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Warning against fake news, which is made up and circulated in social media,
Turkish Radio and Television Corporation (TRT) Director General Ibrahim Eren said Tuesday the mainstream media was regaining its space thanks to its reliability.
''The most important thing that the people seek is a reliable news source,'' he said.
''For this reason, the mainstream media and journalism have started to return to the center stage,” Eren told Anadolu Agency on the sidelines of the 5th Global News Forum (GNF), one of the most important events of the Asia-Pacific Broadcasting Union (ABU).
The world was going through a process of transformation and adaptation, Eren, who is also vice president of the ABU, said, and added that the social media and mainstream media have been interacting over past 10 years.
The forum, hosted by TRT in Istanbul, has brought together 120 guests from 35 countries under the theme of “Trust and Truth in Journalism”.
Eren said the latest developments have proven the importance attached to reliability of the source of news.
“The audience should choose the news sources again and detect the ones that are reliable,” he said.
He added that the public broadcaster TRT has always been thoughtful of conveying the correct news with accurate information.
“Our nation trusts all the news that TRT produces,” Eren said, revealing that the ratings of TRT News channel have hit the highest in the country over past one year.
Earlier, while welcoming guests, Eren said the aim of the forum was to discuss about the dynamics of journalism being affected or influenced by the developments in real or virtual world.
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Firefox is a convenient, fast and lightweight browser. Moreover, it is the only mainstream open-source browser, and its code has been thoroughly researched and scrutinized by the community.Thus, you can be sure that there are no dodgy widgets hidden inside.
Firefox is also quite secure. Like other major market players, it offers a private browsing mode that includes tracking, malware and phishing protection, pop-up blocking, and anti-fingerprinting protection. You can use its extensive customization possibilities pretty easily, but just be sure to disable the telemetry function, which sends your usage and performance data to Mozilla. Firefox also has an impressive collection of security-focused add-ons that can be used to make its experience safer.
Firefox contains some functions that might concern privacy-oriented users, like Pocket, Telemetry, and startup profiling. However, you can disable them by tweaking the settings.
Firefox is available for Windows, macOS, Linux, Android, and iOS.
Our rating (out of 5): ⭐⭐⭐⭐⭐
Conclusion: the best browser for privacy
With privacy settings slightly tweaked and a few security add-ons installed, Firefox is the best private browser solution among mainstream browsers with greater extension compatibility and ease of use. If your anonymity needs are more advanced or you want to access the dark web, Tor is the one you're looking for.
However, please bear in mind that no safe browser is perfect – each of them has its respective strengths and weaknesses. Research your favorites on this list to see which is right for you. Use them in combination with other tools, such as tracker blockers and VPNs.
Other privacy tools
When choosing your new, more-secure browser, you may also want to consider which extensions it does or doesn't work with. There are a ton of excellent privacy tools out there, but they don't all work with every browser. To find the right browser privacy extensions for you, click here.
Another essential privacy tool is a VPN. NordVPN's encrypted VPN tunnel will hide your traffic from hackers, ISPs, and governments, and protect you from numerous attacks as well. Use it in combination with a secure browser to ensure optimal online browsing security.
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Remove Google from your life? Yes, it can be done!
Google trackers have been found on 75% of the top million websites. This means they are not only tracking what you search for, they're also tracking which websites you visit, and using all your data for ads that follow you around the Internet. Your personal data can also be subpoenaed by lawyers, including for civil cases like divorce. Google answered over 120,000 such data requests in 2018 alone!
More and more people are also realizing the risk of relying on one company for so many personal services. If you're joining the ranks of people who've decided Google's data collection has become too invasive, here are some suggestions for replacements with minimal switching cost. Most are free, though even those that are paid are worth it — the cost of not switching is a cost to your personal privacy, and the good news is we have a choice!
Google Search → DuckDuckGo (free)
Let's start off with the easiest one! Switching to DuckDuckGo not only keeps your searches private but also gives you extra advantages such as our bang shortcuts, handy Instant Answers, and knowing you're not trapped in a filter bubble.
Gmail, Calendar & Contacts → FastMail (paid), ProtonMail (free with paid options), Tutanota (free with paid options)
FastMail is an independent, paid service that also includes calendar and contacts support across all devices. There are also several ways to get encrypted email between trusted parties by integrating PGP encryption tools. Even more private email alternatives are ProtonMail and Tutanota, both of which offer end-to-end encryption by default.
YouTube → Vimeo (free with paid options)
For videos that are only on YouTube (unfortunately, a lot), you can search for and watch them on DuckDuckGo for better privacy protection via YouTube's "youtube-nocookie" domain. If you're creating and hosting video yourself, however, Vimeo is the best-known alternative which focuses on creators.
