A Metaverse is some alternate computer version of our Universe. One of the earliest manifestations was Second Life which came on-line in 2002 and is still running. More recent entries into the field such as Decentraland and The Sandbox offer the same sort of experience but within a Blockchain platform and using bespoke crypto currencies. …
WorldCoin (WLD) has launched across multiple countries with the promise of free crypto in exchange for your retina scan. In the UK scans are currently only on offer at 2 locations both in London and with an on-line booking system for a 30 minute appointment. In Kenya the offer was suspended because of the crowds …
WorldCoin – A currency, an ID tag, money for nothing? Read More »
SecureWeb3 has already discussed the issue of copyright relating to the original source work behind NFTs. A more subtle issue comes from the use of AI generated artwork to create and sell NFTs. These AI engines are not completely random. Their algorithms are trained on existing art styles and take user prompts to create ‘new’ …
We use domain names to access web pages although the actual location where these pages reside is a set of numbers; the IP address. Most page hosts buy a domain name and the provider bundles in the IP address. With some cunning maths they can run several different domain names off a single IP address …
DApps are distributed applications running on the web facilitating the transfer of funds, goods or services. In broad terms a DApp is a Smart Contract but although they make use of Blockchains some aspects of DApp functionality may involve centralised server hosting or manual/automated intervention by the DApp source. A pure Smart Contract should be …
Provenance is a key term in the art world. Is a piece of art what it purports to be? Tracing where it came from and who created it will determine validity and worth but this is not always straightforward. NFTs ought to be easy to track and trace but they are as susceptible to copies …
Stablecoins such as Tether are cryptocurrencies whose value is pegged to physical real world currencies. Their value should fluctuate in the same way as their linked currency. This should make a stablecoin relatively stable (the clue is in the name). There is a lower risk to investing in stablecoin than a virtual currency such as …
Gas Fees are transaction fees that crop up in many Blockchain events including minting NFTs. The official explanation is that the people running all the computers storing and validating Blockchain data expect to be paid for their trouble. This income will partly be used to fund the power used by the Blockchain servers and explains …
A significant financial element of trading in NFTs is the gas fee charged on minting and transactions. The fees work their way through the cryptocurrency system and are used to finance the computers manipulating the Blockchain tokens. Bitcoin and (originally) Ethereum use Proof of Work (POW) to ensure that nodes of data are valid and …
