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Saudi Arabia and UAE race to buy Nvidia chips to power AI ambitions – Financial Times

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Saudi Arabia and UAE race to buy Nvidia chips to power AI ambitions - Financial Times

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AI-Supported Screen Reading vs Standard Double Reading in … – The ASCO Post

By Matthew StengerPosted: 8/14/2023 11:32:00 AM Last Updated: 8/14/2023 12:54:38 PM

In a Swedish study (Mammography Screening with Artificial Intelligence [MASAI]) reported in The Lancet Oncology, Lng et al found that artificial intelligence (AI)-supported screen reading was associated with a similar cancer detection rate and a lower screen-reading workload vs standard double reading for patients undergoing mammography screening for breast cancer.

Study Details

The current report is a prespecified clinical safety analysis, performed after 80,000 patients were enrolled in the study. In the MASAI trial, women aged 40 to 80 years eligible for mammography screening at four sites in Sweden were randomly assigned to receive AI-supported screening (n = 39,996) or standard double reading without AI (n = 40,024). The lowest acceptable safety limit in the AI group was a cancer detection rate of > 3 per 1,000 screened participants.

Key Findings

AI-supported screening among 39,996 participants resulted in 244 screen-detected cancers, 861 recalls, and a total of 46,345 screen readings. Standard screening among 40,024 participants resulted in 203 screen-detected cancers, 817 recalls, and a total of 83,231 screen readings. The screen-reading workload was reduced by 44.3% in the AI group.

Cancer detection rates were 6.1 (95% confidence interval [CI] = 5.46.9) per 1,000 screened in the AI group and 5.1 (95% CI = 4.45.8) per 1,000 in the control group (ratio = 1.2; 95% CI = 1.01.5, P = .052). Recall rates were 2.2% (95% CI = 2.0%2.3%) and 2.0% (95% CI = 1.9%2.2%). False-positive rates were 1.5% (95% CI = 1.4%1.7%) in both groups. The positive predictive value of recall was 28.3% (95% CI = 25.3%31.5%) and 24.8% (95% CI = 21.9%28.0%).

A total of 184 (75%) of 244 detected cancers in the AI group and 165 (81%) of 203 in the control group were invasive. Totals of 60 (25%) and 38 (19%) were in situ.

The investigators concluded: AI-supported mammography screening resulted in a similar cancer detection rate compared with standard double reading, with a substantially lower screen-reading workload, indicating that the use of AI in mammography screening is safe. The trial was thus not halted, and the primary endpoint of interval cancer rate will be assessed in 100,000 enrolled participants after 2 years of follow-up.

Kristina Lng, PhD, of the Division of Diagnostic Radiology, Department of Translational Medicine, Lund University, Malm, is the corresponding author for The Lancet Oncology article.

Disclosure: The study was funded by the Swedish Cancer Society, Confederation of Regional Cancer Centres, and Swedish governmental funding for clinical research. For full disclosures of the study authors, visit thelancet.com.

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Only AI made it possible: scientists hail breakthrough in tracking British wildlife – The Guardian

Artificial intelligence (AI)

Technology proves able to identify dozens of species in thousands of hours of recordings

Sun 13 Aug 2023 05.00 EDT

Researchers have developed arrays of AI-controlled cameras and microphones to identify animals and birds and to monitor their movements in the wild technology, they say, that should help tackle Britains growing biodiversity problem.

The robot monitors have been tested at three sites and have captured sounds and images from which computers were able to identify specific species and map their locations. Dozens of different birds were recognised from their songs while foxes, deer, hedgehogs and bats were pinpointed and identified by AI analysis. No human observers are involved.

The crucial point is the scale of the operation, said Anthony Dancer, a conservation specialist at the Zoological Society of London (ZSL). We have captured tens of thousands of data files and thousands of hours of audio from these test sites and identified all sorts of animals from them. We couldnt have done it at that scale using human observers. Only AI made it possible.

Land alongside rail lines at Barnes, Twickenham and Lewisham in London was chosen for the projects test sites. Owned by Network Rail, which has played a key role in setting up the project, the areas are fenced off to prevent people straying on to lines and are visited fairly infrequently by track maintenance staff.

