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Ethereum co-founder Vitalik Buterin recently shared his thoughts on the potential impact of artificial intelligence (AI) on bug-fixing processes within the cryptocurrency space.

Vitalik Buterin, the co-founder of Ethereum, has been engaging in discussions surrounding the advantages and challenges associated with AI technology. His recent focus has been on the potential transformation AI could bring to bug-fixing mechanisms.

Buterin highlighted the intersection of AI and crypto, emphasizing the role of AI in code verification and bug identification. He believes that AI has the power to revolutionize bug-fixing processes, addressing existing technical risks in platforms like Ethereum.

With the launch of Ethereums Dencun upgrade, Buterin expressed confidence in Verkle trees, aiming to enhance node operations and user experience for solo staking. The upgrade has sparked a price surge in Ethereum, generating renewed interest in the cryptocurrency.

Vitalik Buterins insights on the potential applications of AI in bug-fixing demonstrate his optimism for the future of technology within the crypto space. As Ethereum continues to evolve with upgrades like Dencun, the integration of AI could play a significant role in enhancing operational efficiency and user engagement.

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Title: "Unlocking Ethereum's Future: Vitalik Buterin on AI's Impact" - Geeks World Wide

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Ethereum co-founder Vitalik Buterin broke down four ways that cryptocurrency and artificial intelligence may overlap, finding some potential use cases and noting some corresponding risks.

Buterin examined the use of AI as an actor, as an interface, as the rules themselves, and an end objective in itself in a blog post published Tuesday. He noted that the use of AI as an actor within a protocol had the highest viability, while the use of AI as an interface to a protocol has high potential but carries some risk.

"In general, use cases where the underlying mechanism continues to be designed roughly as before, but the individual players become AIs, allowing the mechanism to effectively operate at a much more micro scale, are the most immediately promising and the easiest to get right," he said.

Buterin noted that the most challenging use of cryptocurrency and AI to get right would be applications that try to create a single, decentralized, trusted AI for other applications to rely on.

"These applications have promise, both for functionality and for improving AI safety in a way that avoids the centralization risks associated with more mainstream approaches to that problem," he said. "But there are also many ways in which the underlying assumptions could fail; hence, it is worth treading carefully, especially when deploying these applications in high-value and high-risk contexts."

Buterin said he is looking forward to seeing more attempts at constructive use cases of AI in each of these four areas to find out which of them works at scale.

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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Vitalik Buterin details four ways cryptocurrency and AI can overlap - The Block

Take a look at the most important crypto events with U.Today's top three news stories.

As has been recently shared by Binance CEO Richard Teng on the X platform, Ethereum cofounder Vitalik Buterinmade a surprising visit to the Binance office. Teng thanked Buterin for finding time to speak to his team in person, saying that it was a privilege to have him in the company's office. This spontaneous visit caused quite a stir in the crypto community, with many users speculating about a potential collaboration between these two giants of the crypto market. As a reminder, Binance is currently struggling with a $4 billion fine and ongoing regulatory challenges; considering this, Buterin's focus (described in his essay entitled "Make Ethereum Cypherpunk Again") on security, privacy and scalability, and concern for centralized exchanges and their vulnerability to hacking, feed rumors about possible cooperation between Buterin and Binance. However, neither Buterin nor Teng made any statements in this regard.

In a recent X post, Shiba Inu team member Lucie sharedShibarium's plans for the future. Lucie wrote that the layer-2 solution aims to "onboard 1,000 projects with numerous partnerships," reminding the community that supporting new projects does not necessarily mean canceling existing ones. The SHIB representative then called on all meme token supporters to stay strong as a community during challenging times, stating that there is hardly any point in giving up now if they got "this far" in their support for the project's team. Lucie's post has evoked mixed reactions among SHIB army members; even though many of them praised the SHIB developers, some users questioned the project team's ability to accomplish anything more than just making plans and promising new advances.

According to Kenneth Worthington, analyst at JPMorgan, the initial enthusiasm surrounding Bitcoin ETFsmay be waning, with a shift toward a "more normalized flow environment" being potentially on the horizon. On Jan. 26, spot Bitcoin ETFs experienced net sales of about $15 million following a four-day streak of redemptions. This reversal could be an indication of changing investor sentiment on these novel financial products. Since their launch, the Bitcoin price has plunged by about 9% but has since stabilized around $42,000 as the new trading week gets underway. Previously, JPMorgan correctly predicted that the approval of Bitcoin ETFs would be a sell-the-news event. Before the approval, the price of the leading cryptocurrency dropped from above $47,000 to below $39,000. The sell-off coincided with large outflows from Grayscales Bitcoin Trust (GBTC), which transitioned into a spot Bitcoin ETF after the SEC's approval.

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Ethereum's Vitalik Buterin Makes Surprising Visit to Binance, SHIB Rep Shares Shibarium's Plans to Onboard ... - U.Today

Could you back up the entireEthereumblockchain onBSV?

The answer is yes, technicallyand any other blockchain you like as well. Last week,mintBlueCIOPieter Den Doovenproved the concept by creating a process that saves a copy of Ethereums on-chain records in BSV transactions. His process saves only new blocks, but he said its also possible to store all the records from Ethereums history if needed.

Does that need to exist? Time will tell, although the topic of totalblockchain size and the amount of dataa blockchain should retain into perpetuity (and how this should be managed) comes up more often as the technology matures. In the meantime, Den Doovens demonstration shows howmuch cheaperit is for BSV to do exactly the same things Ethereum does and secured by the superiorproof-of-work(PoW) consensus mechanism.

