Guides
What is Derace (DERC) All About?
Published
2 years agoon
By
Efekan Ozdan
Derace presents itself as a “fully NFT horse racing ecosystem” that seeks to raise the standards in the betting and gaming industries. Derace allows you to buy and breed NFT horses with unique features, gamble on NFT horse races in real time, and build your own NFT hippodrome to stage races and profit from.
On July 26th, the project released their IDO on DAO Maker. The whole platform is expected to emerge in the first half of 2022, with virtual horse betting beginning in the second half of the year.
Founders of Derace (DERC)
Derace’s core team that consists of eight people is entirely made up of Lithuanians. The project’s CEO is Adomas Juodiius. Prior to that, he was the founder and CEO of Media Bubbles, a Vilnius-based marketing business that offered digital presence, web architecture and security solutions, and digital marketing to e-commerce stores and other web-based platforms. Adelaida (last name unspecified), the co-founder of Media Bubbles and now the CMO at Derace, continues to work with him at Derace.
Hassan Sheikh, co-founder of DAO maker, and angel investor Michael Kam, co-founder of Asia-based blockchain VC firm Double Peak, are among the team’s advisors.
How Is Derace’s Network Protected?
DERC is an ERC-20 token, which means it runs on Ethereum’s blockchain.
Ethereum is secured by a huge decentralized network of miners and operates on a proof-of-work consensus process. The Ethereum blockchain is protected from attacks by the roughly 11,000 Ethereum nodes.
Because of its standardized tokens, dynamic developer community, and blockchain’s robustness, Ethereum is the most preferred blockchain for new tokens to launch on. NFT projects, such as Derace, frequently launch on Ethereum since it provides the most visibility and exposure to new investors.
What Sets Derace (DERC) Apart From the Competition?
Derace intends to challenge three multibillion-dollar industries at the same time: video gaming, horse racing, and gambling. The project sees a huge opportunity in the lack of gambling-themed video games. Horse racing, on the other hand, is troubled by corruption scandals and a lack of digitalization when compared to other sports. Furthermore, because of delayed transaction settlements, users have lost faith and interest in centralized gambling systems.
Derace delivers a completely fair and transparent customised gaming experience. Players are not limited to being observers; instead, they may practically own the process by purchasing one-of-a-kind NFT horses. This leads in a more customised gaming and gambling experience lacking any sort of restrictions imposed by authorities and bookmakers, as well as cheaper and quicker transactions.
In addition, Derace offers participants the opportunity to work as a bookmaker. The stakes of hippodromes, or horse racing tracks, are controlled by the community. Bookmakers benefit from the fees and bets placed by other participants prior to the event.
In late 2022 or early 2023, Derace hopes to introduce the world’s first cash flow generating ETFs for NFTs. The ETFs will be based on a basket of horses or hippodromes that will be used in races to increase revenue.
Derace allows users to enjoy the best of both worlds of gaming and gambling, mainly excitement and the potential for profit.
Guides
What is Baby AGI: A Comprehensive Guide For Beginners
Published
13 hours agoon
August 15, 2023By
admin
Artificial Intelligence (AI), an omnipresent force subtly weaving through the fabric of modern life, has ushered in a new era of innovation and automation. From virtual assistants like Siri and Alexa to the sophisticated recommendation engines driving platforms like Netflix and Amazon, AI’s impact is unmistakable. A groundbreaking stride in AI’s evolution is the emergence of Baby Artificial General Intelligence (AGI), an advancement poised to reshape our existence by automating a diverse spectrum of tasks. This article delves into the essence of Baby AGI, its mechanics, and the boundless vistas it opens for application.
Introducing Baby AGI: Pioneering Autonomy and Efficiency
Laying the foundation for an era of self-sustaining AI, Baby AGI is a groundbreaking autonomous agent meticulously crafted using the Python programming language in tandem with the OpenAI and Pinecone APIs. This innovative entity possesses the prowess to independently initiate and execute tasks, effectively revolutionizing workflow dynamics. Much akin to its human counterparts, Baby AGI demonstrates the capacity to learn, comprehend, and execute tasks spanning a myriad of domains, distinguishing itself from the narrower confines of specialized AI.
Exploring Baby AGI’s Boundless Potential
While the infancy of Baby AGI’s journey is undeniable, the scope of its applications is nothing short of prodigious. From crafting literary marvels to orchestrating intricate travel plans, Baby AGI promises the ability to undertake tasks demanding a human-like grasp of context and nuance. Crucially, it is imperative to grasp that Baby AGI doesn’t supersede human intellect; rather, it serves as an invaluable tool for task automation, driving productivity gains across domains.
Embarking on the Journey: Navigating the Prerequisites
Utilizing Baby AGI mandates a trifecta of essentials:
- Adequate Hardware: While specific hardware prerequisites remain nebulous, a computer boasting a minimum of 4GB RAM is advised to ensure seamless operations. Optimal hardware guarantees expedient task execution.
- API Key Activation: Empowering Baby AGI necessitates procuring API keys from OpenAI and Pinecone. This entails simple steps for key generation.
- OpenAI API Key Generation:
- Access platform.openai.com, then log in or establish an account.
- Click the profile icon, selecting “View API Keys.”
- Create a new secret key with a designated name.
- Pinecone API Key Generation:
- Visit pinecone.io and access your account or create a new one.
- Navigate to “API Keys” on the left-hand side, then proceed to generate a new API key.
- OpenAI API Key Generation:
- Stable Connectivity: Unlike offline AI tools, Baby AGI thrives on an unwavering internet connection, underscoring the need for dependable connectivity.
A Comprehensive Guide to Harnessing Baby AGI’s Potential
The journey commences by embracing the steps outlined below:
Step 1: Python Installation
Begin by installing Python, an essential programming language requisite for executing Baby AGI. Visit python.org, acquire the latest version of Python, and follow platform-specific installation guidelines.
Step 2: Acquiring Baby AGI Files
Through your terminal (Mac/Linux) or Command Prompt (Windows), input “git clone https://github.com/yoheinakajima/babyagi.git” and press Enter. This directive triggers the download of imperative Baby AGI components from the designated GitHub repository.
Step 3: Package Installation
Within the downloaded directory, execute “pip install -r requirements.txt” in the terminal or Command Prompt. This single command orchestrates the installation of essential packages, forming the bedrock of Baby AGI’s operational architecture.
Step 4: Configuration Precision
Upon successful package installation, locate and rename the “.env.example” file to “.env”. This configuration file is instrumental in establishing the operational context for Baby AGI.
Step 5: Enabling API Integration
Edit the renamed “.env” file using a text editor to input your OpenAI and Pinecone API keys. These keys imbue Baby AGI with the prowess to interact with external services, accentuating its capabilities.
Step 6: Igniting Baby AGI
Within your terminal or Command Prompt, input “python babyagi.py” and hit Enter. This catalyst sets Baby AGI in motion, ushering in its active presence and potential for interaction.
Step 7: Catalyzing Interaction
Elevate Baby AGI’s prowess by offering input that encapsulates your AI agent’s designation, the focal domain, and the inaugural task you seek to delegate. This framework defines its mission, enabling adept execution guided by your specifications.
A Glimpse of Baby AGI in Action
Illustrating Baby AGI’s potential, envision a scenario where it functions as a cyber insurance underwriter, identifying vulnerabilities primed for cyber insurance claims. Tasked with grasping cyber insurance nuances and dissecting potential linked.com issues, Baby AGI exemplifies task automation at its zenith.
Navigating Current Usage and Future Trajectories
Though yet to infiltrate commercial applications, Baby AGI captivates researchers and pioneers. Yohei Nakajima’s Baby AGI project harnesses machine learning and reinforcement learning, mirroring human growth patterns. Foreseeing the dawn of advanced educational tools and more sophisticated chatbots, the path forward entails overcoming challenges of safety and ethics.
Concluding Remark
Baby AGI crystallizes the zenith of AI evolution, steering us towards the realization of AI agents mirroring human cognition. Pioneering the realm of task automation, this nascent marvel harbors potent potential. Though in its infancy, Baby AGI pledges to empower and reshape the landscape of productivity.
(Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect the official policy or position of Forbes.)