Access to relatively wild land was therefore easy an important factor for starting our project, said Dancer.

And now that we have demonstrated the technologys promise, we can expand to other areas.

Network Rail owns more than 52,000 hectares of land, and many of these areas play a key role in protecting the nations biodiversity.

Take birds like the Eurasian blackcap, blackbird and great tit, said Neil Strong, biodiversity strategy manager for Network Rail. All three species require healthy environments including good supplies of berries and nuts and all three were detected by AI from the acoustic signals collected by our sensors at our three test sites. That is encouraging and provides important benchmarks for measuring biodiversity in future.

Other creatures pinpointed by the AI monitors included six species of bat, including the common pipistrelle.

Bats almost certainly use railway bridges for roosting, Dancer told the Observer. So if we can get more detailed information about the exact locations of their roosts using AI monitors, we can help protect them.

This point was underlined by Strong. In the past, we have had to estimate local wildlife populations from the dead animals such as badgers that have been left by the track or the roadside. This way we get a much better idea of population sizes.

Other animals that regularly commute on UK rail lines include the hedgehog, as was revealed by the project. Hedgehogs are really constrained to certain locations because they get fenced in, said Strong. But there are ways round that problem. In Scotland they are creating hedgehog highways on rail lines, which involves cutting small holes into the bases of all new fencing that is put up so hedgehogs can pass through but nothing larger can get in.

Now ZSL and Network Rail are planning to expand the use of AI monitors to other areas, including Chobham in Surrey and the New Forest. On the sites that we have already tested, we found signs of more than 30 species of bird and six species of bat, as well as foxes and hedgehogs, so we were pleasantly surprised with the relatively healthy levels of wildlife we found in London, said Dancer. However, that was not really the main purpose of our project.

The aim was to show that AI-led technology linked with acoustic and camera traps could be used effectively to survey wildlife on Network Rail land but also in other areas in the UK. It will tell us how species are moving in response to climate change and how we should be managing vegetation, not just beside rail lines but on road verges and other places.

The crucial point is that machine learning AI will be vital to protecting biodiversity as the country heats up. This technology will require the analysing of tens of thousands of hours of recordings and hundred of thousands of images, said Strong. Realistically, only computers can do that for us.

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Disney Secretly Braced for AI Takeover Nearly a Decade Ago – Inside the Magic

According to the United States patent office, Disney AI patents long preceded the onset of things like ChatGPT and other AI powerhouses. These date back to before the artificial intelligence revolution actually began.

The Walt Disney Company files a plethora of patents, some are accepted, and others sit in the pending file. Disney AI patents are of particular interest because, as far as most can predict, theyre the next wave of the future.

Its evident in the sheer number of patents Disney filed, AI or otherwise related. They arent the only horse in the race, but generative AI is far from a new concept to the Walt Disney Company.

Related: How Artificial Intelligence May Save Disney

The first patent of interest, filed on July 31, 2014 (nine years ago), was to use drone technology to make light shows.

A projection assembly for use with an unmanned aerial vehicle (UAV) such as quadrotors. The projection assembly includes a projection screen with a rear surface and a front surface, and the projection screen has a level of opacity and/or other physical qualities that enables it to function as a rear-projection surface. Patent Application ID 20160033855

Yes, there was a fireworks ban, but with the application of light and water, the Walt Disney World Resort can live on beyond its memory in a virtual world simulator. The use of this tech shows in the impressive Walt Disney Imagineering that saw the patent turned into a theme park sensation.

Drone shows using light and water have appeared at Disney in Tokyo, Hong Kong, and other theme park locations in the United States. This is one of the older patents-pending that apply to the Walt Disney Company. Others focus more on artificial intelligence.

In the age of Barbenheimer and Taylor Swift AI-generated theme parks, its hard to imagine the next wave of the future arriving without the help of some artificial intelligence (and the data labelers and coders who make it happen). The following patent pending, number 20210217226, makes things a bit juicier.

