Ripple has announced the development of a new product, the XRPL EVM Sidechain, which will bring Ethereum Virtual Machine (EVM) compatibility to the XRP Ledger (XRPL). This move is expected to unlock new opportunities in decentralized finance (defi) and real-world asset (RWA) tokenization. The sidechain will connect to the XRPL mainnet using a bridge, with […]
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Machine Learning Algorithm Predicts Dogecoin Price For May 2024
As April comes to a bearish close, expectations for Dogecoin in May are not exactly bullish, especially as the crypto market has continued to fall. DOGE has been one of the main losers during this time, falling below .14. This underperformance is expected to continue as the machine learning algorithm at CoinCodex predicts further decline for the meme coin.
Algorithm Predicts Another 13% Decline
Despite the Dogecoin price already suffering a notable 14% decline in the last week, the machine learning algorithm believes it will fall another 13% in the month of May. The machine learning algorithm, which takes a number of metrics into consideration, presented that the DOGE price remains very bearish despite the market still sitting in greed.
For the month of May, the algorithm expects the meme coin’s price to decline by a total of 13.66% from here, falling below .13 to .1238. Even on the shorter term, the Dogecoin price remains bearish with an expected 1% decline to .14 in the next five days.
On the broader timeframe, expectations for the meme coin are not high as the machine learning algorithm does not expect the cryptocurrency to reach a new all-time high until 2029. For the year 2025, it gives the meme coin a yearly high of over .66, which is less than its current all-time high price of .7.
The next two years after this are expected to be bearish as the price is predicted to fluctuate around .126 and .25. Then, a new all-time high price of .4 is expected. If this plays out, then it would mean that Dogecoin investors would have to wait another five years to see new peaks.
Dogecoin Metrics Tell A Different Story
While the machine learning algorithm remains bearish, the Dogecoin metrics have been painting a picture of bullishness. For example, there has been a steady increase in the Dogecoin trading volume, rising 28% in the last day alone. This suggests a return of investor interest and if it translates into demand, it could see the price rise rapidly from here.
There has also been an accumulation trend for the meme coin, especially among whales. One whale, in particular, withdrew 226 million DOGE from the Robinhood exchange in two transactions. Usually, when investors move coins from exchanges to private wallets, it means they are accumulating for better prices. This could signal a turn in the tide.
However, at the time of writing, the Dogecoin price is still struggling at .135, with a 4% drop in the last 24 hours. A reversal from here could see DOGE retest the .15 resistance. But a breakdown could send it back toward .12.
Unveiling ‘Dark Machine’: AAA Mech Themed 7V7 TPS
PRESS RELEASE. Dubai, UAE – April 9th, 2024 – META-X, a Web3 competitive game specific publisher and developer is thrilled to announce the release of “Dark Machine,” a AAA team-based dark mech third-person shooter (TPS) backed by a strong team of Japan’s gaming industry veterans. Dark Machine is a mech themed max 7V7 arena shooter […]
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Crypto Entities That Neglect AI and Machine Learning Investment Will Lag Behind, Warns Binance CTO
Rohit Wad, the chief technology officer (CTO) of Binance said his platform has increased its compliance budget in recent years to ensure it achieves the “highest regulatory compliance standard.” According to Wad, Binance has used a compliance budget, which rose 35% year over year to 3 million, to invest in transaction monitoring, market surveillance, and […]
Bitcoin News
Parallelized Ethereum Virtual Machine Narrative Catching Fire
With the crypto market buzzing about parallelized EVMs, find out whether this trend is just a passing hype or a pivotal development for blockchain technology’s scalability and performance.
Crypto Market Focuses on Emergence of Parallel Execution EVM Projects
One of the hottest parts of the crypto market has been projects featuring parallel execution within their Virtual Machines (VMs), or more specifically, within projects that are compatible with the Ethereum Virtual Machine (EVM). This trend, driven by the promise of enhanced performance and scalability, has led to appreciation in the value of these projects. But what exactly is a parallelized EVM, is it all hype or will it be a cornerstone for the future of blockchain technology?
Parallelized EVMs
No one knows what it means but it sounds provocative https://t.co/ZKCwx8h4Z1 pic.twitter.com/O1re9fq3KT
— Hsaka (@HsakaTrades) December 19, 2023
Understanding Parallel Execution in Computing
Parallel execution, a concept with a long history in high-performance computing, involves running multiple operations or tasks simultaneously across various processors or cores. This method contrasts with the traditional sequential handling of tasks, offering potentially substantial gains in efficiency and throughput. Parallel processing has come to prominence ever since almost all of the CPU processing power improvements have come from increasing the number of cores as opposed to the power of each core. Software that doesn’t take advantage of parallelism loses out on almost all the modern gains in computing.
