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Mastodon is making it easier for newcomers to create an account on the platform. On Monday, the decentralized network announced that it will start directing new users to create an account on mastodon.social instead of prompting them to choose from one of the thousands of other servers on the platform.

This update doesnt mean that Mastodons taking away the ability for new users to sign up for an account in a specific community, though. It will simply present two separate options on its signup page: Join mastodon.social or Pick my own server. The services flagship mastodon.social server is the platforms largest, but the network notes that users can swap instances at any time.

Prior to this change, creating a Mastodon account wasnt as simple as just entering your email and making a password. Mastodon originally had users choose which instance, or community, theyd like their account to live on. For those new to the platform, this step is a bit intimidating, especially now that Mastodon now has over 12,000 instances users can join. Should you join mastodon.world or mastodon.online? Or should you go to something more focused, like birdon.social? It could be overwhelming and confusing for a new user to pick.

If we only attract people who already care about decentralization, our ability to make decentralization mainstream becomes that much harder

Still, the change could frustrate existing users and server operators who want to see Mastodon remain committed to its promise of being a decentralized platform, which is not governed by any one entity. However, Mastodon CEO Eugen Rochko says this change is necessary to help new users get past the sign-up process and more quickly engage with others.

We believe its important for Mastodon to be good as a product on its own merits, and not just because of its ideology, Rochko writes in the post announcing the change. If we only attract people who already care about decentralization, our ability to make decentralization mainstream becomes that much harder.

In addition to a new onboarding experience, Mastodon is also rolling out quote posts, improved content and profile search, and groups. Rochko also says the platform is working on improving its moderation tools, as well as removing friction from decentralized features.

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Mastodon is making it easier to create an account - The Verge

Since Bitcoin was invented, hundreds of cryptocurrencies have been created for various uses. A relatively new network, Algorand, uses a native cryptocurrency, ALGO, to enable the convergence of traditional and decentralized finance. Participants can create tokens and smart contracts representing new and existing assets on the Algorand platform. You may already have noticed the algorand coin pricealongside others if you are familiar with the crypto market.

The Algorand Foundation oversees the development and funding of this project and its cryptocurrency. While that is happening, the protocol was designed to facilitate a decentralized environment. Algorand is popular for its advanced features, novel technology and fast transaction speeds.

Are you interested in Algorand (ALGO) but need help figuring out where to start? This guide will help you bring yourself up to speed on the project, so you can start trading immediately.

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Algorand (ALGO) What is it?

Algorand is a decentralized, open-source network that uses proof-of-stake to allow decentralization, scalability, and security to coexist. There's a lot of trouble with scalability, safety, and decentralization on one blockchain network. It aims to deliver full decentralization, top security and scaling while handling 1,000 transactions a second.

This project was launched in 2019 to enable emerging and existing businesses to operate in a decentralized economy. It is the native cryptocurrency within the Algorand system. ALGO participants get instant transactions with ALGO and can earn rewards. The system relies on ALGO holders and ALGO block producers or node runners.

Decentralized applications (dApps) can be built with Algorand smart contracts. Pure proof-of-stake is Algorand's scaling alternative to Ethereum's smart contracts. Users can deploy new tokens on the Algorand network or transfer existing assets.

Algorand: How does it work?

Algorand uses a pure proof-of-stake consensus mechanism with a Byzantine agreement protocol for security, scalability and decentralization. If a node breaks, automating the protection of staked ALGO balances is possible.

This protocol uses a pure proof-of-stake algorithm to secure the network. However, despite some users' power, the system is codependent.

Algorithm transactions are instant and final and can be processed 1,000 times per second. A decentralized economy has an anti-inflation mechanism that limits total supply. ALGOs are minted at the genesis and distributed to ALGO holders and network participants every time a new block is created. Algorand solves the storage problem in blockchain by letting new users participate in network storage immediately. The two-tiered decentralized network Algorand facilitates these features and protocols.

Algorand: What makes it unique?

Algorand's unique approach makes security, scaling, and decentralization all work together. Algorand can process around 1,000 transactions in a second, and makes it easy to develop, deploy, and manage dApps.