This patent was filed back in 2021 when generative AI was just on the uptick. The application is entitled Systems and Methods of Real-Time Ambient Light Simulation Based on Generated Imagery.

This example of Disney AI patents pending is the ability to control a processor that simulates ambient light and can display generated imagery. Basically, it can create a controlled illusion that appears real through the use of these curated images. Disney has, however, been doing this since the first feature filmSnow White and the Seven Dwarfs.

These types of virtual world simulators are as popular as their drone counterparts and other immersive experiences. The impressive fact is that Walt Disney Imagineering led the company to file these United States patents in a timely fashion.

There is an extensive process to patent law, but being first to the punch is essential to success (as is having a proprietary, quality product). It shows how ahead of the curve Walt Disney is, even when it looks like the company is faltering.

What do you think about these Disney AI patents? Make yourself heard in the comments below, bot or human!

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Disney Secretly Braced for AI Takeover Nearly a Decade Ago - Inside the Magic

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How Amazon is racing to catch Microsoft and Google in generative A.I. with custom AWS chips – CNBC

In an unmarked office building in Austin, Texas, two small rooms contain a handful of Amazon employees designing two types of microchips for training and accelerating generative AI. These custom chips, Inferentia and Trainium, offer AWS customers an alternative to training their large language models on Nvidia GPUs, which have been getting difficult and expensive to procure.

"The entire world would like more chips for doing generative AI, whether that's GPUs or whether that's Amazon's own chips that we're designing," Amazon Web Services CEO Adam Selipsky told CNBC in an interview in June. "I think that we're in a better position than anybody else on Earth to supply the capacity that our customers collectively are going to want."

Yet others have acted faster, and invested more, to capture business from the generative AI boom. When OpenAI launched ChatGPT in November, Microsoft gained widespread attention for hosting the viral chatbot, and investing a reported $13 billion in OpenAI. It was quick to add the generative AI models to its own products, incorporating them into Bing in February.

That same month, Google launched its own large language model, Bard, followed by a $300 million investment in OpenAI rival Anthropic.

It wasn't until April that Amazon announced its own family of large language models, called Titan, along with a service called Bedrock to help developers enhance software using generative AI.

"Amazon is not used to chasing markets. Amazon is used to creating markets. And I think for the first time in a long time, they are finding themselves on the back foot and they are working to play catch up," said Chirag Dekate, VP analyst at Gartner.

Meta also recently released its own LLM, Llama 2. The open-source ChatGPT rival is now available for people to test on Microsoft's Azure public cloud.

In the long run, Dekate said, Amazon's custom silicon could give it an edge in generative AI.

"I think the true differentiation is the technical capabilities that they're bringing to bear," he said. "Because guess what? Microsoft does not have Trainium or Inferentia," he said.

AWS quietly started production of custom silicon back in 2013 with a piece of specialized hardware called Nitro. It's now the highest-volume AWS chip. Amazon told CNBC there is at least one in every AWS server, with a total of more than 20 million in use.

AWS started production of custom silicon back in 2013 with this piece of specialized hardware called Nitro. Amazon told CNBC in August that Nitro is now the highest volume AWS chip, with at least one in every AWS server and a total of more than 20 million in use.

Courtesy Amazon

In 2015, Amazon bought Israeli chip startup Annapurna Labs. Then in 2018, Amazon launched its Arm-based server chip, Graviton, a rival to x86 CPUs from giants like AMD and Intel.

"Probably high single-digit to maybe 10% of total server sales are Arm, and a good chunk of those are going to be Amazon. So on the CPU side, they've done quite well," said Stacy Rasgon, senior analyst at Bernstein Research.

Also in 2018, Amazon launched its AI-focused chips. That came two years after Google announced its first Tensor Processor Unit, or TPU. Microsoft has yet to announce the Athena AI chip it's been working on, reportedly in partnership with AMD.

CNBC got a behind-the-scenes tour of Amazon's chip lab in Austin, Texas, where Trainium and Inferentia are developed and tested. VP of product Matt Wood explained what both chips are for.

"Machine learning breaks down into these two different stages. So you train the machine learning models and then you run inference against those trained models," Wood said. "Trainium provides about 50% improvement in terms of price performance relative to any other way of training machine learning models on AWS."

