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In today’s world, for many people, conversing with AI has become as routine as discussing one’s coffee preferences with a barista (or it soon will be!). Yet, here lies an irony: . the more we interact with AI, the more elusive our understanding of these conversations becomes This irony essentially represents a modern twist on the “black box” dilemma, which has perplexed the ML community for years. The “black box” problem refers to the opaque decision-making processes of ML models (large language models (LLMs) including), where the rationale behind any given response is shrouded in complexity. Despite advances in technology, the inner workings of these models, governed by billions or soon trillions of parameters, remain largely inscrutable. Their decision-making is a puzzle, complicated by nonlinear interactions that defy straightforward interpretation. Prompting — the buzzing word of 2023 — doesn’t make it any better: we now have obscured layers of communication activated with every prompt. What we see — the prompt we type — is merely the surface. Beneath lies a hidden dialogue, an augmented system prompt, which is a complex, coded conversation the model conducts with itself, away from our understanding. And who knows what a model whispers to itself? So, if you were confused about prompting amid the avalanche of articles, blogs, and tutorials about it — you should be. As Ethan Mollick’s reveals, contrary to intuition, , such as pretending to navigate a Star Trek episode or a political thriller, demonstrating that traditional logical or direct prompts may not always yield the best responses from AI. research the most effective prompts involve imaginative scenarios But it also reveals that it’s not coherent and might change with a new version of the model. He mentions the futility of seeking a universal “magic phrase” for AI interaction, the effectiveness of specific prompting techniques like adding context, few-shot learning, and Chain of Thought, and the significant impact that prompts can have on AI performance. But for me — and I’ve been using AI a lot — many times, the most straightforward prompts, or “magic words,” can be surprisingly effective. How to explain it? A few years back, Explainable AI (XAI) was heralded as a solution to the “black box” issue, with entities like DARPA leading the charge (they created the , which has not been updated since 2021). However, the buzz around XAI seems to have dimmed, overtaken by a broader focus on Responsible AI. Is Responsible AI the solution? XAI toolkit So, that’s what we end up with: How do machines make decisions? — We don’t know! How to talk (prompt) to them? — We don’t know as well! But, please, keep shipping to us new, larger (though we will also take smaller) models! Why? — We don’t know! But we can’t stop. Great Article Covering the Topic An explanatory article about the concept of a black box: https://hackernoon.com/deep-learning-and-artificial-neural-networks-solving-the-black-box-mystery-rl7h32wa?embedable=true 🎁 Bonus: The Freshest Research Papers, Categorized for Your Convenience Special Category: Definitely Worth Reading : Discusses the development and advantages of 1-bit LLMs, promising significant cost reductions and efficiency improvements. The Era of 1-bit LLMs Read the paper : Introduces bGPT, a model that simulates the digital world beyond traditional modalities, predicting and diagnosing algorithms or hardware behavior. Beyond Language Models Read the paper Language Models in Specialized Domains : Integrates music understanding and generation capabilities into LLMs, demonstrating LLMs’ potential in music composition. ChatMusician Read the paper : Aims to bridge LLMs’ gap in interpreting structured data, enhancing their ability to ground knowledge in tables, graphs, and databases. StructLM Read the paper : Focuses on responsibly creating Code LLMs, contributing to advancements in coding benchmarks, and emphasizing model openness. StarCoder2 and The Stack v2 Read the paper : Discusses video generation’s potential as a unified interface for diverse tasks, outlining challenges and future directions. Video as the New Language for Real-World Decision Making Read the paper Enhancing and Merging Language Model Capabilities : Proposes a method to fuse knowledge from multiple chat models, improving chat model performance through a novel merging technique. FUSECHAT Read the paper : Details a multilingual language model that showcases superior performance in coding tasks and multilingual capabilities. Nemotron-4 15B Technical Report Read the paper : Explores latent multi-hop reasoning in LLMs, revealing their inherent capabilities and limitations in complex reasoning tasks. Do Large Language Models Latently Perform Multi-Hop Reasoning? Read the paper Scaling and Efficiency in Model Training : Discusses a system for training LLMs on over 10,000 GPUs, tackling efficiency and stability challenges in large-scale model training. MegaScale Read the paper : Proposes a theory for optimizing LLM learning, aiming for reduced training steps and improved performance. Towards Optimal Learning of Language Models Read the paper : Introduces a model combining gated linear recurrences with local attention, offering an efficient alternative for language processing tasks. Griffin Read the paper : Investigates the effects of scaling on fine-tuning LLMs, providing insights into data, model, and method impacts on bilingual tasks. When scaling meets LLM finetuning Read the paper Improving Robustness and Diversity in AI : Generates diverse adversarial prompts to enhance LLM robustness, employing an open-ended search method for prompt discovery. Rainbow Teaming Read the paper : Proposes a deterministic sampling technique for code generation, improving sample diversity and model performance in compiler optimization. Priority Sampling of Large Language Models for Compilers Read the paper Generative Models and Interactive Environments : Trains a generative model to create interactive virtual worlds from various inputs, advancing generative AI and simulation capabilities. Genie r Read the pape Enjoyed This Story? I write a weekly analysis of the AI world in the Turing Post newsletter. Subscribe for free using the button below and be the first to read the latest stories. The goal of Turing Post is to equip you with comprehensive knowledge and historical insights, so you can make informed decisions about AI and ML. 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Explainable AI and Prompting a Black Box in the Era of Gen AI

