Connecting Builders: Events in Bangkok Focused on Data, AI, and Crypto

The rapid development of artificial intelligence (AI) has led to significant advancements across various sectors, yet it comes with a hefty environmental price tag due to its high energy consumption. AI models, particularly those utilizing neural networks, require substantial computational power, which translates to enormous electricity usage. For example, running ChatGPT in early 2023 consumed approximately 564 MWh of electricity daily, equivalent to the energy needs of around 18,000 U.S. households. This energy demand is primarily driven by complex floating-point operations essential for neural network computations, making the search for energy-efficient solutions critical as AI systems grow in complexity. Enter the L-Mul (Linear-Complexity Multiplication) algorithm, a groundbreaking development that promises to significantly reduce the energy burden associated with AI computations. L-Mul operates by approximating floating-point multiplications with simpler integer additions, which can be integrated into existing AI models without the need for fine-tuning. This innovative approach has demonstrated remarkable energy savings, achieving up to 95% reduction in energy consumption for element-wise tensor multiplications and 80% for dot product computations. Importantly, this energy efficiency does not compromise the accuracy of AI models, marking a significant advancement in the quest for sustainable AI. The implications of L-Mul extend beyond mere energy savings; it enhances the performance of AI models across various applications, including transformer models and large language models (LLMs). In benchmarks such as GSM8k and visual question answering tasks, L-Mul has outperformed traditional floating-point formats like FP8, showcasing its potential to handle complex computations efficiently. As the demand for AI continues to rise, L-Mul stands out as a pivotal solution that not only addresses the energy crisis associated with AI but also paves the way for a more sustainable future in technology development.

A prominent crypto strategist, Ali Martinez, has recently expressed a bullish outlook on two lesser-known altcoins that he believes are on the verge of significant price increases. The first altcoin he highlights is Filecoin (FIL), which serves as the native asset for a decentralized file storage network. Martinez notes that FIL has been respecting its long-term support level, positioning it for a potential rally. He suggests that if FIL can break through a critical resistance level, it could soar to $30, representing a staggering 700% increase from its current price of $4.32, which has already seen a 7% rise in the past day. In addition to Filecoin, Martinez is also optimistic about the community token NOT, associated with the Telegram-based tap-to-earn mining game Notcoin. He points out that NOT has recently broken out of a falling wedge pattern, a bullish reversal signal. With this breakout, he projects that NOT's price could increase by 76%, reaching $0.012 from its current value of $0.0076. This positive sentiment around NOT indicates a growing interest in gaming-related cryptocurrencies, which have been gaining traction in the market. Martinez's analysis provides insight into the potential upside for these altcoins, but he also emphasizes the importance of conducting thorough research before making any investment decisions. As the cryptocurrency market remains highly volatile, investors are reminded to exercise caution and consider the risks involved in trading digital assets. With both Filecoin and Notcoin showing promising signs, they may be worth watching for traders looking to capitalize on emerging opportunities in the crypto space.

On November 12, 2024, zkVerify announced the launch of a decentralized proof verifier for Space and Time’s Proof of SQL ZK coprocessor on the SXT Chain. This innovative solution aims to enhance the speed and cost-effectiveness of SQL data verification, particularly for data-intensive applications. By utilizing zkVerify’s capabilities, organizations can validate their ZK-proven SQL queries more efficiently than traditional Ethereum verification methods. The integration of zero-knowledge proofs allows for secure validation of SQL queries against data stored on the SXT Chain, ensuring accuracy without the need for a central authority. The SXT Chain addresses the limitations of traditional smart contracts, which often struggle to access external or historical transaction data. By functioning as a decentralized database, it aggregates data from major blockchains such as Ethereum, Bitcoin, and Polygon, enabling trustless, cross-chain data processing. This capability allows smart contracts to efficiently query and analyze data, which is crucial as concerns about data manipulation and AI-generated content continue to rise. With zkVerify’s technology, organizations can prove data integrity while keeping the underlying information confidential, a significant advancement for sectors like finance and healthcare. Rob Viglione, CEO of Horizen Labs, emphasized that zero-knowledge proofs transform trust in digital systems by providing mathematical assurance of data integrity. The zkVerify platform is designed to facilitate rapid and cost-effective verification of ZK proofs across various blockchain networks, thereby enhancing the performance of existing systems and unlocking new opportunities within the Web3 ecosystem. As the verifier becomes available for testing on the zkVerify testnet, it paves the way for more sophisticated decentralized applications, including DeFi platforms and advanced data analytics solutions.

