Tokens

As a proud member of the OpenledgerHQ community, I invite you to explore the architectural blueprint that underpins our mission.
Think of Proof of Attribution as the master architect of an intelligent city, meticulously designing how every brick - every piece of data - contributes to the skyline of artificial intelligence.

The #AI Credit System: A Digital Ledger of Influence

PoA serves as the "AI Credit System," a digital ledger that acts like a meticulous accountant, issuing receipts for every dataset that shapes an AI’s knowledge.
It answers critical questions:
- Which data fueled the model’s output?
- Who provided it?
- And how significant was its impact?
This system transforms raw data into a currency of intelligence, ensuring that every contributor’s effort is recognized with precision.

DataNets: The Fertile Soil for Collaborative Growth

At the heart of this ecosystem lie DataNets, akin to fertile soil nurturing a global garden of specialized knowledge.
These community-owned datasets, managed through the DataNet Registry - our digital library catalog - are tagged and recorded on the blockchain.
They provide the rich, diverse nutrients that allow small language models (SLMs) to flourish, offering a foundation where contributors collaboratively cultivate high-value data.

Gradient-Based Attribution: The Diagnostician of Small Models

For smaller models, PoA employs Gradient-Based Attribution, a diagnostician that probes the health of an AI like a skilled physician. Using influence functions, it asks, “If we remove this data point, would the diagnosis change?” This method pinpoints the exact contributions of training samples, making it ideal for community-tuned SLMs where every data point’s role is critical to the outcome.

Infini-gram: The Cartographer of Large-Scale Intelligence

For the vast terrains of large language models, Infini-gram emerges as a cartographer, mapping the longest, most valuable routes through trillions of #tokens . Unlike traditional n-gram methods that stumble on rare phrases, Infini-gram uses suffix arrays to trace data influence with surgical precision, even in "black box" scenarios. This makes it a powerful tool for auditing and rewarding impactful contributions.

Real-Time #REWARDS : The Flowing River of Economic Value

The reward mechanism is a flowing river of economic value, distributing benefits in real-time with every inference. PoA calculates the influence of each DataNet, maps it to contributors, and channels rewards like streaming royalties - persistent and proportional. This ensures that data providers reap ongoing benefits, turning their contributions into a sustainable economic stream.

Multifaceted Benefits: The Pillars of a Trustworthy AI Ecosystem

PoA erects five sturdy pillars to support a trustworthy AI ecosystem: transparency, trust, incentives, power, and security. It eliminates the fog of "hallucinations" by holding data accountable, penalizes spam or biased inputs, and empowers contributors with influence proportional to their impact. This framework builds a fortress of reliability around AI development.

A Vision for #decentralized Ownership: The Lighthouse of the Future

Our ultimate vision is a lighthouse guiding the decentralized ownership of AI. PoA illuminates the path from the shadowy "black box" to a transparent, community-driven future where data providers are fairly compensated. As an #OpenLedger community member, I am thrilled to witness this evolution, knowing it will redefine how we build and govern intelligent systems globally.

In what CCData reports as a groundbreaking verdict, Judge Torres favored #XRP in its closely watched lawsuit against the U.S. Securities and Exchange Commission (#SEC ).

This decision, as CCData indicates, could usher in a new era for the digital assets industry, specifically regarding the categorization of such assets as securities in the United States.

In a blog post published on 14 July 2023, CCData, a leading provider of institutional-grade real-time market data for digital assets, suggests that:

the ruling brings a renewed sense of optimism to an industry that has been grappling with regulatory actions, creating a potential precedent that may influence ongoing legal cases, restoring confidence in industry participation.

Moreover, CCData predicts it could potentially draw in more liquidity into the ecosystem as market makers encounter less risk in dealing with these assets.

In the aftermath of the court ruling, $XRP ’s price performance escalated to record levels, CCData observes. The #cryptocurrency peaked at $0.93—the highest since May 2021—and closed at $0.82.

Source: TradingView

This #news triggered a dramatic increase in trading activity, with XRP trading pairs on centralized exchanges hitting a total volume of $6.05 billion on the day—an impressive 1351% increase from the previous day.

Source: CCData

Moreover, #tokens such as Solana and Cardano, which have been recently classified as securities, also witnessed significant gains.