As a decentralized economy with apps and crypto assets is built, participants can create and deploy their tokens. ALGO uses pure proof-of-stake so all users, including node runners and holders, can participate in network governance and be rewarded. Algorand has unique features and novel technology, making it one of the fastest blockchain networks.

What makes Algorand valuable?

Many factors can affect Algorand's value and market price, including its technology and functions, adoption, network utility, etc.

The finite supply of Algorand makes it valuable, and ALGO's supply has been limited to 10 billion since Algorand's inception. These funds go to node runners, end users, and the Algorand Foundation. The market value of Algorand depends on buying and selling activity and market trends.

What is the circulation rate of Algorand (ALGO) coins?

The 10 billion ALGOs are estimated to be in circulation for less than a third. A total of 3.038 billion ALGOs circulated in May 2021. A certain amount of time will pass before the maximum supply of ALGO coins is exhausted. ALGO minted 10 billion coins at genesis. As with Bitcoin, the finite supply may suppress inflation.

Final words: How to use Algorand

Algorand lets you create decentralized applications using smart contracts. Algorand combines speed, security, and decentralization in one blockchain. The Algorand decentralized finance platform provides perfect scalability for users and developers. The network uses native crypto. You can send payments, create dApps, stake, and trade with Algorand (ALGO).

Lee Enterprises newsroom and editorial were not involved in the creation of this content.

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All that you wanted to know about Algorand crypto - Tulsa World

Been playing (aka wasting time) with ChatGPT andPerplexity.aifor quite sometime and thought of what can it produce when asked whether newspapers should or should not spin up their own Mastodon instance. Here are the results from these two companies that use large language models (LLMs):

OpenAI's ChatGPT says:

"Mastodon, a decentralized social media platform, is gaining popularity as an alternative to larger social media platforms like Twitter and Facebook. As such, newspapers are considering whether they should spin up their own Mastodon instance. Here are the advantages and disadvantages of this approach:

Advantages:Increased control: By hosting their own Mastodon instance, newspapers have complete control over the content that is shared and the users that engage with the content.Audience engagement: Mastodon provides a more personalized way for newspapers to engage with their audience and build a stronger relationship with them.

Decentralization: By hosting their own instance, newspapers can contribute to Mastodon's decentralized nature and ensure that the platform remains open and accessible to all.Privacy: Mastodon is designed to prioritize privacy and data security, ensuring that users' data is protected and newspapers are not subject to privacy concerns.

Disadvantages:Limited audience: Mastodon still has a relatively small user base compared to larger social media platforms, which could limit the audience for newspapers that host their own instance.Cost: Running and maintaining a Mastodon instance can be expensive, especially for smaller newspapers with limited resources.Technical expertise: Hosting a Mastodon instance requires technical expertise and knowledge of the platform, which could be difficult and expensive for newspapers to obtain.Fragmentation: Mastodon's decentralized nature means that there are many different instances, each with their own set of rules and regulations. This could make it difficult for newspapers to reach a wide audience and could lead to a lack of consistency in the content that is shared.In conclusion, hosting a Mastodon instance provides increased control and audience engagement for newspapers, while contributing to the platform's decentralized nature and prioritization of privacy. However, it comes with a limited audience, high costs, technical expertise requirements, and fragmentation. Newspapers must carefully consider their goals and resources before deciding whether to host their own Mastodon instance or stick with more established social media platforms."

And here's whatPerplexity.AIsays:

"Mastodon is a decentralized social network that allows users to create their own instances. Newspapers can spin up their own Mastodon instance to have more control over their content and build a community around their brand. One of the main advantages of creating a Mastodon instance is that it allows newspapers to have complete editorial control over what stories are told and how they are presented. This can be especially important for newspapers that want to focus on niche topics or cater to specific audiences. Another advantage is that it allows newspapers to build a community of readers who are interested in their content and engage with them directly. However, creating a Mastodon instance requires technical expertise, and it can be difficult to attract users to a new instance. Additionally, Mastodon is still a relatively new platform, and most users are already part of established instances. Newspapers should carefully weigh the pros and cons before deciding whether or not to create their own Mastodon instance."

