NFT News by Thebittimes.Com

Does your RNG have sufficient randomness? Is it secure against tampering? Is it decentralized? These qualities are critical to building a viable metaverse. Quantum mechanics tells us that what looks like a highly predictable and orderly universe is built on a world of unpredictability and mere probability. While the quantum world looks bizarre, it can be understood and even harnessed for technology like semiconductors, LEDs, and quantum cryptography. Something similar can be said about randomness in the metaverse. What looks like a system built on random values produced by random number generators (RNGs) is, in fact, based on programs with a method behind them that can be understood — for good or ill. The pivotal role of random numbers Random numbers are of great importance in a number of applications, including games, security systems, decentralized autonomous organization (DAO) governance, and nonfungible token (NFT) generation. If your game cannot access randomly generated numbers,...

Locked paywalls and high fees are defining characteristics of traditional academic research. DeSci can lower the barriers to access. Academia and science are both in the throes of a crisis, marked by several inefficiencies directly impacting our scientific prowess and research capabilities. The subject of stagnation within universities and academic institutions is taboo, and there is no place in this system for dissenting intellectuals who challenge the status quo or the quality of scientific research. Decentralized science (DeSci) aims to disrupt these systems for good reason. DeSci paired with blockchain technology has the potential to upend existing funding schemes and enhance collaboration between stakeholders in scientific endeavors. Access to scientific reports and Research is a highly contentious issue. In the digital age, the scientific publishing industry has created a fortified oligarchy that threatens the integrity of scientific innovation. The sector benefits from publicly...

Artificial intelligence is going to be a key component in cracking down on the growing number of counterfeit non-fungible tokens (NFTs). Beyond all the good a permissionless internet promises, it also makes it convenient for anyone to freely mint pirated nonfungible tokens (NFTs). There are in fact over 90 million fake copies of NFTs. Because in a permissionless system, what’s to stop bad actors from creating copymints to scam unsuspecting users or damage a brand’s reputation? Only the top 20 most copied NFT projects account for 8 million fake copies across NFT marketplaces. Source: Optic.xyz Since NFTs are valuable only because of their uniqueness, such copycat NFTs are fundamentally worthless for consumers. They imply a massive reputational cost besides financial loss for buyers and creators. This is particularly detrimental to a nascent and emerging industry like NFTs.  The “nonfungibility” and rarity of NFT assets are pivotal to their value proposition. These are the qualities b...