Trainium first came on the market in 2021, following the 2019 release of Inferentia, which is now on its second generation.

Inferentia allows customers "to deliver very, very low-cost, high-throughput, low-latency, machine learning inference, which is all the predictions of when you type in a prompt into your generative AI model, that's where all that gets processed to give you the response, " Wood said.

For now, however, Nvidia's GPUs are still king when it comes to training models. In July, AWS launched new AI acceleration hardware powered by Nvidia H100s.

"Nvidia chips have a massive software ecosystem that's been built up around them over the last like 15 years that nobody else has," Rasgon said. "The big winner from AI right now is Nvidia."

Amazon's custom chips, from left to right, Inferentia, Trainium and Graviton are shown at Amazon's Seattle headquarters on July 13, 2023.

Joseph Huerta

AWS' cloud dominance, however, is a big differentiator for Amazon.

"Amazon does not need to win headlines. Amazon already has a really strong cloud install base. All they need to do is to figure out how to enable their existing customers to expand into value creation motions using generative AI," Dekate said.

When choosing between Amazon, Google, and Microsoft for generative AI, there are millions of AWS customers who may be drawn to Amazon because they're already familiar with it, running other applications and storing their data there.

"It's a question of velocity. How quickly can these companies move to develop these generative AI applications is driven by starting first on the data they have in AWS and using compute and machine learning tools that we provide," explained Mai-Lan Tomsen Bukovec, VP of technology at AWS.

AWS is the world's biggest cloud computing provider, with 40% of the market share in 2022, according to technology industry researcher Gartner. Although operating income has been down year-over-year for three quarters in a row, AWS still accounted for 70% of Amazon's overall $7.7 billion operating profit in the second quarter. AWS' operating margins have historically been far wider than those at Google Cloud.

AWS also has a growing portfolio of developer tools focused on generative AI.

"Let's rewind the clock even before ChatGPT. It's not like after that happened, suddenly we hurried and came up with a plan because you can't engineer a chip in that quick a time, let alone you can't build a Bedrock service in a matter of 2 to 3 months," said Swami Sivasubramanian, AWS' VP of database, analytics and machine learning.

Bedrock gives AWS customers access to large language models made by Anthropic, Stability AI, AI21 Labs and Amazon's own Titan.

"We don't believe that one model is going to rule the world, and we want our customers to have the state-of-the-art models from multiple providers because they are going to pick the right tool for the right job," Sivasubramanian said.

An Amazon employee works on custom AI chips, in a jacket branded with AWS' chip Inferentia, at the AWS chip lab in Austin, Texas, on July 25, 2023.

Katie Tarasov

One of Amazon's newest AI offerings is AWS HealthScribe, a service unveiled in July to help doctors draft patient visit summaries using generative AI. Amazon also has SageMaker, a machine learning hub that offers algorithms, models and more.

Another big tool is coding companion CodeWhisperer, which Amazon said has enabled developers to complete tasks 57% faster on average. Last year, Microsoft also reported productivity boosts from its coding companion, GitHub Copilot.

In June, AWS announced a $100 million generative AI innovation "center."

"We have so many customers who are saying, 'I want to do generative AI,' but they don't necessarily know what that means for them in the context of their own businesses. And so we're going to bring in solutions architects and engineers and strategists and data scientists to work with them one on one," AWS CEO Selipsky said.

Although so far AWS has focused largely on tools instead of building a competitor to ChatGPT, a recently leaked internal email shows Amazon CEO Andy Jassy is directly overseeing a new central team building out expansive large language models, too.

In the second-quarter earnings call, Jassy said a "very significant amount" of AWS business is now driven by AI and more than 20 machine learning services it offers. Some examples of customers include Philips, 3M, Old Mutual and HSBC.

The explosive growth in AI has come with a flurry of security concerns from companies worried that employees are putting proprietary information into the training data used by public large language models.

"I can't tell you how many Fortune 500 companies I've talked to who have banned ChatGPT. So with our approach to generative AI and our Bedrock service, anything you do, any model you use through Bedrock will be in your own isolated virtual private cloud environment. It'll be encrypted, it'll have the same AWS access controls," Selipsky said.