Google Maps → Apple Maps (free), OpenStreetMap (free)
For iOS users, Apple gives you an alternative built in via Apple Maps, so no installation is necessary. For wider device support, check out OpenStreetMap (OSM) which is more open, though may not have the same ease-of-use or coverage quality as Apple Maps.
Google Drive → Resilio Sync (free with paid options), Tresorit (paid)
Resilio Sync provides peer-to-peer file synchronization which can be used for private file storage, backup, and file sharing. This also means your files are never stored on a single server in the cloud! The software is available for a wide variety of platforms and devices, including servers. An alternative cloud storage and backup service with end-to-end encryption is Tresorit.
Android → iOS (paid)
The most popular alternative to Android is of course iOS, which offers easy device encryption and encrypted messaging via iMessage by default. We also have tips to increase privacy protection on your iPhone or iPad.
Google Chrome → Safari (free), Firefox (free), Brave (free), Vivaldi (free)
Safari was the first major browser to include DuckDuckGo as a built-in private search option. A more cross-device compatible browser is Mozilla's Firefox, an open source browser with a built-in tracker blocker in private mode. Brave goes one step further with tracker blocking switched on by default. There are also many more browsers that come with DuckDuckGo as a built-in option, such as Vivaldi, which is well suited for power-users.
Blogger → Ghost (paid), WordPress.com (free with paid options)
Ghost is both a hosted (paid) and self-installable blogging platform, tracker-free by default and run by a non-profit foundation. We like it so much we use it for our own blog! A free alternative is WordPress, powering an estimated 33% of the world's websites. It's also available both for self-installation and as a hosted service with no third-party trackers by default. The community is huge with extensive multilingual documentation and many themes to choose from.
Google Hangouts/Meet → Jami (free), Apple FaceTime (free), Microsoft Teams (free with paid option)
Jami is a cross-platform service that offers end-to-end encryption, and its privacy policy states that the only data it collects is "anonymous and aggregated data for the analysis of Jami website visits statistics." If everyone involved has access to an Apple device, FaceTime is another alternative that is easy-to-use and supports end-to-end encryption. For enterprise-level support, Microsoft Teams is widely used and they note that they do not to use your Teams data to serve ads, or to track participant attention.
Google Duo and Android Messages → Signal (free)
There are several services offering private messaging but, as we've mentioned before, Signal gets our recommendation. It offers free, end-to-end encryption for both messages and private calls. It's also recommended by Edward Snowden and renowned security expert Bruce Schneier, among others.
Google Groups → MeWe (free with a paid version), Discourse (paid, or free if self-installed)
MeWe is a social network based around groups that can be made private or public. Their privacy policy makes clear that they don't collect or share personal data. Alternatively there's Discourse, which is an open source discussion platform, offering public and private conversations with a trust system and spam protection. Paid hosting is offered but the software is also freely available for administrators to host on their own servers.
Google Analytics → Fathom (paid), Simple Analytics (paid)
If you run a website that uses Google Analytics, you're letting Google collect data on every visitor, which they can then tie to data collected from millions of other websites. Switching to Fathom or Simple Analytics will still give you visibility into how visitors are using your website, but you'll also be respecting their right to privacy. Both of these services are GDPR-compliant by default, do not use cookies and therefore don't require those annoying cookie agreement popups.
Google Ads & AdSense → CodeFund
CodeFund is currently limited to developers and designers, but if that's your audience this is a platform for both advertising and hosting ads with a focus on ethics, using contextual advertising (i.e. based on the content of websites) rather than behavioral. They take steps to avoid tracking users, such as by not saving IP addresses, and the platform code is open source for anyone to verify.
As you can see, moving away from Google needn't be hard. In fact, you might find you prefer the alternatives while also getting better privacy!
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the development of a US dollar digital currency that will rival the soon to be launched Yuan cryptocurrency. According to the lawmakers, the move would help secure the USD’s position on the global market.
The general consensus is that a national digital currency should be under the control of the Federal Reserve. This would prevent the exploitation of users by manipulative commercial companies.
The American Bankers Association has, however, pushed back against the proposition. It has argued that the Federal Reserve would be transformed into an unstoppable service provider capable of monopolizing its position in the financial sector.
China has been working on its Yuan cryptocurrency for a while now. Its digital coin is currently under trial in major cities such as Suzhou, Chengdu, Shenzhen, and the Xiong’an New Area. There are numerous reasons why Beijing is keen to lead the national digital currency trend.
Is the US Further Weaponizing the Dollar with a Digital Currency?
The US government has slapped crippling embargoes on nations such as North Korea, Iran, and Venezuela. It recently also targeted a collective of Chinese corporations. The Trump administration accused them of aiding the Chinese government in undermining the rights of ethnic Uighurs.
28 Chinese surveillance and related Artificial Intelligence companies, including Hikvision, iFlytek, Megvii, and SenseTime, were blacklisted. The sanctions prohibit US companies, including financial institutions, from dealing with them.
