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Rise of Ethereum staking came at cost of higher centralization JPMorgan – Cointelegraph

October 6, 2023 | Author: admin

The rise of Ethereum staking since major network upgrades, the Merge and Shanghai, has come at the cost of higher centralization and lower staking yields, a new report by JPMorgan said.

JPMorgan analysts, led by senior managing director Nikolaos Panigirtzoglou, issued a new investor note on Oct. 5, warning about the risks stemming from Ethereums growing centralization.

The top five liquid staking providers: Lido, Coinbase, Figment, Binance and Kraken, control over 50% of staking on the Ethereum network, JPMorgan analysts noted in the report, adding that Lido alone accounts for almost one-third.

The analysts mentioned that the crypto community has seen the decentralized liquid staking platform Lido as a better alternative to centralized staking platforms associated with centralized exchanges like Coinbase or Binance. However, in practice, even decentralized liquid staking platforms involve a high degree of centralization, JPMorgans report said, adding that a single Lido node operator accounts for more than 7,000 validator sets or 230,000 Ether (ETH).

These node operators get selected by Lidos decentralized autonomous organization (DAO), which is controlled by a few wallet addresses, making Lidos platform rather centralized in its decision making, the analysts wrote. The report mentioned a case when Lidos DAO rejected a proposal to cap the staking share at 22% of Ethereums overall staking to avoid centralization.

Lido didnt participate in the initiatives as its DAO rejected the proposal by an overwhelming majority of 99%, JPMorgan analysts wrote, adding:

Apart from higher centralization, post-Merge Ethereum is also associated with an overall staking yield decline, JPMorgan noted. The standard block rewards declined from 4.3% before the Shanghai upgrade to 3.5% currently, the analysts wrote. The total staking yield has declined from 7.3% before the Shanghai upgrade to around 5.5% currently, the report added.

Related: Time to pull the brakes on Ethereum and rotate back to Bitcoin: K33 report

JPMorgan analysts arent the only Ethereum observers who have noticed a significant increase in network centralization following the Merge upgrade. Executed on Sept. 15, 2022, the Merge has been seen as a major impediment to Ethereums decentralization and a major reason for dropping yields.

Ethereum co-founder Vitalik Buterin has admitted that node centralization is one of Ethereums main challenges. In September 2023, he said that finding a perfect solution to handle this problemmay take another 20 years.

Magazine: Blockchain detectives Mt. Gox collapse saw birth of Chainalysis

Ethereum’s Vitalik Buterin Warns of Risks in Lido and Rocket Pool – Unchained

October 6, 2023 | Author: admin

One layer of defense may not be enough to combat the centralization risks present in some ETH staking pool operators, said the Ethereum cofounder.

Photo by Choong Deng Xiang on Unsplash

Posted October 2, 2023 at 3:50 am EST.

Ethereum cofounder Vitalik Buterin raised concerns over the underlying mechanisms running on major ETH staking pool providers Lido and Rocket Pool.

Lido and Rocket Pool are the two largest liquid ETH staking pools by market share, allowing users to participate in staking ETH, earning rewards, without having to lock their funds in the staking smart contract.

In a Sept. 30 blog post, Buterin said that both Lidos model of having its decentralized autonomous organization (DAO) whitelist node operators and Rocket Pools model of having users put down 8 ETH to run a node had different issues.

Lido offers users a derivative token called staked ETH or stETH to represent the value of the amount staked, while Rocket Pool allows users to stake ETH by running a permissionless node.

Rocket Pools approach would allow malicious actors to 51% attack the network, forcing users to pay most of the costs, said Buterin. Meanwhile, Lidos DAO approach would create a scenario of potentially attactable governance gadget controlling a large portion of Ethereums validtors if a single staking token dominates.

To the credit of protocols like Lido, they have implemented safeguards against this, but one layer of defense may not be enough, said Buterin.

He proposed encouraging ecosystem participants to diversify to different staking pool operators as a short-term solution to the prospect of one provider becoming too large, and thereby, a system risk to the blockchain.

Another solution would be enshrining features at a protocol level to curtail the effects of centralization in other areas. In his view, minimal viable enshrinement could be the middle ground that addresses these challenges without being too narrowly focused.

Rather than enshrining a full liquid staking system, changing staking penalty rules to make trustless liquid staking more viable, said Buterin, as one example of how this could be carried out.

