Day: August 9, 2023

What is DeepSwap?

by Blockchain News

Introduction to DeepSwap

DeepSwap is a web-based AI application that specializes in creating face swap videos, photos, and GIFs. With a user base exceeding 150 million, it offers a platform for engaging in humorous face swapping activities, such as movie character impersonations, gender face reversals, and face memes. This article explores the features, use cases, safety, and alternatives to DeepSwap, providing an unbiased and concrete overview.

AI Face Swap Generator Types

AI Video Generator: The Deepswap app’s AI Video Generator offers users access to cutting-edge AI face-changing technology, opening up limitless possibilities for video creation and character transformation. This advanced feature allows users to create high-quality face swap videos by seamlessly integrating their faces with those of famous movie roles. Whether you want to see yourself as Wednesday Addams or explore other iconic characters, the AI Video Generator provides shockingly realistic results. The technology behind this feature analyzes facial patterns, expressions, and contours to ensure a perfect match, allowing for a wide range of creative and entertaining applications. From personal entertainment to professional content creation, the AI Video Generator by Deepswap offers an innovative and engaging way to experiment with face swapping in videos. 

AI Photo Generator: DeepSwap’s AI Photo Generator is a user-friendly tool that makes face-swapping in photos simple and effortless. Whether you want to create a new ID photo, a wedding picture, or a travel image, this feature offers seamless quality, thanks to AI-powered technology.  DeepSwap is an optimal choice for anyone looking to edit or generate face swap photos without the need for extensive effort or expertise. 

Face Meme GIF maker: DeepSwap’s Face Meme GIF Maker allows you to create funny and unique face meme GIFs with ease. Tap into trending memes to boost your social media presence and drive traffic to your platforms. This user-friendly tool offers a quick way to personalize content and enjoy the spotlight.

 AI Girl Generator: you can crate your dream girl by entring description, like smile girl on beach, office asia lady and cute girl.

Ease of Use

Simple three-step process for generating face swaps.

1. Upload the video/photo/gif you want to swap face on.

2. Choose your or a celebrity’s Face to swap.

3. Download your ai reface video.

Privacy, Legal, and Safety Measures

DeepSwap offers three distinct ways to log in, including Google, Facebook, and email, and it’s essential for users to remember their chosen method to avoid creating multiple accounts. Concerning data deletion, all data, including uploaded videos and changed faces, will be automatically deleted after 7 days, and users have the option to manually delete videos. DeepSwap assures that they won’t record any of the user’s data.

While DeepSwap does not provide an account deletion function, creations expire after 7 days, and any deletion of original materials is permanent. Users can contact customer service to clear their registration record if needed. For non-members who have credits on their account, they can upload videos using credits but are limited to two free face swaps per day.

The platform emphasizes safety, stating that DeepSwap only keeps basic information like Account ID and membership status for customer service purposes. Uploads and creations data are not collected, underlining a strong commitment to privacy and safety.

The legal terms emphasize the need for proper authorization when entering into the Terms of Service (TOS), adherence to age restrictions (with provisions for those under legal age to be supervised by a guardian), and compliance with local laws, specifically those of the Hong Kong Special Administrative Region (HKSAR) or other applicable jurisdictions. These stipulations ensure that users engaging with the services meet specific legal criteria and abide by relevant regulations.

Pricing

DeepSwap offers a free version with limitations and a Premium version with features like faster processing, no watermarks, and priority use for new features. The premium version costs $9.99/month or $49.99/year.  Premium version includes below benefits:

Access to Pro Model: Unlock advanced features and capabilities.

Unlimited Photo Uploads: Enjoy the freedom to upload as many photos as you like.

Monthly Credits: Receive 20 credits every month for additional services.

No Watermarks: Create content without any branding or watermarks.

Increased Video Size: Upload videos up to a maximum size of 500M.

AI Girl Generation: Generate and customize looks with AI-powered tools.

Priority Processing: Benefit from faster processing times for your projects.