The cryptocurrency market is witnessing a significant surge, particularly in altcoins, as the total market cap, excluding Bitcoin and Ethereum, has surpassed $750 billion. Among the standout performers are Akash Network, Cronos, and Render, each showing promising price movements and potential buying opportunities. Investors are keenly observing these tokens as they navigate through their respective bullish trends, indicating a robust interest in altcoin investments. Starting with Akash Network (AKT), the token has demonstrated a strong breakout from a falling channel, currently trading at $3.30 after a notable 12.11% intraday gain. This rally has propelled AKT to a 52% increase over the past week, surpassing the 38.20% Fibonacci retracement level. Analysts suggest that the price could extend towards the psychological mark of $5, with a long-term target at $12, indicating a potential upside of over 250%. This positions Akash Network as a compelling option for investors looking for growth. Cronos (CRO) has also made headlines with a remarkable 60% price increase in just two days, following a 72% recovery last week. Currently priced at $0.1195, it is nearing the critical psychological level of $0.20. The token is challenging the 23.60% Fibonacci level at $0.2152, with expectations of a bullish breakout that could push the price to $0.40, representing an upside potential of more than 100%. Meanwhile, Render (RNDR) is trading at $7.33, having surpassed the $7 mark with a 75% price jump. Analysts predict that it could reach new highs above $13.27, showcasing an upside potential of over 80%. These developments highlight the dynamic nature of the altcoin market and the opportunities it presents for investors.

Kraken, one of the leading cryptocurrency exchanges, is set to launch two new tokens on November 12, 2024, at 14:00 UTC: the Aethir native token (ATH) and the meme coin Apu Apustaja (APU). This announcement has generated significant excitement within the crypto community, particularly as Kraken prepares to add 17 new listings, including several meme coins. The Aethir token, which has recently seen a price increase of 17.14% in the past 24 hours, is currently trading at $0.07, reflecting a 12.29% rise since Kraken's announcement of its listing. The Aethir token, launched earlier this year on June 12, 2024, plays a crucial role in the Aethir DePIN stack, facilitating payments for GPU resources in AI and cloud gaming. With a market cap exceeding $280 million, Aethir aims to democratize access to GPU resources through its decentralized cloud infrastructure. In contrast, the Apu Apustaja meme coin, which started as an internet meme, has seen a slight decline of 3% in the past 24 hours, trading at $0.000982. Despite this, APU maintains a market cap of $326 million and a robust community following. The upcoming launch of ATH and APU on Kraken is a significant event for both tokens, as it provides them with increased visibility and trading opportunities. The Aethir token's recent performance, particularly its 54.41% increase over the past week, suggests that it may benefit from the ongoing Bitcoin rally, which has reached an all-time high of $89,604. As the crypto market continues to evolve, the success of these tokens will depend on their adoption and the overall market sentiment surrounding cryptocurrencies.

In a significant move to enhance security and reliability in decentralized computing networks, io.net, a decentralized physical infrastructure network (DePIN) specializing in GPU clusters, has formed a partnership with NovaNet, a leader in zero-knowledge proofs (ZKPs). This collaboration aims to develop a groundbreaking solution known as zero knowledge GPU identification (zkGPU-ID), which will provide cryptographic assurances regarding the authenticity and performance of GPU resources. By leveraging NovaNet's advanced ZKP technology, io.net will be able to validate that the GPUs utilized within its decentralized platform not only meet but potentially exceed their advertised specifications, thereby enhancing user trust and resource reliability. Tausif Ahmed, the VP of Business Development at io.net, emphasized the importance of this partnership, stating that optimizing coordination and verification across a vast network of distributed GPU suppliers is crucial for building a permissionless and enterprise-ready decentralized compute network. The integration of NovaNet's zkGPU-ID will allow io.net to continuously validate and test its GPU resources on a global scale, ensuring that customers can confidently rent GPUs that are reliable and meet their specified needs. This initiative represents a significant advancement in the decentralized compute infrastructure, aiming to alleviate concerns regarding resource authenticity and performance. Moreover, the zkGPU-ID protocol utilizes NovaNet's zkVM (zero-knowledge virtual machine) technology, which plays a vital role in generating and verifying cryptographic proofs of GPU specifications at lower costs. Wyatt Benno, Technical Co-Founder of NovaNet, highlighted the necessity of ZKPs operating across various devices and contexts for privacy and local verifiability. The zkEngine from NovaNet rigorously tests and identifies GPUs within io.net's platform, creating a ZKP that ensures GPU integrity. This partnership sets a new standard for transparency, reliability, and security in decentralized GPU compute networks, marking a pivotal step forward in the industry.