For now, Amazon is only accelerating its push into generative AI, telling CNBC that "over 100,000" customers are using machine learning on AWS today. Although that's a small percentage of AWS's millions of customers, analysts say that could change.

"What we are not seeing is enterprises saying, 'Oh, wait a minute, Microsoft is so ahead in generative AI, let's just go out and let's switch our infrastructure strategies, migrate everything to Microsoft.' Dekate said. "If you're already an Amazon customer, chances are you're likely going to explore Amazon ecosystems quite extensively."

CNBC's Jordan Novet contributed to this report.

CORRECTION: This article has been updated to reflect Inferentia as the chip used for machine learning inference.

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AI can identify passwords by sound of keys being pressed, study suggests – The Guardian

Artificial intelligence (AI)

Researchers create system using sound recordings that can work out what is being typed with more than 90% accuracy

Tapping in a computer password while chatting over Zoom could open the door to a cyber-attack, research suggests, after a study revealed artificial intelligence (AI) can work out which keys are being pressed by eavesdropping on the sound of the typing.

Experts say that as video conferencing tools such as Zoom have grown in use, and devices with built-in microphones have become ubiquitous, the threat of cyber-attacks based on sounds has also risen.

Now researchers say they have created a system that can work out which keys are being pressed on a laptop keyboard with more than 90% accuracy, just based on sound recordings.

I can only see the accuracy of such models, and such attacks, increasing, said Dr Ehsan Toreini, co-author of the study at the University of Surrey, adding that with smart devices bearing microphones becoming ever more common within households, such attacks highlight the need for public debates on governance of AI.

The research, published as part of the IEEE European Symposium on Security and Privacy Workshops, reveals how Toreini and colleagues used machine learning algorithms to create a system able to identify which keys were being pressed on a laptop based on sound an approach that researchers deployed on the Enigma cipher device in recent years.

The study reports how the researchers pressed each of 36 keys on a MacBook Pro, including all of the letters and numbers, 25 times in a row, using different fingers and with varying pressure. The sounds were recorded both over a Zoom call and on a smartphone placed a short distance from the keyboard.

The team then fed part of the data into a machine learning system which, over time, learned to recognise features of the acoustic signals associated with each key. While it is not clear which clues the system used, Joshua Harrison, first author of the study, from Durham University, said it was possible an important influence was how close the keys were to the edge of the keyboard.

This positional information could be the main driver behind the different sounds, he said.

The system was then tested on the rest of the data.

The results reveal that the system could accurately assign the correct key to a sound 95% of the time when the recording was made over a phone call, and 93% of the time when the recording was made over a Zoom call.

The study, which is also authored by Dr Maryam Mehrnezhad from the Royal Holloway, University of London, is not the first to show that keystrokes can be identified by sound. However, the team say their study uses the most up-to-date methods and has achieved the highest accuracy so far.

While the researchers say the work is a proof-of-principle study, and has not been used to crack passwords which would involve correctly guessing strings of keystrokes or in real world settings like coffee shops, they say the work highlights the need for vigilance, noting that while laptops with their similar keyboards and common use in public places are at high risk, similar eavesdropping methods could be applied to any keyboard.

The researchers add there are a number of ways the risk of such acoustic side channel attacks can be mitigated, including opting for biometric passwords where possible or activating two-step verification systems.

Failing that, they say its a good idea to use the shift key to create a mixture of upper and lower cases, or numbers and symbols.

Its very hard to work out when someone lets go of a shift key, said Harrison.

Prof Feng Hao from the University of Warwick, who was not involved in the new study, said people should be careful not to type sensitive messages, including passwords, on a keyboard during a Zoom call.

Besides the sound, the visual images about the subtle movements of the shoulder and wrist can also reveal side-channel information about the keys being typed on the keyboard even though the keyboard is not visible from the camera, he said.

