A MUST READ For Security
Revoke.cash: Take Back Control of Your Wallet
I want to give a huge shout-out to @Punks2023
So, I got scammed, and they stole my Punk2023 #7195. When I told the community, they told me what to do next.
As a result of that very sad event, I learned about Revoke.cash and wanted to share it with all of you.
So here you go!
What is Revoke.cash?
Revoke.cash is a platform designed to help cryptocurrency wallet users regain control over their assets. When interacting with decentralized applications (dapps) like Uniswap or OpenSea, users often grant these platforms permission to spend their tokens and NFTs. This permission is known as a token approval. If these approvals are not revoked, the dapp can potentially spend the user's tokens indefinitely. Revoke.cash provides a solution by allowing users to revoke these approvals, ensuring that their assets remain secure.
Why Should You Use Revoke.cash?
1. Periodic Review: Regularly using Revoke.cash helps in limiting your approvals when you're not actively using a dapp, especially for NFT marketplaces. This minimizes the risk of losing funds due to hacks, exploits, or phishing scams.
2. Post-Scam Action: If you've been scammed, it's possible that the scammer tricked you into granting them approval access to your funds. By sorting your approvals by the most recent, you can identify and revoke suspicious approvals to prevent further damage.
3. Browser Extension: Revoke.cash offers a browser extension that alerts users when they're about to sign a potentially harmful transaction, acting as an added layer of security against phishing scams.
When to Use Revoke.cash?
- Regularly: To ensure that only necessary approvals are active and to reduce the risk of unauthorized access to your funds.
- After Interacting with New Dapps: Especially if you're unsure about the legitimacy of the dapp.
- Post-Scam: If you suspect you've been scammed, immediately check and revoke any suspicious approvals.
Things to Know When Using Revoke.cash:
1. Gas Fees: Revoking approvals requires gas fees, so ensure you have enough ETH in your wallet to cover these costs.
2. Unlimited Approvals: An "unlimited" approval only applies to the specific token or NFT collection you approved. For instance, an unlimited approval for DAI doesn't affect your USDC.
3. Disconnecting Wallet: Simply disconnecting your wallet from a website doesn't revoke approvals. The website won't see your address, but the approvals remain active.
4. Recovery Limitations: Revoke.cash is a preventative tool. It cannot recover stolen funds but can help prevent further unauthorized access.
In conclusion, Revoke.cash is an essential tool for anyone involved in the decentralized finance (DeFi) space. It offers a simple way to review and revoke token approvals, ensuring that your assets remain under your control. Regularly using Revoke.cash and being aware of the necessary precautions can significantly enhance the security of your crypto wallet.
Disguising Tech
The Art of NFT Branding for Businesses
In the rapidly evolving world of Web3, the line between tech jargon and everyday language can often seem blurred. This can be a barrier to entry for businesses, especially those outside the tech sphere. But what if we told you that the key to unlocking the potential of NFTs for your brand lies in the art of disguising tech?
Why Disguise the Tech?
Before diving into our hypothetical examples, let's address the elephant in the room: Why should businesses disguise tech terminology in their branding?
Relatability- Not everyone is a tech guru. Using familiar terms can make your brand more relatable and accessible to a broader audience.
Onboarding- Making the tech feel less intimidating can help in onboarding new users or customers, ensuring they don't feel overwhelmed.
Brand Identity- Tailoring tech lingo to fit your brand's voice and identity can make your offerings more memorable and unique.
Hypothetical Brand Examples
The Local Artisan Bakery - "BreadHeaven":
NFT Use: BreadHeaven decides to offer "Recipe Cards" - unique digital cards that give holders access to exclusive bread recipes.
Disguised Tech: Instead of marketing them as NFTs, they're branded as "Golden Recipe Cards". Customers can "collect" these cards, emphasizing the exclusivity and value without diving into the tech.
The Independent Yoga Instructor - "SoulfulStretch":
NFT Use: SoulfulStretch offers digital passes for a series of exclusive online classes.
Disguised Tech: These passes are branded as "Zen Passes". Instead of "minting" an NFT, customers are invited to "unlock their Zen Pass" for special sessions.
The Local Craft Brewery - "HopHaven":
NFT Use: HopHaven creates digital tokens that offer holders a free brewery tour and tasting session.
Disguised Tech: These tokens are branded as "Golden Tickets". Customers can "find" these tickets in special promotional packs, echoing the charm of Willy Wonka, but in the beer world.
The Importance of Disguising Tech in Onboarding
The examples above highlight how disguising tech can make the concept of NFTs more approachable. The initial impression is crucial when introducing a new idea or product, especially one rooted in complex technology. The onboarding process can become daunting if potential customers or users are met with unfamiliar jargon. By tailoring the language and branding to fit the audience, businesses can ensure a smoother transition into the world of Web3.
The world of NFTs offers many opportunities for businesses of all sizes—however, effective communication is the key to harnessing its potential. By disguising the tech and tailoring it to fit the brand, businesses can ensure that their audience understands and engages with the offerings.
Remember, in the business world, it's not just about what you offer, but how you present it.
Future AI Concepts – Part 2
The continuing saga of AI concepts
Artificial Intelligence (AI) has become one of the most influential technologies of our time, shaping industries and transforming the world in unprecedented ways. With the continuous advancement of AI, it's essential to understand its current capabilities and the future concepts set to redefine the technology. In this article, we will update you on the following.
1. Various models and approaches to AI
Machine Learning
Deep Learning and the fundamentals of neural networks
Natural Language Processing
Reinforcement Learning
2. The evolution of AI development
Quantum computing
Biomimetics
Ethics in AI
Various models and approaches to AI
Artificial Intelligence (AI) is a rapidly-evolving field involving various models and approaches. The most prevalent ones include Machine Learning (ML), Deep Learning (DL), Natural Language Processing (NLP), and Reinforcement Learning (RL).
