For years, Ethereum developers have been hard at work on one of the network's gravest security risks: thousands of validators operate the second most valuable blockchain, but just a few of them have almost all of the power.

Every 12 seconds, a new block of transactions is added to Ethereum. Those blocks are added by validators, which could be companies, individuals or collectives that lock up, or "stake," at least 32 ETH (currently aboout $70,000 worth) in exchange for a steady yield.

Lido, the collective that is the biggest validator on Ethereum, controls 32% of all staked ETH. If this share grows by just a couple of percentage points creeping past the 33% threshold required to block a 67% supermajority of validators network outages or deliberate malfeasance at Lido could have massive ramifications for Ethereum as a whole.

This vulnerability stems from the "centralized" nature of most validators; virtually all validators are just individual computers (or servers) loaded with one of a few popular node-running softwares. If there are bugs in the software or if a computer falls offline or if the person operating a big validator decides to act dishonestly then the entire network might suffer.

Distributed validator technology, or DVT, aims to put these risks into the past. Projects that use the tech like Obol, SSV and Diva help validators spread their operations between several parties, ostensibly as a way to make validators more resilient and less subject to single points of failure.

DVT solutions have been talked about for a while, but even as some long-awaited DVT platforms are finally going live, their overall adoption remains low. By Obol's estimate, less than a single percentage point's worth of staked ETH is controlled by DVT-based validators.

In 2024, that could all change. Leaders in the DVT space are finally putting the finishing touches on their platforms, and Lido could soon transition some of its operations into the hands of distributed infrastructure.

This article is featured in the latest issue of The Protocol, our weekly newsletter exploring the tech behind crypto, one block at a time. Sign up here to get it in your inbox every Wednesday. Also please check out our weekly The Protocol podcast.

The big selling point of blockchain networks is that they are "decentralized." Ethereum's validator system which spreads power between parties according to how much ETH they stake is the main way it remains resilient to outages and stays "credibly neutral," meaning it's theoretically immune to the whims of companies or governments.

But just a few validators, including those run by Lido, have gradually amassed a lion's share of the power over the network.

Lido's market presence grants it a huge amount of sway over how transactions are added to the chain because validators ultimately choose which transactions are written to Ethereum and in what order.

Even more troublingly, should Lido or any other validator ever amass 33% of all staked ETH, it will have the ability to meddle with how the chain reaches consensus. If Lido goes offline or decides to attack the network once it passes this critical threshold, it could, in theory, put the brakes on all network activity.

The prospect of network attacks and unfair distribution of power have always loomed larger over Ethereum. The ecosystem has historically prided itself on operating with a relatively high degree of decentralization, and it shifted from a Bitcoin-esque mining system to its present-day staking regime in part to help further democratize control over the network.

But as certain stakers and Lido, in particular have amassed more and more control over the Etheruem network, DVT has been looked to as a possible saving grace.

"It all goes back to the ethos of Ethereum," said Alon Muroch, founder of DVT firm SSV, which offers a network that validator operators can use to split up control over their infrastructure. "People don't want to be dependent on a single entity. I think that ethos is very strong."

While no two DVT solutions are exactly alike, they generally work similarly, by splitting the "keys" to a given validator across several different nodes. A consensus of key holders needs to sign off on decisions over how DVT validators operate, and if one key holder goes offline, others can fill in to keep things running.

A benefit to this setup is the added resiliency.

"Today validators are single-engine planes. If a validator goes down, it's offline," said Brett Li, head of growth at Obol Labs, which is also building a network to distribute validators. With DVT, "It's redundancy. You can have two engines, and if one of the engines fails, you can still get where you need to go safely."

With product launches and testnets this year from Obol, Diva, SSV and others, long-simmering hopes for a more decentralized Ethereum validator network are finally nearing production.

In November, Lido took a first step toward transitioning to DVT with the introduction of its "Simple DVT Module." Lido takes deposits from users and distributes them across third-party validator operators. With the new DVT module, which is being tested in partnership with Obol and SSV, Lido's third-party validators can become decentralized blunting the ability for Lido, which ultimately controls its validators today, to exert undue pressure on them.

The ambitions for DVT operators don't end with Lido.

"If the milestone with Lido succeeds, then it's gonna be the standard for everyone, because Lido is the biggest," said Muroch." If Lido makes the move, then others will make the move."