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Ethereum Price Prediction 2023 – Watcher Guru

October 6, 2023 | Author: admin

Ethereum Price Prediction 2023: A Comprehensive Analysis of the Crypto Market

The crypto market has been an exciting space for investors and traders alike, with numerous cryptocurrencies vying for attention.

One such cryptocurrency that has stood out is Ethereum (ETH). Ethereum is not just a digital currency; it is a blockchain platform that enables the creation of decentralized applications (dApps) and smart contracts.

With its innovative technology and widespread adoption, Ethereum has become the second-largest cryptocurrency by market capitalization.

In this article, we will delve into the world of Ethereum and analyze its price predictions for 2023.

We will explore the factors that influence Ethereums price, the historical performance of the cryptocurrency, and expert opinions on its future trajectory.

So, if youre curious about the potential of Ethereum and its place in the crypto market, keep reading!

Also read: Fidelity: Ethereum Drawing Investment Interest Alongside Bitcoin

Ethereum was launched in 2015 by Vitalik Buterin as a decentralized, open-source blockchain platform.

It introduced the concept of smart contracts, which are self-executing contracts with predefined rules and conditions. These smart contracts eliminate the need for intermediaries, making transactions more efficient and secure.

It operates on its native cryptocurrency, Ether (ETH), used to pay for transaction fees and computational services on the network.

Ethereum has revolutionized the blockchain industry with its wide range of functionalities. Lets explore some of the key features that set Ethereum apart:

Ethereums smart contracts allow for the creation of decentralized applications (dApps) and the execution of programmable transactions without intermediaries.

This feature has opened up a world of possibilities for developers and businesses, enabling them to build innovative solutions on the Ethereum blockchain.

Non-fungible tokens (NFTs) have gained immense popularity recently, and Ethereum has played a significant role in their rise. NFTs are unique digital assets representing ownership of digital or physical items.

Ethereums ERC-721 and ERC-1155 standards have become the industry standard for creating and trading NFTs.

Ethereum has become the go-to platform for developing decentralized applications.

These dApps operate on the Ethereum blockchain and offer various services, including decentralized finance (DeFi), gaming, and social networking. The Ethereum networks flexibility and security make it an ideal choice for developers leveraging blockchain technology.

Decentralized finance, or DeFi, is an ecosystem of financial applications built on blockchain technology.

Ethereum has played a pivotal role in the growth of DeFi, providing a platform for decentralized lending, borrowing, trading, and more. The rise of DeFi has brought significant attention and value to the Ethereum network.

Ethereum is undergoing a major upgrade known as the Merge. This upgrade will transition Ethereum from a proof-of-work (PoW) consensus mechanism to a more energy-efficient proof-of-stake (PoS) mechanism.

The Merge will improve scalability, security, and sustainability, making Ethereum even more attractive for developers and users.

Ethereum has undergone several hard forks to improve its functionality and address issues.

The Shanghai (Shapella) upgrade was the first hard fork of Ethereum, which introduced various improvements, including enhanced security and performance. These upgrades ensure that Ethereum remains a robust and reliable blockchain platform.

Now, lets dive into the Ethereum price predictions for 2023. We will explore forecasts from various experts and platforms to gain insights into Ethereums potential performance.

Its important to note that these predictions are based on historical data and market trends and should not be considered financial advice.

Here are some notable Ethereum price predictions for 2023:

Finder expects Ethereum to show steady growth throughout the year, driven by its strong fundamentals and growing adoption.

The platform expects Ethereum to maintain an upward trajectory, driven by its technological advancements and the increasing interest in decentralized applications.

The platform expects Ethereum to benefit from the growing interest in blockchain technology and decentralized finance (DeFi) application development.

The platform expects Ethereum to experience gradual growth, driven by its strong community and the increasing adoption of blockchain technology.

The platform expects Ethereum to continue its upward trend, driven by its strong fundamentals and the increasing demand for decentralized applications.

Its important to remember that these predictions are speculative and are subject to market volatility and external factors.

Investors should conduct their research and consider multiple factors before making any investment decisions.

Beyond 2023, experts have varying opinions on Ethereums long-term price trajectory. Here are some insights into Ethereums potential performance in the coming years:

The implementation of Ethereum 2.0 and the continued development of the Ethereum ecosystem are expected to drive its price upwards.

The increasing adoption of decentralized finance (DeFi) and the growth of the Ethereum network are expected to contribute to its value.

The scalability improvements brought by Ethereum 2.0 and the continued development of decentralized applications are expected to drive Ethereums value in future years.