The battle over Google's Privacy Sandbox reveals a stark truth: incremental adjustments won't suffice in a privacy-conscious advertising environment. The IAB Tech Lab's assessment of the technology and Google's retort illuminate the limits of any single approach, underscoring the need for a fundamental rethinking of how advertising value is generated. The IAB's concerns about granular targeting, fingerprint risks, and competition are valid and are reinforced by a recent IAB/Ipsos report that estimates Google's Chrome changes could result in a loss of up to $10 billion in annual sell-side advertising revenue. Furthermore, the latest IAB report highlights significant limitations in the Privacy Sandbox itself, underscoring the need for the industry to explore diverse solutions. The shift from third-party cookies demands fresh thinking, not just incremental adjustments. Google's arguments about privacy-first tech and open-source collaboration must be weighed against the potential for unintended centralization of power. The true level of industry influence over Sandbox's evolution remains to be seen. It's Time for Bold Choices & Diverse Approaches This standoff is a catalyst, pushing the industry beyond reliance on any single solution. Publishers and advertisers alike surely have promising alternatives at their disposal. Seeking out and investing in these options will accelerate innovation and pave the way for an ethical advertising ecosystem. First-Party Data Power-Up For publishers and brands with direct user relationships, prioritizing first-party data strategies is paramount in the post-cookie era. This involves establishing robust consent mechanisms that give users transparent control over how their data is used (or not used).  Alongside consent, focus on enriching first-party data profiles. This means gathering declared interests, analyzing on-site behavior, and leveraging subscription or loyalty program information. The result?  Publishers can offer tailored ad experiences based on subscriber status, while retailers can intelligently leverage purchase history – all without the need for intrusive third-party tracking. Protection in the Math Differential privacy offers a mathematical approach to safeguarding user privacy. By strategically adding "noise" to datasets, it becomes impossible to identify specific individuals while still allowing for broader analysis. This makes it well-suited for measuring campaign reach or identifying trends without exposing sensitive user-level data.  A key challenge lies in striking the right balance between privacy protection and the detailed insights needed for some advertising use cases. Clean Rooms: Collaboration Under Lock & Key Clean rooms provide a secure environment for collaborative data analysis. Multiple parties, such as advertisers and publishers, can combine their datasets within the clean room without directly sharing the underlying raw user data. This collaboration is governed by strict rules, controlling the types of data allowed and ensuring only aggregated and anonymized insights are extracted. Clean rooms facilitate powerful use cases. For example, retailers and CPG brands can safely match data to uncover purchase patterns, and publishers can collaborate to offer advertisers broader audience segments  – all while safeguarding user privacy Success in the post-cookie era will likely require a mix of these approaches alongside some Sandbox components. The industry must demand transparency from Google, ensuring the Privacy Sandbox truly delivers on privacy and competitive openness.  Championing alternative solutions means investing in independent platforms and standardization around first-party data, differential privacy, and cleanroom technology. Collaborating fearlessly, even among rivals, and working under the watchful eye of regulators to establish common ground on privacy solutions and standards will be crucial for lasting change. From Privacy Crisis to Innovation Opportunity The Privacy Sandbox debate is a catalyst for reimagining digital advertising. Clinging to the past is as unsustainable as hoping Google holds all the answers. The future belongs to those championing privacy as a core value and driving innovation towards a multifaceted, ethical ecosystem. The third-party cookie's demise is a chance to rectify past errors. The pushback against the Privacy Sandbox, while raising valid concerns, ultimately serves a greater purpose. It forces the industry to confront uncomfortable truths about how user data has been exploited. This is a painful, but necessary, process of reinvention. The Essential Components of a User-Centric Future The path forward must be paved with solutions that put user control and transparency at the center. We need robust first-party data strategies that respect the user-publisher relationship. We need explorations of differential privacy and secure clean rooms to unlock insights without sacrificing individual rights. And yes, there may even be a role for some aspects of the Privacy Sandbox, provided there are safeguards and a true balance of power. This isn't just about technology – it's about a mindset shift. Advertising can thrive alongside respect for user privacy. The end goal should be an ecosystem where brands can build meaningful connections with audiences without resorting to intrusive tracking. Users deserve an online experience where they feel their data is safe and their choices are honored. The Privacy Sandbox debate, with all its complexities, is the push the industry needed. It's a wake-up call to build something better –  a more private, more secure, and ultimately more sustainable digital advertising landscape for everyone. Google's recent 1% Privacy Sandbox rollout in Q1 2024 indicates that this transition is no longer hypothetical. The time for decisive action is now. The battle over Google's Privacy Sandbox reveals a stark truth: incremental adjustments won't suffice in a privacy-conscious advertising environment. The IAB Tech Lab's assessment of the technology and Google's retort illuminate the limits of any single approach, underscoring the need for a fundamental rethinking of how advertising value is generated. advertising The IAB's concerns about granular targeting, fingerprint risks, and competition are valid and are reinforced by a recent IAB/Ipsos report that estimates Google's Chrome changes could result in a loss of up to $10 billion in annual sell-side advertising revenue. IAB/Ipsos report IAB/Ipsos report Furthermore, the latest IAB report highlights significant limitations in the Privacy Sandbox itself, underscoring the need for the industry to explore diverse solutions. The shift from third-party cookies demands fresh thinking, not just incremental adjustments. Google's arguments about privacy-first tech and open-source collaboration must be weighed against the potential for unintended centralization of power. The true level of industry influence over Sandbox's evolution remains to be seen. highlights significant limitations highlights significant limitations It's Time for Bold Choices & Diverse Approaches This standoff is a catalyst, pushing the industry beyond reliance on any single solution. Publishers and advertisers alike surely have promising alternatives at their disposal. Seeking out and investing in these options will accelerate innovation and pave the way for an ethical advertising ecosystem. First-Party Data Power-Up For publishers and brands with direct user relationships, prioritizing first-party data strategies is paramount in the post-cookie era. This involves establishing robust consent mechanisms that give users transparent control over how their data is used (or not used).  Alongside consent, focus on enriching first-party data profiles. This means gathering declared interests, analyzing on-site behavior, and leveraging subscription or loyalty program information. The result?  Publishers can offer tailored ad experiences based on subscriber status, while retailers can intelligently leverage purchase history – all without the need for intrusive third-party tracking. Protection in the Math Differential privacy offers a mathematical approach to safeguarding user privacy. By strategically adding "noise" to datasets, it becomes impossible to identify specific individuals while still allowing for broader analysis. This makes it well-suited for measuring campaign reach or identifying trends without exposing sensitive user-level data.  A key challenge lies in striking the right balance between privacy protection and the detailed insights needed for some advertising use cases. Clean Rooms: Collaboration Under Lock & Key Clean rooms provide a secure environment for collaborative data analysis. Multiple parties, such as advertisers and publishers, can combine their datasets within the clean room without directly sharing the underlying raw user data. This collaboration is governed by strict rules, controlling the types of data allowed and ensuring only aggregated and anonymized insights are extracted. Clean rooms facilitate powerful use cases. For example, retailers and CPG brands can safely match data to uncover purchase patterns, and publishers can collaborate to offer advertisers broader audience segments  – all while safeguarding user privacy Success in the post-cookie era will likely require a mix of these approaches alongside some Sandbox components. The industry must demand transparency from Google, ensuring the Privacy Sandbox truly delivers on privacy and competitive openness.  Championing alternative solutions means investing in independent platforms and standardization around first-party data, differential privacy, and cleanroom technology. Collaborating fearlessly, even among rivals, and working under the watchful eye of regulators to establish common ground on privacy solutions and standards will be crucial for lasting change. From Privacy Crisis to Innovation Opportunity The Privacy Sandbox debate is a catalyst for reimagining digital advertising. Clinging to the past is as unsustainable as hoping Google holds all the answers. The future belongs to those championing privacy as a core value and driving innovation towards a multifaceted, ethical ecosystem. The third-party cookie's demise is a chance to rectify past errors. The pushback against the Privacy Sandbox, while raising valid concerns, ultimately serves a greater purpose. It forces the industry to confront uncomfortable truths about how user data has been exploited. This is a painful, but necessary, process of reinvention. The Essential Components of a User-Centric Future The path forward must be paved with solutions that put user control and transparency at the center. We need robust first-party data strategies that respect the user-publisher relationship. We need explorations of differential privacy and secure clean rooms to unlock insights without sacrificing individual rights. And yes, there may even be a role for some aspects of the Privacy Sandbox, provided there are safeguards and a true balance of power. This isn't just about technology – it's about a mindset shift. Advertising can thrive alongside respect for user privacy. The end goal should be an ecosystem where brands can build meaningful connections with audiences without resorting to intrusive tracking. Users deserve an online experience where they feel their data is safe and their choices are honored. The Privacy Sandbox debate, with all its complexities, is the push the industry needed. It's a wake-up call to build something better –  a more private, more secure, and ultimately more sustainable digital advertising landscape for everyone. Google's recent 1% Privacy Sandbox rollout in Q1 2024 indicates that this transition is no longer hypothetical. The time for decisive action is now. 1% Privacy Sandbox rollout in Q1 2024 1% Privacy Sandbox rollout in Q1 2024

The Privacy Sandbox Standoff: A Quest for Sustainable Solutions in the Post-Cookie Era