Extended Video Length: Create videos with a maximum length of 10 minutes.

Early Access to New Features: Be the first to try out new and upcoming features.

Support for Multiple Formats: Work with various video and photo formats for greater flexibility.

DeepSwap Alternatives

FaceSwapper: A user-friendly tool designed for photo editing, FaceSwapper enables easy face swapping in images, with customization options.

Facehub: A real-time app that enables face-to-face swapping, allowing for instant transformations.

Reface: Known for its high-quality face replacement in videos, Reface utilizes AI technology for realistic and seamless transformations.

Reflect: Specializes in realistic face swapping and meme creation, offering detailed adjustments.

Morphin: Offers CGI technology to place your face into famous GIFs and memes, creating personalized and engaging content.

Face Swap Live: Allows users to swap faces in live videos, providing a dynamic and interactive experience.

Conclusion

DeepSwap is a powerful tool for creating deep swaps and deep fakes.  It is a well-liked option due to its versatility and simplicity of usage. Users should be conscious of the restrictions and possible problems, particularly with the free version. As AI develops, solutions like DeepSwap enable quick and easy video creation and editing, providing new opportunities for creativity and pleasure.

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DFINITY Foundation (ICP) Joins Blockchain Security Alliance

by Blockchain News

The DFINITY Foundation, the ICP token issuer, a leading contributor to the Internet Computer blockchain, has announced its membership in the Blockchain Security Alliance, a collaborative initiative aimed at enhancing the security of the global blockchain ecosystem. The announcement was made on August 9, 2023.

The Blockchain Security Alliance, launched by Beosin and SUSS NiFT, consists of various entities from diverse industry backgrounds, including university institutions, blockchain security companies, industry associations, and fintech service providers. The alliance’s first batch of board members includes Beosin, SUSS NiFT, NUS AIDF, BAS, FOMO Pay, Onchain Custodian, Semisand, Coinhako, ParityBit, and Huawei Cloud.

The Internet Computer blockchain, developed by DFINITY, introduces autonomous serverless cloud functionality to the public internet. This innovation enables developers to build systems or services entirely on a decentralized network using “canister software,” an evolution of smart contracts.

DFINITY’s membership in the Blockchain Security Alliance emphasizes the importance of collaboration and cooperation among members to strengthen security across the blockchain industry. Herbert Yang, DFINITY GM of Asia, stated, “Security has always been one of DFINITY’s top concerns as a decentralized internet computing platform. With 42 members at present, the Alliance stands as a united front committed to safeguarding the integrity and security of the blockchain industry.”

Beosin, a founding member of the alliance, plays a crucial role in enhancing the security of the ecosystem. The company offers a comprehensive “All-in-one” blockchain security solution, including Smart Contract Audits, Risk Monitoring & Alerts, KYT/AML, and Crypto Tracing. Beosin has audited over 3000 smart contracts, including well-known Web3 projects like PancakeSwap, Uniswap, DAI, and OKSwap.

In addition to its security services, Beosin has recently conducted audits for two ICP projects, MID and Catalyze, reflecting its commitment to the security of the ICP ecosystem.

Tommy Deng, Managing Director at Beosin, expressed delight at DFINITY’s participation, saying, “Together with DFINITY and other Alliance members, we strive to establish an ecosystem where innovation thrives amidst robust security measures.”

The Blockchain Security Alliance has been active in hosting events and producing reports on blockchain ecosystem security. Last year’s inaugural event, “ENABLING A DIVERSE ECOSYSTEM IN WEB3.0,” saw significant participation from alliance members.

As co-organizers, Beosin and SUSS NiFT have welcomed DFINITY’s participation and pledged to further the alliance’s work in contributing to the security development of the blockchain industry.