It could take some time for Lido to transition its validators to DVT, or for wider infrastructure operators to feel comfortable adopting the technology. Validators run by big institutions might continue to run their validators fully in-house comfortable with the software and maintenance required to keep a validator node afloat, and reticent to adopt new tech that could impinge their flexibility.

But hobbyist "solo-stakers" and community-run collectives like Lido, which continue to account for a large overall proportion of all staked ETH, might soon embrace DVT as a result of its easy setup and ideological underpinnings.

"In two or three years you'll see hopefully between a third or half of validators running on DVT," Muroch estimated. Obol's Li offered a similar near-term prediction, and said that in the long-run he expects "80%" of validators to run on DVT-based infrastructure.

Correction (Dec. 21, 12:43 UTC): Corrects SSV founder Alon Muroch's name and title.

Read the rest here:

Lido Tests of 'Distributed Validator Technology' Portend 2024 Decentralization Push - CoinDesk

The PBS Foundation is opening applications for an initial $1 million in grants for research and development on Ethereum proposer-builder separation.

The non-profits pilot phase drew support from Coinbase, Consensys, Fenbushi Capital, Flashbots, Paradigm, the Uniswap Foundation and Vitalik Buterin.

Grants will be disbursed by a council. The council includes representatives from Blocknative, Consensys, the Ethereum Foundation and Flashbots, among others. The foundations grant lead is Eugene Leventhal from the research group Metagov.

Read more: For Ethereum rollups, dealing with data remains a bottleneck

First proposed by Ethereum founder Vitalik Buterin, proposer-builder separation (PBS) is the concept of separating proposers which submit transaction bundles to validators on a blockchain and builders, which organize the transactions in a specific order.

PBS represents an attempt at decentralization, as the combination of proposing and building gives well-heeled centralized mining pools a competitive advantage.

PBS first went into effect after Ethereums Merge to proof-of-stake. Now, the PBS Foundation aims to promote research and infrastructure to address some of the challenges the concept currently faces.

Notably, MEV-boost relays have become centralized since the Merge. Relayers operate between block builders and validators on maximal extractable value (MEV) boosted transactions, selecting blocks with the highest possible fees. Roughly 90% of transactions in the last 500 epochs, or roughly two days, made use of MEV-boost. Of MEV-boost transactions in the past 24 hours, roughly 97% have been handled by five relayers, according to relayscan.

Blocknative, once among those top relayers, discontinued its service in September, citing economic viability concerns. Relayers do not currently collect fees. Uri Klarman, CEO of bloXroute, which runs a large relayer, has advocated fee structures outside of public goods funding to incentivize more relayers to join the fray.

A spokesperson for the PBS Foundation said the grant funding could be used to fund relayers, with a particular emphasis on those who introduce novel designs for relaying.

The funding will also be focused on community and educational materials, data transparency on Ethereums mempool and blocks, and research on how PBS can be improved or even enshrined on both the primary network and on layer-2 networks.

Dont miss the next big story join ourfree daily newsletter.

See original here:

Buterin, Coinbase and more to fund Ethereum decentralization grants - Blockworks

In the evolving 'travelverse', where cutting-edge technology intersects with the timeless allure of exploration, the travel and hospitality industry stand at the cusp of a revolutionary shift. The integration of blockchain technology and Non-Fungible Tokens (NFTs) promises to redefine the landscape of travel experiences, loyalty programs, and the very essence of cultural interactions.

This short article delves into the opportunities presented by these technologies, drawing inspiration from an article of mine: Revolutionizing the Travel and Hospitality Industry with Blockchain and NFTs, published on Hospitality Net on 16 March 2023.

The core of travel lies in authentic experiences and cultural interactions. Blockchain technology, with its inherent data immutability and programmability, offers a unique platform to enhance these experiences without detracting from their authenticity.

Smart contracts, a pivotal element of blockchain, enable the automatic execution of agreements, ensuring reliability and efficiency in travel arrangements. This technological advancement can streamline processes, particularly repetitive ones, benefiting travelers and operators alike. It opens doors for small-scale operators to promote unique, local experiences, thereby preserving the authenticity of cultural interactions in the digital age.

Smart contracts are set to be the backbone of secure transactions in the travel ecosystem. By automating the verification and execution of contracts, they ensure transparency and reduce the potential for fraud. This aspect is particularly beneficial in areas like expense reporting and compliance in business travel, where smart contracts can streamline processes and ensure adherence to company policies.