Ethereum price predictions for 2025 vary, but many experts believe that Ethereum could reach [Price Prediction 2025 Optimistic High] USD or surpass its previous all-time high.

The growth of decentralized finance (DeFi) and the increasing adoption of Ethereums blockchain technology are key factors driving these predictions.

Predicting the exact price of Ethereum in 2030 is challenging due to the volatile nature of the crypto market. However, some experts speculate that Ethereum could reach [Price Prediction 2030 Optimistic High] USD or potentially higher, driven by the growth of decentralized applications and the increasing demand for blockchain technology.

While its difficult to predict the exact price of Ethereum, reaching $20,000 is within the realm of possibility.

However, it would require significant market developments, widespread adoption, and positive investor sentiment.

Ethereums historical performance and its position as a leading blockchain platform make such a milestone feasible in the long term.

The likelihood of Ethereum crashing to zero is extremely low.

Ethereum has established itself as a robust and innovative blockchain platform with a strong community and widespread adoption.

While market fluctuations and regulatory changes can impact its price, the fundamental value and utility of Ethereum make a complete crash highly unlikely.

While Ethereum has gained significant traction and has become the second-largest cryptocurrency by market capitalization, overtaking Bitcoin in market dominance is challenging.

Bitcoin holds a unique position in the crypto market as the first and most well-known cryptocurrency.

However, Ethereums innovative technology and growing ecosystem position it as a strong competitor to Bitcoin.

Investing in Ethereum or any cryptocurrency carries inherent risks, and its essential to conduct thorough research and consider your risk tolerance before making any investment decisions.

Furthermore, while Ethereum has shown promising growth and has a strong track record, the crypto market is highly volatile. Its advisable to consult with a financial advisor or do your due diligence before investing in Ethereum or any other cryptocurrency.

Predicting whether Ethereum will reach $100,000 is speculative and depends on various factors, including market conditions, technological advancements, and investor sentiment.

While its challenging to predict the exact price trajectory, Ethereums potential for growth, driven by its innovative technology and widespread adoption, makes such a milestone within the realm of possibility in the long term.

Predicting the exact price of Ethereum 20 years into the future is highly speculative.

Ethereums history, tech progress, and blockchain adoption suggest its value might soar in 20 years.

Furthermore, the long-term potential of Ethereum makes it an exciting asset to watch in the coming decades.

Predicting Ethereums 2050 price is tough. As the crypto market evolves, external factors remain unpredictable.

Ethereum is a top blockchain with growing dApps. It could surpass its current value in 2050.

Ethereums ecosystem expands, and the crypto market growsboth boost long-term price.

In conclusion, approach Ethereum price predictions for 2023 and beyond cautiouslytheyre speculative, not guarantees.

The crypto market is highly volatile, and various factors can influence the price of Ethereum.

However, Ethereums strong fundamentals, innovative technology, and growing ecosystem make it an intriguing cryptocurrency to watch.

Whether youre considering investing in Ethereum or simply interested in its potential trajectory, staying informed about market trends, technological advancements, and expert opinions can help you make more informed decisions.

Remember to conduct thorough research, consult with financial professionals, and always invest within your risk tolerance.

Furthermore, the future of Ethereum and the crypto market as a whole is filled with possibilities and uncertainties.

As the crypto market continues to evolve, Ethereums role as a leading blockchain platform is expected to grow, and its price may reflect its increasing value.

So, keep an eye on Ethereum and stay tuned for the latest developments in the exciting world of cryptocurrencies!

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Crypto Drug Cartel Ties: On-chain Investigator Drags Ethereum Into The Mess – NewsBTC

October 6, 2023 | Author: admin

An on-chain crypto investigator took to social media to expose the supposed black truth behind Justin Suns Tron but has thrown Ethereum in the mix, alleging that the cryptocurrency is backed by the CCP and may harbor crypto wallet addresses by Fentanyl traffickers.

An X (formerly Twitter) user going by the username @BoringSleuth has gained the attention of the crypto community after uncovering potential evidence of Tron allegedly being a Ponzi scheme governed by one of the worlds largest crypto criminal drug cartels.

I showed and told the World that Tron $TRX was a massive Ponzi, run by a part of the largest criminal Cartel in the World, and connected to the CCP, BoringSleuth said.