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Class Action Filed Against Fenwick & West, LLP, Former Law Firm of FTX, in Connection with Largest Financial Fraud in U.S. History

by Blockchain News

A class action complaint has been filed against Fenwick & West, LLP (“Fenwick”), a prominent law firm, in the United States District Court, Northern District of California, San Francisco Division, on August 7, 2023. The complaint alleges Fenwick’s involvement in the FTX disaster, described as “the largest financial fraud in US history.”

FTX Disaster Unveiled

The complaint outlines two major schemes allegedly perpetrated by Samuel Bankman-Fried (SBF), FTX Group’s founder, and the FTX Group. The first scheme involved stealing customer deposits and using billions of dollars in customer funds for various purposes, including “to support the operations and investments of FTX and Alameda, to fund speculative venture investments, to make charitable and political contributions, and to personally enrich SBF himself” (Page 2). The second scheme accused the FTX Group of offering and selling securities without proper registration, thereby depriving investors of essential financial and risk-related disclosures (Page 3).

Fenwick’s Alleged Role

Fenwick, headquartered in Mountain View, California, served as FTX US’s principal outside law firm. The complaint alleges that Fenwick provided services to the FTX Group that went beyond legal boundaries, including crafting illegal strategies, setting up shadowy entities, structuring acquisitions to circumvent regulatory scrutiny, and advising on regulatory dodges (Page 4).

FTX’s Collapse and Misrepresentation

The FTX Group’s alleged fraudulent activities led to its implosion, with over $30 billion in value evaporating almost overnight when the FTX Group filed its emergency Chapter 11 bankruptcy petition in Delaware (Page 3). Despite portraying itself as a trustworthy and law-abiding member of the cryptocurrency industry, the complaint alleges that FTX did not segregate customer funds and used them as an interest-free source of capital for private ventures (Pages 5-6).

Potential Recovery for Victims

The class action may be the only avenue for victims to recover any of their damages, as FTX will be involved in federal bankruptcy proceedings for many years without a guarantee of recovery for the victims (Page 3).

The class action complaint against Fenwick & West, LLP sheds light on the complex legal landscape surrounding the FTX disaster. With billions of dollars at stake and allegations of significant legal violations, the case is likely to attract widespread attention in both the legal and cryptocurrency communities.

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EOS Network Foundation Urges Community to Reject $22 Million Block.one Settlement

by Blockchain News

In a current class action lawsuit in the United States, the EOS Network Foundation (ENF) has openly pushed the EOS community to reject the proposed settlement with Block.one, the business that created the EOS blockchain. On August 8, 2023, the information was published on the ENF’s official Twitter account.

The EOS Network Foundation is a group with the mission of using decentralization to plan a coordinated future for the EOS Network as an agent of good in the world.

Details of the Settlement

The proposed settlement pertains to the ongoing class action against Block.one, and details can be found at the settlement website. The settlement amount is $22 million, a figure that the ENF has criticized as being inadequate.

According to the ENF’s statement, “The proposed settlement amount of $22 million represents a tiny fraction of the $4 billion that Block.one raised from the community in its ICO sale and the $1 billion that Block.one promised to invest in the EOS Network and community, but failed to do.”

ENF’s Stance

The ENF has expressed strong dissatisfaction with the terms of the settlement, stating that it does not adequately compensate community members for losses suffered due to Block.one’s “misrepresentations and bad acts.” Furthermore, the ENF emphasizes that the settlement would bar class members’ rights to seek fair and just resolution to their claims in the future.

The ENF’s statement further reads: “$22 million is too small a price for Block.one to pay to avoid having to be held to account for their bad acts in the future.”

Call to Action

The ENF is urging community members to opt out of the settlement, sending a message to Block.one and the court that the settlement is inadequate. The deadline to opt out is August 29, 2023. Failure to opt out by this date may result in automatic inclusion in the class, impairing future rights to bring a claim against Block.one.

EOS community members who wish to opt out of the settlement can do so by completing the web-form located at this link.

What Happend Before The Call

The ENF’s call to reject the settlement comes in the context of ongoing legal disputes with Block.one.