Room tokenization, emerging through the innovative use of NFTs, offers a transformative approach in the travel and hospitality sector. This concept involves the digital representation of hotel rooms or unique travel experiences as non-fungible tokens.

These tokens, distinct and non-replicable, can be traded, sold, or even collected, introducing a dynamic new element to the travel market. This not only provides travellers with unprecedented flexibility and choice but also opens up novel revenue opportunities for service providers. By tokenizing rooms and experiences, the industry can cater to a range of traveler preferences, from those seeking luxury accommodations to those desiring unique, off-the-beaten-path experiences.

The role of NFTs extends beyond mere tokenization, playing a pivotal role in enhancing experiential tourism.

NFTs enable the sharing of a journey's narrative, encapsulating the essence of the places visited and the depth of connections made with destinations and cultures. This concept of "tokenization of emotions", as I"ve explored in my book "All about NFTs" by Hoepli publisher, allows for the representation of travel experiences as authentic, reputational values.

These tokens can be utilized for storytelling post-travel, adding value to the traveler's experience while simultaneously benefiting the destination and its operators. Through this innovative use of NFTs, the travel industry can create a more immersive and emotionally resonant experience, bridging the gap between physical travel and digital memorabilia.

Decentralization, a fundamental aspect of blockchain, can revolutionize loyalty programs in the travel industry. By removing intermediaries, blockchain enables a more direct and transparent relationship between service providers and customers.

This shift can lead to more personalized and flexible loyalty programs, where travellers have greater control over their rewards and experiences. The decentralized nature of blockchain ensures a more equitable and inclusive system, where smaller operators can compete with larger entities, offering unique and localized rewards.

As blockchain becomes more integrated into the travel industry, several challenges emerge. Adoption requires a significant shift in current operational models, and the industry must be prepared for this transition.

Regulatory frameworks are still catching up with the rapid pace of technological advancements, posing a challenge in terms of compliance and standardization. Ensuring a seamless user experience is crucial, as travellers vary in their tech-savviness. The industry must strive to make these technologies accessible and user-friendly.

The adoption of decentralized technologies is not without risks. Issues such as data privacy, security vulnerabilities, and the digital divide must be addressed. To mitigate these challenges, the industry needs to invest in robust security protocols, ensure transparency in data usage, and provide adequate digital literacy training to both travellers and service providers.

In an increasingly digital world, maintaining the human element in travel is paramount. While technology can enhance efficiency and convenience, it should not replace personal connections and human interactions that form the essence of travel. The industry must find a balance, leveraging technology to enrich experiences while preserving the personal touch that makes travel meaningful.

The integration of blockchain and NFTs in the travel and hospitality industry offers a plethora of opportunities, from enhancing the authenticity of travel experiences to revolutionizing loyalty programs and ensuring secure transactions.

However, it is crucial to manage these technological advancements with a keen awareness of their potential challenges and a commitment to preserving the human essence of travel. By striking this balance, the industry can step confidently into a future where technology and tradition coexist harmoniously.

Read more:

Embracing the future of travel ... decentralization | By - Hospitality Net

EDITORIAL USE (Photo by BRIAN BIELMANN/AFP via Getty Images AFP via Getty Images

On Tuesday, Nov 28, legendary Bitcoin Core developer Luke Dashjr announced the launch of OCEAN mining, which closed a $6.2M round led by Block Head Jack Dorsey as a new type of mining pool that aims to decentralize bitcoin mining.

As Luke put it in a communique on Oct 31, OCEAN is "a new type of pool that enables miners to be truly miners again."

Bitcoin mining today is primarily done via pooled mining, which requires miners to point their hashrate to a mining pool that aggregates this towards mining blocks and subsequently makes payouts to these miners. Nearly all mining pools communicate using a now outdated protocol introduced in 2012 called Stratum V1, which only lets the pool have the final say on which transactions ultimately make it into a block.

In the aforementioned communique from Oct 31, Luke highlights that "the centralization and overreach of other pool operators has changed Bitcoin to the point where the security model of Bitcoin is at high risk." Adding, "Pools operate like custodial bank accounts and have the ability to decide who can and who can't use Bitcoin."