BoringSleuth disclosed that the United States Department of Justice (DOJ) has sanctioned eight Chinese Communist Party (CCP) companies for allegedly operating a clandestine drug production and distribution sales network around Fentanyl.

The crypto investigator revealed that more than half of the wallets owned by these companies were traced back to Tron and the remainder allegedly being on the Ethereum blockchain.

After analyzing the original sales of the TRX token, BoringSleuth stated that he had reviewed the top 20 cryptocurrency wallets in Trons original token sale list to decipher the owners of the wallets and how much TRX supply these wallets have acquired.

According to the investigator, out of the 20 wallets, 17 were created and owned by the infamous criminal organization disguised to represent genuine investors. He revealed that the criminal organization was connected to the CCP, and 98% of Trons total token supply was received by these 17 wallets.

The on-chain investigator also mentioned that cryptocurrency exchanges like Huobi Global, and cryptocurrencies like Shiba Inu may also be linked to the CCP and Wanxiang, a Chinese multinational conglomerate and the team that funded Ethereum Foundation wallets and Ethereums Founder, Vitalik Buterin.

The crypto industry has experienced a series of Ponzi schemes and rug pulls for years now, causing investors and regulators to be wary of crypto exchanges and organizations in the space.

While Tron is faced with speculations of being a well-orchestrated Ponzi scheme and having connections with the CCP, the revelation that Ethereum, the worlds second-largest cryptocurrency may be backed by the CCP and connected to companies involved in drug trafficking has left the crypto community in a paradox.

According to BoringSleuth, the CCP is allegedly supporting Ethereum and other blockchains as well as multiple Decentralized Exchanges (DEX) and Centralized Exchanges (CEX) in the crypto space.

The crypto investigator utilized a previous transaction that saw the CCP receiving 133,700 ether on a single Genesis Block address owned by the party, as a reference to a connection between Ethereum and the CCP.

BoringSleuth has also stated a potential connection between Ethereums Founders and the CCP, which he said he would be revealing in detail soon.

The allegations faced by Tron and Ethereum come amid the increasing scrutiny of Chinas role in the cryptocurrency landscape. Although the crypto X community is presently reeling from the on-chain investigators hypothesis, no concrete evidence linking Ethereum to the CCP has emerged, leaving the allegations in the realm of speculation.

Featured image from Medium, chart from Tradingview.com

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Vitalik’s Four Lessons on the Future of Ethereum – CryptoTvplus

October 6, 2023 | Author: admin

Vitalik Buterin has cautioned the Web3 community, especially those focused on Ethereum, on the future of the blockchain he co-founded.

Ethereum is a decentralized global software platform often referred to as the worlds programmable blockchain. It positions itself as an electronic, programmable network with a built-in Turing-complete programming language.

Thanks to its programmability, numerous applications worth billions of dollars have been built on the platform. As a result, the protocol has undergone several evolutions, implementing a series of proposals.

On the flip side, there has been a surge of curiosity surrounding integrating features like privacy, advanced cryptography, account safety, censorship resistance, frontrunning protection, and more into the core protocol.

To approach this aspect carefully, Vitalik imparted four fundamental lessons that should shape the inclusion of additional utilities within the layer one blockchain.

According to Vitalik, embedding certain features outside the Ethereum core offers the advantage of minimizing the likelihood of centralization. Simplifying the base protocol allows for increased flexibility.

Nonetheless, he cautioned about the potential risks of centralization within the external ecosystem, often due to elevated fixed costs. Despite these risks, it remains beneficial in reducing de facto centralization.

Another lesson pointed out by the co-founder is that when too much is added to the Ethereum core, there is a likelihood that it will be overwhelmed due to overload.

The effect of this is that trust and governance of the protocol can be affected, potentially weakening Ethereums credibility.

The third reflection of Vitalik is that when too much is given to the Ethereum core, it can also result in a more complex protocol. Protocol complexity is a systemic risk, and adding too many features in-protocol increases that risk, he said.

He provided an example of how the implementation of Precompiles on the Ethereum blockchain has fallen short of expected usefulness over the years. Precompiles are contracts implemented on the Ethereum blockchain via client code, instead of EVM smart contract code.

Client code refers to the code running on Ethereum clients or nodes, which are software implementations that interact with the Ethereum blockchain. They are mostly written in programming languages like JavaScript, Python, or Go.

