starting from scratch, the best place to begin is at the page. Getting Started The sheer volume of BTC topics covered on lopp.net is mind boggling. This is just one of five resource categories there. On Taxation – https://accointing.com/en/taxes by ACCOINTING.com (+ Bonus I-Am-A-Noob Guide ) Crypto taxation is a biggie since regulation is unclear in many jurisdictions and more so in India where I am based out of. Plus, finding dependable info on crypto taxation is the hardest among the five topics here. All search queries result in standalone articles but no consolidated knowledge repo for FAQs or in-depth explanations on how to file crypto-related taxes with Indian authorities. So the next best thing was to look at guides for countries that have certain rules and regulations in place already, such as US, Germany, UK etc. For this, I found to be detailed and explained in simple terms. ACCOINTING.com offers crypto services like portfolio tracking and tax reporting. ACCOINTING.com's tax guides So far there are guides for , and taxes along with step-by-step resources for filing in US and Germany. There are also multiple options that explain how to either personally file reports or approach professional services. As a bonus, the site also has a for absolute beginners. This guide explains starter concepts in non-technical terms. Oh how I wish I had discovered one of these early on in crypto! US Germany UK guide section ACCOINTING.com's multi-country multi-language guides are expected to grow in scope On Blockchains and DLTs – https://bitsonblocks.net/ by Antony Lewis The blockchain-verse is dynamic and keeping track of developments is always a challenge. made this easier for me. It’s a blog focussed on blockchain technology which aims to cover the most important updates and the news worth knowing. From private blockchains to fintech applications to Hyperledger, the blog covers a lot of ground. The author, , believes that blockchains will make a notable difference in the lives of people and in the way businesses are run. He has been associated with crypto brokerage firm Paxos in the past, and now uses his knowledge about business, financial services and blockchains to “ ”. Bits on Blocks Antony Lewis distill it into something (hopefully) useful for you (the reader) Bits on Blocks also contains articles which explore different applications of blockchain technology. The posts there are suited for slightly advanced investors (and enthusiasts), who are well versed with the basics of blockchains and cryptocurrencies. With its focus on explaining the underlying technology driving various projects, tech-savvy investors will find this website educational and entertaining in equal measure. On General Crypto Topics – https://academy.binance.com/ by Binance The full scope of cryptocurrencies can be quite intimidating, especially for new entrants. With projects taking off every other day and technical jargons being coined constantly, even seasoned crypto veterans can have a hard time catching up. serves as an excellent go-to guide for understanding important topics related to crypto. An educational initiative by leading cryptocurrency exchange Binance, the Academy contains a repository of articles which explain a range of subjects in layman terms. From fundamentals of trading to technical concepts, the reading list covers all the bases. Binance Academy The prequalifying filters set Binance Academy apart from other guides in terms of ease-of-navigation There is also a handy list of sections which elaborately explain basic topics that beginners might find troublesome, such as setting up a Metamask wallet or trading on a decentralized exchange. For topics that aren’t covered yet, there’s a separate forum where readers can post their queries for other community members to answer. New articles are published at an interval of 2 or 3 days. Articles are marked as per their reading difficulty level, in terms of Beginner, Intermediate and Advanced. Whether you’re a newbie or an expert, there’s something for you in Binance Academy to simply read through at your leisure. On DeFi – https://finematics.com/ by Jakub Decentralized Finance (DeFi) has come up as one of the most exciting use cases of crypto and more so of Ethereum. Multiple DeFi platforms have mushroomed over the last few years, which allow users to deposit their crypto assets into liquidity pools (think of interest bearing products in banks) and earn handsome yields. The value of assets locked in various DeFi applications has already touched USD 15 billion, and is increasing day by day. It’s natural that any crypto enthusiast would want to dip his or her toes into the DeFi pie. is a convenient and well-documented source for all your queries related to DeFi. The site is maintained by Jakub, “ ” by his own admission. The Finematics’ website contains a host of articles which cover various aspects of DeFi. The content is arranged into 3 levels – Novice, Apprentice and Master – which helps the readers ramp up in a streamlined manner. Technical concepts are explained in a simple manner using recent news items as references, adding context to the topics being discussed and helping the readers relate more. Finematics a software engineer passionate about decentralized finance and cryptocurrencies It took me less than a week to read through the three DeFi levels on Finematics What’s unique about Finematics is that complicated technical concepts are presented through animated videos along with article explainers. When the site first started in 2018, Jakub used to post whiteboard animations to explain complex subjects. I am glad that he has continued that tradition. Anyone can use this site to learn about the latest news and developments from the world of DeFi, but I found it to be especially useful when beginning to learn new concepts in this space. With these 5 guides, you should have most of your bases covered in cryptocurrencies. However, it is an evolving space with new niches coming up every day. Let me know if you found more reading resources like these that helped you. Come say Hi at . Maybe I could add your reading recommendations to the list here or write about them in a follow up article. Telegram The author has no vested interest in any of the websites mentioned above. These are all reading resources and do not constitute any financial advice whatsoever. Disclosure:

The Ultimate Guide for Cryptocurrency Guides – No, This Is Not A Typo

What's the best way to analyze a public company's financial report for the second quarter? Well, I think you should keep it simple. All you have to do is compare the financial results from the second against the first quarter. The numbers always tell the truth, don't they? So, let's hear what Upwork's numbers have to tell us. O Captain! My Captain! Why Are You Leaving Your Ship That Still Floats? I can confirm first-hand that the Upwork team did an amazing job in creating a series of nice-looking presentations and tables as a part of their second quarter report. Unfortunately, it is not only the investors, but it's in our nature to look for the stock prices first. Here's what happens when you type "UPWK NASDAQ" in Google. Source: Tech Know Bits They go up and down, all the time. That's not a big deal. That's something called the "stock-market-roller-coaster." I saw it before when I did a follow-up on Freelancer dot com's stock market performance. Again, this isn't an unusual thing for a public company. What I found to be a bit unusual, though, were Upwork CEO's Stephane Kasriel transaction activities in the second quarter. Almost right after Upwork's report for the first quarter was announced, their stock prices plunged dramatically. In May, . Upwork's stocks dropped for more than 25% I did my very best to pinpoint the exact moment on the attached illustration. Someone may say, the timing was perfect. This transaction took place "in the middle of fall" of Upwork's stocks before they hit the record low on June 5th. Stephane Kasriel sold the jaw-dropping number of 280,000 shares Then, two weeks later, as soon as Upwork's stocks slightly recovered, . This time the timing wasn't perfect, but from a broker's point of view, it was still good enough to get the most out of your stocks. Stephane Kasriel sold another quantity of shares (120,000) It's not up to me to comment Stephane Kasriel's transactions. I will let the numbers and dates do all the talking. Moving on with Upwork's report. What All of These Got To Do With Me - I'm Just A Client Or Freelancer? Source: Upwork I understand that you just want to move on with your work as a freelancer or business as a client. Who has the time to bother with the financial reports? We aren't brokers, we are freelancers and clients. Right? I have to say that it's in your best interest to pay close attention to . Why? "Sales and Marketing" and "General and Administrative" costs in the official Upwork's report Upwork's Operating Expenses are every investor's mood killers, but these two, in particular, hurt all users. How? When you have a "tiny gap" between your Gross Profit and Total Operating Expenses, the following question is inevitable. Who's going to pay, so Upwork's show can go on? The first Upwork's financial report in 2019 killed the free bids/connects for freelancers. Do you remember? Here's where Stephane Kasriel explains how is this actually a good thing: a direct quote from the Upwork Inc (UPWK) Q1 2019 Earnings Call Transcript With the new Connects launch, freelancers will purchase Connects for $0.15 each, which is a decrease from the prior $1 per Connect price. To take into account the value of different projects, the number of Connects required to bid for our projects will vary from zero to six Connects depending on the size of the project, where previously every project required two Connects to bid. Bids submitted in response to invitations from clients will continue to be free. These changes in Connects are aimed at helping skilled professionals win more projects. We expect freelancers will submit fewer proposals, focusing on projects for which they are the most qualified and most likely to win. Did you think that the second quarter report will be more "merciful?" Here's a "nice" surprise for clients officially announced in : Upwork Stockholder Letter Q2 2019 (Page 8) We are also migrating all Upwork Standard clients from a 2.75% to a 3% payment processing and administrative fee when they transition to an Upwork Basic or an Upwork Plus account. We are ahead of our internal target in transitioning existing clients to Upwork Basic and Plus, which started in June 2019, and all new clients are defaulted to the new rate upon signing up. That's All Freelance Folks - Good Luck With Upwork's 3rd Quarter Report The music is still on board the Titanic. I don't have the courage to wait and analyze the next financial report for Upwork's third quarter. We think of the Titanic orchestra as heroes. I think that they did all passengers a bad favor in convincing them that the "business" was as usual. Did Upwork "orchestra" do the same for their users with this report?

