Upswing

upswing

Bitcoin has always had a rather peculiar relationship with the European Union. Their love-hate relationship has been going on for quite a while now, and we all root for a happy ending. Let’s see how Bitcoin is doing. What would the relationship look like in the future? What will actually happen with this cryptocurrency? Will Europe accept Bitcoin as a completely legitimate currency which will go hand in hand with Euro, or will they reject it as something that cannot be incorporated into the European system? BTC/EUR Current EU regulations Bitcoin is still unregulated. Depending on which school of thought you belong to, this could be either a very positive or pretty negative thing. The point is — regulators from all over the globe are doing their best to provide regulations for all cryptocurrencies. This could open the door to some really significant changes — or it could be Bitcoin’s doomsday. So what is the European Union doing in this regard? Bitcoin has been here since 2008, but the EU waited until 2012 when their . The reason why it took so long is their uncertainty about the importance of Bitcoin (and all the other cryptos that popped up in a short period). first regulations were published The first document that was officially published by the Union was the report about the cryptocurrency proliferation. The document itself may not be an important regulator, but it was vital because it acknowledged the existence of cryptocurrencies and that they were an entirely legitimate currency. In 2012, the EU published something called Virtual Currency Scheme. This was the first time they outlined official regulations for cryptos, and the only difference was that they called them Virtual Currencies. After a couple of ups and downs regarding the EUR and BTC relationship, driven by fear of another Great Depression, things got a bit stable — all until the . Once the EU officials saw that cryptocurrencies could be stolen and hacked, they needed to revise their manifesto and issued a new version of Virtual Currency Scheme, which provided a new perspective on things and imposed stricter regulations. notorious Mt Gox theft We have reached the most important part of this article — how the EU views crypto? The VCS doesn’t consider it a currency at all, yet the governments are able to tax some of the transactions done using cryptocurrency, which puts us in a kind of a paradox position due to the fact that we may have to pay taxes for something that the EU sees as not equal to fiat currencies. That is one pressing problem that continues to be a pain in the neck for many crypto investors, and the other one is the battle for privacy. Cryptos were initially made to be anonymous and private, which made the officials think twice about their nature. At the moment, there is an ongoing debate whether the EU should have an insight into all transactions in order to stop terrorist activities and illegal transactions from happening (such as buying weapons, drugs, and more). Future EU regulations The EU has a team of experts that call themselves the FinTech Task Force and they are doing their best to introduce cryptocurrencies to the system and make all parties content, but it has proven to be tilting at windmills so far. Instead, most of the job is done by individual members of the EU, and some has made significant progress in that matter. Future crypto regulations in the EU are also dependent on GDPR. Remember May 2018? It was a turbulent time when basically all websites with which you had been registered sent you a privacy policy update. That was all due to the sudden to data protection, and as such, this regulation couldn’t but impact cryptocurrencies either. However, the way GDPR and cryptos would cooperate (or not cooperate) is still relatively unknown, and there is a lot that has to be done before everything is put in motion. changes that GDPR had brought What is the overall sentiment towards Bitcoin? On the other hand, Bitcoin has not been doing that great lately. The average price for a single unit of the most popular cryptocurrency is barely €3,400, which is a bit better in comparison to last month but a massive downfall in contrast to this period last year. What can we expect from Bitcoin in the future? Unfortunately, people are losing faith in Bitcoin overall. If you listen to one group of investors, they will tell you that it is the perfect time to act and buy this cryptocurrency as the upward swing is definitely going to happen in the future just like it happened . Others claim that Bitcoin is rolling into the abyss from which there is no return. The truth is — we cannot really determine with certainty what to do, but Bitcoin is here to stay regardless of its price. It has been incorporated into society, and there is no need to worry about that. The right question is — how much will it cost? in December 2017 Conclusion But what about BTC’s relationship with EUR? Well, it has been similar to other fiat currencies. Whenever a change is made, all other fiats follow. So far, nobody can predict what is going to happen. In other words, the future is always uncertain, especially with cryptocurrencies. But let us give you a piece of advice — research! The Internet is filled with bits and pieces that are extremely important for people who follow Bitcoin and other cryptocurrencies. Furthermore, you now have a crucial insight into the regulations that EU imposed on Bitcoin and other cryptos. That could be your way to dig deeper into the study and see where it can all potentially go from here. Make your investment decisions that are based on thousands of opinions rather than one or two blog posts.

BTC to EUR Forecast — Time for Another Upswing?