In Iran and Venezuela, the US has devastated their economies by effectively weaponizing the dollar and stopping other countries from using it in transactions with them. The beleaguered nations have also been blocked from the SWIFT international money transfer network, turning them into closed economies.
The fact that China is still heavily reliant on the dollar for international trade makes it vulnerable. This is one reason why the leadership is keen to promote a frictionless global digital currency that is under the control of the PBOC, China’s central bank. A globally accepted digital Yuan would help undercut the USD dominance in Chinese trades.
Although China has signed accords with some nations to secure currency swaps, the agreements cover just over 3.4 trillion Yuan ($4.8 billion) in transactions.
Ultimately, the allure of the US dollar supersedes that of the Yuan across the globe. As such, approximately 60 percent of China’s forex reserves are in the USD currency.
There is a growing risk in holding the dollar because the US recently raised its fiscal deficit. The move is set to negatively impact the value of the currency in the near future.
The rollout of the Yuan cryptocurrency is set to begin on popular Chinese platforms such as WeChat and AliPay.
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Cryptocurrency trading is a very lucrative business and a perfect alternative to the holding mentality that continues to cripple the cryptocurrency community. Given the high volatility nature of the cryptocurrency market, it’s extremely easy to make a living trading cryptocurrency. Currently, there are several types of trading, but day trading remains the most popular. Properly conducted, day trading is hugely profitable. It takes a lot of discipline and experience to master. Even professional financial advisors and managers tend to shy from it. However, with a well-planned strategy, even a novice can make it a lucrative career.
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We'll dig into some key similarities and differences between the two most popular cryptocurrencies — Bitcoin and Ethereum.
Bitcoin and Ethereum are two blockchain networks with their own forms of cryptocurrency, but they have some important distinctions.
The similarities between Bitcoin and Ethereum
One major similarity between Bitcoin and Ethereum is that both have tokens, “bitcoin” and “ether,” respectively, that can be used as digital currency in some jurisdictions. In other words, you can pay for things with bitcoin or ether.
Unlike the U.S. dollar and other central bank-based currencies, however, the Bitcoin and Ethereum networks, and bitcoin and ether tokens, aren’t centrally controlled by governments or banks.
Additionally, Bitcoin and Ethereum both rely on blockchain technology that records every blockchain transaction, whether that be to create, distribute, trade, or store the currencies.
Blockchain technology stores information on a ledger—similar to how a spreadsheet stores information. However, blockchain enables many people to hold copies of that ledger at the same time (often referred to as a “distributed ledger”), whereas a spreadsheet stored on one computer is far more limited and under the control of one or a few people. Many people believe that the reliance of Bitcoin and Ethereum on blockchain lends a stronger sense of security because blockchain technology is generally thought to be more hacker-resistant than centrally stored computer ledgers. Additionally, the information relating to every transaction is available for everybody to see—providing visibility and transparency.
Bitcoin and Ethereum also, as of June 2021, depend on the same blockchain validation method, known as “proof of work.” Proof of work is a type of algorithm that utilizes “miners” to compete with one another to validate blockchain transactions using computational power. This concept is described in slightly more detail below.
How Bitcoin is different
Launched in 2009 by an unknown person or group known as “Satoshi Nakamoto,” Bitcoin is the granddaddy of cryptocurrencies. As measured by market value at the time of writing, Bitcoin ranks as the world’s biggest cryptocurrency.
As of late June 2021, more than 18.7 million bitcoins had been “mined.” Bitcoin transactions are verified and recorded in the public blockchain ledger by Bitcoin users. This helps to keep blockchain hacker-resistant. As compensation for their efforts, these users who verify transactions — miners — are awarded bitcoin whenever they add a new block of transactions to the blockchain.
According to the current Bitcoin protocol, the number of bitcoins produced will be capped at 21 million. Currently, the production of bitcoin slows down every four years through a process called “halving.” A Bitcoin halving event is when the reward for mining Bitcoin transactions is cut in half. This event cuts in half the rate at which new bitcoins enter circulation. This halving process is designed to make the supply of bitcoin relatively stable and predictable. In 2020, the number of bitcoins generated about every 10 minutes (a new block of transactions is verified about every 10 minutes) fell from 12.5 to 6.25. The next halving is currently scheduled to happen in 2024.
The ceiling on how many bitcoin will be created sets up a market structure that some Bitcoin proponents believe boosts the currency’s value over the long term, though there are others who disagree with this assertion. In terms of cost, bitcoin is among the most expensive cryptocurrencies, with the price surpassing $50,000 in mid-May 2021, though as of the time of writing in late-June 2021, the price is around $34,000, which highlights the historical volatility of this asset.
You can purchase bitcoin from brokers, exchanges, and other bitcoin owners.
