On the way to democratize artificial intelligence and address the centralization issue, two decentralization-focused Web3 projects, Aelf, and AgentLayer, tied up to create a decentralized AI space. We have been focusing on this powerful partnership that plans to achieve AI disruption in the Web3 sphere through blockchain technology and AI integration.
AI development has been often facilitated by the giants and they have further raised concerns about data monopolization and control. On the other hand, blockchain, which is a kind of spread ledger system that cuts off any kind of bias, can solve this problem by opening access to AI technologies. By making an intersection between AI capabilities and Blockchain’s decentralized architecture, Aelf will allow more people in the community to create AI-enabled applications and services under the umbrella of the Web3 ecosystem.
The modular fashion of Aelf as L1 Blockchain fitted for AI solutions for Web3 is its unique selling point. The application of parallel processing and cross-chain bridges in addition to the capabilities, ensures high performance, scalability, and interoperability. Partnering with agentlayer, a mind and check parallel blockchain network, which has a vital role in autonomous AI agencies, is also trying to have a self-evolution ecosystem.
The blockchain counterparts will use AI agents to automate and verify smart contracts to create an optimistic and stable future. Besides, it intends to use the IAO (Initial AI Offering) model for blockchain and AI projects to achieve publicity, transparency, and decentralization.
In particular, Aelf and AgentLayer proposed types of blockchain technology that enable them to innovate Through integration, they are trying to set up a digital platform that will have high levels of interconnectivity and automation, thus generating innovation and cooperation in the modern digitized world.
Is Ripple Entering DeFi with a New XRP Lending Protocol?
Ripple, the name behind the digital currency XRP, has proposed a system of lending XRP, which would be used as a reserve currency. This new system aims at an easier landing and borrowing of XRP, as well as other currencies like Bitcoin and Ethereum, using the XRP Ledger as the platform.
The objective is to make the credit and loan values on the XRP ledger more decentralized and censorproof. It follows that there will not be a person or group that controls the use of the credit system. This scheme can bring about the result of being more inclusive and transparent in finance. In effect, it would make holders of digital currencies not only able to get interest while their cryptocurrencies are lent to others but also to borrow digital currencies when they need them to trade them.
A Peer-to-Peer system would allow users to deposit their cryptos in a common pool, from which other people would be able to borrow. Whether the loan terms are off-chain or directly on the blockchain, respectively, the details are made publicly available on the blockchain for the sake of transparency and security.
The essence of this plan is that no guarantor or any tangible security is required. It is doing that not by employing on-chain procedures of risk and default assessment but rather by using off-chain processes.
Developers have high hopes of approval of this project because it is planned to be responsive and modular. This essentially creates an ecosystem in which other developers can build additional applications and features on the money lending process that make the work of XRP Ledger more effective.
However, the possible advantages of the peer-to-peer lending scheme may make some companies apply, because p2p lending is unregulated just like the traditional financial products. This means the XRP community is working on its weekly planned additions such as Automated Market Maker (AMM) pools as well as the US dollar-backed stablecoin.
Is Investor Focus Shifting to Bitcoin Halving Amidst Geopolitical Relief?
Bitcoin (BTC) made a modest advance of 1.74% today, having reached $66,013 at the end of the session. The market trend changed towards geopolitical developments, especially Middle East tensions and the anticipation of Lucrative Halving of Bitcoin. Saturday’s rally in BTC followed the news of Iran-Israel pre-warning on an attack on the following day.
This news brought comfort to investors and led to easing out the immediate fears of retaliation, contributing to a three-day winning streak reversal. As the Bitcoin halving set to happen on April 19, 2024, draws close, investors pay close attention to the supply and demand dynamics. The upcoming events and the geopolitical situation are not only related to investor emotions and short-term price changes but also affected by them.
Bitcoin Fear and Greed Index, a measure of sentiment in the market, was at 74 on Monday, compared to 72 a day before, as it approached Extreme Greed territory. The growing trend of ‘Extreme Greed’ might be responsible for a future reversal trend, as the ETF flow data becomes a crucial factor in the future performance of BTC. Technical analysis points to a bullish streak for BTC since it remains above both the 50-day and 200-day Exponential Moving Averages (EMAs). Sailing above the $67,500 mark could open up an opportunity for a hike to reaching the $69,000 level of resistance.
Nevertheless, a technical analysis of Ethereum (ETH) reveals that the digital asset is below the 50-day EMA, sitting on top of the 200-day EMA, which could be interpreted as a mixed sentiment. This could start a take-off beyond the target at $3,244 and test the 50-day EMA at $3,480. On the contrary, breakdown through the vital level of $3,033 will probably lead to a drop to the 200-day EMA and support at the level of $2,664.
As investors are going through geopolitical tensions in addition to the Bitcoin halving event, market sentiment will continue to play its role in the way short-term price movements happen. As technical analysis leans to a bullish run, the prospect of ETF market flow data and GEO-political developments will further influence Bitcoin and Ethereum to the coming days.
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