Let's examine these and determine how specific algorithms fit into each model.
1. Machine Learning (ML): This subset of AI involves the creation of algorithms that allow computers to learn from and make decisions based on data. Decision Trees and SVMs are examples of ML algorithms.
2. Deep Learning (DL): DL is a subset of ML. To explain deep learning, think of deep learning as mimicking your brain when processing data to make valuable decisions. The function is to act like the workings of the human brain in processing data for decision-making uses.
The fundamentals of neural networks
Neural networks are a subset of DL. Neural Networks are an exciting topic with more than ten types based on their structure and function. An Artificial Neural Network is a type of DL model.
So, if I were to break this down further, it would look like the table below:
Reminder: I have shown you ten examples; however, there are many neural networks, and more are continuously coming to light. Towards Data Science provides a deep dive into neural networks giving us a different look at their complexity.
Next, we will look at two more approaches to AI. We are going to cover Natural Language Processing and Reinforcement Learning.
Two more models of AI
3. Natural Language Processing (NLP): It is an AI method of communicating with an intelligent system using a natural language. For example, NLP is a toolkit that helps the computer understand and speak human language. It's like a secret decoder ring for a computer!
4. Reinforcement Learning (RL): This is a type of ML where an agent learns to behave in an environment by performing specific actions and observing the results/outcomes. In RL, the computer learns to do things by trying them repeatedly, getting better each time. It's like a video game where the computer gets points for doing good things and loses points for doing bad things.
You may remember that our newsletter explained some of these terms last week.
The Evolution of AI Development
Don’t blink. The landscape of AI development changes at the speed of light. But I will give you just a taste to whet your curiosity. [American figure of speech]
First, we’ll start with Quantum Computing and then explore Biomimetics and Ethics in AI.
Quantum Computing – Quantum Computing is an emerging field at the intersection of physics and computer science. What? Are these subjects way too complicated for you? Have no fear. I’ll keep the explanation down to earth.
Imagine if you had a magical coin that could be both heads and tails simultaneously. Now, imagine having a whole bunch of these magical coins. You could solve many problems quickly because you don't need to flip each coin individually, but you can look at all the possibilities at once. That's sort of what Quantum Computing is like. It uses particular particles that can be in multiple states at once to solve complex problems much faster than regular computers. The following AI development is in the area of
Biomimetics - You know how sometimes you put on a superhero costume and pretend to have their powers? Biomimetics is similar but for scientists and engineers. They look at nature and its superheroes—like spiders, birds, plants, and even sea creatures—and try to mimic or copy their superpowers.
Take, for example, the gecko. These little lizards have this unique ability to walk on walls and ceilings. Scientists studied their feet and created a special kind of tape that can stick to surfaces like a gecko’s feet. You might think I’m referring to Velcro, but I’m not. The gecko-inspired adhesive is based on the unique nano-scale foot hairs of geckos. These hairs create an intermolecular force known as the Van der Waals force, allowing geckos to stick to virtually any surface. Scientists mimic this to create a super adhesive that doesn't leave any residue.
Or think about how a bird flies. Engineers look at their wings, how they're shaped, and how they move, and use that knowledge to design better, more efficient airplanes.
In essence, biomimetics is like a game of "copycat" where humans try to imitate nature's superpowers to create unique technology. It's like combining science class with a superhero movie!
Ethics in AI
The final area we will look at is the importance of ethics in AI. As AI becomes increasingly prevalent, ethical considerations are becoming more critical. These include issues of privacy, fairness, transparency, and accountability. For instance, how do we ensure AI systems respect user privacy? How do we prevent AI from perpetuating or exacerbating societal biases? How do we ensure transparency in AI decision-making processes? These are complex questions without easy answers but are crucial to address as AI evolves.
HubSpot says there are three major ethical concerns with AI. I have listed them below for you.
Privacy and security concerns
Social and environmental well-being concerns
Reliability concerns
But with all these AI “concerns,” are there any realistic benefits to AI? Sure, there are. HubSpot lists them as being:So, if there were a bottom line to the importance of AI ethics? Simply put, we have no choice. We must address it sooner than later.
Conclusion
In conclusion, the landscape of AI is constantly changing. In this article, we started by examining the various models and approaches in order to understand more about future AI concepts. In particular, we identified the following:
1. Various models and approaches to AI
Machine Learning
Deep Learning and the fundamentals of neural networks
Natural Language Processing
Reinforcement Learning
2. The evolution of AI development
Quantum computing
Biomimetics
Ethics in AI
From there, we looked at significant breakthroughs in Quantum Computing, Biomimetics, and Ethics in AI, shaping our world in unprecedented ways. Quantum computing leverages multi-state particles to solve intricate issues at a speed that outmatches traditional computers.
Biomimetics draws inspiration from nature's wonders to engineer groundbreaking technology. As AI permeates more aspects of our lives, the importance of ethics in AI becomes more pronounced, addressing critical concerns around privacy, fairness, and accountability.
While these advancements pose challenges, they also present opportunities such as enhanced trustworthiness, robust privacy protection, and eliminating unfair bias. Proactively tackling AI ethics is vital to ensuring its ethical and responsible implementation. Overall, it promises a future where AI aligns with universal values and helps to shape a more equitable and inclusive society.
Stay tuned for our next piece, where we delve into the top industries or sectors that have made the most remarkable advancements with AI. Witness how AI continues to change our world and how different sectors harness its potential to drive innovation and productivity. See you then. 😊
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