Welcome to the great crypto bull market of 2024–2025. The “banana zone,” as some call it. You’re here to make a TON of money. There are two ways to do this with crypto: trading and investing. Make sure you know the difference, or it might cost you! Mark, aren’t they the same? Nope. I consulted the dictionary. Trading: buying, selling, or exchanging stocks, bonds, or currency.
Investing: putting assets to use, by purchase or expenditure, in something offering potential profitable returns, such as interest, income, or appreciation in value. Trader’s mindset: cash now, not later Do you have your eye on that amazing memecoin everybody’s talking about? Is your mind racing with possibilities and the potential for huge returns? Are you expecting to cash out in November 2025 and buy some Lambos? If so, you need to trade the market. When you trade, you’re trying to make money from changes in the prices of cryptos. You don’t want crypto. You want to sell it for more of your government’s money. Buying is simply the cost of doing business. This means you will identify entries, exits, stop-losses, and take-profit targets. You may follow the news, read roadmaps and whitepapers, or research key events that make for good buying or selling opportunities. You keep as little money in the market as necessary and wait for momentum to shift. Then, after the market has gone up a little bit, you buy. After the market has gone down a little bit, you sell. While an investor will aim to get ahead of the market, you will wait for the market to act and then ride the momentum whichever way it goes. Investopedia has a nice article about trading. https://www.investopedia.com/articles/trading/02/100102.asp?source=post_page-----90fb48ed9223--------------------------------&embedable=true Investor’s mindset: win no matter what happens Do you want generational wealth you can bank on for years to come? Durable financial assets that throw off income and generate capital gains? Chances are, you're an investor. You don't worry as much about what happens today or how much cash you can get out of the market. You want to make sure that you are in a position to take care of yourself for as long as you need to. When you invest, you find projects that will likely grow and succeed, then buy their tokens, stake those tokens for passive income, delegate them for rewards, or deposit them into liquidity pools for a portion of fees and perhaps incentives from using them. When you do this, it’s like earning dividends or interest and recycling the profits back into the market to compound month after month, like a snowball. You can also leverage your tokens in other ways, for example, to buy land or items in a metaverse, participate in play-to-earn games, mint NFTs, become a validator, run a node, and participate in the communities that grow around the tokens. Both make money in different ways You can do well with either approach, but you need to pick one. What drives success in one approach will drive failure in the other. For example, as an investor, you will lock up your tokens for weeks or months for passive rewards and income. Free crypto! That’s terrible if you’re a trader. It defeats the whole point! You don’t want to keep the tokens. You want to sell them as soon as possible! On the other hand, when you lock up your tokens, you have to accept all the volatility that comes your way. You have to sit through big upswings and downswings. Some altcoins will go up or down 50% in a week, sometimes in a day. When you need to sell, it may not be on your terms. As a trader, you will buy after prices go up and sell after prices drop. That may fly in the face of the adage, “buy low, sell high,” but that is not a trading strategy. When you trade, you may buy high to sell higher or sell low and then short the market. As one trader put it, you play for the middle of the field, not the red zone. This makes no sense for an investor. The whole point is to build a position before the market turns so that you can capture limitless upside. Traders can't expose their capital like that. They need to wait until there's less upside because they need clarity about the market's direction. In other words, you can't trade and invest with the same money. Pick one. Options abound Some people split their portfolios into a separate trading account and investment account. Others take an investor’s approach but try to time their entries and exits. You can do well with either approach or another path of your choosing. Whether you’re here to trade or invest, remember: the key to success is knowing your strategy and sticking to it. If it helps, subscribe to my newsletter, Crypto is Easy. I sometimes share trading setups, analysis, and commentary to help you with either approach. We look at trading charts, on-chain data, and various metrics and strategies to navigate the ups and downs so you can make the most of this market and the opportunities it brings. Mark Helfman publishes the Crypto is Easy newsletter. He is also the author of three books and a top Bitcoin writer on Medium and Hacker Noon. Learn more about him in his bio and connect with him on Tealfeed. Welcome to the great crypto bull market of 2024–2025. The “banana zone,” as some call it. You’re here to make a TON of money. There are two ways to do this with crypto: trading and investing. Make sure you know the difference, or it might cost you! Mark, aren’t they the same? Mark, aren’t they the same? Mark, aren’t they the same? Nope. I consulted the dictionary. Trading: buying, selling, or exchanging stocks, bonds, or currency. Investing: putting assets to use, by purchase or expenditure, in something offering potential profitable returns, such as interest, income, or appreciation in value. Trading: buying, selling, or exchanging stocks, bonds, or currency. Investing: putting assets to use, by purchase or expenditure, in something offering potential profitable returns, such as interest, income, or appreciation in value. Trader’s mindset: cash now, not later Do you have your eye on that amazing memecoin everybody’s talking about? Is your mind racing with possibilities and the potential for huge returns? Are you expecting to cash out in November 2025 and buy some Lambos? If so, you need to trade the market. When you trade, you’re trying to make money from changes in the prices of cryptos. You don’t want crypto. You want to sell it for more of your government’s money. Buying is simply the cost of doing business. This means you will identify entries, exits, stop-losses, and take-profit targets. You may follow the news, read roadmaps and whitepapers, or research key events that make for good buying or selling opportunities. You keep as little money in the market as necessary and wait for momentum to shift. Then, after the market has gone up a little bit, you buy. After the market has gone down a little bit, you sell. While an investor will aim to get ahead of the market, you will wait for the market to act and then ride the momentum whichever way it goes. Investopedia has a nice article about trading. https://www.investopedia.com/articles/trading/02/100102.asp?source=post_page-----90fb48ed9223--------------------------------&embedable=true https://www.investopedia.com/articles/trading/02/100102.asp?source=post_page-----90fb48ed9223--------------------------------&embedable=true Investor’s mindset: win no matter what happens Do you want generational wealth you can bank on for years to come? Durable financial assets that throw off income and generate capital gains? Chances are, you're an investor. You don't worry as much about what happens today or how much cash you can get out of the market. You want to make sure that you are in a position to take care of yourself for as long as you need to. When you invest, you find projects that will likely grow and succeed, then buy their tokens, stake those tokens for passive income, delegate them for rewards, or deposit them into liquidity pools for a portion of fees and perhaps incentives from using them. When you do this, it’s like earning dividends or interest and recycling the profits back into the market to compound month after month, like a snowball. You can also leverage your tokens in other ways, for example, to buy land or items in a metaverse, participate in play-to-earn games, mint NFTs, become a validator, run a node, and participate in the communities that grow around the tokens. Both make money in different ways You can do well with either approach, but you need to pick one. What drives success in one approach will drive failure in the other. For example, as an investor, you will lock up your tokens for weeks or months for passive rewards and income. Free crypto! That’s terrible if you’re a trader. It defeats the whole point! You don’t want to keep the tokens. You want to sell them as soon as possible! terrible On the other hand, when you lock up your tokens, you have to accept all the volatility that comes your way. You have to sit through big upswings and downswings. Some altcoins will go up or down 50% in a week, sometimes in a day. When you need to sell, it may not be on your terms. As a trader, you will buy after prices go up and sell after prices drop. That may fly in the face of the adage, “buy low, sell high,” but that is not a trading strategy. When you trade, you may buy high to sell higher or sell low and then short the market. As one trader put it, you play for the middle of the field, not the red zone. This makes no sense for an investor. The whole point is to build a position before the market turns so that you can capture limitless upside. Traders can't expose their capital like that. They need to wait until there's less upside because they need clarity about the market's direction. In other words, you can't trade and invest with the same money. Pick one. Options abound Some people split their portfolios into a separate trading account and investment account. Others take an investor’s approach but try to time their entries and exits. You can do well with either approach or another path of your choosing. Whether you’re here to trade or invest, remember: the key to success is knowing your strategy and sticking to it. If it helps, subscribe to my newsletter, Crypto is Easy. I sometimes share trading setups, analysis, and commentary to help you with either approach. Crypto is Easy . Crypto is Easy Crypto is Easy We look at trading charts, on-chain data, and various metrics and strategies to navigate the ups and downs so you can make the most of this market and the opportunities it brings. Mark Helfman publishes the Crypto is Easy newsletter. He is also the author of three books and a top Bitcoin writer on Medium and Hacker Noon . Learn more about him in his bio and connect with him on Tealfeed . Crypto is Easy Crypto is Easy Crypto is Easy Medium Medium Medium Hacker Noon Hacker Noon Hacker Noon bio bio Tealfeed Tealfeed