Wrapped is a term used in the cryptocurrency industry to refer to a digital asset that represents another asset or currency on a different blockchain. This allows users to trade or use assets on one blockchain, while still retaining the value of the asset on its original blockchain.
For example, the Wrapped Bitcoin (WBTC) is an ERC-20 token that represents Bitcoin (BTC) on the Ethereum blockchain. When a user wraps their BTC into WBTC, they receive an equivalent amount of WBTC on the Ethereum blockchain. This allows them to use BTC in Ethereum-based decentralized applications (dapps) or trade BTC on Ethereum-based decentralized exchanges (DEXs) without needing to transfer the actual BTC to the Ethereum blockchain.
The process of wrapping an asset involves locking the original asset on its blockchain and minting an equivalent amount of the wrapped asset on another blockchain. The wrapped asset is then pegged to the original asset’s value, usually through the use of a smart contract. When a user wants to redeem their wrapped asset for the original asset, the wrapped asset is burned, and the original asset is released back to the user.
Wrapped assets are useful because they allow for interoperability between different blockchains and can increase liquidity and trading volumes for certain assets. They can also enable new use cases for assets that were previously restricted to a specific blockchain.
In addition to WBTC, there are many other wrapped assets, including Wrapped Ether (WETH), Wrapped Litecoin (WLTC), and many others.

Wash trading is a practice that involves buying and selling a cryptocurrency asset for the purpose of creating the impression of greater market activity and trading volume than actually exists. It involves a trader simultaneously buying and selling the same asset to manipulate the price and create a false sense of demand and liquidity.
In the context of cryptocurrencies, wash trading is a fraudulent activity that can deceive investors and traders into thinking that a particular asset is more popular and valuable than it really is. This can lead to an artificial price increase, which can be exploited by the traders involved in the wash trading scheme.
Wash trading is typically used by unscrupulous traders and market manipulators who want to artificially inflate trading volumes or prices to attract other investors or traders to buy the asset. It is also sometimes used to manipulate prices to trigger stop-loss orders or liquidations, which can cause panic selling and create opportunities for the wash traders to profit.
Wash trading is illegal in traditional financial markets, and many jurisdictions have laws against it. In the crypto industry, some exchanges and regulators have taken steps to crack down on wash trading, including implementing monitoring tools to detect and prevent it.
Investors and traders should be cautious of assets with unusually high trading volumes, as they may be subject to wash trading. It’s important to do your own research and use reliable sources of information before investing in any cryptocurrency.


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