Block.one is being sued by the ENF for “failing to follow through on its $1B commitment,” according to an announcement made by ENF founder and CEO Yves La Rose on July 25. 

On January 31, 2023, U.S. court rejected Block.one’s $27.5 million settlement offer to main plaintiff Crypto Assets Opportunity. The $22 million settlement that is now being sought relates to a different class-action case that has been ongoing for some time.

La Rose has been outspoken about the difficulties the EOS community is experiencing as a result of Block.one allegedly not honoring its investment pledges. In May 2023, he initially advocated for a class-action lawsuit against Block.one, claiming that the firm had broken its pledge to give EOSIO developers $1 billion from the EOS initial coin offering (ICO) which Block.one raised $4.1 billion in 2018.

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CoinGecko: Top NFT Traders Made Profits of $9.60 Million to $101.63 Million

by Blockchain News

The non-fungible token (NFT) market has been a subject of intense scrutiny and interest, with top NFT traders realizing substantial profits. A recent study by CoinGecko, published on August 4, 2023, sheds light on the investment returns of the top NFT traders on the Ethereum blockchain.

Key Findings

Top Traders’ Profits: The leading NFT traders have made profits ranging from 5,221 ETH to 55,291 ETH, equivalent to $9.60 million to $101.63 million at the time of writing.

Dominant Collections: Blue chip NFT collections from Larva Labs, Yuga Labs, and Art Blocks account for over 94.5% of total profits across the top 15 NFT traders. CryptoPunks alone represents an estimated 70.6% of top trader profits.

Top Trader: The pseudonymous SethS leads the pack with 55,291 ETH in profits, worth $101.63 million. The returns were made across 9 addresses consolidated into one NFT whale address.

CryptoPunks Millionaires: 11 of the top 15 NFT traders made millions from CryptoPunks investments, ranging from Franklin’s 1,782 ETH ($3.28 million) to SethS’ 49,216 ETH ($90.46 million).

Art Blocks and BAYC Investments: Art Blocks investments generated millions for 5 of the top 15 traders, while just 3 of the top 15 made millions from Bored Ape Yacht Club (BAYC) investments.

Analysis and Implications

The data suggests that NFTs have been a lucrative investment for those who have managed to identify collections that would become blue chips or have diversified their NFT investments. However, the report also emphasizes that not everyone is guaranteed to achieve the same success, and investment in NFTs requires skill, timing, and sometimes luck.

CryptoPunks continues to dominate the NFT trader rankings, with 8 of the top traders reaping more than half of their profits from this collection. Other notable collections include Art Blocks, Bored Ape Yacht Club (BAYC), Meebits, and Mutant Yacht Club (MAYC).

The top 15 most profitable NFT traders on Ethereum, as of August 7, 2023, include well-known names like SethS, Punks OTC, Mr.703, Pranksy, and Franklin, with realized profits ranging from $9.60 million to $101.63 million.

Conclusion

The study provides valuable insights into the NFT trading landscape, highlighting the significant profits made by top traders and the dominance of certain collections. While the success stories are inspiring, the report also serves as a reminder that NFT investments carry risks and require careful consideration and research. The recent shutdown of Mark Cuban-Backed NFT Platform Nifty’s on August 3, 2023, after failed investment opportunities, further underscores the volatility and uncertainties in the NFT market.

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Binance Labs Invests in AltLayer, a Leading Decentralized Rollups-as-a-Service Provider

by Blockchain News

Binance Labs, the venture capital and incubation arm of Binance, has announced a strategic investment in AltLayer, a leading decentralized Rollups-as-a-Service (RaaS) provider for Web3 applications, as of August 9, 2023.

Investment Details and AltLayer’s Vision

The investment aims to support AltLayer’s innovative approach to facilitating the launch of application-tailored rollups via its core network called the Beacon Layer. Nicola W., Investment Director at Binance Labs, stated, “Application-tailored rollups offer the security of Layer 1s and the customizability of appchains. However, a common issue with rollups today is that they mostly operate with centralized sequencers and create fragmented liquidity and userbase. We found AltLayer’s approach to facilitating the launch of application-tailored rollups via Beacon Layer an inspired take.”