The Role of Parallel Execution in Blockchain Virtual Machines
Parallel execution in blockchain VMs addresses several key challenges that have constrained their performance and scalability. It can improve scalability by enabling transactions to be processed simultaneously, thereby reducing network congestion and transaction latency. This enhancement also can help in mitigating the high transaction fees (gas fees) typically associated with peak usage times, especially if techniques like local fee markets are implemented. For example, a particularly popular NFT mint might cause gas fees for the entire blockchain to spike as people vie to get their mint transaction included in the next block. However, activity across the rest of the network might be normal. Local fee markets limit the elevated gas fees to those parts with elevated activity.
Additionally, parallel execution allows for the development of more complex and efficient decentralized applications (dApps) by providing greater processing power and faster transaction times. Overall, this technological advancement optimizes computational resources, leading to a more efficient and responsive network, well-equipped to handle a growing user base and increasingly sophisticated applications.
Different Approaches to Parallel Execution
Borrowing terminology from Jon Charbonneau, there are two main methods of implementing parallel execution in blockchain VMs:
- Deterministic Parallel Execution: This method usually entails using predefined access lists to determine which transactions can be processed in parallel, avoiding conflicts and maintaining consistent outcomes. A transaction must declare what parts of the network it will modify. This method adds a level of complexity when creating transactions, which is largely borne by application makers such as wallet clients and DApps.
- Speculative Parallel Execution: This approach speculatively schedules transactions for parallel execution, increasing throughput but also introducing the risk of conflicts that need to be managed. A scheduler will, for example, assume that a transaction will only modify a certain area of the network and schedule it accordingly. This method, while less complete as deterministic execution, is more readily adoptable by currently operating virtual machines such as the Ethereum Virtual Machine (EVM).
The Future of Blockchain Technology
Parallel processing is quickly becoming a standard expectation for new blockchain projects. The growing popularity of parallel processing projects highlights their role in addressing real problems in blockchain scalability and efficiency. As blockchains continue to evolve and integrate into mainstream applications, the ability to process transactions efficiently at scale will be imperative.
These trending parallelized EVM projects aim to solve some of the weaknesses in Ethereum’s network. As such, parallelized EVMs are not just a fleeting trend in the crypto world. They represent a critical step forward in blockchain technology, addressing fundamental challenges in scalability and efficiency. This technological advancement is essential for the future of Ethereum and other blockchains, ensuring they can meet the needs of an expanding and increasingly demanding user base.
Aside from parallel execution, what are the main techniques being used to address blockchain scalability? Share your thoughts and opinions about this subject in the comments section below.
Machine Learning Algorithm Predicts When Cardano Price Will Hit New $6.5 ATH
The machine learning algorithm at CoinCodex has predicted when the Cardano price will reach a new all-time high. The coin which has been performing quite well in the last few weeks is still miles away from its current all-time high of .1. However, the machine learning algorithm has revealed when it will cross this level once more.
Cardano Price Will Hit .5
According to the CoinCodex machine learning algorithm, the Cardano price may be locked into years of performing below its 2021 all-time high prices before finally revisiting It around five years from now. Apparently, while the next few years will see the price jump another 200% from its current price, breaking above .1 will remain elusive.
The year 2024 which is expected to be the start of another crypto bull market will reportedly see ADA only rise as high as .98, falling just short of its previous all-time high. Then in the years 2025 and 2026, its max performance is pegged even lower with .42 in 2025 and .8 in 2026.
The year 2027 is expected to follow the same trend as 2026 with a min value of .5 and a maximum value of .86. However, in 2028, this is expected to completely change to the point where the ADA price will reach a brand-new all-time high.
Cardano’s max price for the year 2028 is said to be .52 by the machine learning algorithm with a minimum price of .73. Then in the following year of 2029, it expects a minimum value of .1 and a max value of .99. Finally, the year 2030 is placed at a minimum of .65 and a maximum of .36.
ADA Sees Bullishness Across The Board
Contrary to the CoinCodex machine learning algorithm saying that the Cardano price will not reach a new all-time high until the year 2028, crypto analysts have come forward with their own bullish predictions. One analyst Psyclops expects the price to climb to amid the rapid growth that is being recorded in the Cardano ecosystem.
Another crypto analyst known as Crypto Crow says that they expect the price to reach . The time frame from this analyst is that they expect this to happen in the next bull market and since the next bull market is expected to take place between 2024 and 2025, it gives it a two-year timeframe.
Finally, crypto analyst Dan Gambardello has predicted that the Cardano price will reach . His reasoning lies with the past performance of the digital asset which has performed very well in each bull market. Gambardello expects that if ADA sticks to historical performance, then the market cap of the altcoin will climb to 0 billion by the year 2025.