How Ethereum is different
While the current Bitcoin protocol will stop the production of bitcoins once the supply reaches 21 million, the potential supply on the Ethereum network is larger. As of late June 2021, the supply of ether stood at about 116.3 million. As of the time of writing in late June 2021, the price of Ethereum was hovering around $2,200.
Introduced in 2015, Ethereum offers some features that Bitcoin currently does not. Ethereum was originally designed to be used as more than a “digital cash” and the Ethereum community has built many apps on top of the Ethereum network, some of which have their own tokens that can be bought, sold, or used on the Ethereum network. You’ll see a lot of services such as lending, borrowing, online gaming, and insurance apps built on Ethereum. Note that anyone can build an app on Ethereum, so caution should be used whenever investigating a new app or token built on Ethereum.
It’s expected that significant Ethereum upgrades will happen sometime in the next few years, sometimes referred to as Ethereum 2.0.
You can buy ether from brokers, exchanges, and other ether owners, just like bitcoin.
**All information and data is provided “as is” for informational purposes only, and is not intended for trading purposes or financial, investment, tax, legal, accounting or other advice. Fees may apply for any activity conducted through the Binance.US exchange. View our Fee Structure to learn more.
Looking to get started with cryptocurrency? Buy Bitcoin, Ethereum, and more on Binance.US!
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Dollar-cost averaging (or DCA) involves spending equal amounts of money at regular intervals, no matter how the cryptocurrency is performing at the time.
For instance, you may split $12,000 into 12 once-a-month purchases of $1,000. Simply put, DCA offers a long-term strategy for buying crypto by reducing the effects of volatility. Therefore, DCA is better suited for an active trading approach.
Dollar-cost Averaging makes the most sense when you want to consistently buy cryptocurrency over time while maintaining a low-tolerance for risk.
But is Dollar-cost averaging a good strategy?
DCA has pros and cons.
Dollar-cost averaging enables you to:
Even out your purchases. You end up buying more crypto when prices are falling and less when prices are rising.
Make buying easier. When you spread out your purchases over a certain period, you’re allocating less money per day, week, or month than if you make one lump-sum transaction. Therefore, you can treat buying crypto more like paying your monthly bills.
Add discipline to purchasing. DCA lets you resist the temptation to “time the market,” which can expose you to greater market volatility.
DCA isn’t without its downsides, though. Some cons:
More fees. Since you’re buying crypto more frequently, you’ll likely end up paying more fees than if you make one lump-sum purchase - luckily Binance.US has some of the lowest fees in America!
Lower returns. In some cases, DCA may result in lower returns than buying with a lump-sum. That’s because $6,000 all at once will enjoy a better chance to generate gains than if the same $6,000 were spread out over a 12-month span.
Market fluctuations. Sticking to a DCA approach may leave you out of the loop if you want to jump on advantageous shifts in the market.
To practice DCA in the most cost-effective manner, pay attention to trading fees, and minimize purchases and sales.
Free online calculators that can help you figure out DCA are available from dcaBTC, Bitcoin Dollar Cost Average, Merrill Edge, Personal Finance Club, Moneychimp and StashLearn.
A quick example of Dollar-Cost Averaging
When applying DCA to buying Bitcoin, you buy a small, recurring amount of the cryptocurrency over time.
Binance.US enables you to make recurring purchases on a daily, weekly, bi-weekly or monthly basis. You can do this by logging in to or registering for a Binance.US account, and then clicking on Recurring Buy under the Buy Crypto tab in the navigation bar.
You can also set up recurring buys on the Binance.US mobile app. Log in or register your Binance.US account and click the “Buy Crypto” button at the top of your screen. First, choose the coin you want to buy by tapping the cryptocurrency of your choice. Type in the amount you would like to buy.
If you would like to toggle the buying options, simply click the circular arrows in the top right corner. Next, tap the arrow icon to display the recurring options. Set the frequency that you would like (Daily, Weekly, Bi-Weekly, Monthly), choose your payment method, and finally click the Preview Purchase button. Preview the details of your recurring buy and if all looks good, click the Confirm Purchase button to submit your purchase. Please note that confirming will place your first order immediately and your subsequent recurring purchases will take place at the selected cadence.
Visit our guide, and start Dollar-Cost averaging on Binance.US today!
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A proposition to greenlight Secret Network joining the Inter-Block Communication (IBC) protocol is set to pass, with most voters saying yes to the tie-up.
According to @JayJaboneta, Proposition 63 will end late Monday, and the current voting results have the yeses overwhelmingly in the lead. Meaning the coming days will see network integration between all relevant parties.
This marks a momentous occasion for all IBC members, including Cosmos and Terra. Soon, they will be able to benefit from data privacy by default thanks to the involvement of Secret Network.
What is IBC?
Cosmos launched IBC in March this year as a way to transfer crypto-assets quickly and easily between different blockchains.
Dubbed the “internet of blockchains,” IBC is said to be the first chain to have permissionless and open-source cross-chain token transfer capabilities. This will enable several new use cases for cross-chain DeFi.