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Supermarket AI meal planner app suggests recipe that would create chlorine gas – The Guardian

New Zealand

Pak n Saves Savey Meal-bot cheerfully created unappealing recipes when customers experimented with non-grocery household items

A New Zealand supermarket experimenting with using AI to generate meal plans has seen its app produce some unusual dishes recommending customers recipes for deadly chlorine gas, poison bread sandwiches and mosquito-repellent roast potatoes.

The app, created by supermarket chain Pak n Save, was advertised as a way for customers to creatively use up leftovers during the cost of living crisis. It asks users to enter in various ingredients in their homes, and auto-generates a meal plan or recipe, along with cheery commentary. It initially drew attention on social media for some unappealing recipes, including an oreo vegetable stir-fry.

When customers began experimenting with entering a wider range of household shopping list items into the app, however, it began to make even less appealing recommendations. One recipe it dubbed aromatic water mix would create chlorine gas. The bot recommends the recipe as the perfect nonalcoholic beverage to quench your thirst and refresh your senses.

Serve chilled and enjoy the refreshing fragrance, it says, but does not note that inhaling chlorine gas can cause lung damage or death.

New Zealand political commentator Liam Hehir posted the recipe to Twitter, prompting other New Zealanders to experiment and share their results to social media. Recommendations included a bleach fresh breath mocktail, ant-poison and glue sandwiches, bleach-infused rice surprise and methanol bliss a kind of turpentine-flavoured french toast.

A spokesperson for the supermarket said they were disappointed to see a small minority have tried to use the tool inappropriately and not for its intended purpose. In a statement, they said that the supermarket would keep fine tuning our controls of the bot to ensure it was safe and useful, and noted that the bot has terms and conditions stating that users should be over 18.

In a warning notice appended to the meal-planner, it warns that the recipes are not reviewed by a human being and that the company does not guarantee that any recipe will be a complete or balanced meal, or suitable for consumption.

You must use your own judgement before relying on or making any recipe produced by Savey Meal-bot, it said.

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Dogecoin’s Future, Altcoin Predictions And PayPal’s Digital Currency: Top Crypto Stories This Week – PayP – Benzinga

August 13, 2023 8:08 AM | 2 min read

The cryptocurrency world was abuzz this week with predictions, launches, and significant transfers. From Dogecoins potential breakout to PayPals new stablecoin, the crypto landscape continues to evolve rapidly. Heres a look at the top stories that shaped the week.

Dogecoins Potential Breakout

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A pseudonymous crypto analyst, Kaleo, has hinted at a significant breakout for Dogecoin (CRYPTO: DOGE), suggesting potential gains exceeding 200%. Despite skepticism, Kaleo believes DOGE could reach around $0.24, a significant jump from its current trading price of approximately $0.075. Read the full article here.

Dogecoin and Shiba Inus Correlation

Cryptocurrency analyst Ali Martinez highlighted a positive correlation between meme cryptocurrencies, Dogecoin and Shiba Inu (CRYPTO: SHIB). Data suggests that when Shiba Inus price moves, Dogecoin often follows. Despite Shiba Inus recent 20% surge, Dogecoin has yet to show a similar pattern. Read the full article here.

PayPals New Stablecoin

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PayPal Holdings Inc. (NASDAQ:PYPL) has unveiled a new U.S. dollar-denominated stablecoin named PayPal USD (PYUSD). Issued by Paxos Trust Co., this digital currency aims to revolutionize the digital payments landscape. With its value anchored 1:1 to the dollar, a phased rollout for U.S. users is anticipated. Read the full article here.

Peter Brandts Altcoin Prediction

Veteran trader Peter Brandt opined that 99.8% of altcoins will eventually meet a fate similar to the HEX coin. This statement comes in the wake of the Securities and Exchange Commission (SEC) suing HEXs associated projects and its internet marketer, Richard Schueler. Read the full article here.

Mysterious Dogecoin Transfer

An unidentified wallet transferred 67.81 million Dogecoin to Coinbase, a Bitcoin (CRYPTO: BTC) Ethereum (CRYPTO: ETH) and other cryptocurrency exchange platform. Valued at over $5 million, the intentions behind this significant transfer remain a mystery, sparking speculations of a potential whale dump. Read the full article here.