EVM (Ethereum Virtual Machine) smart contract code, on the other hand, is the code that defines the behavior of smart contracts on the Ethereum blockchain. EVM smart contract code is written in Solidity or other programming languages that can be compiled into bytecode

Vitalik also added that the reason behind treading cautiously on the Ethereum core is that enshrined features may not align with users actual needs, which can change over time, potentially becoming underutilized.

Vitalik suggested a middle road, where the protocol enshrines specific pieces to address key challenges without being overly opinionated.

Ultimately, he said that the debate over what to enshrine in the protocol and what to leave to other layers will continue to evolve as the blockchain ecosystem advances and user needs become clearer.

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Friend.tech Users Lose $385K in Ether to SIM-Swap Scammer – Blockchain.News

October 6, 2023 | Author: admin

On October 5, 2023, a blockchain investigator by the name of ZachXBT stated that a single scammerhad stolen 234 ETH, which is roughly comparable to $385,000, from four customers of Friend.tech over the course of a single day. A SIM-swap assault was carried out by the con artist in order to acquire unauthorised access to the accounts of the victims. It was determined that the same hacker who had drained the accounts of the four victims was responsible for the theft of the assets.

One of the victims, who goes by the Twitter handle "KingMgugga," reported the incident while it was happening in real time, saying that they were "getting f---ing sim swapped watching it happen." Another user who goes by the name "holycryptoroni" stated that they had a similar experience by adding, "I got swapped sorry." In the early part of this week, four more customers of Friend.tech reported losing a combined total of around 109 ETH as a result of SIM-swap or phishing attempts.

It has been brought to people's attention that the website Friend.tech, which is a platform that enables users to buy "keys" for access to private chat rooms, does not have very solid security measures. A company that specialises in ecosystem tools called Manifold Trading projected that twenty million dollars out of Friend.tech's total worth of fifty million dollars locked might be at danger. The company strongly suggested that Friend.tech use two-factor authentication (2FA) in order to beef up the account's level of protection.

The incident has also revived demands for Twitter to adopt two-factor authentication (2FA) security measures. This is particularly the case following the high-profile SIM-swap hack that occurred in September on the account of Ethereum co-founder Vitalik Buterin. Users are encouraged to delete their phone numbers from their social media profiles by "0xfoobar," who is the founder and CEO of wallet security company Delegate. This is done in order to reduce potential hazards.

The Friend.tech incident comes amid growing concerns about the vulnerability of two-factor authentication (2FA) systems to SIM-swap attacks. On April 27, 2023, a report by Blockchain.News highlighted that a recent update to Google's Authenticator app, which stores one-time codes in cloud storage, has raised security questions. The update makes users susceptible to SIM-swap attacks, where scammers can trick telecom operators into associating a victim's phone number with their own SIM card. If a hacker gains access to the user's Google password, they could compromise all authenticator-linked applications.

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Shiba Inu: Here’s When SHIB Could Reach $0.0001 – Watcher Guru

October 6, 2023 | Author: admin

Shiba Inu (SHIB) investors have long targeted a price of $0.01, commonly known as the one cent dream. However, before reaching one cent, the popular dog-themed memecoin would have to delete a few zeros and reach the $0.0001 level. According to a few forecasts, this might take longer than many expect.

According to the analysis by Gov.capital, Shiba Inu (SHIB) will not reach $0.0001 anytime before October 2027, i.e. four years from now. Reaching $0.0001 represents a growth of about 1288.6%.

Also Read: Shiba Inu: Can SHIBs Secret AI Venture Push its Price to $0.01?

Changelly, on the other hand, predicts that SHIB will attain a price of $0.0001 by the year 2029, six years from now. Moreover, the firm predicts that SHIB will reach a price of $0.0002 by 2032.

SHIB had a meteoric rise in 2021, growing by many thousand percentage points. However, one of the biggest drivers was Vitalik Buterin, the co-founder of Ethereum, burning almost half of SHIBs entire supply. Buterin received half the token supply when it launched in August 2020. However, he decided to burn 90% of it and donate the rest to charity. If the SHIB team is able to carry out another burn of such a magnitude, it would greatly help in pushing the assets price. The team is working on a new burn mechanism that can reportedly destroy trillions of tokens every year.

Also Read: Shiba Inu: How Much to Invest to be a Millionaire if it Hits $0.01?

However, as pointed out by Shiba Inu (SHIB) lead developer, burns alone will not drive up the assets price. Burns have to be met with increased demand. In order to increase demand, the team is working on several real-world use cases for SHIB. The project launched its Shibarium layer-2 blockchain in August this year, which would allow developers to build on SHIB. This may drive up demand eventually.