Machine Learning Algorithm Predicts 17.66% Rise In Bitcoin Price, Here’s The Target
The machine learning algorithm at CoinCodex has taken a crack at the Bitcoin price and predicted where the asset’s price could be both over the short term and the very long term. If the predictions are anything to go by, then the price of Bitcoin is at one of the lowest points it’ll ever be in the next seven years.
Very Bullish For Bitcoin Price In The Short Term
The predictions from the machine learning algorithm for the Bitcoin price, especially in the short term, are very bullish. These predictions ranging between five days and one month show where the algorithm expects the price to be in these time frames and they are a long way away from the current price levels.
On the 5-day prediction, the machine learning algorithm is showing a rather outrageous price, predicting that the price will rise approximately 50% from here. The 5-day price target is placed at ,661, and taking into account the current Bitcoin price of just under ,200 at the time of this writing, it will mean that BTC would have to jump 49.65% in less than a week.
The prediction on the one-month timeframe is, however, much more realistic at ,760. This translates to a .66% rally taking the current price into account, and an almost ,000 increase in value for the pioneer cryptocurrency.
Looking Over The Long Term Prediction For BTC
On the much longer timeframes, the algorithm shows much more bullishness for Bitcoin. For example, in 2024, which is less than two months away, it predicts that the Bitcoin price will run as high as 9,364, with a yearly low of ,564, which is the lowest it expects the asset’s price to be in the next seven years.
Between the years 2025 and 2026, it expects BTC to peak above 0,000 with a bottom yearly range of ,757. Interestingly, in 2027, the algorithm does not expect much deviation between the yearly low and high, putting the former at ,443 and the latter at ,522.
In 2029, the CoinCodex machine learning algorithm expects the Bitcoin price to finally cross the sought-after 0,000 level. In this year, the yearly low moves up significantly to 6,318 and the yearly high is placed at 5,028.
Fast forward to 2030 and the bullishness is maintained with an expected yearly low of 1,562. The predicted yearly high for 2030 is lower than that of 2029 but still significant at a value of 6,676.
The high figures projected for the Bitcoin price are not without merit as the website identifies that there are more bullish signals flashing now than bearish signals. Out of a total of 30 signals analyzed, 27 were found to be bullish with only 3 bearish signals.
Shiba Inu Price Prediction: Machine Learning Algorithm Reveals December Target
The crypto market has experienced somewhat of a resurgence in recent times. Shiba Inu (SHIB) happens to be one of the altcoins that many seem to have their eyes on during this period. And if the prediction of this machine learning algorithm is anything to go by, it would seem that these SHIB holders are well positioned for more profitable times ahead.
SHIB’s Projected Price By December
According to data from the price prediction algorithm on the crypto analytics platform CoinCodex, SHIB’s price is predicted to hit .000009534 by December 11. Such price action will represent about a 10% increase from its current price.
Meanwhile, the sentiment around the token continues to be bullish, which suggests that many expect the token to rally further despite the impressive gains it has already recorded.
With such a bullish sentiment, CoinCodex’s prediction seems more attainable as the ecosystem could see more whales and retail investors jump in on the token. If that happens, it could further add to the buying pressure, an important metric to determine if SHIB could continue riding on this momentum to attain CoinCodex’s prediction by December.
In line with the bullish sentiment, CoinCodex noted that 24 technical analysis indicators are signaling bullish signals, with only a mere 4 indicators signaling bearish signals. Based on its forecast, the platform predicts that now remains a good time to buy the meme coin despite the impressive gains it has already recorded.
Another important metric that CoinCodex highlighted was the fact Shiba Inu’s RSI value currently stands at around 63.05, indicating that the token is neither oversold nor overbought. As to the exact time to buy the token, investors might be able to take a cue from CoinCodex’s five-day prediction as the platform expects a correction to around .000008008.
The Fundamentals Are Aligning For Shiba Inu
The Shiba Inu ecosystem has continued to record interesting developments that suggest that the fundamentals are as bullish as the charts and technical analysis. Most recently, the SHIB non-custodial wallet was launched in a bid to promote the ecosystem’s vision of a decentralized state and enhance the crypto experience of Shibizens.
Interestingly, the wallet is equipped with certain features that address the fears of using a non-custodial wallet. One of them happens to be a feature that allows users to recover their tokens even if they were to forget their seed phrase. The wallet also integrated Web3Auth to make the user onboarding experience effortless and straightforward.
At the time of writing, SHIB is trading at around .000009465, up by over 14% in the last 24 hours, according to data from CoinMarketCap.