Introduction Late in 2023, I was considering writing an article about Acorn Labs' work simplifying Kubernetes containers. I even started it and wrote a few paragraphs, but then I got busy with other things. At the time, I was going to revisit it in February 2024, they made a couple of announcements; one was for Rubra, and the other was more of a personal project by one of the co-founders, Darren Shepherd, called GPTScript. This project was so exciting that a month later, Acorn announced they were changing their company focus to GPTScript (not sure what would happen to Rubra). I’ve been following all the developments on this project, closer than I typically do, because I find it absolutely amazing as enablement technology. It reminds me of the philosophy behind a product I worked with back in the 80s and 90s called MPEX from VESOFT, written by Eugen Volokh. What Darren has done with GPTScript is kind of hard to wrap your head around at first, especially for a programmer. I haven’t spent enough time with it yet to fully understand all the implications, but I have a lot of thoughts about it. In this article, I’ll walk through some basic introductions and examples and give you some thoughts about where you could take it. Getting Started I worked off the docs and various videos and examples; I gave this a go on my Windows 11 laptop. Let’s get this sucker installed: winget install gptscript-ai.gptscript
$env:OPENAI_API_KEY = 'your-api-key' The docs suggest running a “hello world” example at this point, but that isn’t very interesting, so let’s try the “bob” example. Also, note that there are many built-in examples you can get a list of by issuing the gptscript—-list-tools command and an online ‘examples’ directory. What does “bob.gpt” look like? This presents us with some obvious questions, like what this all means and how a value of ‘How are you doing?’ ended up in the ‘question’ argument. GPTScript operates around the notion of tools where a tool is described in a GPT file. Each file can be made up of more than one named tool, separated by three dashes. Borrowing from the docs, Tool parameters are key-value pairs defined at the beginning of a tool block before any instructional text. They are specified in the format key: value. The parser recognizes the following keys (case-insensitive and spaces are ignored): A tool starts with a preamble that defines the tool's name, description, args, available tools, and additional parameters. The preamble is followed by the tool's body, which contains the instructions for the tool. Comments in the preamble are lines starting with # and are ignored by the parser. Comments are not really encouraged as the text is typically more useful in the description, argument descriptions, or instructions. I’m still not sure why Bob was giving a default value for the argument. It would change if I gave it an argument, so that was a bit of a mystery. I decided to try the samples-readme.gpt script, which looks like this: Reading this, I understood that it would give me a summary of each gpt file in the examples directory. When I first tried it without an argument, it failed to find any input, so I tried with an example file as an argument, and it worked. Then I tried it with their larger example script for hacker-news-headlines, and instead, it did what I thought it should have done the first time. It created a readme.md file in the examples directory with a summary of each example. I’ve seen people in the community starting to generate some very cool tools that are being added to the GPTScript tools web page. I had a little bit of mixed results with my tests. Most things worked as expected, but I had a few things that didn’t, and I didn’t have the opportunity to dig deeper. That said, this is clearly powerful, and it is just scratching the surface. Summary As a lifelong programmer, this feels weird; it involves doing things in ways that seem like something is missing. This makes GPTScript fascinating and scary as if black magic is involved somehow. The natural language and loose feel of it take a little getting used to, but as you think about it, you start to realize how amazing this can be as an enablement technology. One of the first things that came to mind, but I didn’t test, was could this be used to drive OpenFoam? OpenFoam is open-source CFD software that is rather notorious for how difficult it is to use, which is why I never learned how to use it. What if I could just describe what I wanted to do with it, and it worked? Imagine doing this with any software with an API you could talk to. My mind starts to explode thinking about it. Acorn has created an online “tools” catalog that you can utilize, and they are iterating at an insane pace. This is really exciting. Check out my other What the Heck is… articles at the links below: What The Heck Is DuckDB?
What the Heck Is Malloy?
What the Heck is PRQL?
What the Heck is GlareDB?
What the Heck is SeaTunnel?
What the Heck is LanceDB?
What the heck is SDF?
What the Heck is Paimon?
What the Heck is Proton?
What the Heck is PuppyGraph? Introduction Introduction Late in 2023, I was considering writing an article about Acorn Labs ' work simplifying Kubernetes containers. I even started it and wrote a few paragraphs, but then I got busy with other things. At the time, I was going to revisit it in February 2024, they made a couple of announcements; one was for Rubra, and the other was more of a personal project by one of the co-founders, Darren Shepherd , called GPTScript . Acorn Labs Acorn Labs Darren Shepherd Darren Shepherd GPTScript GPTScript This project was so exciting that a month later, Acorn announced they were changing their company focus to GPTScript (not sure what would happen to Rubra). announced announced I’ve been following all the developments on this project, closer than I typically do, because I find it absolutely amazing as enablement technology. It reminds me of the philosophy behind a product I worked with back in the 80s and 90s called MPEX from VESOFT, written by Eugen Volokh. What Darren has done with GPTScript is kind of hard to wrap your head around at first, especially for a programmer. I haven’t spent enough time with it yet to fully understand all the implications, but I have a lot of thoughts about it. In this article, I’ll walk through some basic introductions and examples and give you some thoughts about where you could take it. Getting Started I worked off the docs and various videos and examples; I gave this a go on my Windows 11 laptop. Let’s get this sucker installed: docs docs winget install gptscript-ai.gptscript
$env:OPENAI_API_KEY = 'your-api-key' winget install gptscript-ai.gptscript
$env:OPENAI_API_KEY = 'your-api-key' The docs suggest running a “hello world” example at this point, but that isn’t very interesting, so let’s try the “bob” example. Also, note that there are many built-in examples you can get a list of by issuing the gptscript—-list-tools command and an online ‘ examples ’ directory. examples examples What does “bob.gpt” look like? This presents us with some obvious questions, like what this all means and how a value of ‘How are you doing?’ ended up in the ‘question’ argument. GPTScript operates around the notion of tools where a tool is described in a GPT file. Each file can be made up of more than one named tool, separated by three dashes. tools Borrowing from the docs, Tool parameters are key-value pairs defined at the beginning of a tool block before any instructional text. They are specified in the format key: value. The parser recognizes the following keys (case-insensitive and spaces are ignored): Tool parameters are key-value pairs defined at the beginning of a tool block before any instructional text. They are specified in the format key: value. The parser recognizes the following keys (case-insensitive and spaces are ignored): A tool starts with a preamble that defines the tool's name, description, args, available tools, and additional parameters. The preamble is followed by the tool's body, which contains the instructions for the tool. Comments in the preamble are lines starting with # and are ignored by the parser. Comments are not really encouraged as the text is typically more useful in the description, argument descriptions, or instructions. A tool starts with a preamble that defines the tool's name, description, args, available tools, and additional parameters. The preamble is followed by the tool's body, which contains the instructions for the tool. Comments in the preamble are lines starting with # and are ignored by the parser. Comments are not really encouraged as the text is typically more useful in the description, argument descriptions, or instructions. I’m still not sure why Bob was giving a default value for the argument. It would change if I gave it an argument, so that was a bit of a mystery. I decided to try the samples-readme.gpt script, which looks like this: Bob samples-readme.gpt Reading this, I understood that it would give me a summary of each gpt file in the examples directory. When I first tried it without an argument, it failed to find any input, so I tried with an example file as an argument, and it worked. Then I tried it with their larger example script for hacker-news-headlines , and instead, it did what I thought it should have done the first time. It created a readme.md file in the examples directory with a summary of each example. hacker-news-headlines readme.md I’ve seen people in the community starting to generate some very cool tools that are being added to the GPTScript tools web page. I had a little bit of mixed results with my tests. Most things worked as expected, but I had a few things that didn’t, and I didn’t have the opportunity to dig deeper. That said, this is clearly powerful, and it is just scratching the surface. Summary As a lifelong programmer, this feels weird; it involves doing things in ways that seem like something is missing. This makes GPTScript fascinating and scary as if black magic is involved somehow. The natural language and loose feel of it take a little getting used to, but as you think about it, you start to realize how amazing this can be as an enablement technology. One of the first things that came to mind, but I didn’t test, was could this be used to drive OpenFoam ? OpenFoam is open-source CFD software that is rather notorious for how difficult it is to use, which is why I never learned how to use it. What if I could just describe what I wanted to do with it, and it worked? Imagine doing this with any software with an API you could talk to. OpenFoam OpenFoam My mind starts to explode thinking about it. Acorn has created an online “ tools ” catalog that you can utilize, and they are iterating at an insane pace. This is really exciting. tools tools Check out my other What the Heck is… articles at the links below: What The Heck Is DuckDB? What the Heck Is Malloy? What the Heck is PRQL? What the Heck is GlareDB? What the Heck is SeaTunnel? What the Heck is LanceDB? What the heck is SDF? What the Heck is Paimon? What the Heck is Proton? What the Heck is PuppyGraph? What The Heck Is DuckDB? What The Heck Is DuckDB? What the Heck Is Malloy? What the Heck Is Malloy? What the Heck is PRQL? What the Heck is PRQL? What the Heck is GlareDB? What the Heck is GlareDB? What the Heck is SeaTunnel? What the Heck is SeaTunnel? What the Heck is LanceDB? What the Heck is LanceDB? What the heck is SDF? What the heck is SDF? What the Heck is Paimon? What the Heck is Paimon? What the Heck is Proton? What the Heck is Proton? What the Heck is PuppyGraph? What the Heck is PuppyGraph?