With Secret Network almost certain to join IBC, member chains will soon be able to benefit from privacy by default, programmable privacy, Web3 interoperability, and further decentralization.
As well as bringing programmable privacy to the Cosmos ecosystem, the Secret Network is already bridged with Ethereum, Binance Smart Chain, Monero, Terra, Bitcoin, and Polkadot.
Who is Secret Network?
Secret Network protects users, secures applications, and unlocks hundreds of new use cases for Web3. The team intends to tackle the problem of exposed data, allowing protocols and users greater control of how data is used and stored. This they term “programmable privacy.”
The project first began in 2015 as a research idea at MIT. But since then, it has evolved to become a working protocol with practical application.
“Secret Network improves upon traditional smart contracts by supporting encrypted inputs, encrypted outputs, and encrypted state for smart contracts – data privacy for sensitive information stored on the blockchain.”
Although Secret Network bridges many different blockchains, Founder Tor Bair said the Cosmos-Terra-IBC bridge protocol is a new kind of bridge model, different from the other bridges.
Bair spoke about the experimentation that has gone on in making bridge models for different blockchains. Adding that, at this point, he still doesn’t know how a sustainable bridge model will turn out.
Nonetheless, he reiterated his commitment to Secret Network becoming the leading privacy hub.
“It’s exciting to see all the experimentation, honestly, we don’t know yet what the sustainable bridge models are going to look like. We do know, however, that no matter what that trust model looks like we want to be the privacy hub. We want to be where users can rely on having data privacy by default…”
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Understanding how these averages work will benefit traders who are trying to extrapolate token prices.
Introduction
Trading indicators are the lifeblood of technical analysis. Traders use these simple and sophisticated tools to determine their entry or exit, the market conditions, or the current trends. The VWAP tool indicates the amount of liquidity available at a given period in the market on a specific trade. Application of the VWAP could help traders hinge closer to nailing correct entries or exits.
What is Volume-Weighted Average Price (VWAP)?
As the name implies, it’s the average price of the asset/market for a given period weighted by volume. It combines volume plus price action to give an idea about the presence of liquidity in a trade.
VWAP - Image Source: Binance Academy
Its utility is in its ability to determine the market trends, combine the effective strategies of both volume and price action, and give a near correct direction to a trader. Certain crossing on the VWAP can determine a trader’s action, indicating the most profitable trades they can make.
How to Calculate VWAP
As with other indicators available in the chart, VWAP tools are pre-installed in platforms like TradingView or certain exchange trading interphases,pre-installed, such as Binance.
TradingView with VWAP Indicators
It’s best to learn how to calculate this if you intend to go manual or in the case you get to use a chart without an already installed VWAP tool.
Binance Trading Exchange with VWAP Tool
To calculate the VWAP, add up the traded value for each transaction (price multiplied by volume), then divide that by the total volume.
VWAP = Typical Price * Volume / Volume
Typical Price = High + Low + Close / 3
Let’s pick a 5-minute candle and determine the VWAP of that trade.
First, calculate the typical price for the first 5-minute candlestick. Add the High, Low, Close, and divide the number by 3.
Compute the volume with the typical price for that period (in this case, 5 minutes). Tagging this value n1, as it relates to the first measured period.
Divide the result by the total trading volume up until that period. This gives the VWAP value for the first 5 minutes of trading.
To calculate the corresponding VWAP values, continue adding the new n values (n2, n3, n4…) from each period to the initial values. Then divide that by the total volume up until that point.
By this, we can now understand why the VWAP is called an additive indicator, as the values are increasing by successive additions.
The Significance of VWAP
High volume traders use the VWAP to set their entry or exits and determine a less impact period to enter trades as this type of high volume trade can impact the overall market.
Similar to the Moving Average indicator, VWAP works by the crossing of the VWAP line. For example, VWAP crossing above indicates a buyers market; typically, traders would buy when this happens as this shows the market is ready to go long. In the case of the line crossing below, it indicates a seller market meaning the market is about to go short.
This means that a properly timed market will help traders get in and out with the best prices just when the market is about to break out of its previous trends.
The Appeal of VWAP
VWAP is about the only tool in Technical Analysis that combines both Volume and Price Action. These are two powerful indicators many traders use in isolation, but now can be combined into one tool.
Traders can determine key market components and drivers with one glance or calculation, including the volume, available liquidity, and the current trend.
Possible Weaknesses
As with other indicators, VWAP does not work best in isolation but with other tools. The tool uses historical price data to predict price movements, and as such, what happened in the past may not repeat. Thus the tool doesn’t have stark predictive qualities.
The VWAP tool is a single day/intraday trading tool, i.e., it is best applied in Day Trading. Trying to create a VWAP across multiple days will mean that the average price is distorted.