Rollups are a Layer 2 scaling solution that bundles up transaction data and transfers it off the main chain (or Layer 1 blockchain). Transaction execution is performed off-chain, while assets are held in an on-chain smart contract. The transaction data is sent back to the main blockchain upon completion. Rollups increase transaction efficiency in terms of throughput, allowing a blockchain to process more transactions within a certain timeframe. There are two types of rollups: optimistic rollups, which use a fraud-proving scheme, and zero-knowledge rollups (zk-rollups), which use zero-knowledge proofs to validate transactions. Both types aim to enable high throughput and lower costs.

Optimistic Rollups are implemented by projects like Optimism ($OP) and Arbitrum ($ARB), focusing on increasing Ethereum’s transaction throughput using fraud-proving schemes. Zero-Knowledge Rollups (zk-Rollups) are used by zkSync, StarkWare, and Hermes Network to enhance scalability and privacy through zero-knowledge proofs.

AltLayer’s protocol is designed for a multi-chain and multi-VM world, with default support for EVM/WASM. It functions as a modular and pluggable scaling solution for all compatible chains. The company offers a no-code Rollups-as-a-Service launchpad that enables users to create a customized rollup within 2 minutes.

AltLayer’s Collaboration and Products

AltLayer has collaborated with industry leaders like EigenLayer, Espresso, Celestia, Double Jump, Arbitrum, Linea, and Jump to build on rollup usability. The company’s Rollup-as-a-Service (RaaS) solution provider offers products that fast-track the deployment of highly scalable decentralized applications. Most recently, AltLayer launched a no-code dashboard that enables users to spin up a customized rollup within 2 minutes.

Dr. Yaoqi Jia, CEO, AltLayer, expressed optimism about the investment, saying, “The rollup ecosystem is promising, and needs more eyes on it to flourish and expand. We’re honored to have the strategic investment from Binance Labs, and look forward to strengthening the rollup world with their support.”

About Binance Labs

Binance Labs, as the venture capital arm and accelerator of Binance, has grown to be worth over $9 billion. Its portfolio covers 200 projects from over 25 countries across six continents, with a return on investment rate of over 10X. Fifty of Binance Labs’ portfolio companies are projects that have gone through their incubation programs.

Binance Labs has been actively investing in various projects despite regulatory pressures and pessimistic market expectations.

On August 8, 2023, Web3 startup zkPass raised $2.5 million in a seed round, with Binance Labs leading the investment, alongside OKX and other participants.

On August 4, 2023, Binance Labs announced investments in AltLayer, KiloEx, Kinza, and Sleepless AI as part of their MVB (Most Valuable Builder) Program.

Additionally, on July 20, 2023, Binance Labs has invested $10 million in DeFi lender Radiant (RDNT), a protocol operating on the Arbitrum network.

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Coinbase Report: New York Emerges as a Hub for Crypto Innovation and Adoption

by Blockchain News

Coinbase, a leading crypto exchange, published a report titled ‘United States of Crypto: New York’ on August 8, 2023. According to the report, the swift adoption of crypto and web3 technologies in the state, with nearly one-fifth of New Yorkers owning cryptocurrency, signals a promising future for crypto in New York.

New York, known as the epicenter of technological innovation, art, and fashion, is rapidly embracing cryptocurrency and blockchain technology. According to a recent Morning Consult study commissioned by Coinbase, 19% of New York residents own crypto, and approximately one-third agree that cryptocurrency makes the financial system more equitable and represents a worthwhile future investment.

Crypto Adoption and Innovation in New York

New York state is home to 692 blockchain organizations and over 800 founders. Since the start of 2020, 52% of the Fortune 100 companies have pursued initiatives in crypto, blockchain, or web3. Most of these initiatives (around 75%) are concentrated in the tech, financial services, and retail sectors, with many residing in New York.