Note that I asked both to produce a concise version.

Are the results correct and accurate? Well, not quite. It basically got the decentralization, increased control over the content, and cost of running an instance (including technical expertise) correct (but you can pay for a managed hosting service for this). The others, well, just prove that LLMs are not intelligent-does not know where to pull data about how federation works, i.e., you don't need users to be on the same instance to interact with them. This means that there aren't that many articles written about federation and decentralization, enough for the LLMs to digest and update its model, ergo just like a parrot.

Newspaper companies, instead of paying to get verified, should consider having their own Mastodon (or Misskey or Calckey) instance, if and only if, they value complete editorial control of their content (and complete control of how they store their data) over other things popular social media companies, like Facebook and Twitter, provide.

Growing the number of readers should not be an issue, specially when you are sure that your posts are not being rate-limited by algorithms designed to push for more advertisements in favor of the social media company. Just how did their followers increase to start with? NO different on the federated universe, IMHO.

I'd say NOW is the time to seriously look into this and decide. Freedom of the press should not be dependent on some algorithm that maximizes profit for the platform. If newspaper companies treat Facebook, Twitter and Tiktok as distribution platforms (worse with algorithms that determine who to show their articles to), then why ignore the reach of the federated universe (Mastodon, Misskey, Calckey, Pleroma, Pixelfed, PeerTube, Micro.blog, WordPress, Flipboard, and soon, hopefully, Tumblr and Flickr, too), right?

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What do LLMs say about newspaper companies and Mastodon? - Manila Bulletin

With the advent of readily available artificial intelligence (AI) applications such as ChatGPT, we are ushering in a new era of rapid improvements in blockchain-based smart contracts. This convergence of innovative technologies will transform industries and pave the way for unprecedented levels of contract development, automation and efficiency.Blockchains decentralized ledger technology powering cryptocurrencies like Bitcoin and Ethereum has gained widespread attention for its unparalleled ability to promote transparency and trust among network participants. Simultaneously, AI has made incredible strides in natural language processing (NLP), machine learning (ML) and data analysis. When these two titans collide, they hold the potential to radically change smart contract execution and enhance blockchain network functionality. By nature, blockchain networks are decentralized, ensuring no single point of control or failure. While decentralization bolsters security, it also presents many scalability and efficiency challenges. Enter AI ready to optimize data processing and storage on the blockchain. One notable limitation of blockchain technology is its sluggish transaction speed compared to traditional payment systems. AI algorithms can come to the rescue by predicting and prioritizing transaction processing, enabling faster confirmation times and a seamless user experience.

Full commentary : AI meets blockchain: Revolutionizing smart contracts and cryptocurrency.

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AI meets blockchain: Revolutionizing smart contracts and ... - OODA Loop

Earlier this month, the U.S. Department of the Treasury (Treasury) released itsIllicit Finance Risk Assessmentof Decentralized Finance (Assessment). This Assessment, part of a broad regulatory scrutiny of entities that operate in the Decentralized Finance (DeFi) space (see the explanation below), focuses on the illicit finance risks associated with virtual assets.

While the assessment discusses how bad actors are taking advantage of weak points in anti-money laundering (AML) and other regulatory regimes across the world, we want to highlight the assessments findings that DeFi companies are often failing in meeting their obligations to address sanctions and money laundering risks. As weve highlighted over the past year, financial institutions of all kinds, from traditional banks and broker dealers to newer crypto and web3 companies are facing increased regulatory scrutiny (for example, see Wilson Sonsinis past alerts onCoinbase,TornadoCash, andKraken). This Assessment serves as a reminder, especially for DeFi financial institutions, that regulators will continue enforcement against AML infractions.

The first-of-its-kind risk assessment alleges that DeFi service providers often fail to institute robust AML compliance programs. This, according to the Assessment, can make DeFi services vulnerable to exploitation by illicit actors. To curb the use of DeFi services for criminal activity, Treasurys Assessment recommends that the U.S. government strengthen AML regulatory supervision, consider potential enhancements to the existing regulatory regime, and better engage with the private sector to stay up to date on the latest developments in the DeFi ecosystem.