Upwork Second Quarter 2019 Financial Report: Titanic Orchestra At Their Finest

Security Tends Toward Reactivity Securing organizations tends toward response if not just reactivity – backups are often at the end of the day and not usually tested to ensure that a restore would be valid; activity logs are aggregated and analyzed later on, so if anything happened, it’s discovered later; typical alerts are overabundant and take time to search through the bits and bytes in efforts to cut through the high amount of false positives to find any true culprit; and cameras come into play after something happens to see in hindsight what may have occurred. The search for real-time detection and analysis is evergreen. This real-time process has reached a highly respectable level with malware, email spoofing/phishing, and dangerous domain detection and protection, as demonstrated by the ubiquitous inclusion of features such as EDR, XDR, and in-depth email analysis in antimalware and internet security suites. A major driver of security solutions is the advancement in crime. Much of modern-day crime deals with stealing peoples’ data, so the tactics for that theft are improving. Additionally, the attack surface of data repositories is growing, making it easier for criminals to steal and harder for defenders to protect. Data is Treasure Data resembles treasure, and just like real treasure, it holds immense value but requires effort to be obtained and protected. · Importance: Just like some treasures are rare and irreplaceable, certain types of data are crucial and hold significant value. This could be financial data, intellectual property, personal information, or medical records. · Potential:  Like treasure chests, raw data might not reveal its true worth until analyzed and interpreted. Hidden patterns, trends, and insights can be extracted through data analysis, leading to valuable discoveries. · Vulnerability and Need for Protection: Similar to physical treasure, data requires robust security measures to prevent unauthorized access, breaches, and leaks. · Discovery and Exploration: The thrill of the hunt is a big part of the treasure hunting. Data exploration can lead to groundbreaking scientific discoveries, advancements in healthcare, and solving complex problems across various fields. Unlike a chest full of gold, data is constantly being generated and can be easily replicated. The true value lies in how it's managed, analyzed, and used. Just as a skilled treasure hunter needs tools and knowledge to find value, organizations need proper data management strategies and analytical tools to unlock the true potential of their data. Principles and Components of DDR According to a by ISC2 and Cloud Security Insiders: “Organizations are rapidly shifting workloads to the cloud, with 39% already operating more than half of their workloads in the cloud.” And in their study on adoption of cloud services, “Large companies saw an increase of 67%, and smaller companies increased cloud service use by 38%.” 2023 joint report according to Cloudwards To further underscore the value of data: “…data is the lifeblood of an organization…It’s not realistic to stop employees from collaborating with data or moving it to new places and systems to make better use of it. follows data across all these different assets.” Data Detection and Response Data Detection and Response (DDR) is an iteration of data security technology designed to address the challenges of protecting sensitive data. DDR focuses on the data itself, rather than just relying on perimeter defenses, and involves continuously monitoring and analyzing data flows in real-time across networks, endpoints, and cloud environments. The key principles of DDR include: · Classifying data based on its lineage and behavior, not just content alone · Tracking data movement across different assets and systems to maintain visibility · Taking real-time action to prevent data exfiltration and stop potential threats The primary components of DDR are: Monitoring: Continuously scan data activity across various sources (logs, endpoints, cloud environments). Detection: Identify anomalous data access and suspicious behavior using threat intelligence, analytics, and machine learning. Alerting: Generate timely and actionable alerts for security teams to investigate. Response: Take steps to isolate threats, contain breaches, remediate vulnerabilities, and recover compromised data. Data Detection – Your Resident Expert Data detection employs a combination of algorithms, statistical analysis, and machine learning to analyze vast amounts of data for irregularities. Security teams are : By establishing baseline patterns of normal behavior, data detection can swiftly identify deviations indicative of potential threats. This continuous monitoring of data streams, identifying those outliers, and flagging suspicious activities for further investigation is a complex dance necessary for proper discovery of relevant and real threats. Through this proactive approach, data detection acts as a frontline defense, enabling organizations to swiftly respond to emerging threats and safeguard their data assets. looking for anomalies “Anomaly detection, also known as outlier detection, identifies data objects or patterns that deviate from a dataset’s normal behavior. and identify anomalies that could signal potential threats.” Importance of Data Response Data response refers to the actions taken once potential threats or anomalies are detected in the data environment. This involves implementing