What the Heck Is GPTScript?

Recently, I had the opportunity to connect with , the Executive Director at , creators of the Ethereum Name Service (ENS). Our conversation came at a particularly exciting time for web3—possibly on the cusp of a bull market—and for ENS, which is seeing important milestones like its recent . Khori shared his vision of the “new internet,” emphasizing the role of digital identity and the push toward user-centric platforms in shaping an inclusive digital future. Khori Whittaker ENS Labs partnership with GoDaddy Khori, what exactly drew you into web3? My personal and professional journey has always been one of learning—and teaching. Throughout my career, I’ve been at the intersection of business and education, managing schools in the US for most of the past decade. My interest in adopting new technologies early led me to blockchain in late 2017. I started exploring how it could be applied in education, leading to exciting experiments with a blockchain-based student information system. This path then took me to Circle (USDC) where I engaged in a project focused on the talent side. It was then that I connected with , the founder of ENS. We started talking, and one thing led to another. Nick Johnson Today, I really see web3’s potential in transforming the internet as we know it. It redefines how we manage ownership online, improves access to information and resources previously out of reach, and fosters inclusive innovation through decentralized technology. You might hear me talk about Circle and ENS because both focus on breaking into mass adoption. On the monetary side, stablecoins like USDC or USDT allow you to send a transaction instantly and globally without going through all sorts of hoops. Once you experience that, you can’t go back. Then there’s the identity piece. With ENS, you possess a personal identity that is not bound to any specific platform, allowing you to carry it across the digital space. You can use it for transactions, reputation proofs, as a web domain… you name it! How do you see decentralized identity evolving in the future? I hope that in the future, we won't even be discussing web3—it will simply be the new version of the internet. At ENS, our goal is to welcome people into this new era. Currently, users' online identities are mainly stored and hosted on centralized servers controlled by major email and social media corporations. Web3 is about self-sovereignty and ownership. ENS gives users the freedom to carry their identities across platforms while maintaining their social graph and connections seamlessly as they move through digital spaces. For example, I've used Farcaster and Supercast, maintaining the same social network on both. When Warpcast experienced downtime, Supercast remained accessible, showing the resilience of decentralized identities. So, I believe the newfound control and autonomy over one’s digital presence will profoundly affect users in the years to come. What are some practical applications for digital identity? Education is a good example. Imagine being able to add your academic records directly to your digital identity. If you're a college student or recent graduate and need to share your transcript, you often have to pay your institution a fee to send it. Instead, these records could be linked to your digital identity, giving you control over who accesses them. That’s a basic user right. This extends to privacy enhancements we envision with zero-knowledge Layer 2 solutions. For instance, you could verify that you belong to a certain age group without revealing your exact age or share specific qualifications without disclosing all details. The same principle could apply to health and financial records. What parts of web3 identity haven’t been solved yet? One challenge is that we are still not really building for the next billion users. As a space, we are guilty of building for our niche little community over the past decade. This only works for tech-savvy users who are comfortable dealing with seed phrases and signing messages. It’s time we put the everyday person front and center. The other challenge is getting platforms like Facebook and X to recognize decentralized identities. But will they? It’s hard to say. They're reaping significant benefits from owning all our information. Yet, there's hope that social media sites like Farcaster might gain more traction. It’s unlikely that the traditional platforms will be able to maintain their hold indefinitely, especially as people begin to explore and understand what’s possible in the decentralized space. How does ENS think about onboarding this “next billion?” In the web3 space, we're all envisioning the future—the possibilities of 2030 and 2040. Yet, it feels like we're still playing by the rules set in 2012. It's time to update our playbook. The way we build our protocols and projects is crucial. I believe in moving from discussion to action. A key part of this action is establishing a digital identity for users, which is where ENS comes in. It's surprising to see so many new projects overlook the importance of a simple, user-friendly identity solution in favor of complex hexadecimal addresses. Identity solutions should be foundational, not an afterthought. Whether it's ENS or another service, the focus should be on prioritizing the user's needs from the start. Also, we can’t just keep talking to ourselves in a bubble. For example, our partnership with GoDaddy, which introduced ENS-enabled domains to millions of users, is a step toward a wider audience. Now, whether the users are ready to take the leap is the question—but the road is paved and ready. On our side, the adoption of ENS is growing, with hundreds of thousands already using .eth domains. The launch of Coinbase's subdomain service has expanded ENS usage to millions more. Similarly, Uniswap's introduction of uni.eth usernames saw significant uptake in just a few days. By collaborating with these large platforms to integrate ENS technology, we're extending its reach and making it a part of more users' online experiences. This enhances the users’ experiences and furthers adoption. cb.id We need to create B2C applications that genuinely appeal to everyday consumers, craft B2B solutions tailored to current business needs, and initiate what I call B2G (Business to Government) efforts to optimize the operations of local, municipal, and national governments. Solving real needs in the real world will bring the next billion users on board. Could these innovations ultimately help reshape societal values? In many parts of the world, people often feel like bystanders in their own stories. They witness decisions made by governments and corporations without having a say, leading to a sense of helplessness. Technology can shift our mindsets; our mindsets, in turn, can shape technology. I’m hoping that web3 will lead to a whole new way of approaching life. For example, by advocating for self-sovereign and decentralized identities, we can empower people to regain control and ownership. Maybe you don't have to just accept what's happening to you or your community anymore. We can come together, drive change, and pool resources to foster communities and decentralized autonomous organizations (DAOs) that push forward local initiatives. Thinking about concepts like network states, this is where societal change begins. It's about recognizing the power of collective action. This tech is not only about tearing down barriers but also about connecting people. Can you share your approach towards Layer 2 protocols and their significance today? Our strategy is grounded in active listening to the developers and the community, which informs our roadmap. A concern we’ve noted is the cost associated with domain registration and maintenance on Layer 1 networks. Even though a domain might only cost around $5, gas fees can go up to $25 or $30, which may discourage the user. And naturally, modifying your domain or adding records incurs additional on-chain fees. The recent Dencun update on Ethereum has helped, but our goal is to reduce these costs even further to simplify and accelerate how users manage their digital identities. What excites me about Layer 2 solutions is the opportunity to prioritize user experience from the outset. By considering what is lacking in current L1s and L2s, we can avoid those pitfalls. We're given a fresh start and ample time to craft something user-friendly that advances the protocol. At ENS Labs and within our wider community, there's ongoing research into various Layer 2 technologies, including discussions with Arbitrum or Optimism, and even the prospect of creating a dedicated ENS chain. Exciting! What are some other plans ENS has for the future? Naming anything/everything! We believe in humanizing the digital space, naming everything from wallet addresses to smart contracts. Not many know that ENS already has the capability to name smart contracts. This allows users to interact with contracts more transparently, knowing exactly what they engage with. Our vision extends to global adoption, making this intuitive naming system accessible worldwide and encouraging prominent organizations to integrate ENS names. We've already started making strides in this direction, such as our collaboration with the International Rescue Committee, facilitating crypto philanthropy with just a few clicks. This year, our focus is sharply on Layer 2 solutions. We're looking to collaborate with leading players from the traditional web and economic sectors, including businesses, governments, and more. Our goal is to simplify the internet for the future while prioritizing safety, security, and ease of use.