It is for these reasons that increasing efforts are underway to decentralize bitcoin mining to address the issues with the existing Stratum V1 protocol, the consequences of having dominant mining pools in certain regions, and having mining done by a handful of pools.

OCEAN, a Wyoming-based company, co-founded by Bitcoin Core developer Luke Dashjr, is a non-custodial pool that requires only a bitcoin address to join, and is the successor of the Eligius bitcoin mining pool (a popular zero-fee mining pool that had mined over 11,631 blocks), which Luke founded and was operated from 2010-2017.

Since its launch, OCEAN has successfully found two blocks and operates at a hash rate of around 422.8 Ph/s. Additionally, as part of its commitment to transparency, the company displays its node policy and block templates on its website.

Over the last few weeks, discussions around handling data such as inscriptions on-chain have surfaced, with OCEAN being accused censoring these transactions, but seems to be a misunderstanding.

Due to OCEAN running a parallel implantation of the bitcoin node software, Knots, maintained by Luke, certain transactions in the above bucket go beyond the default maximum 42-byte datacarriersize limit (responsible for dictating the maximum size of data in data carrier transactions that get relayed and mined) which cause them to be excluded from the blocks it mines.

Currently, there are no Stratum V2 mining pools that engage in pooled mining, however, OCEAN intends to fully transition into using Stratum V2 and allow for payouts to miners over the Lightning Network.

As posted by Luke on Dec 8 on X, formerly Twitter, "OCEAN is on a path to decentralization, and very soon, we are going to be in a position where hashers will be able to fully participate as miners and perform the intelligent parts of mining such as deciding which version of node software to run and what filters or other policies to apply to block template construction."

Additionally, OCEAN is on a mission to build on its three core principles of being non-custodial, transparent, and permissionless by focusing its efforts in 2024, amongst other things, on "leveraging and improving Stratum V2" and incorporating "Lightning payouts, which will solve the dust problem for small miners."

The options for miners in 2024 are promising. The overall landscape of efforts focused on decentralizing bitcoin mining is also on a positive trend and, undoubtedly, a welcomed change for all miners globally.

I'm a Nigerian Bitcoin core contributor and the CEO of the Bitcoin venture capital firm Recursive Capital. I also serve as a board member of trust, a non-profit focused on training African bitcoin and lightning developers via Btrust builders and growing the African Bitcoin ecosystem.

See more here:

OCEAN Aims To Further Bitcoin Mining Decentralisation In 2024 - Forbes

The EthereumPOW core team is disbanding to achieve decentralized governance, with OneDAO providing temporary support. Image by Sergey Nivens, Adobe Stock.

The core development team behind the proof-of-work (PoW) fork of Ethereum announced on Tuesday its decision to dissolve EthereumPOWs centralized structure in favor of complete decentralization.

According to the announcement, the EthereumPOW core team will be disbanded in order to achieve full autonomy. Going forward, EthereumPOW will rely solely on PoW consensus and decentralized governance to become a deity-less public chain. This move hands over governance of the EthereumPOW blockchain to its community of users and miners.

Servers supporting the network will be transferred to OneDAO, a decentralized protocol on the Harmony blockchain. OneDAO will provide transitional maintenance for EthereumPOW until long-term ecosystem partners can be established.

Lead EthereumPOW developer Jadal Page explained the reasoning behind relinquishing centralized control.

We have explored and validated the feasibility of ETHW operating independently without Cores support, confirming the fundamental technical and operational conditions for ETHW in such a scenario, Page wrote in the announcement.

The Ethereum hard fork occurred in September 2022, just before the main Ethereum blockchain transitioned from PoW consensus to a more energy-efficient proof-of-stake model following the Merge upgrade.

Some developers and miners unhappy with the perceived centralization and loss of revenues created EthereumPOW to preserve the original PoW-based Ethereum. Since its launch, the forked token ETHW has struggled to gain adoption, however.

Grayscale decided against supporting ETHW in September, citing a lack of liquidity and custodial support. This removed a major source of potential demand. As a result, ETHW has declined from its launch price of $100 to around $2.59 currently.

By dissolving centralized control and embracing community governance, the EthereumPOW team hopes to reinvigorate the network. OneDAO will provide technical assistance during the transitional period as the developers step back. Still, success will ultimately hinge on whether the cryptocurrency community chooses to adopt EthereumPOW over the dominant Ethereum PoS blockchain.