The Difference Between Crypto Trading and Crypto Investing

Adding Crypto Assets To Treasury Management Can Spur Higher Profits

Earlier today, I was asked about my “best strategies for investing in crypto in 2024.” It’s the same strategy as any other year. Wait for prices to drop a lot, then buy. In 2024, you’re not getting amazing prices on Bitcoin or altcoins, but you should do okay if you stick it out. If you’re looking at a timeframe longer than 3–4 years, you’ll probably do better than stocks and bonds. (I wouldn’t be surprised if crypto beat them this year, too, but we can’t get too far ahead of ourselves after the huge upswing in the first half of the year.) Read on for four ideas I’ve found helpful. 1. Wait for Bitcoin’s price to drop For an upward-trending asset like Bitcoin, you need to make sure you can buy “dips.” In other words, keep fresh cash handy. The question is, what do you consider a dip? If you’re tuned into crypto media, a “dip” is as little as a 2-3% drop in a day. That’s silly. Such movements are normal volatility. If you prefer to be aggressive, wait for a drop of at least 15% from Bitcoin’s most recent highest price. Ideally, 25% or more. You may buy higher than necessary, but it’s better to get in and buy more later than hold out for lower prices that never come. If you prefer to be conservative, wait for a bear market or the “black zone” of the plan I share with subscribers of my newsletter, Crypto is Easy. Like this: You will get amazing value, but you may have to wait years and miss a lot of upside along the way. Either way, you will never get your timing right. The point is to squeeze a little more juice out of the market, sidestep the peaks, and avoid giving traders what they call “exit liquidity.” 2. Buy altcoins in fixed amounts with strict limits Many altcoins will never reach their previous all-time high. Most will die. With altcoins, you’re speculating on experimental financial technology, social movements, reward programs, and outright scams. Today, none are worth more than $0, but some will grow so much that you have to take a chance on buying them. Wait for big drops in the overall altcoin market, then buy a specific, fixed amount. The drops will give you good discounts. The investment limits will prevent you from losing too much on your losers without putting a cap on how much you gain from the winners. Those winners might deliver 2–10x by the end of the year and 10–100x or more over the coming years. Plus, you may get an altseason along the way — an opportunity to sell your losers, often for more than you paid for them. I prefer to wait for the lines in this chart to reach the respective shaded boxes (any of them will do): If it helps, read my Medium articles about altcoins. https://medium.com/@m.helfman/my-medium-articles-about-altcoins-0ef000ed0bf0?embedable=true 3. Sell only when necessary Selling crypto is incredibly risky. You’re giving up an asset with massive growth potential to avoid a temporary downturn. Even taking profits is a decision you want to weigh carefully. Check these boxes before you do. https://cryptoiseasy.beehiiv.com/p/taking-profits-crypto-check-four-boxes-first?embedable=true That said, sometimes the market forces you to do sell. In 2024, that was March and the beginning of April, when we saw signs that we only see before major reversals. Remember that “major reversals” range between 30% and 85% — but you don’t know which one you’ll get! A 30% drop sounds bad, but the market often rebounds within a few months, then goes higher than when you sold. On the flipside, even if you hit “the peak” exactly right, you might get screwed when you buy back your stake if Bitcoin’s price doesn’t fall far enough. With taxes, fees, and natural market volatility, you may get less crypto than you sold! I prefer to save cash so I don’t have to time the market, but I did tell my newsletter subscribers to sell some Bitcoin in March, when its price ranged from $62–74k, and sell some altcoins at the beginning of April, right before that big drop in the chart above. In hindsight, that looks like a good decision, but at the time, there was no reason we couldn’t have gotten one more leg up and an amazing altseason before that inevitable crash. 4. Buy more as the price goes lower You may hear people tell you to wait for the market to trend higher and then buy as it goes up. I’d rather wait until the market drops and buy more aggressively as the price goes lower. That way, every extra dollar brings back more value. As a bonus, once the market turns around, I have my allocation and don’t need to worry about anything. It’s pure growth from there on out. Once everybody agrees that prices should go up, you’ve likely missed the best chance to buy. This also gives you a good chance to beat the overall market. Quite often, the scariest times are the best times to buy. Use the Wall Street Cheat Sheet as your guide. For example, if you ask your average person which year was the best to buy Bitcoin, 2022 or 2023, they would tell you 2023. They’d say the smart investors held cash in 2022 and bought crypto in 2023. In 2022, LUNA collapsed, lending platforms crumbled, FTX imploded, and people lost billions. The US stock market tanked, the world economy deflated, many central banks raised rates, and China’s real estate market melted down. Since 2023, the market has gone up. “Only idiots bought in 2022 and held cash in 2023.” Yet, if you bought crypto on any random day in 2022 and put cash into a money market fund in 2023, you came out ahead of everybody who bought crypto on any random day in 2023 and put cash into a money market fund in 2022. In 2022, bitcoin’s average price was $28,100. In 2023, bitcoin’s average price was $28,800. You got a better deal in 2022.
In 2022, your cash got a 3% annualized return. In 2023, your cash got a 5% annualized return. Bottom line Don’t “buy low, sell high.” Buy low and grow. Wait for the market to drop, then buy. When you see extreme signs that the market’s too hot, you can think about selling. Always limit your exposure to any altcoin. These simple tips will give you an edge over the competition and boost your portfolio. Mark Helfman publishes the Crypto is Easy newsletter. He is also the author of three books and a top Bitcoin writer on Medium and Hacker Noon. Learn more about him in his bio and connect with him on Tealfeed. Earlier today, I was asked about my “best strategies for investing in crypto in 2024.” It’s the same strategy as any other year. Wait for prices to drop a lot, then buy. In 2024, you’re not getting amazing prices on Bitcoin or altcoins, but you should do okay if you stick it out. If you’re looking at a timeframe longer than 3–4 years, you’ll probably do better than stocks and bonds. (I wouldn’t be surprised if crypto beat them this year, too, but we can’t get too far ahead of ourselves after the huge upswing in the first half of the year.) Read on for four ideas I’ve found helpful. 1. Wait for Bitcoin’s price to drop 1. Wait for Bitcoin’s price to drop For an upward-trending asset like Bitcoin, you need to make sure you can buy “dips.” In other words, keep fresh cash handy. The question is, what do you consider a dip? If you’re tuned into crypto media, a “dip” is as little as a 2-3% drop in a day. That’s silly. Such movements are normal volatility. If you prefer to be aggressive, wait for a drop of at least 15% from Bitcoin’s most recent highest price. Ideally, 25% or more. You may buy higher than necessary, but it’s better to get in and buy more later than hold out for lower prices that never come. If you prefer to be aggressive, If you prefer to be conservative, wait for a bear market or the “black zone” of the plan I share with subscribers of my newsletter, Crypto is Easy. Like this: If you prefer to be conservative, Crypto is Easy . Crypto is Easy You will get amazing value, but you may have to wait years and miss a lot of upside along the way. Either way, you will never get your timing right. The point is to squeeze a little more juice out of the market, sidestep the peaks, and avoid giving traders what they call “exit liquidity.” 2. Buy altcoins in fixed amounts with strict limits 2. Buy altcoins in fixed amounts with strict limits Many altcoins will never reach their previous all-time high. Most will die. With altcoins, you’re speculating on experimental financial technology, social movements, reward programs, and outright scams. With altcoins, you’re speculating on experimental financial technology, social movements, reward programs, and outright scams. Today, none are worth more than $0, but some will grow so much that you have to take a chance on buying them. Wait for big drops in the overall altcoin market, then buy a specific, fixed amount. The drops will give you good discounts. The investment limits will prevent you from losing too much on your losers without putting a cap on how much you gain from the winners. Those winners might deliver 2–10x by the end of the year and 10–100x or more over the coming years. Plus, you may get an altseason along the way — an opportunity to sell your losers, often for more than you paid for them. I prefer to wait for the lines in this chart to reach the respective shaded boxes (any of them will do): If it helps, read my Medium articles about altcoins . my Medium Medium articles about altcoins https://medium.com/@m.helfman/my-medium-articles-about-altcoins-0ef000ed0bf0?embedable=true https://medium.com/@m.helfman/my-medium-articles-about-altcoins-0ef000ed0bf0?embedable=true 3. Sell only when necessary 3. Sell only when necessary Selling crypto is incredibly risky. You’re giving up an asset with massive growth potential to avoid a temporary downturn. Even taking profits is a decision you want to weigh carefully. Check these boxes before you do. these boxes https://cryptoiseasy.beehiiv.com/p/taking-profits-crypto-check-four-boxes-first?embedable=true https://cryptoiseasy.beehiiv.com/p/taking-profits-crypto-check-four-boxes-first?embedable=true That said, sometimes the market forces you to do sell. In 2024, that was March and the beginning of April, when we saw signs that we only see before major reversals. Remember that “major reversals” range between 30% and 85% — but you don’t know which one you’ll get! A 30% drop sounds bad, but the market often rebounds within a few months, then goes higher than when you sold. On the flipside, even if you hit “the peak” exactly right, you might get screwed when you buy back your stake if Bitcoin’s price doesn’t fall far enough. With taxes, fees, and natural market volatility, you may get less crypto than you sold! I prefer to save cash so I don’t have to time the market, but I did tell my newsletter subscribers to sell some Bitcoin in March, when its price ranged from $62–74k, and sell some altcoins at the beginning of April, right before that big drop in the chart above. In hindsight, that looks like a good decision, but at the time, there was no reason we couldn’t have gotten one more leg up and an amazing altseason before that inevitable crash. 4. Buy more as the price goes lower 4. Buy more as the price goes lower You may hear people tell you to wait for the market to trend higher and then buy as it goes up. I’d rather wait until the market drops and buy more aggressively as the price goes lower. That way, every extra dollar brings back more value. As a bonus, once the market turns around, I have my allocation and don’t need to worry about anything. It’s pure growth from there on out. Once everybody agrees that prices should go up, you’ve likely missed the best chance to buy. This also gives you a good chance to beat the overall market. Quite often, the scariest times are the best times to buy. Use the Wall Street Cheat Sheet as your guide. For example, if you ask your average person which year was the best to buy Bitcoin, 2022 or 2023, they would tell you 2023. They’d say the smart investors held cash in 2022 and bought crypto in 2023. In 2022, LUNA collapsed, lending platforms crumbled, FTX imploded, and people lost billions. The US stock market tanked, the world economy deflated, many central banks raised rates, and China’s real estate market melted down. Since 2023, the market has gone up. “Only idiots bought in 2022 and held cash in 2023.” Yet, if you bought crypto on any random day in 2022 and put cash into a money market fund in 2023, you came out ahead of everybody who bought crypto on any random day in 2023 and put cash into a money market fund in 2022. In 2022, bitcoin’s average price was $28,100. In 2023, bitcoin’s average price was $28,800. You got a better deal in 2022. In 2022, your cash got a 3% annualized return. In 2023, your cash got a 5% annualized return. In 2022, bitcoin’s average price was $28,100. In 2023, bitcoin’s average price was $28,800. You got a better deal in 2022. In 2022, your cash got a 3% annualized return. In 2023, your cash got a 5% annualized return. Bottom line Don’t “buy low, sell high.” Buy low and grow. Wait for the market to drop, then buy. When you see extreme signs that the market’s too hot, you can think about selling. Always limit your exposure to any altcoin. These simple tips will give you an edge over the competition and boost your portfolio. Mark Helfman publishes the Crypto is Easy newsletter. He is also the author of three books and a top Bitcoin writer on Medium and Hacker Noon . Learn more about him in his bio and connect with him on Tealfeed . Crypto is Easy Crypto is Easy Medium Medium Hacker Noon Hacker Noon bio Tealfeed