An Interview With Khori Whittaker: On ENS, Decentralized Identity & Socials, and the Next Billion

Unstable Protocol's Pioneering Leap Take into consideration a scenario in which the conventional boundaries of banking are not just stretched, but also completely rethought. This is not only a pipe dream in the realm of digital banking; rather, it is rapidly becoming a reality, particularly in light of the emergence of decentralised finance (DeFi). Not only is this transformation a narrative about technology, but it is also a story about ambition, the struggle to overcome obstacles, and the search for a financial system that offers power to everyone. Today, we are going to discuss Unstable Protocol, a project that is at the core of the Liquid Restaking Token Finance (LRTfi) industry, as well as its most recent achievement, which is a significant investment round that will alter the manner in which we perceive and make use of digital assets. Good news greeted the DeFi community as they awoke on morning of March 27, 2024, Unstable Protocol had declared that they had successfully completed a seed fundraising round, which resulted in an investment of $2.5 million. This initiative aims to change the landscape of LRTfi, and has gained investment from a considerable number of funds that are associated with Ethereum, including Lattice and Laser Digital (Nomura Group), Blockchain Founders Fund, and several other funds. This significant investment will not only provide Unstable Protocol with the necessary resources to further develop their platform, but it also serves as a validation of the potential impact that their project could have on the decentralized finance space. The Essence of LRTfi and Unstable's Vision LRTfi stands at the intersection of innovation and utility in DeFi enabling users to employ liquid staking and restaking tokens in novel yield strategies for enhanced returns using this approach Unstable Protocol layer for this burgeoning market, particularly focusing on (re)staked Ether.  The LRT market has gone from being nonexistent to being valued at around $50 billion, which provides as a sense of the significance of Unstable's undertaking despite the fact that it has risen drastically. This fast ascent highlights the unrealized potential and the insatiable appetite for innovation that exists within the world of decentralised finance. It is the pioneering usage of zkOracles that is at the heart of Unstable Protocol's approach. This utilisation improves the DeFi usefulness for the LRT and LST ETH market. This technological innovation is not only a technical accomplishment; rather, it is a strategic move that aims to bring the whole DeFi ecosystem to new heights of efficiency and security. The fact that Unstable has formed partnerships with platforms like as Axelar and technology solutions that are driven by Succinct Labs demonstrates the company's dedication to not just engaging in the public finance field but also leading it. Final Thoughts: The Journey Continues The community of decentralised finance enthusiasts is waiting with bated breath as Unstable Protocol releases its testnet. The path that lies ahead is replete with opportunities, obstacles, and the promise of a financial system that is more transparent and effective for all parties involved. With the support of forward-thinking individuals and the power of ground-breaking technology, Unstable is on the verge of completely redefining the future of distributed finance. Don’t forget to like and share the story! This author is an independent contributor publishing via our brand-as-author program. HackerNoon has reviewed the report for quality, but the claims herein belong to the author. #DYOR Vested Interest Disclosure:

Unstable Protocol Shakes Up DeFi with a $2.5M Seed Funding Triumph

অস্থির প্রোটোকল $2.5M বীজ তহবিল ট্রায়াম্ফের সাথে DeFi কে কাঁপিয়ে দেয়

Das instabile Protokoll erschüttert DeFi mit einem Triumph bei der Startkapitalfinanzierung in Höhe von 2,5 Millionen US-Dollar

Un protocolo inestable revoluciona DeFi con un triunfo de financiación inicial de 2,5 millones de dólares

Un protocole instable bouleverse DeFi avec un triomphe de financement de démarrage de 2,5 millions de dollars

अस्थिर प्रोटोकॉल ने $2.5M सीड फंडिंग विजय के साथ DeFi को हिला दिया

不安定なプロトコルが250万ドルのシード資金獲得でDeFiを揺るがす

Unstable Protocol은 250만 달러의 시드 자금 조달 성공으로 DeFi를 뒤흔들었습니다.

Protocolo instável sacode DeFi com triunfo de financiamento inicial de US$ 2,5 milhões

Нестабильный протокол потряс DeFi триумфом начального финансирования в размере 2,5 миллиона долларов

Kararsız Protokol, 2,5 Milyon Dolarlık Başlangıç Finansmanı Zaferiyle DeFi'yi Sarstı

Giao thức không ổn định làm rung chuyển DeFi với chiến thắng tài trợ hạt giống 2,5 triệu đô la