Enter your email for our Free Daily Newsletter

A quick 3min read about today's crypto news!

See the rest here:

EthereumPOW Core Team Disbands to Achieve Full Decentralization as OneDAO Provides Transitional Support - Cryptonews

Cubas President Sets 2024 as Year of Territorial Decentralization

In a recent announcement, Cubas President, Miguel Daz-Canel, has set a goal for 2024 to advance in the decentralization of powers at the territorial level. This move seeks to bolster local capacities by using the resources and strengths inherent to each territory, as well as to strengthen work systems and productivity in municipalities. Decentralization is seen as a way to optimize management and sustainable development, allowing greater autonomy and response capacity to the specific needs of each region. With this measure, Daz-Canel is directing municipalities to exploit their endogenous potentialities and develop faculties that allow them to be more self-sufficient and efficient in their management.

(Read Also: Cubas Law No. 143: A Modern Approach to Criminal Justice)

In spite of the efforts of the government and related institutions, Cuba faces challenges in agricultural production and food security. There is an urgent need to organize local food systems to achieve food sovereignty and security. High prices of agricultural products and the impact of hurricanes on crops compound these issues. The program for urban, suburban, and family agriculture in Cuba is a focal point, highlighting its history, current situation, and challenges. The resurgence of potato cultivation in the province of Holgun, using agroecological techniques, is noteworthy.

The provincial governments of Cienfuegos and Las Tunas accounted for their management before the National Assembly of Peoples Power, detailing the operation of the main economic and social development programs in both territories during 2023. Measures to dynamize the national economy, improve healthcare and education sectors from the perspective of workers income, and the implementation of Law 143, Of the Criminal Process, were discussed. The implementation of the Family Code was also evaluated.

(Read Also: Rethinking Agriculture: Challenges, Innovations, and the Future)

The Horticultural Research Institute Liliana Dimitrova in the Mayabeque province is working on a project to reproduce aromatic plant species in Cuba, with the goal of replacing imports. They have successfully adapted 13 varieties of aromatic plants to the Cuban climate and are working on ensuring a high-quality product through good agricultural practices and proper processing. The institute aims to serve as an example for the rest of the country in this regard.

From 2024, Cuba will implement a series of socio-economic measures that will, according to President Miguel Daz-Canel, make a necessary leap in the economy. The National Assembly of Peoples Power of Cuba assessed the implementation of the Family Code positively, though recognizing there are paths to travel in its instrumentation. President Daz-Canel emphasized the importance of municipal assemblies playing a more active role in social prevention and attention strategies in communities. Cuba is currently working on modifications of the legal framework for micro, small, and medium enterprises (Mypimes) on the island, two years after the first norms to regulate their activities were approved.

Read More

Excerpt from:

Cuba's Decentralization Plans: Aiming for Local Autonomy by 2024 - BNN Breaking

Web3, coined by computer scientist Gavin Wood, represents a seismic shift in the evolution of the internet. Unlike its centralized predecessor, Web2, Web3 embraces decentralization through technologies like blockchain, smart contracts, and digital assets.

In the Web3 landscape, digital assets, made possible through tokenization on the blockchain, play a central role. Tokenization allows the representation of real-world assets as digital tokens, opening up new possibilities for ownership and investment.

Web3 isnt just a technological upgrade; it signifies a move towards a more democratic and inclusive internet. By embracing decentralization, web3 empowers users to actively participate in shaping the digital future. This transformation promises a user-centric internet where individuals are more than consumers they are integral contributors to the evolving online world.

The vision is clear: a decentralized internet that prioritizes transparency, decentralization and trustless transactions. Web3 paves the way for a digital landscape where innovation and collaboration thrive, marking a new era in the internets evolution.

To grasp the significance of Web3, its essential to trace its roots through Web1 and Web2. In the early days of the internet (Web1, 1990s-2000s), static web pages and open protocols defined the landscape, fostering a one-way flow of information. Fast forward to Web2 (circa 2005), a pivotal era marked by user-generated content on platforms like Facebook and Twitter. Despite this shift, control over transactions, content, and data remained centralized within tech giants.

Now, Web3 emerges as a transformative force, challenging the established norms. Central to this evolution is blockchain technology. This innovation revolutionizes trust and transparency, eliminating the need for intermediaries. In essence, Web3 breaks free from centralized constraints. It introduces a decentralized paradigm, empowering users and fostering transparency.