De-What?

While there is no universally accepted definition of DeFi services, the term is generally used to describe virtual currency protocols and services that offer some form of automated peer-to-peer exchange transactions. Such transactions are often executed using smart contracts or computer code. DeFi companies can operate, at least to some extent, without the support of a central company, group, or person, though Treasury clarifies that the degree to which a purported Defi service is in reality decentralized is a matter of facts and circumstances. Examples include cryptocurrency exchanges and decentralized liquidity platforms, where lenders and borrowers are incentivized to rely on a particular service.

Decentralization May Not Mean No Regulatory Scrutiny

Treasurys Assessment clarifies that just because a virtual currency business claims to be decentralized does not necessarily mean the business wouldnt be considered a financial institution under the Bank Secrecy Act, the legislative underpinning for AML regulations. Likewise, the declaration that a service is decentralized cannot be used to abdicate responsibility for compliance with sanctions programs administered by the Office of Foreign Assets Control (OFAC).

The Assessment notes that when entities whose operations are subject to regulation (e.g., money transmitters) fail to register with regulators or fall short of their AML obligations, bad actors are more likely to take advantage of their services to either profit from their criminal activity or circumvent law enforcement.

Weve Said It Before and Well Say It Again: Increasing Trend of Regulatory Enforcement

The Assessment is part of a larger trend: regulators are increasingly concerned about the illicit use of crypto assets and will aggressively scrutinize crypto asset businesses. Even businesses with some degree of decentralization are not exempt from this scrutiny.

We have already discussed, for example, how crypto asset exchangeCoinbaseand its $50 million settlement with the New York Department of Financial Services after it failed to track, monitor, and report suspicious activity that may have, and in some cases did, result in illicit activity. Further, decentralized crypto asset mixerTornadoCashwas penalized by OFAC in August 2022 because, according to OFAC, TornadoCashs weak AML program allowed users to launder over $7 billion. On the same day, a top employee at BitMEX was found guilty of violating AML regulations issued pursuant to the Bank Secrecy Act, demonstrating that individuals, and not just crypto asset companies themselves, can be held liable for such violations. Crypto asset exchangesKrakenandBittrexboth settled with federal regulators in 2022 because of alleged sanctions and AML violations.

The Treasurys Assessment separately notes that the Commodity Futures Trading Commission has even brought anactionagainst a decentralized autonomous organization (DAO) for failing to comply with KYC/AML requirements. The U.S. District Court for the Northern District of Californiaheldthat the DAO could be sued as an unincorporated association under applicable law, demonstrating how decentralization does not make crypto services enforcement-proof. Regulators are unlikely to take their eyes off DeFi crypto asset businesses anytime soon, making proper compliance programs more important than ever.

My Company Works in DeFi: What Should I Do?

First and foremost, companies operating in the DeFi space should perform an analysis to determine if they should register with any federal (and/or state) regulatory bodies (e.g., FinCEN). Just as in the TV series The Office, when the character Michael Scott found that declaring bankruptcy required a bit more legwork than making that statement in a public place (even loudly), DeFi companies (and their employees) should not assume that simply telling partners and customers they are decentralized will shield them from their regulatory responsibilities.

Additionally, maintaining an effective AML and sanctions compliance program is crucial to avoiding missteps that could expose DeFi companies to significant penalties. DeFi companies that dont have such compliance programs in place should consider whether they are required to have one, what it should include, and how should it be resourced.

Lastly, Treasurys Assessment includes an acknowledgment that the government is behind in understanding DeFi, and Treasury recommends additional engagement with industry to get up to speed. This engagement may come through public comment and research opportunities. DeFi businesses should pay close attention to these opportunities to ensure they are helping shape the governments understanding of this evolving and innovative space.

If you have any questions about the Assessment, or how we can help your DeFi company, please reach out to any member of Wilson Sonsinis national security and/or fintech and financial services practices.

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Treasury Risk Assessment Emphasizes That Decentralized Crypto ... - Wilson Sonsini Goodrich & Rosati