The Best Strategies for Investing in Crypto in 2024 

Lucas Hoffman, CTO at 0xProcessing, a crypto payment gateway for businesses with Web3 integration, uncovers the dependence of crypto transaction volume on market conditions, the popularity of auto-conversion into stablecoins, and calculates the share of BTC in crypto processing. Q: The cryptocurrency market is going through a big upswing again. Bitcoin recently reached a new high, and other cryptocurrencies are also doing well compared to last year. Has this affected the crypto processing market? How did the volume of payments change? This question is not about the dollar equivalent of TRX volume, which obviously went up just because the exchange rate grew sharply. 0x: The number of payments made through crypto payment gateways has been growing lately every year. Of course, when the price of Bitcoin goes up, more businesses become interested in accepting crypto payments. But even during the tough times for crypto in 2022-2023, we saw more people using crypto payment gateways. Our data shows that in the first quarter of 2021, over 200 thousand transactions went through 0xProcessing. By the end of the first quarter of 2022, even though Bitcoin's price dropped, we had already processed 1.5 million transactions. By the end of 2023, over 3.5 million transactions had been completed through 0xProcessing. By this April, 0x processed over 4.5 mln of transactions. The number of merchants has risen to 400+. This shows that more and more people want to use crypto for payments, both businesses offering it on their websites and users making the payments. Q: 0x was launched in 2020 supporting 5 blockchains and 15 coins. Now, it supports 13 blockchains and over 50 cryptocurrencies. Which blockchains are the most popular in B2C payment? Where do regular users have the most transactions? 0x: Among the most popular cryptocurrencies are BTC, ETH, BNB, DOGE, LTC, DASH, SOL, alongside stablecoins like USDT and DAI. When it comes to blockchains, users tend to favor networks with low fees, such as BNB Chain, TRON, and DOGE. Q: So, Bitcoin isn't the top choice for most merchants? 0x: Bitcoin holds a unique position. Due to its widespread use, merchants typically prioritize accepting Bitcoin payments. Consequently, despite its higher fees compared to other blockchains, Bitcoin still accounts for a significant share of crypto processing. According to our internal statistics, currently, transactions in BTC account for 26% of overall turnover through 0xProcessing. Q: What merchants are the main users of crypto payment gateways? 0x: Cryptoprocessing is particularly favored by merchants who operate globally, especially those in the virtual space, owing to its advantages in speed, low fees, and ability to handle international transactions. For example, VPN services, such as Eva VPN which operates globally and has hundreds of secure VPN servers around the world. Q: Why do businesses show interest in crypto payments despite the volatility of cryptocurrencies? 0x: Businesses such as gaming and betting platforms, subscription services, and global merchants seek fast electronic payments worldwide, beyond the confines of specific countries or regions. Their users require quick account replenishment, and crypto processing proves to be a much more convenient and faster method than traditional payment systems or bank transfers. The issue of cryptocurrency volatility in processing is not a problem anymore. Particularly, 0xProcessing addresses the volatility issue with its Volatility Risk Control System service. This service automatically converts crypto received as payment to stablecoins, safeguarding assets from market fluctuations. Merchants can choose the portion of crypto to convert into stablecoins and which share of the payment to retain as crypto. Q: Do merchants prefer immediate conversion to stablecoins upon receiving payments, or do they hold part of their assets in cryptocurrency? 0x: The preference for automatic conversion to stablecoins depends on market conditions. During bear markets, merchants tend to increase automatic conversion amounts to shield against cryptocurrency depreciation. Conversely, amidst recent bullish trends, the share of auto-conversion has notably declined. Merchants, akin to crypto investors, favor HODLing, anticipating enhanced profitability through the appreciation of accepted coins. Q: Can you compete with the large crypto processing companies in the market? 0x: In some cases, being affiliated with a major crypto exchange or belonging to a large holding can actually be detrimental to crypto processing. Crypto processing is inherently personal. Each merchant has unique needs and specific requests. A one-size-fits-all solution, like a generic product on a supermarket shelf, often falls short. Merchants require fast, simple, and cost-effective solutions tailored to their individual requirements. At 0xProcessing, we've embraced this personalized approach to client relationships. Our technical support team is available round-the-clock, ensuring prompt assistance. We take pride in our swift response times, with queries typically answered within 60 minutes. Additionally, our APIs are designed for easy customization, requiring no specialized programming knowledge, thus empowering merchants to configure them according to their preferences. Finally, the introduction of Web3 into crypto processing is our unique offer. Almost no one has anything like this on the market. Q: In 2021, 0xProcessing introduced Web3 wallet integration. How does this change crypto payment processing, and why is it considered more secure? 0x: With Web3 wallet integration, crypto payment processing becomes more streamlined and secure. This approach enables direct connection with users' Web3 wallets, enhancing security by minimizing intermediaries and facilitating seamless transactions directly from users' wallets. Lucas Hoffman, CTO at 0xProcessing, a crypto payment gateway for businesses with Web3 integration, uncovers the dependence of crypto transaction volume on market conditions, the popularity of auto-conversion into stablecoins, and calculates the share of BTC in crypto processing. Lucas Hoffman, CTO at 0xProcessing, a crypto payment gateway for businesses with Web3 integration, uncovers the dependence of crypto transaction volume on market conditions, the popularity of auto-conversion into stablecoins, and calculates the share of BTC in crypto processing. Lucas Hoffman, CTO at 0xProcessing , a crypto payment gateway for businesses with Web3 integration, uncovers the dependence of crypto transaction volume on market conditions, the popularity of auto-conversion into stablecoins, and calculates the share of BTC in crypto processing. 0xProcessing 0xProcessing Q: The cryptocurrency market is going through a big upswing again. Bitcoin recently reached a new high, and other cryptocurrencies are also doing well compared to last year. Has this affected the crypto processing market? How did the volume of payments change? This question is not about the dollar equivalent of TRX volume, which obviously went up just because the exchange rate grew sharply. Q: The cryptocurrency market is going through a big upswing again. Bitcoin recently reached a new high, and other cryptocurrencies are also doing well compared to last year. Has this affected the crypto processing market? How did the volume of payments change? This question is not about the dollar equivalent of TRX volume, which obviously went up just because the exchange rate grew sharply. 0x: The number of payments made through crypto payment gateways has been growing lately every year. Of course, when the price of Bitcoin goes up, more businesses become interested in accepting crypto payments. But even during the tough times for crypto in 2022-2023, we saw more people using crypto payment gateways. Our data shows that in the first quarter of 2021, over 200 thousand transactions went through 0xProcessing. By the end of the first quarter of 2022, even though Bitcoin's price dropped, we had already processed 1.5 million transactions. By the end of 2023, over 3.5 million transactions had been completed through 0xProcessing. By this April, 0x processed over 4.5 mln of transactions. The number of merchants has risen to 400+. This shows that more and more people want to use crypto for payments, both businesses offering it on their websites and users making the payments. Q: 0x was launched in 2020 supporting 5 blockchains and 15 coins. Now, it supports 13 blockchains and over 50 cryptocurrencies. Which blockchains are the most popular in B2C payment? Where do regular users have the most transactions? Q: 0x was launched in 2020 supporting 5 blockchains and 15 coins. Now, it supports 13 blockchains and over 50 cryptocurrencies. Which blockchains are the most popular in B2C payment? Where do regular users have the most transactions? 0x: Among the most popular cryptocurrencies are BTC, ETH, BNB, DOGE, LTC, DASH, SOL, alongside stablecoins like USDT and DAI. When it comes to blockchains, users tend to favor networks with low fees, such as BNB Chain, TRON, and DOGE. Q: So, Bitcoin isn't the top choice for most merchants? Q: So, Bitcoin isn't the top choice for most merchants? 0x: Bitcoin holds a unique position. Due to its widespread use, merchants typically prioritize accepting Bitcoin payments. Consequently, despite its higher fees compared to other blockchains, Bitcoin still accounts for a significant share of crypto processing. According to our internal statistics, currently, transactions in BTC account for 26% of overall turnover through 0xProcessing . 0xProcessing 0xProcessing Q: What merchants are the main users of crypto payment gateways? Q: What merchants are the main users of crypto payment gateways? 0x: Cryptoprocessing is particularly favored by merchants who operate globally, especially those in the virtual space, owing to its advantages in speed, low fees, and ability to handle international transactions. For example, VPN services, such as Eva VPN which operates globally and has hundreds of secure VPN servers around the world. Q: Why do businesses show interest in crypto payments despite the volatility of cryptocurrencies? Q: Why do businesses show interest in crypto payments despite the volatility of cryptocurrencies? 0x: Businesses such as gaming and betting platforms, subscription services, and global merchants seek fast electronic payments worldwide, beyond the confines of specific countries or regions. Their users require quick account replenishment, and crypto processing proves to be a much more convenient and faster method than traditional payment systems or bank transfers. The issue of cryptocurrency volatility in processing is not a problem anymore. Particularly, 0xProcessing addresses the volatility issue with its Volatility Risk Control System service. This service automatically converts crypto received as payment to stablecoins, safeguarding assets from market fluctuations. Merchants can choose the portion of crypto to convert into stablecoins and which share of the payment to retain as crypto. Q: Do merchants prefer immediate conversion to stablecoins upon receiving payments, or do they hold part of their assets in cryptocurrency? Q: Do merchants prefer immediate conversion to stablecoins upon receiving payments, or do they hold part of their assets in cryptocurrency? 0x: The preference for automatic conversion to stablecoins depends on market conditions. During bear markets, merchants tend to increase automatic conversion amounts to shield against cryptocurrency depreciation. Conversely, amidst recent bullish trends, the share of auto-conversion has notably declined. Merchants, akin to crypto investors, favor HODLing, anticipating enhanced profitability through the appreciation of accepted coins. Q: Can you compete with the large crypto processing companies in the market? Q: Can you compete with the large crypto processing companies in the market? 0x: In some cases, being affiliated with a major crypto exchange or belonging to a large holding can actually be detrimental to crypto processing. Crypto processing is inherently personal. Each merchant has unique needs and specific requests. A one-size-fits-all solution, like a generic product on a supermarket shelf, often falls short. Merchants require fast, simple, and cost-effective solutions tailored to their individual requirements. At 0xProcessing , we've embraced this personalized approach to client relationships. Our technical support team is available round-the-clock, ensuring prompt assistance. We take pride in our swift response times, with queries typically answered within 60 minutes. Additionally, our APIs are designed for easy customization, requiring no specialized programming knowledge, thus empowering merchants to configure them according to their preferences. 0xProcessing 0xProcessing Finally, the introduction of Web3 into crypto processing is our unique offer. Almost no one has anything like this on the market. Q: In 2021, 0xProcessing introduced Web3 wallet integration. How does this change crypto payment processing, and why is it considered more secure? Q: In 2021, 0xProcessing introduced Web3 wallet integration. How does this change crypto payment processing, and why is it considered more secure? 0x: With Web3 wallet integration, crypto payment processing becomes more streamlined and secure. This approach enables direct connection with users' Web3 wallets, enhancing security by minimizing intermediaries and facilitating seamless transactions directly from users' wallets.