Source: CCData

As CCData indicates, the decision to relist XRP on centralized exchanges such as Coinbase, Kraken, and Gemini contributed to the jump in trading volumes.

Despite the legal complications faced by XRP due to the lawsuit, its market-depth liquidity demonstrated resilience throughout the year.

This could be an indicator of the perceived risk of market-making on the XRP pair, which becomes riskier if XRP were deemed a security.

CCData's Orderbook data suggests that the ruling caught most speculators off guard with a vast number of orders within a very tight range around $0.45 before the announcement.

This led to a surge in buy orders, causing the price to rise to $0.95 from $0.60.

From a derivatives perspective, XRP maintained a positive funding rate, which CCData attributes to the broader positive market sentiment.

The event stimulated a significant rise in Open Interest across exchanges, reaching three times higher than its baselinelevel prior to the announcement.

CCData highlights this increase as a demonstration ofthe positive speculation surrounding $XRP .

In conclusion, CCData believes:

this landmark verdict introduces new clarity to the digitalasset market. and that this development could reshape industry trends, potentially boostcoins deemed securities, and challenge $BTC 's market cap dominance.

Furthermore, it says that:

this could prompt a reevaluation of the SEC's regulation by enforcement approach and catalyze industry growth by attracting fresh liquidity and fostering confidence in continued innovation in the digital asset sector.

#Ripple💰 #RippleStablecoin #CoinbaseExchange. #BinanceSquareFamily
#tokens

Introduction

In a noteworthy development, the U.S. Securities and Exchange Commission (SEC) has revised its position regarding the classification of cryptocurrencies, heralding a moment of triumph for crypto supporters. In its amended complaint against Binance, the SEC stated that it does not regard crypto assets themselves as securities. This revelation, though mentioned in a footnote, quickly gained traction among industry leaders, including the Chief Legal Officers (CLOs) of Ripple and Coinbase.

Contents
1. Reactions from Coinbase and Ripple's CLOs
2. Frustration Over SEC’s Inconsistent Regulations
3. The Ripple Case Under Examination

1. Reactions from Coinbase and Ripple's CLOs

Paul Grewal, Coinbase’s Chief Legal Officer, highlighted this crucial update in a series of posts on X (formerly Twitter). He underscored the importance of the SEC’s admission by quoting directly from the amended complaint. Grewal remarked, “‘The SEC regrets any confusion it may have invited’ by falsely and repeatedly stating that tokens themselves are securities.”
He characterized the language in the footnote as “remarkable,” criticizing the agency for its reversal of a long-standing position on crypto regulation. Grewal also noted the potential ramifications this shift could have on ongoing litigation involving other crypto entities, particularly Ripple. He tagged Ripple's CLO, Stuart Alderoty, in his post, suggesting that Alderoty might be surprised by the SEC's latest statement.

2. Frustration Over SEC’s Inconsistent Regulations

Stuart Alderoty responded with a mix of vindication and frustration. Quoting Grewal’s post, he expressed his views on the SEC's contradictory approach to cryptocurrency regulation. Alderoty stated, “So the SEC finally admits that 1/ ‘crypto asset security’ is a made-up term and 2/ to prove a ‘crypto asset security’ is an investment contract, the SEC needs evidence of a bundle of ‘contracts, expectations, and understandings’?”
He went on to criticize the SEC’s ever-evolving stance, labeling the agency as “a twisted pretzel of contradictions.” Alderoty humorously proposed a redesign of the SEC's logo to reflect their complex legal entanglements.

3. The Ripple Case Under Examination

The SEC’s acknowledgment is a relief for many within the cryptocurrency sector, especially following years of what has been termed “regulation by enforcement.” Grewal emphasized this concern, stating, “That SEC absolutely ‘maintained’ that tokens themselves are securities is clear from the long record of their regulation by enforcement campaign. Why mislead...”

Conclusion and Final Thoughts

The SEC's recent admission that crypto tokens are not classified as securities represents a significant pivot in its regulatory stance, eliciting strong reactions from key figures in the industry. As the crypto community digests this announcement, the implications for ongoing litigation and future regulatory frameworks remain to be seen. The contrasting views from Coinbase and Ripple's legal leaders highlight the complexities and challenges faced by the cryptocurrency sector as it navigates an evolving regulatory landscape.

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