real-time incident response measures to mitigate risks rapidly and effectively. DDR frameworks include incident response plans that empower organizations to respond swiftly to incidents, reducing the time it takes to detect and remediate threats and limiting the damage. Importance of proactive monitoring and continuous improvement. Proactive monitoring and continuous improvement are paramount in maintaining robust cybersecurity measures. By actively monitoring data systems, organizations can better detect and respond to threats before they escalate into full-scale breaches. Continuous improvement ensures that security measures progress alongside evolving threats and technological advancements. This proactive approach a) enhances resilience and b) fosters an organization-wide culture of vigilance and adaptability. Ultimately, it enables businesses to stay ahead of cyber threats and safeguard their data assets effectively. The Road Ahead Data is rapidly increasing in amount and its storage in cloud services. The better one’s ability to detect data motion and location, the better one can protect everyone involved. What’s your next step in protecting that treasure (whose whereabouts are known to you, not hidden)?

Data Security in the Cloud: Why You Need Data Detection and Response (DDR)

Virtual reality allows us to rebuild a more human society from the ground up - from financial systems to governance and the very concept of “state". "System" says the metaverse is the wrong way for humanity. It resists its development and tries to stop its popularity. In my opinion, rebuilding the existing world and its "system" is impossible. But it is possible in virtual reality. Consider this, we can create a world without bureaucracy, institutions, and an authoritarian legacy. With this article, I opt out of a current "system" built in our real world and encourage people not to fear metaverses as they are our future. I believe that virtual worlds should never be considered as a way to escape from reality - they are just as real and can be lived in. "The Matrix" and science fiction classics: can we consider these works suitable metaverse examples? Every writer is a kind of philosopher because every science fiction work is a mental experiment. The author makes some assumptions like the existence of intelligent machines or completely virtual reality, and on this basis, models the possible development of events. Philosophers do approximately the same thing. science fiction Stanisław Herman Lem is outstanding in this respect. Many of his ideas of the middle of the last century then passed into philosophy. Lana Wachowski and Lilly Wachowski in "The Matrix" also worked out some ideas and problems quite well, but I disagree with them on one of the main points. The main characters of "The Matrix" talk about the feeling of unreality of the world created by machines. They say this feeling appears because of some trifles and starts to drive them crazy. I am sure a human cannot distinguish a quality virtual reality from the real world. And in principle, there is no need for that. So there's no way we can tell we're living in a virtual world instead of the real one? Perhaps we can if the simulation turns out to be imperfect. For example, objects sometimes fall through surfaces. Or if the creators start communicating with us and showing us all sorts of unrealistic miracles, such as turning the Statue of Liberty upside down or moving the waters of the sea. However, I doubt even that would convince all people of the world's unreality. The hardest case is a perfect simulation completely indistinguishable from reality, in which the creators do not interfere. Then, it is not clear how we could test its artificiality. Any experiments would proceed exactly as they would in reality. It is difficult even to imagine what could be the proof of virtuality of such a world. Science is powerless here, leaving pure philosophy with no way to test hypotheses. We know that simulations can be created with computers. In 50 or 100 years, we will surely be able to create a virtual reality that is completely indistinguishable from the real world. The question then arises: how can we be sure that we ourselves are living in the real world and not in one of the simulations? Especially if we ourselves do not notice any difference. If there is no difference, it probably doesn't matter, does it? Let's imagine that tomorrow, we somehow reliably learn that our world is a computer simulation like the Matrix. I think it would shock people at first. Some people will think their whole life has been an illusion and a lie. They will feel terrible. But I think, little by little, people will get used to it and move on because the feeling of the reality of the world is not connected with what the world is made of. Subjective sensations will not become less real to us, nor will our experiences become less valuable if we learn that we live in a simulation. The Earth will continue to revolve around the Sun, friends will remain friends, and we will still need to do something to live. It will turn out that trees, buildings, and our own bodies are made up of bits rather than atoms - but what will that change for a particular person? In a sense, we already know that we live in a simulation. The world people think is real is merely the result of our bodies. We do not perceive physical reality directly; we only receive a model created by our eyes, ears, skin, and brain. Directly, we can perceive only our subjective experience: sensations, emotions, thoughts, and