0xProcessing: BTC Accounts for 26% of All Transactions Through Payment Gateway

This paper is available on arxiv under CC 4.0 license. Authors: (1) Qin Wang, CSIRO Data61, Australia; (2) Shiping Chen, CSIRO Data61, Australia. Table of Links Abstract & Introduction Ethereum Accounts Account Abstraction Security Analysis Further Discussions Conclusion & References Abstract Ethereum recently unveiled its upcoming roadmap’s Splurge phase, highlighting the integration of EIP-4337 as a foundational standard for account abstraction (AA). AA aims to enhance user accessibility and facilitate the expansion of functionalities. Anticipatedly, the deployment of AA is poised to attract a broad spectrum of new users and ignite further innovation in DApps. In this paper, we elucidate the underlying operating mechanisms of this new concept, as well as provide a review of concurrent advancements in accounts, wallets, and standards related to its development. We step further by conducting a preliminary security evaluation to qualitatively assess the extent of security enhancements achieved through AA updates. —Ethereum, Account Abstraction, EOA Index Terms I. INTRODUCTION Accounts within the Ethereum ecosystem [1] serve as the bedrock for asset querying, storage, and transactions, constituting a pivotal element of its infrastructure. However, the present account design poses challenges for Web2 users due to its complicated design. Ethereum classifies accounts into two types [2], namely, externally owned accounts (EOA) and contract accounts (CA)[1]. EOA is controlled by private keys held by its creators or users. Contract accounts are controlled by codes without the involvement of private keys (Fig.1). The reliance on private keys makes these two accounts act in different roles: EOA can prove the validity of a transaction and trigger the state transition in CAs but with limitations: • Expense: The functioning of the contract wallet necessitates initiation by an EOA, essentially entailing a contract invocation. Every transaction within this process incurs an extra 21,000 Gas cost, which includes charges for ECDSA signature verification, Nonce value verification, and ensuring adequate account balance. • Elevated barrier: EOAs must possess a substantial ether balance to cover Gas expenses (involving management of two separate accounts), or alternatively depend on a Relayer to manage Gas payments, potentially introducing centralization concerns. • Flunction: In addition to the fee in ether (ETH), users are consequently required to hold ether, which exposes them to the potential volatility of its price. • User perception: From a user’s perspective, grasping the nuances of gas price, gas limit, and transaction congestion is far from straightforward. The effort to integrate two distinct types of accounts while preserving their core functionalities has been a longstanding subject of deliberation within Ethereum communities. Two primary technical pathways have come to the forefront. • EOA delegates control to smart contracts, in which the contract logic can inplement the core functionalities from EOA transactions such as gas payment (e.g., EIP[2] -3074). • EOA accounts are designed to be armed with several key functionalities from smart contracts (EIP-4337). The concept of account abstraction (AA), indexed by EIP4337 [3], aligns with the second approach, aiming to bestow EOA with the programmable functionality akin to CAs. The incorporation of EIP-4337 into the present roadmap [4] signifies Ethereum’s definitive stance in these dual directions. By adopting AA updates, Ethereum sidesteps the potential hurdle of transitioning existing users. This is attributed to its implementation on the application layers rather than the consensus layer, which inherently offers robust backward compatibility capabilities. Ethereum transactions are required to emanate from EOAs, which are typically accessed through various wallets like MetaMask, Phantom, and Rainbow. The account abstraction approach ensures the retention of current users while empowering them with an effortless means of engaging with smart contracts. Beyond that, the functionalities elucidated in EIP-4337 can be further applied across Ethereum-compatible blockchains, including platforms such as BNB Chain (formerly BSC), Polygon, Avalanche, Optimism, Arbitrum, and Base (also refer to Sec.III-D). As of August 2023, a sequence of indicators[3] highlights the escalating attention garnered by this impactful concept. The cumulative count of active accounts has reached 739,295, and the aggregate count of successfully executed UserOperations (detailed explanations refer to Sec.III) has reached 1,307,197. In addition, the total number of bundled transactions has amounted to 1,197,871. Besides, in August, a remarkable upswing is observed across various market indicators compared to previous months (starting from March 2023, which marks the launch of EIP-4337): The count of monthly active EIP4337 smart accounts has surged to an impressive 420k (inclusive of all platforms). The earnings from monthly revenues and UserOperation fees have surpassed 24k and 220k respectively. Notably, the monthly tally of successfully executed UserOperations stands at 710k, while the gas expenses covered by paymasters have exceeded $360k USD Given its nascent stage, only a limited number of studies have delved into this emerging concept. We are aligned with the growing momentum surrounding account abstraction and further expand the boundaries of its research landscape. In particular, Our attempts. (Sec.II&III). We conduct a thorough exploration of diverse resources, including academic literature, blogs, forum discussions, and Git repositories. Drawing from such analyses, we offer a coherent and succinct elucidation of the fundamental concepts and operational mechanisms of account abstraction. • Concept refinement (Sec.IV). We further delve into the security risks that may exist in AA. Delving into historical contract and account-related vulnerabilities, we construct a framework (Tab.III) to engage in a proper discussion about the security implications of this account paradigm. • Security framework (Sec.V). Additionally, we provide more discussion about the principle of account abstraction designs and potential opportunities inspired. • Further discussion Our security discussion (majorly Sec.IV) led to the following insights. It is evident that integrating AA into current account systems can alleviate a multitude of vulnerabilities in both contract usage and block creation domains. However, AA’s effectiveness remains limited when addressing intrinsic aspects of solidity language and design intricacies, such as structural elements, configuration constraints, and verification mechanisms. Upon further analysis, we have identified that AA’s strength in fortifying security arises from its decoupling of key account abstraction components. By reallocating functions previously encompassed within accounts, AA can protect against numerous vulnerabilities in Ethereum’s application layer: critical functions like gas payment mechanisms are seamlessly transferred to the paymaster, avoiding vulnerabilities related to gas fees; the intricate process of transaction packaging now benefits from the management of bundler; and complex trading and swapping operations, previously reliant on CEX or DEX, are elegantly executed within the same transaction. The decoupling process has reduced the threat that was heavily dependent on contract functions. thereby increasing the overall security quotient. Security results. The Ethereum official documentation [4] has introduced formal documentation detailing its account abstraction concept and roadmap that is accompanied by a suite of relevant standards, encompassing EIP-2771, 4337, 2938, and 3047. Notably, EIP-4337 encapsulates the central concept driving this transition. In a study by Singh et al. [6], an initial exploration into the Ethereum account abstraction is provided, outlining its distinctive features and functional methodologies. Binance Research [7] has released an insightful analysis that delves into recent market trends and noteworthy advancements within this area. Based on these contributions, a range of media sources [8]–[11] have embarked on elucidating this intricate concept, offering surrounding insights and explanations. Besides, several studies have initiated the development of on-top solutions aimed at addressing various challenges within the Web3 ecosystem [12], such as address incompatibility [13]. Available resources. [1] Across several documents, the term smart contract account has been used interchangeably to denote the same concept within the context of this paper. [2] Ethereum Request for Comment (ERC) is one type of Ethereum Improvement Proposals (EIP) that requires on-chain agreements. Throughout this paper, we use EIP to refer to all standards for the sake of simplicity. [3] Dune Analytics https://dune.com/niftytable