Like moving averages, the VWAP is a lagging indicator, as is based on past price data. Similarly to a moving average the more the data, the greater the lag. Due to this, a 5-minute VWAP will react more quickly to current price movements than a 100-minute VWAP.
In Conclusion
VWAP is one of many indicators available to a trader showing the volume of a trade/market relative to the price action. It is best used in combination with other tools and not isolated as it doesn’t have stark predictive qualities.
Some traders may determine their entry or exit based on the crossing of the lines; however, no matter the tools, risk management is an important principle to apply.
source bsc news
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Web 3, also known as "Web 3.0," is a term we hear a lot these days. It means the next Internet that promotes decentralized protocols and seeks to reduce reliance on tech giants such as YouTube, Netflix, and Amazon. But what exactly is Web 3 and why is it being talked about?
The History of Web
Web 1.0 (1989-2005)
Web 1.0 or also called the Static Web or read-only web, was the first and most reliable internet of the 1990s. It consisted of a collection of links and homepages. Web 1.0 only offered access to limited information with little or no user interaction. Web 1.0 lacked algorithms that could filter internet pages making it very difficult for users to find relevant information. Simply put, the old web generation was like a one-way highway with narrow pathways where content creation was done by a select few and information mostly came from directories.
Web 2.0 (2005-present)
The Social Web, or Web 2.0, made the internet much more interactive thanks to advances in web technologies such as Javascript, HTML5, CSS3, etc., which allowed startups to build interactive WebApps platforms. Some call it a "read/write" type of internet. It's a name that comes from computer code that allows you to open and edit files, not just browse. These developments also paved the way for social networking and user-generated content production to flourish as data could now be distributed and shared among various platforms and applications. With this version of the Internet, people can not only consume content, but also create their own and publish on blogs such as tumblers, Internet message boards, and marketplaces such as Craigslist.
Later, with the rise of social media such as Facebook, Twitter and Instagram, content sharing reached new heights. Shortly thereafter, people realized that their personal information was being collected by tech giants and used for targeted advertising and marketing campaigns. Facebook, in particular, has drawn criticism for violating data privacy laws, with a $5 billion fine in 2019. This was the highest ever fine by the FTC.
Web 2 has brought great free services to the world, but people are tired of the new Walled Gardens created by big tech companies and want to take control of their data and content. That's where Web 3 comes in.
Web 3.0 (In The Future)
Web 3 can be understood as the "read/write/own" phase of the Internet. Rather than using a free tech platform in exchange for their data, users can participate in the governance and operation of the protocol. This means that people can be participants and shareholders, not just customers and products.
In Web 3, something like a stock is called a token or crypto asset (virtual currency) and represents the ownership of a decentralized network called a blockchain. If you have enough tokens, you can have a say in the network. Governance token holders can use their assets to vote on the future of decentralized lending protocols, for example.
Characteristics and Features of Web3
As Web 3 becomes mainstream, the way data is handled will shift from centralized to decentralized. Web3 is the future of the internet. It is still very much in development, but it has some very prominent features that differentiate it from other blockchain protocols.
Decentralization
In Web3, this is no longer the case. We will rely on decentralized networks to provide an open, free and decentralized web. We have developed tools that allow us to connect to these new networks, as well as to bring back the power of the original web, through a token-based protocol.
With the development of Web3, a new concept of decentralization is being explored called ‘distributed ledger technology’, also known as DLT. In this, information would be stored based on its content and hence be decentralized.
This would give people more power over their own data. It would mean less power in the hands of corporations like Facebook and Google.
The World Wide Web has always been a web of interconnected information. Now it’s going to be a web of interconnected information generated by dispersed and increasingly powerful computing resources, including mobile phones, desktops, appliances, vehicles, and sensors, that are all owned and operated by individuals rather than large companies.
Trustless and Permissionless
In addition to decentralization and being based upon open source software, Web3 will also be trustless (i.e., the network will allow participants to interact directly without going through a trusted intermediary) and permissionless (meaning that anyone can participate without authorization from a governing body).
If Web 3 is going to run on blockchains or peer-to-peer networks, or a combination thereof, decentralized web applications are called dApps.
Artificial intelligence (AI) and machine learning
The computer understands information the same way that humans do. These technologies are based on Semantic Web concepts and natural language processing. Web 3.0 is the future of the web. It uses machine learning to create smarter user interfaces and content for consumers. Computers will soon have capabilities to create faster and more relevant results in many areas such as drug development and new materials, rather than only targeting specific types of users or advertisements.
Connectivity and ubiquity
Web 3.0 is a network of connected information that is now available from anywhere at any time through many different devices. You can access information and content through the Internet, in your cell phone, on your laptop, and on your television.—one example of which is the Internet of Things.