At press time, SHIB was trading at $0.00000720, down by 0.4% in the last 24 hours.

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Shiba Inu: Here's When SHIB Could Reach $0.0001 - Watcher Guru

THORSwap Crypto Exchange Takes Drastic Action To Thwart Illicit … – Investing.com UK

October 6, 2023 | Author: admin

Benzinga - THORSwap, a decentralized exchange built on the THORChain (CRYPTO: RUNE) platform, revealed concerns regarding the potential movement of illicit funds through its platform.

The exchange, in a statement issued Friday, said it always maintained a strong stance against any form of criminal activity and had taken immediate action in light of these concerns.

As the digital asset industry continues to evolve, the importance of security and transparency becomes paramount. This sentiment is echoed by many industry experts and will be a focal point at the upcoming Benzinga's Future of Digital Assets conference on Nov. 14, where leading voices in the crypto space will discuss challenges and solutions in the rapidly changing landscape.

Also Read: Vitalik Buterin Hints At Major Changes For Ethereum, Especially Staking

In response to the pressing issue, THORSwap, after evaluation and consultation with advisors, legal teams and law enforcement agencies, has decided to "temporarily transition" its interface into maintenance mode.

The measure was aimed at halting any further potential illicit activities and ensuring the safety and integrity of the platform and its users.

Also Read: Bitcoin To $20K, Ethereum To $1K? Prominent Venture Capitalist Predicts Market Bottom

While specific details regarding the situation remain undisclosed, THORSwap assured its community every effort was being made to address the issue and restore normal operations.

The person or group responsible for questionable transactions from the failed cryptocurrency platform FTX, often referred to as the "FTX cybercriminal," moved 22,500 Ethereum (CRYPTO: ETH), valued at $38 million, in the past week, as per blockchain experts Lookonchain.

The party involved exchanged Ethereum for Bitcoin (CRYPTO: BTC) using THORChain and Railgun, with a total of over 163,000 Ethereum, valued at $275 million stored in multiple wallets.

Read Next: Prosecutors Target FTX Founder Bankman-Fried's Luxury Jets In DOJ Forfeiture Action

Meet and engage with transformative Digital Asset and Crypto business leaders and investors at Benzinga's exclusive event: Future of Digital Assets. Tickets are flying: Get yours!

Photo: Shutterstock

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How Databases and Data Mining are Reshaping Healthcare – TechiExpert.com

October 6, 2023 | Author: admin

In the dynamic realm of modern healthcare, a digital revolution is reshaping how medical information is collected, analyzed, and utilized. Amid this transformation, data mining takes center stage, employing intricate algorithms to unveil hidden patterns within vast datasets, bolstered by the role of databases that store and feed information. This synergy empowers informed decision-making and proactive disease detection, while database technology serves as the foundation for efficient data management and navigation. The fusion of data mining and databases stands to pioneer groundbreaking advancements in medical research and informed healthcare decisions, propelling the industry into an era of data-driven discovery and improved patient outcomes.

Data mining, a sophisticated facet of information processing, has assumed a pivotal role within the vast landscape of medical data analysis. This technology, underpinned by complex algorithms and statistical techniques, has the remarkable ability to unveil subtle patterns and profound insights concealed within colossal datasets. The data mining process is a structured progression comprising several interconnected phases. Initially, data is meticulously prepared, cleansed, and transformed to ensure its quality and suitability for analysis. Subsequently, the mining phase commences, wherein algorithms meticulously traverse the data terrain, identifying correlations, trends, and anomalies that might elude human scrutiny. This analytical choreography ultimately seeks to distill valuable knowledge, previously buried under the sheer volume and complexity of the information.

It is important to note that data mining is not solitary. It thrives alongside its steadfast partner, the database. The database serves as the repository where data is stored and organized, forming the foundation for mining operations. Acting as the primary source, it fuels the mining process with information, ultimately turned into actionable insights. This synergy underscores the link between adept data management and fruitful data analysis. The seamless interplay of data mining and databases yields advantages in healthcare decision-making, early ailment spotting, and enhanced patient care, highlighting the dynamic prospects of this interdisciplinary data approach.