Account Abstraction, Analysed: Abstract & Introduction

Just as mobile apps and social media revolutionized the consumer experience more than a decade ago, now artificial intelligence (AI) is set to shake up enterprises. Over the years, businesses have come to rely heavily on technology to facilitate communications, enhance productivity, and drive innovations. Today, the integration of AI into business operations promises even greater potential. It's worth noting that numerous groundbreaking technologies of the past have traced a similar trajectory: initial recognition, excitement culminating in the hype, a gentle letdown when the hype confronts reality, and then a meteoric rise once the technology breaches a critical threshold and demonstrates its value. This trajectory mirrors the advancement of generative AI but at an unprecedented, breakneck speed. ChatGPT was officially unveiled to the public on November 30, 2022, primarily as a techno-demonstration. A mere two months post-launch, it already had an impressive user base of approximately 100 million active users, earning the title of the fastest burgeoning consumer application in recorded history. From then on, generative AI has sustained a rapid pace of progress, with the advent of multiple new tools and applications showcasing the enormous capacity of this technology to revolutionize how individuals conduct their lives and professional activities. Moreover, a recent survey conducted by Salesforce underscores the prevailing sentiment among IT leaders, with that generative AI is anticipated to play a significant role in their organizations in the future. This technological advancement enables organizations to derive greater value from their extensive data pools and streamline labor-intensive processes such as transcription of meeting notes and management of consumer inquiries. These prospects for enhanced efficiency have instigated a competitive rush among businesses to leverage AI. According to an analysis by McKinsey, generative AI is poised to add a value of $2.6 trillion to $4.4 trillion annually, primarily by enriching customer experiences, innovating research methodologies, and facilitating task automation. Furthermore, Salesforce anticipates generating over . 86% asserting $2 trillion in business revenue and creating approximately 11.6 million jobs from 2022 to 2028 Notably, AI adoption is not limited to just tech giants or innovators anymore. Businesses of all sizes and across industries are recognizing the potential of AI solutions to transform their operations. Whether it's improving supply chain management and forecasting, optimizing resource utilization, or delivering personalized customer experiences, AI is becoming a valuable asset across the business spectrum. Now decides next: The swift rise of generative AI The period of innovation that took off around 2007 made use of social media and app stores to help companies achieve scale in the consumer market, but this time is different. They were the engines of growth, brand visibility, and user acquisition, as entrepreneurs and innovators raced to tap into the ever-expanding digital marketplace. However, this time, the narrative has taken a turn. While social media networks and app stores continue to play a significant role in consumer engagement, the generative AI boom is redirecting the focus toward the engine rooms of enterprises, making people and processes radically more productive. Unlike the prior wave that saw AI-generated content as the front-rank innovation, the present technological tide is characterized by deep learning algorithms and AI systems that are increasingly sophisticated and accessible. AI is changing how products are designed, how customer data is analyzed, and how decisions are made. Enterprises are turning to AI to optimize supply chains, forecast market changes, automate administrative tasks, personalize customer service, and improve cybersecurity. This distinction is crucial: the present era is less about reaching the consumer directly and more about enhancing the fundamental capabilities of businesses to serve those consumers more effectively and efficiently. It's a shift from consumer-facing front-end innovations to backend process optimizations that can bring about more profound and lasting transformations across industries. Enthusiasm for generative AI solutions is still surging, and significant transformations are anticipated within the next three years. Yet, this excitement is not without its apprehensions, as also express a sense of uncertainty. 30% of IT leaders Some anticipate that generative AI will catalyze profound changes within their enterprises and respective sectors in the next three years—remarkably, almost a third are foreseeing significant transformations to either unfold presently (14%) or within a timeframe shorter than one year (17%). There is a trend where many enterprises are gearing up to escalate their applications of AI, pivoting towards a more substantial integration of generative technologies. This reflects the broader market dynamics, where firms globally are quickening their pace, advancing from experimental proof-of-concept stages to broader, more ambitious deployments. These deployments span diverse use cases and data types, with companies seeking to seize the swiftness and value that generative AI promises, all while judiciously navigating its potential risks and societal ramifications. Measuring business value and benefits of generative AI Companies all around continue to discover innovative, practical applications for the technology, far surpassing the realm of artificial chatbots. Businesses aren't just using generative AI for operational tasks. The technology is also being adopted in traditionally people-driven roles, such as sales and marketing, with resounding success. Current generative AI efforts remain more focused on efficiency, productivity, and cost reduction than on innovation and growth. A significant portion of organizations are currently harnessing generative AI for practical gains such as enhancing efficiency and productivity (56%) and lowering costs (35%). This trend aligns with historical precedents associated with tech adoption phases. In the early stages, organizations typically prioritize subtle enhancements to their existing processes and services, picking off the low-hanging fruit, while fortifying their understanding, proficiency, and assurance in the nascent technology. As their expertise evolves, they broaden or recalibrate their focus towards more innovative, strategic, and transformational advancements—putting the novel technology to work for driving growth, gaining a competitive edge, and unlocking new capabilities that were previously inconceivable. Leaders with higher levels of AI proficiency demonstrate earlier indications of ascending this curve, being keener on revealing new concepts and insights. Even so, these practical advantages continue to remain their primary focus. Unquestionably, productivity and efficiency can be metamorphic, especially when contemplating the significant scale that generative AI brings to the table. However, the most substantial benefits and strategic differences will potentially emanate from using the technology as a catalyst for innovation. On one hand, it can aid in devising new products, services, and functionalities that would have been unimaginable otherwise. On the other hand, it can foster new business paradigms and workflows throughout an organization, thereby redefining the way businesses function. As has been the case in the past, organizations are predicted to first focus their efforts on enhancing efficiency, augmenting productivity, saving costs, and pursuing other forms of gradual improvements. This approach is expected to aid the workforce in acclimating to the use of generative AI and demonstrating how this technology can simplify their professional roles. Moreover, initial successes will likely yield cost benefits and stimulate a momentum that can be redirected toward pursuing higher-value areas. This could involve more strategic and distinctive endeavors, like facilitating the creation of novel products, services, and business models. Not to mention, it paves the way for innovative work methods that were impractical before the advent of generative AI. Reflecting the focus on immediate gains from generative AI, are currently leaning heavily toward readily available solutions. They're tapping into: the majority of companies : These applications are aimed at enhancing everyday efficiency by automating routine tasks and processes. Productivity Tools with Generative AI Integration : These platforms are typically used across organizations to improve various business functions by leveraging AI's data processing and analysis power. Enterprise Systems with Generative AI Capabilities : Such applications are designed to be broadly applicable, aiding a wide range of industries and sectors with generalized tasks. Standard Generative AI Applications : Platforms like ChatGPT exemplify public LLMs, known for their versatility in language processing, capable of diverse applications like conversation, content generation, and more. Public Large Language Models (LLMs) like ChatGPT On the flip side, there's less enthusiasm for the more niche, customized generative AI tools, including: : These are specialized solutions intended for particular sectors, offering tools that align more closely with unique industry demands and vocabularies. Industry-Specific Software Applications : Organizations may opt for private LLMs to tailor language processing capabilities according to their proprietary needs or for enhanced data privacy. Private Large Language Models (32%) : It's a bit of DIY in the AI world, taking publicly available open-source LLMs and modifying them to fit their specific business requirements more closely. Customized Open-Source LLMs (25%) The prevalent reliance on generic, out-of-the-box solutions aligns with the present, emergent phase of generative AI integration, with a strong emphasis on streamlining and augmenting the productivity of conventional operations. Nevertheless, as the applications for generative AI branch out — becoming more distinct, specialized, and strategically imperative — it is anticipated that the strategies for development and the supporting tech infrastructures will evolve accordingly, embracing a more bespoke approach to deliver greater competitive advantage and value generation. What’s the change? Generative AI may not possess the ability to rapidly build a large user base like social media platforms or mobile apps, but it is bringing about a unique change—one that is transforming large organizations from within. It’s all about transforming how large organizations operate from the inside out, making every task more efficient and boosting overall productivity. Unlike consumer-centric technologies, generative AI doesn't construct an external user platform; instead, it builds an internal one, bolstering the backbone of organizations. This helps free up employees to engage with more challenging, valuable work. And it doesn’t stop there. AI-powered analytics can dig into the deep sea of data an organization produces, pulling out valuable insights and trends. The kind that can shape and guide strategic decisions, leading the business down a more profitable path. , reducing the workforce's mundane load and freeing up time for higher-value work. AI-powered analytics can sift through vast amounts of data to generate insights that inform strategic decision-making, consequently steering the company towards more profitable paths. It can revolutionize customer service by deploying chatbots for instant query resolution, elevate human resource functions with predictive hiring and talent analytics, and improve the supply chain with predictive logistics. AI models can automate routine tasks The point to emphasize here is that generative AI isn't about displacing human effort; it is about enhancing it. It's about 'augmentation' rather than 'automation.' It’s a tool that empowers the workforce to be more creative, strategic, and efficient, driving a significant upswing in productivity. The ultimate triumph of generative AI in the enterprise context is that it manifests the power to transform large organizations by enhancing the efficacy of their most valuable asset - people. It fosters a culture of collaborative intelligence where human creativity and decision-making are complemented by AI capabilities, harnessing the best attributes of both to give businesses a quantifiable competitive edge. As we move forward, generative AI's distinctive proposition—to make organizations fundamentally more efficient and productive—will be key. In a world increasingly driven by technological advancements, it is this potential to bolster human talent and streamline business processes that positions AI as a game-changing force in enterprise evolution. One of the most compelling facets of generative AI is its universal applicability. From small startups to multinational enterprises, businesses can deploy AI technologies to automate complex tasks, derive insights from large data sets, and create new ways of engaging customers. Unlike previous tech waves that often required substantial investment, making them the domain of large players, generative AI levels the playing field. Now, even small enterprises have the potential to disrupt established markets and challenge incumbents by leveraging AI-driven innovation. Furthermore, generative AI's versatility extends beyond mere operational efficiency. It's a catalyst for creating new products, services, and business models. With the ability to analyze trends and forecast demands with unprecedented accuracy, businesses can identify and capitalize on emerging market opportunities faster than ever before. Moreover, generative AI empowers companies to deliver highly personalized customer experiences, something that has become a significant differentiator in today’s competitive landscape. However, the journey toward AI integration is not without its challenges. Data privacy, ethical considerations, technical infrastructure, and skill gaps are some of the key issues enterprises must navigate to unlock the full potential of AI. As businesses push the boundaries of what's possible with AI, they also bear responsibility for ensuring that their innovations are ethical, transparent, and equitable. This includes addressing issues related to privacy, data security, employment, and the potential unintended consequences of AI systems. Business leaders must prepare their organizations for this transformation journey, fostering an AI-ready culture grounded in learning, adaptability, and ethical responsibility. Final Say Summing up, the generative AI boom is not just another chapter in the annals of technological advancement. It is a critical moment with the potential to fundamentally transform how businesses operate and compete. By embracing this revolution, companies can unlock new levels of efficiency, innovation, and customer engagement. But this requires not just adopting new technologies, but also adapting to the new realities they create—cultivating the right skills, embracing change, and navigating the ethical landscape with consideration. In doing so, businesses can harness the full power of generative AI, propelling themselves into a future where they’re not just participants in the digital revolution, but leaders shaping its course.