What can you do with Web3
Web 3 will allow for the spread of collaborative governance structures for products that were once centralized. Memes, works of art, personal social media output, tickets to conferences hosted by famous entrepreneurs, anything can be tokenized. A typical example of a paradigm shift can be found in the gaming industry. Gamers complain endlessly about bugs left by developers in their favorite games, or about the latest patches that have upset the balance of their favorite weapons.
With Web 3, gamers can invest in the game itself and vote on how it will operate. Two major web companies, such as Meta and Ubisoft, have created virtual worlds supported in part by Web3. NFTs (Non-Fungible Tokens) also play a major role in reinventing the gaming industry by allowing players to become irrevocable holders of the items they collect.
Read More About NFT : What is NFT , and How Does it Work?
Criticism of Web3
The main criticism of Web 3 technology is that it falls short of its ideals. It is also said that ownership of blockchain networks is not distributed equally, and tends to concentrate on early participants and venture capitalists. Recently, Jack Dorsey, CEO of Block, and various venture capitalists have sparked a public debate over Web 3, and the topic has been brought to the forefront.
At the heart of the criticism is the idea of a Decentralization Theater. This means that blockchain projects are nominally decentralized, but in reality they are not. Private blockchains, venture capitalist-backed investments, and Decentralized Finance (DeFi) protocols, where few hold the key to hundreds of millions of dollars worth of money, are examples of decentralized theater.
And despite the community of protocols that are supposed to be leaderless, there are clear leaders. For example Ethereum co-founder Vitalik Buterin continues to have on the Ethereum network, even though he's no longer involved in development. Vitalik Buterin himself is a strange and contradictory phenomenon, acting as a spiritual leader in a system without a leader in effect, while retaining an astonishing amount of influence over the leaderless system he creates and oversees.
Even within decentralized financial protocols, things are not so good. Absenteeism of voters is rampant and often relies on centralized infrastructure. Considering that blockchain creation looks like esoteric magic that only the most specialized engineers can do, the barriers to entry for creation are still high.
But despite these problems, Web 3 has a lot of potential. Whether it is too idealistic to realize will be discovered by ordinary users in the next 10 years.
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The first wave of DeFi (Decentralised Finance) applications is starting to take shape and is expected to lead to a series of innovations across the web3 stack—from better privacy and decentralised identity to more efficient smart contracts and other distributed computing technologies. Web3 is the decentralized world of smart contracts and dApps. The hype around it is so big that even though we are still early days, there is already a lot of buzz around it, and people have started building their own blockchain-based applications. DeFi (decentralized finance) developers must ultimately choose whether the technology they design will make the existing economy more efficient or the foundation of the new one.
Defi is a New Breed of Digital Asset
The idea that DeFi's efficiency can replace traditional financial back-end systems is often brought up when thinking about the real-world use cases. The FinTech revolution is just beginning to take shape. Behind DeFi are new ideas and innovations that we've never seen before. Fintech are gonna be in the foreground of it while Defi will take place on its back , replacing TradFi (Traditional Finance) as back-end systems.
The rise of Defi and Fintech will overtook TradFi. There are lots of reasons why we are seeing this trend. One reason is that Defi/Fintech products tend to be lower priced and easier to access than traditional banking products. Traditional financial institutions can be quite difficult to deal with. They have many, many rules and regulations they must adhere to. Additionally, there is a lot of red tape involved in starting a new business and getting money to fund it. This means that most people are forced to continue using traditional financial institutions rather than moving to Defi/Fintech solutions.
Combination of DeFi and Web3
With the arrival of Web 3.0, decentralized finance (DeFi) is getting more and more traction. According to a recent report from DeFi Pulse, DeFi is growing rapidly as a new category within cryptocurrency, and DeFi is now a $50 billion market. Ethereum-based protocols, such as MakerDAO, Compound, and Augur, have been dominating headlines and are generating a ton of interest, but it is still early days for this space. DeFi is still relatively small compared to the traditional banking and lending system.
But Despite that , DeFi has emerged as the most promising application of the Web3 ecosystem. It encompasses a wide range of activities such as DEX ,DApps, Decentralized Governance, and a variety of other related projects and tools. It’s quite difficult to predict how the implementations will be, because there are a lot of factors that we must take account for. However, one thing that almost everyone agrees on is that DeFi is at the intersection of blockchain and the internet. Thus in line with the Web 3 Model.
The combination of DeFi and Web3 will be the most powerful tool for dApps development. The DeFi ecosystem is built on top of Web3 technology. So, there will be strong synergies between DeFi and Web3. This combination will lead to massive adoption of Web3 technology in all kinds of business use cases.
A New Economy for Web 3.0
Developing for a purely new Web 3 native economy is like assembling a lego from zero. It can be done, but it will require a lot of effort. Since there's already an underlying infrastructure behind DeFi , its a logical move to combine those two projects to cut some corners while improving mass adoption rate for both.