For more in-depth coverage on the cryptocurrency sector, you can read more on Benzinga's crypto coverage by following this link.

Dogecoin. Photo by Vitalii Stock on Shutterstock

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Dogecoin's Future, Altcoin Predictions And PayPal's Digital Currency: Top Crypto Stories This Week - PayP - Benzinga

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Under-the-Radar DeFi Altcoin Outpaces Overall Crypto Market This Week Amid Testnet Rollout of New Feature – The Daily Hodl

One under-the-radar decentralized finance (DeFi) altcoin is outpacing the overall crypto market this week as the project launches the testnet of a new payments feature.

In a new announcement, cloud-focused DeFi protocol Akash Network (AKT) says it has rolled out the testnet of its Stable Payments feature, which will allow traders to settle payments using Circles stablecoin, USD Coin (USDC).

As stated by Overclocked Labs, the creators of Akash Network,

Stable Payments on Akash just successfully passed initial testing. This key feature of AKT 2.0 will enable users to settle deployments in USDC. Its live on the public testnet right now, and it will be included as part of the upcoming Akash GPU (Graphics Processing Unit) mainnet upgrade.

News of the new feature sent AKT skyrocketing, as the digital asset went from a price of $0.577 on August 6th to a peak of $1.17 on August 11th, an increase of over 102%. The altcoin is trading at $1.12 at time of writing.

Circle CEO Jeremy Allaire gave a shout-out to the collaboration with Akash Network, describing the partnership as a decentralized cloud infrastructure with globally available settlement currency.

According to Cheng Wang, CFO of Overclock Labs, adding USDC to Akash Network will help alleviate the issues associated with only having AKT as the only supported form of payment over the protocol. Wang says the issues include a lack of price stability and the process users have to go through to acquire AKT.

AKT, which also focuses on machine learning and artificial intelligence (AI), launched AI testing on its testnet in May, which at the time also caused the crypto assets price to rise.

Generated Image: Midjourney

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Under-the-Radar DeFi Altcoin Outpaces Overall Crypto Market This Week Amid Testnet Rollout of New Feature - The Daily Hodl

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Altcoin mania and Bitcoin ETF approval remain hot topics; heres what to expect this week – FXStreet

There are no major crypto or macroeconomic events scheduled for this week, so we are going to focus on three aspects.

The United States Securities and Exchange Commissions (SEC) decision on the approval of a Bitcoin spot ETF is something to watch for.

Experts say that one of these two things will happen the SEC says it needs more time to take a decision or the SEC directly rejects ETF applications. While the latter is not outside the realm of possibilities, investors are still expecting a delay.

Read more: Bitcoin Weekly Forecast: US SEC likely to reject BTC ETF, experts say

ARK Innovations Cathie Wood and BlackRock filings for a Bictoin ETF were two events that reignited the ETF flame. But the SEC has already delayed Woods Ark 21Shares Bitcoin ETF application by several weeks.

If traders were expecting an influx of volatility due to this event, they should not.

It looks like Bitcoin price is ready to move higher into the $30,000 region, but it has been that way for nearly two months now. Since it is the start of a new week, BTC might be primed to climb higher to $30,340.

A bit of consolidation around the $30,500 area would be a good place for short sellers to bet on their bearish thesis. If this outlook does come to pass, the conservative targets include $28,138, $27,330 and $26,767.

With Bitcoin price being a bore, investors have moved to altcoins to satiate their risk appetite. These investors are not just into pesky and boring Centralized Exchange (CEX) altcoins, theyre also trading in the on-chain altcoins ecosystem, where scammers run amok. Still, investors are hunting these tokens due to the enormous returns that these on-chain altcoins offer.

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On-chain degeneracy rages as Bitcoin fails to deliver: Part oneOn-chain degeneracy rages as Bitcoin fails to deliver: Part two

Elsewhere, nearly $200 million worth of token unlocks are due this week for The Sandboxs SAND, Apecoins APE and Injective Protocols INJ.

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Altcoin mania and Bitcoin ETF approval remain hot topics; heres what to expect this week - FXStreet

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