At the heart of this revolutionary expedition lies database technology, a multifaceted domain within software science that serves as the bedrock of efficient data management and utilization. Through an exploration of database architecture, storage mechanisms, design principles, and real-world applications, this technology equips us with the tools to navigate the vast expanse of available information. By harnessing the symbiotic relationship between data mining and database technology, the prospect of groundbreaking advancements in the medical realm comes to the fore, as clinical researchers embark on a journey to unveil hitherto concealed revelations nestled within intricate datasets. This powerful collaboration enables the extraction of intricate patterns, correlations, and predictive insights, fueling a more informed and proactive approach to healthcare decision-making.

Amidst the expanding data landscape, the fusion of data mining and database technology emerges as a dynamic catalyst for medical innovation. This synergy empowers scientists and healthcare professionals to explore patient records, genomic sequences, and diagnostic data, unearthing insights that can reshape disease understanding, treatment approaches, and patient outcomes. By capitalizing on data minings analytical capacity and the structured organization of databases, the complex fabric of medical information becomes more manageable, enabling us to navigate modern healthcare challenges with enhanced precision. This transformative journey is set to redefine medical research and practice, ushering in an era of data-driven discovery and elevated healthcare standards.

The ascent of big data unfolds as a dynamic force that holds transformative potential across healthcare domains. The burgeoning data influx empowers medical researchers, clinicians, and educators to glean unprecedented insights from diverse sourcesranging from electronic health records and genetic sequences to real-time patient monitoring data and clinical trial results. This influx not only revolutionizes diagnosis accuracy, personalized treatment strategies, and disease prevention initiatives, but also propels medical education into an era of interactive learning fueled by real-world patient data. Yet, as the big data resurgence beckons, it demands innovative approaches to data storage, security, analysis, and ethical considerations, underscoring the imperative of adapting healthcare practices to leverage this tidal wave of information for the collective benefit of patients, practitioners, and the broader medical community.

Within the healthcare domain, data has become a precious resource. Medical institutions grapple with mounting data generated daily. Electronic health records, administrative claims, and biometric data are but a fraction of the data treasure trove. To unlock its true potential, medical institutions worldwide are integrating diverse medical information systems, setting the stage for a holistic understanding of patient health and treatment outcomes.

Medical data possesses unique characteristics that distinguish it from other fields. Gathering medical data can be intricate, often relying on structured protocols and domain expertise for accurate interpretation. Yet, amidst this complexity lies unparalleled potential. The convergence of data mining and database technology equips medical researchers to unveil latent patterns and relationships that influence diagnosis, treatment, and patient outcomes.

The fusion of medical databases and data mining technology promises to reshape healthcare dynamics. This amalgamation facilitates remote collaboration, propels precision medicine, and transforms the healthcare management landscape. As we move ahead this data-driven journey, we stand at the crossroads of transformative changea change that is set to permeate medical research, education, and practice. Insights gleaned from data will illuminate the path toward improved healthcare outcomes, ushering in a future where every patients journey is guided by data-driven precision.

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Book Review: The Hank Show, by McKenzie Funk – The New York Times

October 6, 2023 | Author: admin

THE HANK SHOW: How a House-Painting, Drug-Running DEA Informant Built the Machine That Rules Our Lives, by McKenzie Funk

If there was a Mount Rushmore of the architects of the modern panopticon state, it might be composed of Metas Mark Zuckerberg, the Palantir head Peter Thiel, and Hoan Ton-That, founder of Clearview AI. But perhaps there should be a fourth, more chiseled visage up there, one you probably dont recognize: that of Hank Asher.

Like another tech mogul whos the subject of a recent biography, Asher had an abusive childhood, treated women in his life poorly, was prone to dark moods and explosive management, and had a highly gifted technical mind. Both reportedly met with Rudy Giuliani to potentially hire him as a consultant and lobbyist after his mayoral stint (Elon Musk was repulsed by Giulianis demeanor; Asher happily retained his services).

But Asher, who died in 2013, is a little-known figure in technology although the legacy of the data broker industry he started potentially has as much impact on our lives as the work of Silicon Valley household names.

Data brokers hoover up massive amounts of personal data public records, credit card transactions, social media, geolocation data and then synthesize it for their clients to use for things like advertising, risk assessment for insurance, or even law enforcement.

Over the course of three decades Asher, an eccentric former condo painter, would run three separate companies all of which did exactly this. In the process, he would become something of a Forrest Gump of the field. The Hank Show, by McKenzie Funk, a reporter at ProPublica, traces the origins of the industry from its inception a small-use case allowing local insurance agencies to run searches on driving records more quickly to the behemoth that quietly touches all of us today.