Generative AI in Business: Is It Set to Shake up Enterprises?

ব্যবসায় জেনারেটিভ এআই: এটি কি এন্টারপ্রাইজগুলিকে কাঁপানোর জন্য সেট করা হয়েছে?

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IA generativa en los negocios: ¿está destinada a revolucionar las empresas?

L’IA générative en entreprise : est-elle prête à bouleverser les entreprises ?

व्यवसाय में जनरेटिव एआई: क्या यह उद्यमों को हिला देने के लिए तैयार है?

ビジネスにおける生成 AI: 企業に大きな変革をもたらすのか?

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IA generativa nos negócios: está preparada para abalar as empresas?

Генеративный ИИ в бизнесе: готов ли он встряхнуть предприятия?

İş Dünyasında Üretken Yapay Zeka: İşletmeleri Sarsmaya Hazır mı?

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商业中的生成式人工智能：它会撼动企业吗？

Software Repositories and Machine Learning Research in Cyber Security: Abstract & Introduction 

The OG digital asset will be the most interesting story in Web3 for 2024 It's a new year, and that means forecasting time! 2024 will be a landmark year for Web3, with Bitcoin leading it into the popular consciousness. "A long time ago in a galaxy far, far away…" Web3 in 2023 2023 saw several green shoots for the industry. The market cap of crypto assets recovered from . Major corporations such as , , and are implementing Web3 loyalty programs, signaling broad industry interest. Moreover, , , and are shaping regulations to integrate Web3 into their economies, recognizing its potential for future growth. US$ 840 billion in January to US$ 1.7 trillion by December Starbucks Lufthansa Fiat Japan South Korea Hong Kong However, despite these macro trends, enthusiasm by the general public has been muted. Since the , interest has dissipated with price drops. Yet, key developments in Bitcoin are setting the stage for a significant shift. "Crypto Winter" of 2022 Factors such as rising prices, the upcoming halving, US spot ETF listings, and the introduction of Ordinals are poised to propel Bitcoin and Web3 back into mainstream prominence. "May the Force be with you" Bitcoin Prices Bitcoin mounted an impressive comeback in 2023, increasing from a US$ 16,000 low in January to US$ 44,000 in December. Its share of the . crypto market cap increased 38% to over 50% This price surge not only benefits investors but also attracts broader market interest, which encourages new builders and entrepreneurs into the entering sector. "I am a Jedi, like my father before me." Bitcoin Halving Bitcoin has a fixed supply of 21 million and has its scarcity managed by a mechanism called "halving." Every four years, the rewards a miner receives for securing the network are reduced to curb inflation and create scarcity. The fourth halving is scheduled for April and will reduce mining rewards from . 6.25 to 3.125 Bitcoin This event historically triggers a rise in Bitcoin's value. For instance, after the first halving, Bitcoin's price soared from US$ 12 to over US$ 1,000. "In my experience, there is no such thing as luck." US Bitcoin Spot ETF The signifies a major advancement in mainstream adoption. ETFs provide a simpler way for retail and institutional investors to engage with Bitcoin, potentially catalyzing wider participation in the upcoming market upswing. US approval and listing of a Bitcoin Spot ETF While already provide investors access to crypto products, it's a huge step for mass market adoption in the world's largest market capital market. several traditional stock exchanges "I find your lack of faith disturbing." Bitcoin Ordinals While not popularly associated with the NFT boom, the first blockchain-based NFTs were built on a Bitcoin protocol. However, Bitcoin's protocol wasn't adopted after the explosion of NFTs in 2021. This changed in , a new method for storing and trading digital content on the Bitcoin blockchain. This innovation led to a substantial increase in transactions and NFT sales, with January 2023 with the launch of Bitcoin Ordinals Bitcoin NFT sales surpassing Ethereum and Solana in 2023 with sales volume. "Chewie, we’re home." A Brighter 2024 The outlook for 2024 isn't solely about Bitcoin's trajectory; it encapsulates the growth of the entire ecosystem. Historical trends show that rising Bitcoin prices foster an influx of entrepreneurs and builders entering Web3. The next wave of interest in Web3 will be unprecedented as in addition to price gains and major market events, there is a trusted and simple way for the mass market to participate in the bull market. The stars are all aligned for this year to be an exciting and transformative inflection point for the entire Web3. This is where the fun begins. Disclosure: This article is provided for informational purposes only, it represents the personal views of the author and should not form the basis for making investment decisions, nor be construed as a recommendation or advice to engage in investment transactions.