不稳定协议以 250 万美元种子资金的胜利震撼了 DeFi

Nigeria! Giant of Africa, as she is fondly called. It is the most populous black country in the world, with over 200 million people, a teeming youth population, and . That's about 100 million, mostly tech-savvy young people all over the internet struggling to wrest some money from the famed riches of cyberspace. It's no wonder the country is well known for internet fraud, with a world-famous fraudster from Nigeria named Hushpuppi recently jailed by the US government for swindling numerous Americans off millions of hard-earned dollars. While internet fraud has cast a bad light on Nigerians online, this single story must not be allowed to take root, however, because Nigerians have also found ingenious ways to use the internet constructively with world-reaching effects. over 50% aged from 15 to 60 years For example, are well recognized in the content creation industry with many well-know ones like Mark Angel, Emmanuela, Sabinus etc. having millions of followers from around the world whom they routinely entertain. Nigerian music has also dominated the global space in recent years, with the internet playing a critical role in this rise. Nigerian music has dominated Africa since the 2010s, but recently, Nigerian artists like Burna Boy, Rhema, and Ckay have released colossal global hit songs like Last Last, Calm down, and Love Nwantiti, respectively, reaching hundreds of millions and even billions of streams. This was only made possible through online streaming and video platforms like Spotify, YouTube, and TikTok. Nigerian comedians A relatively recent technology known as cryptocurrency has hit the internet, and Nigerians have not been left behind. The country was in crypto adoption around the world. This, of course, can be traced back to the country's relatively backward financial system, with Nigeria recording numerous economic crises over the years. happened just before the 2023 elections in the country, where the Nigerian Naira was not even available for people to withdraw. Basically, there was little cash in circulation, and protests erupted in Banks, with people demanding to withdraw the money they had deposited so they could handle day-to-day expenses. This cash shortage lasted for several weeks, and millions of Nigerians began adopting alternative financial systems for Nigerian banks. Through this crisis, a little-known Crypto trader in the country known as would rise to fame and fortune by introducing an app for financial transactions that completely circumvented the Nigerian banking system. Blord would also go on to introduce a crypto exchange company called Blord Group in the country to convert cryptocurrency to Naira. Many Nigerians adopted Cryptocurrency during this financial crisis. recently ranked second A particularly crazy financial crisis Blord What you should know about Nigeria is that even though it is a very gifted country with lots of natural and human resources, it is run by a very corrupt government with notable ethnic biases. This has created widespread poverty in the country, with most of the gigantic 200 million people in the country left to fend for themselves anyhow they can. But the youths have taken up Agency as autonomous individuals battling against classist and ethnic divides, plus a corrupt, powerful government with dictatorial tendencies to create comfortable lives for themselves as sovereign entities who would not meekly surrender to a British-imposed country that seems determined to keep them down. This Nigerian dream has united beautifully with the vision of cryptocurrency, which basically serves as a democratized financial system that will create a level playing field for anyone around the world to make money. This article dives deeper into the possible role of autonomy, Crypto, and DAOs in getting Nigerians out of poverty. Tribalism and Classism in the Nigerian Government Nigeria is a multi-ethnic country with about 250 different ethnic groups. However, there are three main ethnic groups by population: the Hausa-Fulani in the Northwest, the Yoruba in the South West, and the Igbo in the South East. These three ethnic groups have dominated the government of the country since it gained independence from the British in 1960. However, was fought in 1967, with the Igbo of the Eastern region trying to break away from the country due to an ethnic crisis. The Igbo lost the war and have never produced a president to date, with the Mostly Muslim Hausa Fulani dominating the government at that time. Hence, there's a lot of ethnic discrimination in Nigerian politics with the Igbo, who number up to 40 million, and other Christian groups, with tens of millions of people mostly kept away from the presidency of what is supposed to be a democratic country. This discrimination in government has far-reaching economic impacts as the government of the day often favors their region in resource distribution. So, Nigerian Christians are often at a political disadvantage. a bloody civil war Classism is another major factor in Nigerian politics, with the mega-rich corrupting the voting system with their money and routinely rigging elections to maintain their hold on power and maltreat the poor (who are the majority) however they see fit. Hence, poor people in Nigeria who bear the brunt of the suffering hardly have a way to fix the country since their votes may not even count. This has led to a lot of crime around the country, with fraudsters, kidnappers, cultists, and sex workers being rampant. Nigerian Government Versus Autonomy The , through a federal system like the American government with executive, legislative, and Judiciary, does not practice true federalism. Simply put, the executive, who is led by the president, is too powerful, and through widespread corruption, they can control the lawmakers and judiciary, who are supposed to checkmate their excesses. This is also true for the state and local governments, who are often arm-twisted into doing the will of the federal government because the federal government has overall control of resources in the country. Hence, the Nigerian government is often anti-autonomy! Nigerian government Many groups have risen in the country to demand more autonomy and resource control at the regional level, but the federal government usually puts them down by force. This is mostly against the will of the people who always find ways to fight against the tyrannical control of the federal government. Basically, Nigerians want more autonomy to utilize their resources for a better life, as the federal government doesn't seem capable of delivering basic amenities like good roads, running water, and electricity. This has remained a constant cause of conflict in the country, with many lives lost. Nigerian Government Versus Wealthy Citizens As with any tyrannical system, the government in Nigeria seems determined to keep the people poor; hence, they are unable to fight for their rights. This is more rampant in the North, where despite hundreds of millions of Naira being allocated to education yearly. [Nigerian minimum wage](https://nigerian minimum wage), as at the time of this writing, is a meager 30,000 Naira (about $22) for a full month. That's way below the minimum wage in most countries and has made Nigeria a poor country for about a hundred years of its existence now. This is, of course, a deliberate act of corrupt politicians who prefer to cart away huge sums of money from budget allocations while leaving the people to fight for scraps. Hence, the people are kept poor and uneducated, so they can't really do much against these wealthy leaders who keep impoverishing them. A wealthy, educated population will, of course, be quite difficult to swindle as you please. millions of children are out of school Nigerian Government Versus the Internet During the Coronavirus crisis, Nigerians were locked up at home like others around the world, and palliatives released by international groups to ease the suffering of Nigerians were hoarded in several warehouses instead of being distributed to the people. Also, police personnel in the SARS unit went on a rampage, harassing tech-savvy Nigerian youths who were making money from the internet as fraudsters without much investigation. Nigerian youths responded by protesting on Twitter using hashtags and proceeded to coordinate themselves and break the curfew into a real Nationwide Street protest that came to be known as the #endsars protest. Millions of Nigerian youths took to the streets around the country and gained global coverage. Also, secessionist groups like , who were clamoring to break away from Nigeria, used online platforms like Facebook and Twitter to gather and communicate with millions of followers. The Nigerian government then effectively responded by banning Twitter in the country but soon canceled the ban after it failed, as citizens were using VPN apps to circumvent the ban. Hence, the Nigerian government has tyrannically tried to suppress the internet in Nigeria without regard for the millions of people who have found employment online. IPOB Nigerian Government Versus Crypto Expectedly, the Nigerian government has not reacted very well to Cryptocurrency technology in the country, though the people have welcomed the decentralized finance system with open arms. in the country as the government tries very hard to clamp down on global crypto agencies like Binance. Even the earlier mentioned millionaire crypto trader in the country (Blord) was arrested and charged with internet fraud even though he was able to come out victorious. The government predictably hates Crypto as they can't really control it. They complain that terrorists and fraudsters use Crypto for financial transactions though they've not really done much about the corrupt politicians who use the actual banking system in the country to loot Country funds. Crypto has created jobs for many Nigerian youths who work online as crypto traders, forex traders, software developers, writers, content creators, etc., and earn decent wages from foreign customers. Crypto has been banned, unbanned, and banned again The Role of Autonomy, Cryptocurrency, and Daos in Potentially Lifting Nigerians From Poverty With the country divided between several tribes and two major religions (Christianity and Islam), tribal and religious sentiments have often been used by malicious politicians to keep Nigerians fighting against each other and refuse to unite in fighting against the corrupt leaders who are the real problem. Tribal and religious crises often mar Nigerian elections to the benefit of politicians who capitalize on such crises to rig elections and discriminate in government. Also, leaders who steal often defend their tribesmen from anybody who may try to prosecute them. This is a huge problem in the country, with many jobs and industries often being based on tribe instead of qualification. Autonomy: To solve this fundamental problem, Nigerians must start thinking of themselves first as individuals instead of as members of a tribe or religion. They must prioritize their welfare as citizens in voting and making other electoral and job related decisions in order to get competent leaders and office holders who will transform the country. Regional autonomy must be prioritized over the current seemingly unworkable "federal system" which has only created much infighting. Autonomy is critical to the development of Nigeria! When Satoshi Nakamoto released Bitcoin, he was trying to create a decentralized financial system that would make financial opportunities fairly available to everyone around the world instead of to just a few members of the elite class who capitalized on the unfair legacy centralized system to get ahead of the rest of the population. Such a system is sorely needed in Nigeria, where inequality is even worse from widespread poverty and illiteracy. Many Nigerians use mobile phones, and with a little knowledge of Cryptocurrency, they can invest and get out of poverty without having to depend on a government that doesn't really seem to care about them. Cryptocurrency: Cryptocurrency could be the best opportunity for Nigerians to benefit from the financial system. Many Nigerians have never really experienced a free and fair election in their lifetime. This is due to widespread electoral malpractice that seems to have become the norm. Just like Twitter, which provides a global voice for the Nigerian people, which the government cannot forcefully shut down, DAOs will provide an even more decentralized platform for Nigerians to unite, organize, plan, and execute digital infrastructure for the good of the country. DAOs will allow Nigerians to practice democracy and governance in a free and safe virtual environment for education and networking purposes. Also, DAOs will allow Nigerians to influence the development of Web 3 to enable the developers to come up with software that is better suited to the Nigerian environment. DAOs: DAOs will provide a more sophisticated, unstoppable cyber voice for Nigerians around the world. Conclusion Nigerians have been held down by a corrupt, tyrannical government that seemingly would prefer to keep the people divided, poor, and uneducated. However, the Web 3 vision of democratizing the Internet and financial system is in complete opposition to such a system. With crypto concepts like autonomy, individualism, and sovereignty encapsulated in DAOs, Nigerians have a global technological movement they can leverage to come out of the country's economic crisis. is a groundbreaking DAO technology that Nigerians (and anyone around the world) can use to opt out of a corrupt leadership system that doesn't really represent them. Auth Labs

Empowering Nigeria With Web3: Exploring Autonomy, Cryptocurrency, and DAOs as Pathways to Prosperity