so on. And any external world is infinitely distant from us. That is why I tend to draw the line not between the real and the virtual but between the corporeal and the virtual. All worlds outside the human body (or, rather, outside the human mind) are virtual to a certain extent, including "real" physical reality. But no one seems to be confused by the fact that our human vision of reality has little to do with quantum mechanics, which shows the true structure of reality. We are not really interested in what the world around us is made of. The main thing is that it works according to certain rules. That is, it's all about a person's willingness to recognize the world as real and to behave as if everything around them has some significance. None of us think, "Everything around us is made of strange, incomprehensible atoms, so it's all an illusion". We're just living. Then why should we think this way about zeros and ones? Then what does it mean to be real? What is a person ready to recognize as real? First of all, the world must be objective; it must exist beyond our mind and beyond our will so that objects are stable and the spoon does not bend even when we think it is not there. Cause and effect relationships must work in this world so that people's actions lead to some changes, and those changes lead to the next change. This has to do with the way our brains work. It has long been thought that it receives undistorted information from the senses. In fact, the brain filters it to suit its expectations, which are influenced by previous experiences. Everything that enters the brain mixes with episodes of its memory - as if anticipating a picture of what is happening. This mechanism works already at the level of vision. Apparently, it is impossible to get rid of this peculiarity of the brain in principle because it was evolutionarily developed as a "prediction machine", which very much dislikes being wrong in expectations. Therefore, objectivity, causality, and predictability should be at the core of any virtual reality that wants to be human-friendly. Also, the world should not restrict people from interacting with each other. It is the contacts between people that weave together a shared reality, so a living virtual world is hardly possible without people's freedom to do both wonderful and terrible things together. Aren't the technical aspects important? The resolution and color of the picture, the presence of touch... It's all important, but in my opinion, it's secondary. Simply because we already have examples of virtual realities that are technically bad, but people are still willing to spend a lot of time in them to live their whole lives. Look at Second Life. It has outdated graphics with no real three-dimensionality. Users still sit in front of their monitors and see a flat picture. But that doesn't really bother them. Second Life, for almost 20 years of history, has become a prototype of the meta-universe - concerts and interviews with famous people take place in this virtual world. On the other hand, there are worlds with full-fledged VR, like VRChat and Rec Room, and none of them have been as successful as Second Life. So, people don't care so much about technical specs. The generation of 50-year-olds tends to think of games and other virtual worlds as something second-rate to mainstream reality. I don't think it has to do with their technical scarcity. Rather, they consider games meaningless, empty pastimes that do not impact real life. But this perception is outdated. Digital worlds have their own economies, people use them to solve social and political problems, and virtual realities have become more than just self-sufficient. They are already influencing the main, "real" reality. Virtual worlds should not be seen as a means of escapism, an escape from reality. Virtual worlds extend the physical world, and building a meaningful life in them is also possible. However, the technical aspects are important in terms of mass appeal: the worse a virtual world covers the human senses, the more potential users it scares away. Few people want to play computer games without sound, but a whole virtual world without sounds would probably seem like a completely unacceptable option. When will virtual reality become indistinguishable from the physical world? Right now, virtual worlds in the form of games and meta-universe are facing "childish" problems like the inconvenience of VR headsets. Of course, living a fulfilling life in a virtual reality with only pictures, sounds, dizziness, and neck pain is hard. I think it will take us 20 or 30 years just to start covering vision and hearing perfectly. Maybe partially cover touch, too. Virtual reality will become truly mainstream when it can simulate the smells, tastes, and bodily sensations of eating, drinking, and sex. It's unlikely to do this without a full-fledged neural interface that connects directly to the central nerves, as in "The Matrix". And it seems to me that such an interface will appear only by the end of the century. With the development of technical means, even the external difference between real and virtual worlds will become increasingly blurred until simulation becomes completely indistinguishable from physical reality. The virtual world does not have to copy the real world completely. The simulation can be completely fantastic, even fairy-tale-like - the main thing is that it remains fundamentally understandable and familiar to humans.

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