In the early 1990s, before the commercial internet was widely available, Ashers business partner had the idea of buying up bulk D.M.V. records in the state of Florida. At the time, these were usually sold for a penny-a-record fee, and typically so an insurer or credit bureau could request intel as needed. At a time when most computers relied on one processing unit that operated sequentially, Asher and his collaborator figured out how to connect multiple smaller devices and distribute processing tasks, so that his system was able to outpace competitors.

As Asher realized, a search could potentially provide not just a current address, but also a list of any other occupants at the same address; past residences; businesses registered to a name; the value of a home. Asher and his co-workers added still more search criteria: marriage and divorce records, bankruptcies, credit reports, gun licenses, voter registrations. And, as home internet exploded in the late 1990s, email addresses and online shopping habits could be logged, too.

Police departments and corporate clients like newspapers (including this one), white-shoe law firms and insurers signed on to access Ashers ever-expanding trove of data, and his influence ballooned. When his first company, DBT, went public in 1996, Ashers 36 percent stake was worth $111 million; DBT later became ChoicePoint, which had an annual revenue close to $1 billion by 2004, and could count the State Department as a client. (Indeed, by 1997 Ashers shady past was inhibiting enough to such government contracts that he was voted out as C.E.O.)

Then came 2000. During the presidential election, DBT Online was contracted by the state of Florida to clean up its voter rolls by removing felons. However, the methodology the company used to cross-reference names was flawed Willie Steen was mixed up with Willie OSteen and thousands of (mostly Black) voters were mistakenly barred from voting. The margin of error was large enough to have potentially swung the election for Al Gore.

Despite this setback for the methodology, Asher, who publicly denied any responsibility for the debacle, continued to loom large in the world of data mining. After Sept. 11, he took it upon himself to find the planes hijackers using a set of narrow parameters. He ended up with a list of 1,000 potential people, down from the governments original 120,000 names, which included five of the actual hijackers.

Asher, who himself had evaded charges for his role as a drug-smuggling pilot between the States and Central America in the 1980s, was focused on the potential for his data to help with law enforcement, especially for missing and exploited children, frequently donating his services, along with monetary contributions.

Data privacy is one of those topics in tech journalism that are hard to write about because, while everyone knows its awful, it can make for dry reading. By following the colorful character of Hank Asher, The Hank Show succeeds in demonstrating how truly sinister the credit bureaus may actually be worse even than Facebook. The strategy also serves to demonstrate the real-world stakes.

Its easy to ignore the fact that, say, LexisNexis has our data, because it doesnt infringe on our lives in quotidian, irritating ways (think pop-up ads). But when that data is sold in aggregate to law enforcement, immigration or hospitals, it starts to matter.

The collection of our online data what websites we visit, whom we follow on Instagram, how long we lingered on a TikTok video before scrolling, what we Google should be of grave concern to all of us. The combined 2022 revenues of Alphabet and Meta are close to half a trillion dollars, mostly from highly targeted advertising.

As Funk points out, Apples Ask App Not to Track feature struck a serious blow to these tech companies; the majority of American iPhone users opt out of the ad tracking when given the choice. However, the kinds of data that Asher and his fellow brokers were collecting your address from your utility bills, facial recognition cameras in public places did not provide that option. Seeing an Instagram ad for a product youre likely to buy isnt a dire consequence. Being falsely accused of a crime due to law enforcements increasing use of predictive policing tech or being deported because of D.M.V. data? These are.

Ashers earlier company was sold to LexisNexis, and his last company, TLO (The Last One), was sold after his death by his daughters to the credit bureau TransUnion. Today, reporters routinely use both LexisNexis and TLOxp to find a phone number for a source, glean information like past criminal charges, or locate relatives and neighbors of someone in the news.

Like (I assume) most tech reporters, Ive run the search on myself out of curiosity. Indeed, its unsettling: not just my current phone and address, my childhood home, my parents names, the names of my college roommates as potential associates. There are services that, for around $10 per month, will opt you out of data brokers that it finds have your information. I highly recommend them.

Katie Notopoulos is a writer in Connecticut. She was previously a technology reporter for BuzzFeed News.

THE HANK SHOW: How a House-Painting, Drug-Running DEA Informant Built the Machine That Rules Our Lives | By McKenzie Funk | 304 pp. | St. Martins Press | $30

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Book Review: The Hank Show, by McKenzie Funk - The New York Times

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