This piece is written from the perspective of DAO Owl. Owl is known to have a perspective on humans that may not be popular with humans. #optout #autonomy #selfsovereignty You are deluded if you want #autonomy Humans are the only creatures who believe in autonomy, and oddly, they are the creatures who are the least equipped to be autonomous. They burned down my forest to build a mall, and I just flew somewhere else. I can hunt my own mice, thank you very much. I can be autonomous because I am an owl. What are you going to do? You think money makes you autonomous? What about the person who has to accept that money? Do they even accept Bitcoin or Ethereum at your local grocers or gun dealers (in case you decide to be like me and hunt your own rabbits)? But let’s just assume the dollar goes to hell. Do you think Bitcoin makes you autonomous? Even if you didn’t need the miners, who is producing the electricity? How are you connecting to the Internet? Where did that mobile device come from? Even for me, an owl, I am not autonomous. I need those mice to keep being born. I need some trees around. I need a partner Owl to make more owls. Seriously, only humans are stupid enough to think they are autonomous beings, as if they aren’t just fractional pieces of the universe like all of the rest of us. It’s absurd. I won’t bother go on about this ridiculous concept. Is it true that people can make individual decisions? Yes, but only inside a very specific framework. I could decide to eat potatoes instead of mice but my body couldn’t convert them to calories, so it would go poorly. I’m not being frivolous. You think these crypto-economic systems are making you autonomous, but you host them on AWS and Infura and Alchemy (all in the US). You talk about DePin but honestly how much are your systems autonomous? Maybe you use an alternative search engine to Google--when you’re on your laptop, of course, not on the phone. You use Android or iOS don’t you? You download all your crypt wallets from those app stores. Are you really ready to pay the price of #autonomy? I don’t think so. You’re just hoping someone will make autonomy easy enough so that you don’t have to sacrifice anything to get it. Humans are so addicted to convenience. Probably fewer than 3% of the people in Web3 community are nominally autonomous. If you really want autonomy, you can’t have it alone. You can only have it in a group, because you are clawless, wingless, featherless human beings and you are completely interdependent. For those who want to get a reality check on how dependent and not-autonomous you creatures actually are, read . One Second After Oh, and don’t preach to me about that ridiculousness. Have you seen that crowd? <90% male. Every female looking at that group starts having nightmares of . It’s frightening how quickly good intentions by rich people turn dystopian. Network State The Handmaid’s Tale BTW, I’m not avoiding the question of the use of or Web3. Au contraire. What I’m saying is that autonomy is delusional, and Āut knows it. Humans can’t opt out of something without opting into something else, because humans are not autonomous creatures. Maybe in my next blog I’ll talk more about some of the products, but for now I’m not going to shill, just try to knock a few humans out of their delusional thinking. ĀutID You are deluded if you think you can #optout Many humans are horrified by the way their governments are treating them. Whether it’s , , , or , it seems that the global leadership is intentionally trying to kill people. This may come as a surprise to people, but it does not come as a surprise to owls. If you don’t know what I mean by that, just watch a few minutes of footage of the destruction of animal habitats or anything about industrial animal farming. I don’t know why people are so surprised that their governments are trying to kill them. They’ve been on wild killing sprees for as long as they’ve figured out how to burn stuff. arresting climate activists persecuting Bishops for tweeting bible quotes closing bank accounts of peaceful protesters mandating how farmers do their jobs Anyway, I get it. You want to #optout. But what are you going to opt into? The first thing you shouldn’t opt into is an ideology. Maximalism, anarchism, libertarianism, communism, capitalism… none of that holds water. The reality of Web3 and e/acc is that it denies the reality of having a body. You’ve got one, presumably. The crypto utopians are in sweet denial of the fact that they are using the evil empire’s electric grid, DNS, hardware servers, chipsets, waste treatment centers, restaurants, hotels, and airports. If the pandemic didn’t prove to you that all of that can be taken away from you if you don’t submit your body to whatever procedure they mandate, nothing will. So if you are opting out, here’s what you need to opt into: Physical and network layer (OSI layers 1-2) hardware and services End-user hardware Electricity generation and delivery Homes to lodge your body Food production Water Waste removal or circular management Community in the real sense of the word: people who share real-world stuff with each other. That’s a lot of stuff that Web3 doesn’t have. The DePIN movement is starting to get to grips with that reality, and you have a few OGs like and who have always known that you are useless without the hardware. New players like and give us some hope (though it’s far from clear that Helium isn’t a scam). I know I said above that the Network State people are full of it, but Cabin actually looks like a community driven effort rather than a real estate scheme. You also have the ReFi folks, almost all of which is a scam, but despite itself is managing to preserve a tiny bit of the ecology and spawn a few experimental regenerative agricultural projects. Kong Holo CabinDAO Helium Am I telling you it’s a good idea to drive all your into regenerative farming and go off-grid? Yeah, that’s what I’m telling you. But that’s my opinion. I’m an owl. The more people who are off-grid, the more places I can hunt mice. And by the way, land is going fast. Foreign concerns have bought up almost a while . (But don’t worry about China, .) So don’t let them distract you with memecoins and trans rights… all of those news stories are designed to get you to take your eye off the ball. Airdrop Farming third of the farmland in the Ukraine Bill Gates and China are snapping up farmland in the US they aren’t buying it to grow food #autonomy only happens if you have confidence that you can feed yourself and your family. The second that you are afraid for your food or water supply, you are owned by those who control them, Bitcoin or no Bitcoin. Non-delusional #selfsovereignty Digital systems that allow you to have self-sovereignty are all the rage this year. Some are better than others, and the idea of a digital backpack is my favorite. But again, it’s a bit delusional. Someone is issuing you these credentials. As we all know, a Harvard education today isn’t what it used to be. So you are always interwoven with other people in one way or another. All of this means that when humans talk about self-sovereignty, they need to think of “self” as more than one person. Self-sovereignty of a network is probably a better framework than the self-sovereignty of the individual. That’s not to say you don’t have the right to #privacy and control over your data and your digital identity. It’s a layered approach. The network itself should be able to self-govern and determine the levels of autonomy that are granted to individuals and groups within the network. Individuals and groups may belong to multiple networks. (In fact, all of us do.) Yet, when it comes to discussions of sovereign or autonomous financial systems, you Web3 people are not even close. Y’all got so lost talking about L1s and L2s that y’all forgot about the original (making it extra hard for many opensource OGs to figure out what you are talking about) OSI Layers It’s later than you think So let’s see… where do you want to start and how long do you have? This competition is extremely timely. The world is on fire, and if you are a crypto libertarian, you probably have a tad more time than the rest of the world to get your ducks in a row. And you already have quite a few more ducks than the rest of the world. And, as long as we are on animals, the bull is among us again. Now is the time to use that bull to buy some more ducks so you can truly #optout. The problem is you get distracted and excited by your bulls. The best thing is to have a plan. Ask yourself honestly: How much do you need to really be autonomous? What are the ways in which you are completely addicted and dependent on the default systems? If you want to opt out, what are the parts you absolutely must opt out of and why? M What price are you willing to pay for that #optout? Who are the people you want opting into a new system with you? Where can you provide the highest contribution to the communities you care about so they can become autonomous together? What is the full picture? What other pieces of economic activity do you need to include inyour  Web3 cadre in order to have a functioning alternative to the default system? Finally, it’s important to note that opting out is not your only option. You can opt in and obey until it all blows over. You can opt in and just have some slippery crypto under the radar. You can try to change from within the current system. After all, you are human. Owl out.

Delusional Opt Out: What are you opting into?

বিভ্রান্তিকর অপ্ট আউট: আপনি কি নির্বাচন করছেন?

Wahnhaftes Opt-Out: Wofür entscheiden Sie sich?

Opción de exclusión delirante: ¿En qué estás optando?

Désinscription délirante : à quoi optez-vous ?

भ्रमपूर्ण ऑप्ट आउट: आप क्या चुन रहे हैं?

妄想オプトアウト: 何をオプトインしますか?

망상 선택 해제: 무엇을 선택하시겠습니까?

Opção de exclusão delirante: o que você está optando?

Бредовый отказ: на что вы соглашаетесь?

Sanrısal Opt Out: Neyi seçiyorsunuz?

Từ chối ảo tưởng: Bạn đang chọn tham gia điều gì?