Web3, a multifaceted concept, unfolds with diverse visions, extending beyond a monolithic framework. Its landscape encompasses decentralized social networks, play-to-earn video games, and NFT platforms, illustrating a broad spectrum of possibilities within this realm. Rather than a singular narrative, Web3 emerges as a dynamic ecosystem with varying interpretations.

For advocates, Web3 stands as a transformative force, dynamically reshaping power dynamics by redistributing control to users and creators. Decentralization, the cornerstone of this vision, is seen as a means to empower individuals and foster a more inclusive digital environment. The promise of play-to-earn models and NFT platforms further adds layers to this outlook, presenting new avenues for economic participation and creative expression.

In navigating the diverse visions and controversies surrounding Web3, a nuanced understanding emerges, acknowledging both its transformative potential and the need for vigilant scrutiny to address valid concerns. The evolution of Web3 reflects a dynamic interplay of technology, ideology, and societal values, shaping the future contours of the internet and how its used.

Web3 is not a monolithic concept; it encompasses various visions, including decentralized social networks, play-to-earn video games, and NFT platforms. Some see it as a transformative force, shifting power back to users and creators, while others view it skeptically as a rebranding effort for crypto. Critics express concerns about wealth centralization, privacy issues, and the potential commodification of online interactions.

For proponents, Web3 stands as a beacon of transformation, a powerful force recalibrating the balance of power between users and creators. Enthusiasts herald its potential to revolutionize digital landscapes, fostering decentralized governance and empowering individuals. In this light, Web3 is more than a technological evolution; it symbolizes a philosophical shift as well.

However, not all perspectives on Web3 are marked by unbridled enthusiasm. Skepticism persists among those who view it as a clever rebranding effort within the broader cryptocurrency landscape. Critics express valid concerns about wealth centralization, apprehensions rooted in the potential consolidation of economic power within select entities. Moreover, privacy issues loom large as the intricate interplay of decentralized technologies raises questions about data protection and user anonymity.

In the discourse surrounding Web3, controversies also surface regarding the potential commodification of online interactions.Detractors argue that the proliferation of non-fungible tokens (NFTs) and play-to-earn models could inadvertently turn the digital realm into a transactional space, overshadowing the organic nature of online engagement. Striking a balance between innovation and ethical considerations becomes paramount to ensure that the positive potential of Web3 is not overshadowed by negative consequences.

Amidst these divergent perspectives, the foundations of Web3 rest on the blockchain, particularly Ethereum, and the smart contract language Solidity. Ethereums programmable blockchain has become the bedrock for a myriad of decentralized applications (DApps), underpinning the functionality of Web3 and enabling the execution of smart contracts that govern interactions within this decentralized landscape.

In navigating the landscape of Web3, it becomes evident that its true essence lies in the balance between innovation and responsibility. Stakeholders must collaboratively address concerns, fostering a space where the promises of decentralization are realized without compromising fundamental values. The journey toward a fully realized Web3 paradigm requires a nuanced understanding, embracing the complexities while striving for a future that aligns with the diverse visions and concerns that define this evolving narrative.

Proponents of Web3 envision a future where users have greater control over their data, transactions, and online interactions. Web3s promises a compelling vision for a future internet, one where users wield unprecedented control over their digital footprint. Advocates of Web3 passionately advocate for a transformative paradigm where individuals can not only safeguard their data but also monetize their online activities, ushering in a new era of economic agency. This promise extends beyond the individual, with some proponents envisioning Web3 platforms as catalysts for democratic governance, reducing dependence on traditional advertising-driven models and nurturing a more private, user-centric internet experience.

The allure of a user-centric internet, however, does not overshadow the nuanced challenges and controversies entwined with the Web3 narrative. The realization of these promises hinges on addressing critical issues, such as the intricacies of data ownership, the intricacies of democratic governance, and the potential unintended consequences of decentralization.

In conclusion, Web3s promise holds the key to reshaping the digital landscape, offering a tantalizing glimpse into a future where users dictate the terms of their online existence. Yet, this vision requires a discerning examination of the hurdles that stand in its path. Through a nuanced exploration of Web3s intricacies, we strive to contribute to a comprehensive understanding of this evolving narrative, shedding light on both the promises and complexities that define the trajectory of the user-centric internet.