It's important to remember that if its just Web 3.0 itself , it will not create a new business revenue or economic model. The current status of web 3.0 is that it has very little traction and very little use cases on the public scale. But this is only because the general public hasn’t yet been educated on the fact that there’s even a need to use blockchain technology to achieve the end goals of the new Web 3.0. And as the general public becomes more educated on the topic, it is inevitable that the usage of decentralized technology and blockchain will skyrocket.
By combining Web 3.0 and DeFi Instead, several new products with a whole kinds of economic models emerges such as Digital Identity (ID), crypto-collectibles (NFT), Smart Contracts (blockchain), DAO (Decentralized Autonomous Organization), Decentralized Applications (DApps), and many others. Each of these economic models has its own strengths and weaknesses, but each one has one thing in common: the majority of them are still in their infancy. While some of these models are more mature than others, the majority are still in the very early stages of development, with the main problem being widespread adoption.
Integration of DeFi and Web 3.0 in Metaverse
The Metaverse represents an opportunity to solve some of the problems of the current internet. The real opportunity for the Metaverse will come when we have all the decentralized applications that live in the Ethereum network. An Ethereum-powered metaverse? It's certainly a very cool idea. However, it's hard to imagine how anyone could get started in the near future without a working prototype. I don't know if you've noticed, but all the tech people are using blockchain-based technology for some sort of purpose. They are not just using it as a buzzword.
As Blockchain technology develops and becomes widely used in financial systems, blockchain has the potential to revolutionize the entire financial system, and its applications in finance are only just beginning. With the rise of DeFi, many people are starting to realize the importance of decentralized finance and are looking for new ways to use the technology. Metaverse, which is one of the most promising projects built on top of the Ethereum blockchain, has been able to create a very strong synergy between the two, thanks to the combination of Decentralized Finance and Web 3.0.
KunciCoin in its roadmap are combining all of these subjects into one single system. With just one wallet you can connect to many kinds of DApps. With blockchain on its back created on BSC Platform and a massive list of DApps in front ot it. Combining both DeFi and Web 3.0 model as one platform in its Metaverse journey.
GameFi as a New Model
Given the rise of social media, MMO (massively multi-player online) gaming, and virtual reality/augmented reality, the concept has been growing for some time. However, the usage of the word itself has become new, as NFT and DeFi have become more popular, and the economic meaning of this concept has become clearer.
GameFi is probably a more concrete example. Games have long attracted players through story/narrative, gameplay mechanics, and visuals/graphics. Games like Axie Infinity brought a fourth element to it. It's an in-game economy.Whenever possible, game developers use templates, modifiable frameworks, and relocatable infrastructure to create the previous three elements. If game makers want to add an economic layer, they are likely to succeed if they have a relocatable DeFi infrastructure.
KunciCoin partnered with KunciGames and KunciNFT are also joining this big industry. Creating a lot of games and combine it with DeFi as a way to embrace the GameFi industry. The game studio is focusing on creating IP ecosystem using Kunci universe lore and its world setting (“Kunciverse”). Kunci Games is currently developing their own title, series and game along with its plan to publish multiple A/AA game titles from Indonesian local developers to populate our gaming ecosystem. The DeFi platform on DoyanRebahan also helping this project to grow by inputting DeFi system in it.
GameFi highlights the fact that it is impossible to realize a monolithic DeFi marketplace where market governance is tied to the same mechanism that governs protocols.
A New Approach as a Solution
The old way is to get carried away with lobbying governance and wasting effort on devoting developer resources to DeFi integration. This will not allow it to expand beyond the financial base of the new economy.The new approach is to integrate it with Web 3.0 , allowing each project to leverage its core capabilities and focus on developing the products and services people want.
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Aptos is a new new layer 1 protocol that aims to outshine Solana and Ethereum.
The APT team has raised $350 million from venture capitalists.
To date, the network has gained over 20,000 node validators on the Aptos testnet.
Rising Interest in Aptos Labs and its Layer 1 Blockchain
Already, interest in the Aptos is very high, with 20,000 validator nodes on the testnet. That’s more than 10 times the number of validators on the Solana mainnet.
The interest is understandable due to the enormous development of the network for about three years. More than 350 developers worldwide are working on the Aptos blockchain.
Besides its high scalability and reliability, the Aptos network also has another layer of security. All assets can be handled separately on-chain thanks to its programming language.
This means copying or dropping an asset after it has been created is impossible. As a result, common attacks on Ethereum, such as re-entrancy, cannot happen on the network.
The rising interest in the Aptos blockchain means that it will launch at a higher valuation than most Layer 1s. This is not only because of the hype around it but also the funding from venture capitalists.
Meta employers from the failed Diem project founded Aptos Labs. It has already raised $350 million in funding from some of the top venture capitalists in the crypto market. These include Andreessen Horowitz, FTX ventures, Jump Crypto, OAK HC, Coinbase, Tiger Global, Binance Labs, and many more.
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