Famous crypto and blockchain companies that have a significant presence or operations in New York include Gemini, OpenSea, Coinbase, Chainalysis, Ripple, Fireblocks, Paxos, and NYDIG, among others.

Fashion Meets Blockchain

The state’s vibrant culture is not limited to traditional industries. Morphew, a New York-based fashion, art, and lifestyle brand, has ingeniously blended antique fashions with futuristic trends and technology. Bridgette Morphew, Founder and CEO of Morphew, expressed her desire to leverage blockchain technology to archive one-of-a-kind fashion collectibles.

Morphew partnered with Arx, a hardware technology company, to launch their NFT collection. Arx’s chips can be embedded in any item to pair physical garments with a blockchain-based digital version. Morphew’s Genesis NFT collection, stored on-chain, allows for the digital authentication and exhibition of fashion through photorealistic 3D renderings. The collection was launched at Art Basel Miami.

New York’s Role in Crypto’s Future

New York’s deep history as a home to major fashion brands and cutting-edge innovation makes it a natural base for companies like Morphew. The number of crypto VCs in New York also encourages venture capital investment in the region.

“New York is the center of the fashion industry. Morphew highlights and preserves the past while creating the future of digital fashion archival. Crypto is paving the way for artists to create and authenticate their work, that’s why we’re encouraging artists and small businesses alike to Stand with Crypto. Together, we can fuel the future of fashion,” says Bridgette Morphew.

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Bitdeer Mined 220 Bitcoin in July

by Blockchain News

Bitdeer Technologies Group (NASDAQ: BTDR), a leading technology company in the cryptocurrency mining community headquartered in Singapore, announced its unaudited mining and operations updates for July 2023 on August 7, 2023.

The company, committed to providing comprehensive digital asset mining solutions, handles complex processes involved in mining, including miner procurement, transport logistics, mining data center design and construction, mining machine management, and daily operations. Bitdeer has mining data centers deployed in the United States and Norway.

The total hash rate under management reached 20.6 EH/s as of July 31, 2023, compared to 18.8 EH/s in June 2023 and 12.1 EH/s in July 2022. The proprietary hash rate increased to 7.9 EH/s from 6.2 EH/s as of June 30, 2023. Bitdeer mined 220 Bitcoins through its self-mining business in July, marking a 41% year-over-year increase.

However, this was a 7.9% decline compared to June 2023, primarily due to the decrease in the average transaction fee of mining activities and strategic curtailment of power usage at the company’s mining data center in Texas.

The number of mining machines under management increased to 215,000 in July 2023 from 199,000 in June 2023 and 138,000 in July 2022. This includes 385,000 self-owned and 130,000 hosted machines.

The construction of the Gedu Datacenter in Bhutan was completed, with power-on testing underway. An additional 15,000 mining machines arrived at the data center in July, and as of August 7, 2023, around 11,000 miners were running stably.

Bitdeer continued to curtail power usage at its mining data center in Texas to help stabilize the state’s electric power grid in response to extreme heat, generating power credit. The aggregate electrical capacity remained consistent at 795 MW across five mining data centers as of July 31, 2023.

Linghui Kong, Chief Executive Officer of Bitdeer, commented on the updates, stating, “We made significant strides on both the operational and infrastructure fronts during July. Our total hash rate under management saw steady year-over-year and monthly growth as we successfully expanded both our self-owned and hosted mining machines under management, underscoring our commitment to scaling our operations.”

He further added, “With the construction of our Gedu Datacenter in Bhutan now completed, and power-on testing underway, we have made notable progress in securing our future growth. I’m pleased to announce an additional 15,000 mining machines arrived at the data center in July, and as of today, we already have around 11,000 miners running stably. I am incredibly proud of the progress we have made, and look forward to continuing our momentum as we go forward.”

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