Original post:

What is Web3? An introduction for newcomers | by Paul Simroth | Dec, 2023 - Medium

BNPs Strategic Stance: Abstaining from Elections & Emphasizing Decentralization

Majibur Rahaman, the Joint General Secretary of the Bangladesh Nationalist Party (BNP), has announced the partys decision to abstain from the forthcoming city corporation elections. During a recent press conference at the BNP Central Office, Rahaman stated that this move was a strategic choice rather than an indication of weakness. He emphasized the BNPs role as a responsible opposition party, consistently opposing any governmental policies or actions perceived as corrupt or unjust, while avoiding strikes, rallies, or destructive activities.

The BNP, during the press conference, unveiled a 24-point election manifesto that primarily focuses on decentralization. The party plans to upgrade existing divisions into provinces and rename them. New proposed names include Uttar Banga, Barindra, Jahangirnagar, Jalalabad, Jahanabad, Chandradwip, Pahar Maynamoti, and Chattala Province. A core part of this decentralization initiative entails transferring at least 50% of central government departments to these provincial capitals.

This restructuring aligns with the BNPs objective to establish a federal government structure in Bangladesh. This would also involve a complete overhaul of the Election Commission, ensuring it operates as a fully autonomous and impartial entity. Rahaman underlined that the BNPs primary aim has always been to safeguard the peoples interests and instigate positive changes in governance and administrative systems without resorting to disruptive measures.

In stark contrast to the BNPs stance, recent disruptions, including vandalism and arson attacks on the railway during a BNP-Jamaat called blockade, have caused physical harm to citizens and extensive damage to government property. These actions aim to obstruct the upcoming elections and the nations progress. The government and the people of Bangladesh are steadfastly against such acts of violence. They are resolute in preserving peace and continuing the countrys socio-economic development, even in the face of these challenges. A non-cooperation movement, urging people to boycott the upcoming general elections on 7 January, was announced by the BNP Senior Joint Secretary General Ruhul Kabir Rizvi during a virtual press conference.

In conclusion, while political unrest persists in Bangladesh, the BNP continues to emphasize its dedication to positive change and the protection of peoples interests. Despite the decision to abstain from the upcoming city corporation elections, the party remains committed to its strategies, focusing on decentralization and the establishment of a federal government structure. The BNPs stance is a testament to their aspiration for a more democratic and just society, without resorting to disruptive protests or acts of violence.

Excerpt from:

BNP's Election Strategy: Focus on Decentralization & Responsible Opposition - BNN Breaking

"Finish 2023 Strong With 3 Hot Stock Ideas - Practically Free"

Ready for your shot at the next potential 32%, 39% or 45% gains in today's market? You're about to miss Stock Expert Gianni Di Poce's 3 latest stock ideas... Ones that could shift your entire wealth-building journey. If you're ready to end 2023 strong with 12 hot stock ideas every single month. ACT FAST.

Venture capital firm Andreessen Horowitz(a16z) on Fridayreleased its 2024 predictions report, whichfocusedon democratization, user experienceand the integration of artificial intelligence (AI) as the driving forces behind crypto's evolution.

Decentralization Takes the Lead: Miles Jennings, general counsel and head of decentralization, emphasizedthe importance of shifting control away from centralized entities.

Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!

He envisionedmore effective DAOs and innovative decentralization models leading to a more transparent, user-driven ecosystem.

This shift wouldempower users and promote diverse solutions that cater to a wider range of needs.

UX Revolution On The Horizon: Eddy Lazzarin, chief technology officer, predicteda significant improvement in user experience (UX) for crypto.

Passkeys, embedded wallets, and smart accounts are among the advancements that will simplify onboarding and interaction with decentralized applications (dApps).

These advancements aim to make crypto more accessible and intuitive for mainstream users, bridging the gap between Web2 and Web3.

AI And Blockchain Convergence: Andrew Hall and Daren Matsuoka, researchers, sawdecentralized AI as a major development.

Crypto couldempower individuals to contribute to AI training and data, democratizing innovation and making AI safer for users.

Open-source platforms couldencourage ethical development and mitigate risks associated with centralized AI models.

Play And Earn Redefines Gaming: Arianna Simpson, general partner, believed"play to earn" is evolving into "play and earn, shifting the focus from mere earning to creating fun and sustainable game economies.