NetMind AI Unveils the Beta Version of Netmind Power For Decentralized Machine Learning
PRESS RELEASE. The AI-focused tech start-up NetMind.AI has launched the Beta version of Netmind Power, a decentralized platform which allows machine learning (ML) researchers and practitioners to train and fine-tune ML models by leveraging a network of volunteer computing resources distributed around the world. The Beta version is free for a limited time and users can now sign up to use the platform.
Limited-Time Free Beta
NetMind Power is a decentralized machine learning platform that, at its core, provides cost-effective and scalable computing power for AI model training by leveraging a vast global network of idle GPUs, such as those leftover from Proof-of-Work cryptocurrency mining. Anyone owning one or more GPUs can connect them to the network and earn a reward while doing so. As such, the platform connects providers of idle computing power with researchers and engineers looking for a low-cost solution to their ML training needs, removing the need for in-house infrastructure investments or to rely on expensive hyperscalers such as AWS EC2.
The BETA launch provides AI and machine learning engineers a chance to familiarize themselves with the platform without financial commitment.
Users implement some minor changes to their training code with a proprietary python library built by NetMind.AI, the platform then abstracts a layer of complexity and is capable of automatically applying data parallelism and model parallelism to train models across multiple distributed machines, resulting in faster training times and the possibility to train large language models at a very low cost.
Who Can Utilize the Beta?
Anyone interested in training or fine-tuning machine learning models is welcome to join the Beta, from large companies to small research labs or individuals. For those who choose to be early adopters, the Beta offers the opportunity to experience the platform’s suite of AI modeling tools free of charge for a limited time, making it an invaluable resource for AI engineers.
NetMind Token: AI and Web3 come together
The NetMind Power platform is underpinned by blockchain technology. Upon full general release, NetMind Token (NMT) is set to stand as a pillar of the NetMind ecosystem. The token is set to have multifaceted functionality, acting as the utility token for the entire NetMind platform, where it will serve three primary functions:
Medium of Exchange: Within the NetMind ecosystem, NMT will facilitate transactions, allowing users to access services, trade computational resources, and more. Users will use NMT to pay for model training and inference services, and Volunteer Computing providers will be rewarded with NMT.
Governance: Holders of NMT will have the ability to participate in the governance of the platform, influencing decisions, proposing changes, and voting on key operational aspects. This decentralized approach is designed to ensure that the platform remains adaptive, transparent, and truly community-driven.
Reward Mechanism: Recognizing the contributions of its users, NetMind has instituted NMT as a reward. Crypto miners offering their idle GPUs are rewarded with NMT, encouraging active participation within the community.
Signing Up
For those eager to explore the available features of the NetMind Power platform, the Beta is currently live, and applications are being accepted. By signing up now, early adopters stand to experience the platform’s capabilities free of charge for a limited time.
Create an account and register for the Beta here.
This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
Microbt Plans to Launch Next-Gen Bitcoin Mining Machine With 1X Efficiency Rating
On September 19, 2023, Microbt, the manufacturer of bitcoin (BTC) application-specific integrated circuit (ASIC) mining rigs, revealed its intentions to introduce an innovative mining machine with an efficiency rating of 1X joules per terahash (J/T). This announcement from Microbt closely follows Canaan’s recent release of the A1466I, which also claims an efficiency rating of 1X J/T or approximately 19.5 J/T. Meanwhile, Bitmain is gearing up to launch a new series later this week, anticipated to align closely with this efficiency benchmark.
Microbt Set to Debut New Bitcoin Mining Rig Series
Shortly before Bitmain’s planned announcement of the new S21 Antminer series and following Canaan’s release of two new Avalon mining rigs, Microbt, a key competitor, unveiled their latest offering: the new M60 series BTC miners.
While Microbt already provides a mining rig (M53S++) capable of delivering 320 terahash per second (TH/s), it maintains an efficiency rating of approximately 22 J/T. Luxor and the team at hashrateindex.com reported that Microbt “overclocked this model to a mind-blowing hashrate of over 360TH/s.”
However, in Microbt’s Tuesday announcement, specific details regarding the hashrate output of the new M60 series were not provided. The statement specifies that the new M60 series will be unveiled on October 24, 2023, during the Blockchain Life 2023 event in Dubai.
The only detail provided about the M60 series is that it will include a rig with an efficiency rating of 1X J/T. In addition to this announcement, on September 5, Microbt revealed an autumn sale for earlier-generation mining rigs, running until September 28.
Towards the end of this week, on September 22 to 23, Bitmain is set to launch its Antminer S21 line at the 2023 World Digital Mining Summit (WDMS). The S21 series will also feature a miner with an efficiency rating of 1X J/T.
What do you think about Microbt’s plans to launch a new bitcoin miner with an efficiency rating of 1X J/T? Share your thoughts and opinions about this subject in the comments section below.