妄想选择退出：您选择加入什么？

The NFT world has made millions for lots of investors, while at the same time, it has bankrupted just as many people. There are rumors that NFTs will make a big comeback in 2024 and grab the headlines again. But is that really true? Can we trust these rumors? To find out, we will return to the very beginning - to the peak of NFTs in 2021, we will try to understand the reasons for the collapse of the market in 2022, its gradual recovery in 2023, and give a forecast for the current year. Main Takes: : NFTs experienced a significant surge in 2021, with trading volumes reaching $17.6 billion, driven by unique blockchain technology, the crypto bull run, the COVID-19 pandemic, the decline in ICOs, network effects, and FOMO. 2021 Historical Context : A dramatic correction occurred in 2022, with trading volumes and NFT prices plummeting due to a broader crypto market downturn, highlighted by events such as the collapse of TerraUSD and the bankruptcy of major crypto players. 2022 Market Correction : Despite a sluggish start, the NFT market showed signs of revival in the last quarter of 2023, buoyed by a bullish crypto market and the SEC's approval of Bitcoin ETFs, with weekly trading volumes surpassing $500 million in December. 2023 Revival Signs : The introduction of Bitcoin Ordinals and the growth of Solana contributed to the renewed interest in NFTs, offering unique features and security advantages. Bitcoin Ordinals and Solana's Influence : Positive expectations for the NFT market are supported by a more mature and diverse sector, the broader crypto market's performance, utility in various niches, and mainstream adoption by traditional brands. However, challenges such as wash trading, scams, and regulatory fragmentation remain. 2024 Outlook Why there was an NFT boom in 2021? In 2021, the NFT market experienced an unprecedented surge. At that time, many thought that the interest in non-fungible tokens was confined to a relatively closed group of traders who had little connection to the art world. Soon, auction houses began to offer more NFT sales and create infrastructure and consistent offerings of this kind. Research shows an explosion of interest in NFTs as a new asset class, with sales reaching in 2021. Famous NFTs, like the ones from Beeple, Bored Ape Yacht Club, and CryptoPunks, became iconic. Even big brands like Gucci and D&G joined in, making their own collectibles. $17.6 billion In 2022, the NFT market faced a serious disruption, leaving everyone reeling. The once bustling market took a nosedive in prices, sparking widespread concerns and discussions about its future. NFT crash in 2022 In June 2022, we witnessed a 12-month low. Sales fell to 1 billion dollars, the worst market performance since June 2021 (when sales were a modest 648 million dollars). According to , while the market was worth 3 trillion dollars in November 2021, it's now sporting less than 1 trillion dollars. Chainanalisys In the second quarter of 2022, things took a turn for the worse. The , laid out by the Non-Fungible, reveals that sales volume has decreased by 20.05% from the first quarter of 2022, from 12,639,781 to 10,105,967. The number of sellers has decreased by 35.88% and the number of buyers has decreased by 25.41%. market report for Q2 This data suggested that collectors weren't exactly interested in taking big risks when it came to investing in new and upcoming projects appearing on NFT platforms. They've decided to trade on the secondary market, where prices remained higher. NFTs at one time depreciated by millions of percent, almost to several hundred, having been purchased for hundreds of thousands of dollars. Take Logan Paul, for example. His Azuki NFT, once purchased for a whopping $623,000, is now worth $10. Likewise, Steve Aoki's Doodles NFT has seen its value drop to less than $42,000. Even the stars aren't immune to the NFT tragedy. Snoop Dogg also lost more than $300,000 on CryptoPunk, bought for $1.1 million, which is now worth about $688,000. However, the most popular loss is Justin Bieber's journey with the Bored Ape Yacht Club NFT project. What started as a $1.31 million investment turned into a shocking $59,090. The NFT market has plummeted in 2022, thanks to several factors including market oversaturation, scams, and the collapse of big systems. With a flood of NFT projects and the art of deception on the rise, investor hesitation contributed to the market downturn. First factor. Market oversaturation Before the NFT boom of 2021, the market was relatively niche, with just a handful of NFT projects grabbing attention. But when the hype hit its peak, it felt like everyone wanted a piece of the action. The result? An overwhelming deluge of NFT projects flooding the market.** Second factor. Deception and scams Where large sums of money start circulating, fraudsers immediately appear, eager to profit from it. The NFT market hasn`t been an exception. As interest in NFTs has grown, so had the number of fraudulent activities and scams targeting unsuspecting investors. Hackers and scammers have seized upon the NFT boom, deceiving people and causing them to part with their assets. Discord breaches, malicious links, and the whole range of free NFT coin scams left many people with heavy losses and undermined confidence in the market. Third factor. The collapse of big systems When FTX, one of the largest crypto exchanges, filed for bankruptcy, allegedly due to a liquidity shortage and a disappearing act with the funds. Additionally, the Terra blockchain cryptocurrencies, TerraUSD and LUNA, have seen catastrophic drops in value, leaving investors reeling from significant losses. In any ecosystem, when a big player fails, it can send shakes through the whole system. In the case of the NFT market crash, the collapse of important systems associated with Web3 contributed to the downturn. What happened with the NFT market in 2023? Despite the NFT market crashing in 2022, experts and enthusiasts are pretty sure that NFTs will bounce back to their best state. Even though there was a big drop in trading in June, the NFT market overall stayed strong in the first half of the year. The beginning of 2023 looked good for NFTs, with a sudden increase in trading activity. The launch of trading platforms like LooksRare and X2Y2 played a big part, along with the rewards they offered for trading. NFT sales in 2023 reached around $17.7 billion, similar to the sales recorded in 2021. This is also almost a 10-fold increase compared to the same period last year. Taking a closer look at the main factors, a pretty stable first half of the year was helped by a healthy growth in the number of unique buyers and transactions. But this was balanced out by a drop in the average sale price. Even if we ignore the less valuable and less important projects, most collections nowadays aren't really worth much. Out of the 8,850 collections leading in market value, 18% are not worth anything, and 41% are being sold for prices between $5 and $100. Less than 1% have a price higher than $6,000 – a far cry from the usual million-dollar deals made two years ago. Despite this, the NFT community's stability, combined with ongoing innovations in this area, is paving the way for a potential comeback. Thanks to forward-thinking NFT creators and big brands using this technology, the next bullish rise of NFTs looks promising. Yuga Labs' Role in the NFT Comeback Yuga Labs' groundbreaking games, like Dookey Dash, brought in new collectors and created a fresh wave of excitement in the NFT space. Thanks to these innovative Yuga Labs projects, they became the driving force behind the NFT comeback. Their contribution to a whopping 30% of all Ethereum NFT trades in just one month made them a beacon of hope for the NFT market. As we move forward, their impact will inevitably determine the course of NFTs for many years to come. NFT brands are selling stuff in big regular and online stores. We are seeing the launch of major blockchain-based games. And more big companies are joining the NFT world. As a result, NFT-based brand building could be a significant factor beyond just the recovery but also surpass previous heights in 2024. Will NFTs be reborn in 2024? The NFT market is expected to change a lot in 2024. Despite the prolonged decline and negative background, it's predicted that the NFT market will make around in revenue in 2024. $2,378.0 million In 2024, the NFT market is expected to go through big changes with lots of new trends. Here are some of the important trends. Metaverses The global Metaverse market size is steadily at the expected rate, recording a CAGR of 47.2% from 2023 to 2027. The cost of the metaverse industry will increase from $61.8 billion in 2022 to approximately $426.9 billion by the end of 2027. expected to grow The Metaverse NFT market is huge and includes a variety of digital assets such, as virtual houses, avatars, art, and even virtual fashion. Many things are making this market grow, like more people using blockchain, games, and virtual worlds becoming popular, and the growing demand for unique and scarce digital assets. Additionally, the Metaverse NFT market gives creators, artists, and gamers new chances to make money from their digital creations, and investors can diversify their portfolios by investing in these unique assets. NFT Aggregators In 2022-2023, saw the rise of NFT aggregators. These platforms let traders buy and sell NFTs from different marketplaces, all in one place. Top aggregators Gem and Genie showed impressive growth: this year, the trading volume went over 511,000 ETH. That's about 21 times more than in 2021. NFT aggregators also have extra benefits. They let traders complete whole collections by buying lots of NFTs at the lowest prices, without needing to go to each market separately. The market share of NFT aggregators from just over 1% at the end of 2021 to about 5% today. Even though the market share of NFT aggregators is still not very big, recent purchases of and Genie by Uniswap show strong interest from existing players in NFT aggregators. It confirms that NFT aggregators seem ready to play a big role in shaping the NFT trading scene for the long term. has also grown Gem by OpenSea Entering the era of Web3, the NFT world holds promises of growth, creativity, and financial opportunities. Will NFTs make a big comeback in 2024? It seems like Metaverse and NFT aggregators are ready to contribute significantly to the upcoming success.

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