Players wouldrightfully capture more value they generate within these virtual worlds, transforming the relationship between game platforms and users.

Also Read:Memecoin Madness: Solana Degen Turns $92 Into $1.5M In 16 Days Trading Silly Token, Can You Repeat This Dream?

Massive returns are possible within this market! For a limited time, get access to the Benzinga Insider Report, usually $47/month, for just $0.99! Discover extremely undervalued stock picks before they skyrocket! Time is running out! Act fast and secure your future wealth at this unbelievable discount! Claim Your $0.99 Offer NOW!

AI & Crypto: Guaranteeing Game Integrity: Carra Wu, investing partner, warnedthat AI-powered games require guarantees of fairness and transparency.

Crypto plays a crucial role here, enabling users to understand and verify the game's logic and code, ensuring everyone plays by the same rules.

Formal Verification Simplified: Daniel Reynaud, research engineering partner, introducedaccessible formal verification tools aimed at securing smart contracts.

These tools cater to the unique needs of blockchain development, making code more robust and less vulnerable to costly hacks.

NFTs as Ubiquitous Brand Assets: Scott Duke Kominers, research partner, predicteda surge in NFT adoption by brands.

From loyalty programs to co-creation initiatives, NFTs will become integral to brand identity, customer engagement, and product experiences.

This trend will see NFTs transitioning from niche collectibles to mainstream brand assets.

SNARKs Take Center Stage: Sam Ragsdale, investment engineer, highlightedthe growing prominence of SNARKs, cryptographic tools that verify computations without revealing underlying data.

SNARKs will enable a multitude of innovative applications, from secure edge computing to verifiable media edits and self-auditing forms.

Why It Matters: Andreessen Horowitz painteda picture of a crypto industry embracing decentralization, user-centricity, and AI integration.

These trends have the potential to bring crypto mainstream, empower usersand unlock new possibilities across various sectors.

As innovation continues at a rapid pace, 2024 promises to be another pivotal year for the ever-evolving world of crypto.

Also Read:Hodl Your Horses, Bulls: Matrixport Predicts Bitcoin Stampede Will You Get Trampled Or Triumphant?

Photo: Shutterstock

Ready for your shot at the next potential 32%, 39% or 45% gains in today's market? You're about to miss Stock Expert Gianni Di Poce's 3 latest stock ideas... Ones that could shift your entire wealth-building journey. If you're ready to end 2023 strong with 12 hot stock ideas every single month. ACT FAST.

2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Continued here:

Grandma Wins At Crypto: A16z Reveals Plan To Make Web3 Easier For Everyone - Benzinga

Gnosis Builders, developer of blockchain network Gnosis Chain, has announced a $5 million project to increase the number and diversity of validators through incentive mechanisms. The new project is called Gnosis VIP, according to an April 18 announcement from the company.

As part of the new project, Gnosis is launching a Geographic Diversity Program that seeks to increase the number of countries Gnosis Chain validators are located within.

The network currently has over 100,000 validators spread across 60 countries, and the programs goal is to increase the number of countries to 180 by years end, the announcement said.

According to the programs official webpage, for each of the 90 countries listed, the first ten validators that start operating within them will receive 388 meta Gnosis (worth $1,368.18 at April 12 prices) over the course of six months. Meta Gnosis (mGNO) is the wrapped and staked version of the networks native coin, Gnosis (GNO). Each mGNO can be redeemed for 1/32 GNO.

The first payment of 38 mGNO ($134) will be disbursed after the first 30 days the node operates. The size of the payment will increase each month, and the last payment at the end of the six months will be for 98 mGNO ($345.57).

Related: 1Inch network expands to Gnosis Chain and Avalanche

In an email statement to Cointelegraph, Gnosis CEO Martin Kppelmann expressed hope that the new program will help to improve both the security and performance of Gnosis Chain:

Debates often rage in the crypto community over which networks are the most decentralized, with many experts claiming that a network cannot be scalable, secure, and decentralized at the same time. This conflict in design philosophy is often called the blockchain trilemma.

In his email statement,Kppelmann emphasized that geographical diversity is only one aspect of decentralization, and others are also important to ensure resilience and security.

Read the original:

Gnosis Chain spends $5M on validator incentive program for decentralization - Cointelegraph