A.I. Is Not A Threat To Crypto. Or Is It

GM Readers!📪 It's BitDegree Insider, and what do you say about some web3 tea & biscuits?

⭐️Today's selection:

• 🤖A.I. - Crypto Friend Or Enemy?
• 🎮Epic Games News
• 🧋Wednesday Bubbles
• 👌Selected Meme of The Day
• 📰Bite-Sized News

A.I. - FRIEND OR ENEMY?

OpenAI have just introduced a new version of ChatGPT, and it's called GPT-4. 

The developers promised that the AI has now reduced the number of logical errors and better searches for information.

So, Coinbase's Conor Grogan put it to use immediately. To see how good this new GPT-4 really is, he threw in an active Ethereum contract into the new A.I. tool.

The chatbot identified a number of security vulnerabilities and pointed out areas where the contract could be abused.

Not only this was executed very quickly, but GPT-4 accurately pointed out the exact weaknesses that were exploited back in 2018, when this smart contract got hacked. 

As a result, Grogan concludes, "AI will eventually help make smart contracts more secure and easier to create."

This means it will solve one of the two biggest obstacles to mass adoption.

But... GPT-4 will be accessible to malevolent people as well. Things. are. about. to. get. interesting.

TL;DR: OpenAI have just introduced a new version of ChatGPT, and it's called GPT-4. It's been tested out by scanning an active Ethereum smart contract. The A.I. immediately found its weaknesses. This signals that A.I. could be used to accelerate mass adoption and solve crypto problems.

EPIC GAMES

Good news, gamers.

Epic Games, the developer of Fortnite, plans to add nearly 20 more crypto games to its marketplace by next year.

The brand currently has five crypto games, none of which were developed or published by Epic itself.

Blankos Block Party, a free-to-play multiplayer party game, was launched by Web3 gaming studio Mythical Games and has proven to be successful.

Epic Games will learn more about the potential of the crypto gaming industry once more games are launched on its platform.

This might accelerate the overall growth of the GameFi world.

Last year was challenging for the blockchain gaming industry, but investments in blockchain games and metaverse projects have had a solid start in 2023.Epic Games is intolerant of any "bad behavior" from gaming projects and is aware of the reputational weakness that some crypto ventures carry.

So this might be what the web3 gaming industry needs right now.

A developer that knows what they're doing, a good idea, and high standards. If it works out... Everyone will imitate them.

TL;DR: Epic Games, the developer of Fortnite, is working on 20 blockchain-based games. This might really speed up the GameFi industry, and its growth.

WEDNESDAY BUBBLES

Ah yes. The color of spring. GREEN!

The #1 gainer in the past week is Stacks, and their token STX.

Well, we talked about them a lot already, they seem to be a reoccurring character. But never mind, here's a reminder:

Stacks is a Layer 1 blockchain protocol that is built on top of the Bitcoin blockchain as a virtual layer for smart contracts, DeFi, NFTs, and various decentralized applications. Their token is called STX

Though, worth mentioning that besides yesterday boost of Bitcoin, there is something else that contributed to the boost of Stacks. These factors are:

1. More exchanges decide to start listing STX.
2. The number of transactions in the bitcoin mempool exceeded the three-year high.

Yeah, mempool is not a meme pool.

The term "mempool" in Bitcoin refers to a place where unconfirmed transactions are stored before being added to the blockchain. When a lot of people are trying to make transactions on the Bitcoin network, the mempool can become congested, leading to delays and higher fees.

So when it's said that the "number of transactions in the Bitcoin mempool exceeded the three-year high," it means that there are currently a lot of unconfirmed transactions waiting to be added to the blockchain.

This can happen for various reasons, such as increased demand for Bitcoin transactions. That's quite an obvious one though.

Another reason for STX's glow-up is the fact that a venture capital firm decided to double investments into projects building on Bitcoin. This is good news for Stacks.

Essentially, previously the investments were focused on investments in projects building on Stacks, now they rebranded and will aim to invest in all the projects building on Bitcoin.

This means the whole thing is about to receive even more traffic. That will lead to... Mass adoption. Here's a lovely chart by this venture capital, showing the expected Bitcoin growth.

SELECTED MEME OF THE DAY

BITE-SIZED NEWS

• Polygon Labs and Unstoppable Domains to Introduce Top-Level Domains. This will allow users to make personalized Web3 domains.
• National Australia Bank has Successfully Executed a Stablecoin Transaction. The transaction used an internal stablecoin minted on the ERC-20 standard.
• Circle's CEO Confirms that the Firm has Access to $3.3B USDC Reserves at SVB. Of course the USDC dollar peg took a hit from this one.