Is Ethereum deleting data?

The discussion on backing up the Ethereum blockchain on BSV sprang from discussions involving attorney and former Ethereum advisor Steven Nerayoff. Nerayoff recently made several allegations of insider dealings at Ethereum and other blockchain projects and detailed his early concerns over Ethereums governance structure. His release of conversation recordings from 2015 has been nicknamed ETHgate.

Ethereums roadmap does refer to The Purge, or the clearing of older on-chain data at some point, ostensibly to save space and boost efficiency. Separate from Nerayoffs various claims and others concerning the true motives for wanting to delete Ethereum records,Dr. Craig S. Wrightwas asked about the possibility of storing a backup copy of its data on the BSV blockchain.

Easysync and use thehash header, Dr. Wright replied.

Within 10 minutes, Den Dooven said hed set up a process to do just that, using mintBlues system andWeb3developer platformAlchemy.

GivenBSVs unbounded scaling capacity, the notion of running any (or all) other blockchains on the BSV network has popped up.sCryptfounderXiaohui Liudemonstrated the concept at theGlobal Blockchain Conventionin Dubai in 2022, where he also revealed a transpiler that would convert code written in Ethereums Solidity language into Bitcoin Script.

A new Ethereum block is mined approximately every 10-20 seconds and, on an individual level, isnt large by blockchain standards. Thats still a lot of data, though each block contains information such as transaction data, account balances, contract code and state,decentralized autonomous organization(DAO),non-fungible token(NFT), token data, and verification. While its possible to store accompanying media/document files on-chain, high usage costs and congestion issues usually mean Ethereums token creators store these files off-chain, using on-chain data as a pointer to these files. BSV does not have these issues (other than, for example, large video files, which will likely become more affordable in the future).

CoinGeek spoke to Den Dooven to get more details about what hes doing and why it may be necessary to back up Ethereum and other blockchains. If youd like to know more, read the Q&A below.

Do you know why Vitalik Buterin was supposedly deleting/hiding data from the blockchain?

The Ethereum roadmap includes a stage called The Purge, which is presumably focused on reducing the costs associated with network participation. This is achieved by clearing old history and data from the blockchain. A tweet claimed Vitalik is actually doing this to remove evidence in the face of serious allegations. We can only speculate on the why, but as usual, Ethereums new strategy for data feels like reinventing the wheel, but with square edges. Meanwhile, Bitcoins over there, casually flipping through itswhitepaper, whispering, Psst, check out Section 7; weve been rolling smoothly with round wheels since 09!

Ethereum introduces fixed periodic checkpoints, where the state of the network at these points is agreed upon and considered final. Bitcoin incorporates pruning through itsMerkle Treestructure. This means older transaction data can optionally be removed by choice while keeping the proofs of what happened available. The key difference lies in Ethereums focus on consensus-based checkpoints for network state finality and Bitcoins use of Merkle trees for efficient transaction verification, coupled with the option of pruning to manage blockchain size.

Are you only backing up data from this point forward, and is it possible to also save the entire record from Ethereums history (i.e., from 2015)?

For now, were only backing up data from this point forward. This is just for simplicity. We are not running an Ethereum node and are not really spending any resources on this. However, it is possible to save Ethereums history on BSV. The primary reason for not doing it is the setup time involved. If anyone reading this has an Ethereum node running and wants to sync it to BSV, reach out, and well set it up in no time.

From a technical standpoint, how are you using mintBlue/Alchemy to do this?

Alchemy has a webhook feature that can be configured to be called when certain events on Ethereum happen. In this case, I configured it to call a URL, with the entire block as a payload, whenever a new block is mined. Zapier is then used to collect the requests and forward them to a transaction creation function in mintBlue, resulting in the entire Ethereum block getting published on BSV. Its not a great setup because, technically, Zapier isnt needed for this to work. The only reason to use Zapier was for simplicitys sake. It allowed me to literally set it up in 10 minutes. This showcases the power of these platforms.

A better approach would be to deploy a backend, collecting the Alchemy webhooks and sending them to mintBlue, removing the cost associated with Zapier events. For clarity, the costs associated with publishing the entire Ethereum activity to BSV are about $50 per month. For comparison, $50 allows you to pay for only about 12 Ethereum transactions.

Have you received any expressions of interest from anyone about funding a continuation of the project?

Not really.

What is your approach to handling the massive size of Ethereums blockchain when backing it up on Bitcoin SV?

At mintBlue, we dont consider the Ethereum blockchain size massive at all. Each block is about 250kb, about the size of a PDF file. An entire Ethereum block can thus fit in a singleBSV transaction, resulting in about $0.0002 of transaction fees for an entire block.

FollowCoinGeeks Crypto Crime Cartelseries, which delves into the stream of groupsa fromBitMEXtoBinance,Bitcoin.com,Blockstream,ShapeShift,Coinbase,Ripple,Ethereum, FTXandTetherwho have co-opted the digital asset revolution and turned the industry into a minefield for nave (and even experienced) players in the market.

New to blockchain? Check out CoinGeeks Blockchain for Beginners section, the ultimate resource guide to learn more about blockchain technology.

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Backing up Ethereum on BSV blockchain: A better way to secure blockchain data long-term - CoinGeek