Guides

What is NFTBooks (NFTBS) All About?

Published

2 years ago

February 1, 2022

NFTBooks (NFTBS) is a project dedicated to promote NFTs in the form of books, magazines, articles, ebooks, and other publications. The idea claims to be a marketing tool for authors, allowing them to sell their works and receive passive income, meaning the author will profit every time someone reads it. The NFTBooks (NFTBS) platform also aims to enable people to read books for a fraction of the price.

The Way NFTBooks (NFTBS) Works

NFTBooks intends to promote the popularity of books while also addressing the problem of paper waste in the book industry. The creators of NFTBooks explain in their official whitepaper that while a person can view hundreds of movies for $20, they cannot buy numerous books for the same amount of money. Instead, people choose for pirated editions, which is harmful to the author’s work as well as the book business as a whole.

As an extra option, NFTBooks intends to support authors by promoting their books to readers who will be able to read them for a fraction of the cost of purchasing them physically. Furthermore, the profit that the authors receive from their book readers is ongoing.

The NFTBooks ecosystem is made up of five parts: author, translator, lessor, reader, and investor.

Author

Each author acts as their own publisher. This can save a lot of money when it comes to allowing authors to approach users. Despite the fact that any author can publish their book for free, the community will choose which books are published in order to maintain the demand-supply balance.

Because the project is built on cryptocurrency, it will be decentralized. So that’s why a person’s actions cannot have a negative effect on the publication of a book. The author is the first audience for the NFTBooks project. The authors have the right to book publication as well as earnings on sales of their works. In order for this solution to be balanced, the author must be capable of increasing their worth. After that they will be able to commit enough time and effort to support the project and give back to the community.

Translator

Translators make books and authors accessible to anybody in any language, anywhere in the globe. The first thing that translators shoud do is registering with the system’s Author in order to upload the translation. You won’t have to worry about the quality of the translation because the community of readers will help you judge it. If the quality of the translation is poor, members of the community will notify you.

The Translator gets paid the same as the Author, however because the Author is the essence of the book, the value they are paid is determined by the Author. The Translator is the one who conveys passionate love throughout the world. The commission is set by the Author to decide the amount of commission the Translator will receive from the beginning.

The value between them can only be decided after the contract is signed by them, which serves to ensure fairness and clarity.

Lessor

Lessors buy books from authors or other Lessors. They make money by renting out their book rights or selling their works to the public. Becoming a Lessor is not a hard thing if the economic conditions are right. This audience is crucial to the success of NFTBooks. They support the author in the way of earning money while also offering readers to read for a lower price.

Reader/Borrower

In terms of macro value, this is the group that will profit the most from the project; as NFTBooks spreads, more Readers will be able to borrow books at convenient prices as Lessor competition increases.

As a result, when the amount of people who read their books increases, they will make more money. Basically, increased readership means increased author earnings.

Investor

These are the people who want to help out with the project. Whether they are helping the community or investing for personal gain, they have a high prestige in the NFTBooks community. Books can be rented, purchased, or published with tokens.

They earn money by holding tokens in their wallets, transacting online, or buying books from Authors using tokens. Every network transaction earns them a commission, and the number of coins in their wallet grows until they make a profit.

What is NFTBS Token?

Binance Smart Chain token $NFTBS was launched in June 2021. One important feature is the built-in redistribution system, which has a maximum supply of 100 quadrillion.

As an incentive, existing $NFTBS holders receive 2% of each transaction (buy or sell). Thanks to this fact, their bank accounts continue to grow on their own. The $NFTBS token undergone a security inspection to increase the trust of its holders. The $NFTBS token will be the only currency that can be used to create, claim, buy, and sell books.

A third-party firm checked the source code to ensure that NFTBS holders have faith in the project.

Guides

What is Baby AGI: A Comprehensive Guide For Beginners

Published

15 hours ago

August 15, 2023

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.
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.)

Guides

What is Wrapped?

Published

5 months ago

March 28, 2023

admin

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.

Guides

What is Wash Trading?

Published

5 months ago

March 28, 2023

admin

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.