Bitcoin Strikes Back; A New Hope for Web3 in 2024

The resilience of Web3 gaming, bolstered by an emerging crypto bull market, is paving the way for what industry experts are forecasting as a defining year in 2024. The sector, which has weathered the volatility of crypto bear markets, is now positioned at the brink of a potential upswing, fueled by both market dynamics and technological advancements. Crypto market excitement, coupled with the anticipated commercial release of several high-profile blockchain games, is set to usher an unprecedented number of gamers into the Web3 space. Dmitrii Morozov, CEO of , notes, "The groundwork laid in 2022 and 2023 with alpha and beta stages is coming to fruition, with many titles set for commercial release in 2024, potentially bringing Web3 gaming to new heights." GG MetaGame Recent highlights the momentum, showing about 1 million unique active wallets engaging with Web3 games daily in recent months. However, these numbers might just be a prelude to a much larger movement. Siu projects an influx of up to 100 million gamers by next year, a surge driven by the transition of numerous titles from their alpha and beta stages in 2022 and 2023 to full commercial launches in 2024. data from DappRadar "2024 is a growth year in terms of bringing people on to Web3," commented Yat Siu, co-founder of gaming and venture firm Animoca Brands, in a Cointelegraph interview. The casual Web3 gaming space, especially mobile games, is poised to be at the forefront of this wave. Siu envisions "tens of millions, maybe even 100 million gamers" being introduced to blockchain gaming through these accessible platforms. This article delves into 7 key predictions for the Web3 Gaming industry that might become realities in the next twelve months. Are you game? Read on! 1. Web2 game giants leap into Web3 The upcoming year is poised to established Web2 gaming giants making their foray into Web3. Already, industry stalwarts like Nexon, Netmarble, Krafton, and Come2uS, along with Western powerhouses such as Square Enix, Konami, Ubisoft, CCP Games, Scopely, EA, and Zynga, have started exploring the Web3 space. witness more In this regard, Dmitrii comments: "The entrance of these giants is a clear indication of the untapped potential in Web3 gaming, signaling a paradigm shift in the industry." 2. Expanding presence on major app stores Policies on major platforms like Apple App Store, Google Play Store, and Epic Games Store are evolving, making room for more Web3 games. In light of the EU Digital Markets Act, it's anticipated that mobile games on these platforms will begin incorporating stablecoins as a payment option, particularly benefiting European gamers. The U.S. market is also likely to see similar trends, owing to developments like Epic's victory over Google. 3. Growth of the gaming token market The market cap for gaming tokens currently stands at approximately . Given the recent growth rates in the gaming industry, it's plausible that this figure could soar to $40 billion or more in 2024. This growth would not only reflect the increasing monetary value but also signify the burgeoning interest and investment in Web3 gaming. $18 billion 4. Web2 brands embracing Web3 mechanics The trend of traditional, renowned brands integrating Web3 gamification is . Post-2022, brands like Nike, Starbucks, Gucci, Adidas, Dior, Louis Vuitton, Balmain, and Prada have either launched or intensified their Web3 initiatives. "The coming year could easily see a doubling of such Forever Brand activations in the Web3 domain," predicts Morozov. This movement indicates a broader acceptance and integration of Web3 concepts beyond the gaming sector alone. expected to continue 5. Play-to-Earn: about time for a natural evolution Play-to-earn (P2E) gaming emerged as a dominant trend in 2022, captivating a broad spectrum of users with the allure of earning real-world value through in-game activities. However, this model faced scrutiny as both game developers and players overly focused on the 'earn' aspect, often at the expense of genuine gaming experiences. A paradigm shift is now underway. A by the Blockchain Game Alliance (BGA) highlighted that improving game quality should take precedence over simply implementing P2E mechanisms. This sentiment is echoed by Oasys Games director Daiki Moriyama, who, in an , acknowledged the significance of P2E but emphasized its overemphasis in the current landscape. Moriyama suggests that leveraging well-known IPs and significantly enhancing user experience could recalibrate the focus. 2023 report interview Can Azizoglu, CEO of Web3 startup incubator Coinoxs, concurs with this evolving perspective. “The Web3 gaming landscape is diversifying. Players are seeking varied gaming experiences, not just P2E,” he stated. While P2E remains a popular model, the growth of the sector is increasingly inclusive of a broader array of gaming experiences. The shift in focus from P2E to more diverse gaming experiences marks a maturing of the Web3 gaming industry. Players are looking for games that prioritize engaging gameplay, indicating a move towards more sustainable and player-centric gaming models in the future. 6. NFTs: a shift from speculation to integral technology The role of Non-Fungible Tokens (NFTs) in the gaming industry is undergoing a significant transformation. Moving beyond mere speculative assets, NFTs are being re-envisioned as foundational elements within business models. Uluç Yuca, co-founder of Curator Studios, sheds light on this shift, noting that NFTs are transitioning from being just a form of currency to becoming a core part of the gaming business model. This evolution means that game studios are now looking beyond traditional in-game purchases and downloadable content. Instead, they are exploring player-driven economies that are facilitated by NFTs and royalties. Yuca elaborates, “NFTs offer players a financial stake in the game, akin to the founders and employees. This alignment with the game’s success transforms players into passionate advocates for games they love.” This changing perspective on NFTs signals a deeper, more intrinsic integration of blockchain technology within the gaming sector. Instead of being an afterthought or a supplementary feature, NFTs are becoming central to the gaming experience, fostering a community of players who are financially and emotionally invested in the game's success. This trend is a step towards creating more robust, player-centric economies within the gaming world, promising a future where players are key stakeholders in the games they engage with. 7. Games before prices: sustained growth beyond the next bull run The fluctuating nature of the crypto market often raises questions about the long-term viability of Web3 gaming. According to Yuca, there's a possibility that interest in Web3 gaming might wane during a bull run as investors pivot their focus to other market areas. However, he believes that the core technology and potential of Web3 gaming could continue to draw users and developers, leading to sustained interest over the long term. "The integration of blockchain technology into traditional gaming could also fuel continuous interest in Web3 gaming, even during a bull run," Yuca adds. "Ultimately, the success of Web3 gaming will hinge on its ability to offer unique and engaging experiences to users, irrespective of the market conditions." Echoing this sentiment, Morozov from GG MetaGame, opines that the allure of Web3 gaming is unlikely to diminish with market fluctuations. "We're witnessing a growing influx of players from traditional gaming backgrounds. With only a fraction of the global gaming population currently engaged in Web3 gaming, there's immense potential for growth," he asserts. Michael Powell, product marketing lead at Immutable, with this optimistic outlook. "Gaming is one of the sectors where blockchain technology has the most immediate applications and utility," he observes. "With active investments pouring into Web3 gaming, interest from major gaming companies, and improvements in developer tools, we're on the cusp of a major expansion in diverse game types across different ecosystems." concurs Powell also highlights the current upward trend in gaming tokens and strategic partnerships as indicators that the sector is primed for significant growth in the near future. "The momentum we're seeing now is a strong signal of the sector's readiness for major expansion," he concludes. In a nutshell In summary, while market conditions will continue to influence the Web3 gaming landscape, the consensus among industry leaders is clear: the future of Web3 gaming rests on its ability to deliver compelling and unique gaming experiences, transcending market trends and investor priorities. This focus on the gaming experience itself, rather than just financial aspects, could be the key to unlocking sustained growth and enduring success in the Web3 gaming domain.

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