Enhancing Web3.0 security through on-chain data analysis: Insights from industry leaders

Enhancing Web3.0 security through on-chain data analysis: Insights from industry leaders

On 28 September 2023, a panel of experts convened at SMU to delve into the realms of on-chain data and Web3 security. SMU Associate Professor of Computer Science and Advisor, SMU Blockchain Club Zhu Feida, was the moderator. The panel featured luminaries including Aby Huang, the CEO of SlowMist, a prominent blockchain security firm; Neal, CEO of BugRap, a decentralised bug bounty platform; Anndy Lian, an advisor at Bybit, a global cryptocurrency exchange; and Xiaolin Wen, a research scientist at SMU. Xiaolin Wen shared his views on how on-chain data analytics contributes intelligence and innovation to blockchain security. Assoc Prof Zhu separately offered insights into the future of Web3 security. The event was organised by Moledao in conjunction with an MOU signing between SMU and SlowMist.

Source: https://scis.smu.edu.sg/news/2023/oct/17/enhancing-web30-security-through-chain-data-analysis-insights-industry-leaders

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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Enhancing Web3.0 security through on-chain data analysis: Insights from industry leaders

Enhancing Web3.0 security through on-chain data analysis: Insights from industry leaders

On September 28, 2023, a panel of experts convened at the Singapore Management University (SMU) to delve into the realms of on-chain data and Web3 security. Prof. Feida Zhu, a renowned figure in information systems and co-director of the SMU Blockchain Lab, took the reins as the moderator. The panel featured luminaries including Aby Huang, the CEO of SlowMist, a prominent blockchain security firm; Neal, CEO of BugRap, a decentralized bug bounty platform; Anndy Lian, an advisor at Bybit, a global cryptocurrency exchange; and Xiaolin Wen, a research scientist at SMU.

The panelists explored a range of topics, starting with the role of on-chain data analytics in bolstering blockchain network security. They shared their perspectives on the potential of on-chain data analytics to enhance security measures, detect fraudulent activities, identify vulnerabilities, and effectively communicate findings.

Enhancing Blockchain Network Security

Aby Huang emphasized the real-time benefits of on-chain data analytics in improving security. He discussed its ability to monitor blockchain networks, assess risks, and detect anomalies, such as irregular transactions or suspicious contract calls. Furthermore, he highlighted how on-chain data analytics can evaluate the security of smart contracts, tokens, dApps, and protocols by considering factors like code quality, audit results, governance mechanisms, and community trust.

Neal echoed Aby’s sentiments, underlining how on-chain data analytics promotes transparency and accountability. He explained its role in verifying the correctness and integrity of smart contracts and transactions through cryptographic proofs and consensus mechanisms. Neal also noted that economic models and game theory can be leveraged to incentivize positive behavior while discouraging malicious actions.

Anndy Lian emphasized the importance of feedback and improvement in enhancing security measures. He illustrated how on-chain data analytics measures the performance and efficiency of blockchain networks using key metrics like throughput, latency, scalability, and cost. Additionally, he discussed its potential to pinpoint pain points and bottlenecks in these networks by employing benchmarking and comparative analysis.

Xiaolin Wen concluded that on-chain data analytics contributes intelligence and innovation to blockchain security. He highlighted its ability to uncover new patterns and insights through advanced techniques like machine learning, natural language processing, and graph analysis. Furthermore, he discussed how interdisciplinary approaches, such as cryptography, software engineering, and human-computer interaction, enable the development of novel solutions and applications for blockchain security.

Early Detection of Fraud and Security Breaches

The panelists also shared examples of how on-chain data analytics can facilitate the early detection of fraud and the prevention of security breaches in the blockchain space. Aby Huang described how SlowMist actively monitors and investigates hacking incidents in the blockchain ecosystem, including recent cases like the Mixin incident involving $200 million worth of crypto assets. Anndy Lian emphasized the role of education in promoting security awareness among crypto users, emphasizing the importance of platforms like SlowMist offering free live monitoring to prevent financial losses.

Prof. Feida Zhu offered insights into the future of Web3 security. He predicted that advances in on-chain analytics would lead to proactive security measures, adapting to changing conditions and fostering collaboration among stakeholders. Web3 security, he asserted, would shift from a reactive, static, and isolated model to one that is proactive, adaptive, and collaborative.

Conclusion

The panelists concurred that on-chain data analytics holds unparalleled promise for uncovering transaction intent within the blockchain’s rich data tapestry. Techniques such as graph analysis, network analysis, community detection, and link prediction can illuminate the dynamics of transaction networks. Furthermore, methodologies like game theory, behavioral economics, social psychology, and decision theory can provide insights into the strategies, preferences, and emotions of transaction participants.

This event was organized by Moledao in conjunction with an MOU signing between SMU and SlowMist, exemplifying the collaborative spirit of the blockchain community in advancing Web3 security.

 

 

 

Source: https://www.financialexpress.com/business/digital-transformation-enhancing-web3-0-security-through-on-chain-data-analysis-insights-from-industry-leaders-3272181/

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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Put ChatGPT, Bing Chat, and Bard to the Test: A Comparative Analysis

Put ChatGPT, Bing Chat, and Bard to the Test: A Comparative Analysis

In today’s rapidly changing world of artificial intelligence, language models have become essential tools with a wide range of applications. They play pivotal roles in everything from virtual assistants and chatbots to content generation and translation services. As these models push the boundaries of what’s possible, it’s imperative that we scrutinize their capabilities, acknowledge their limitations, and evaluate their real-world performance. In this opinion piece, we’ll subject three prominent language models—ChatGPT, Bing Chat, and Bard—to a rigorous examination, delving into their strengths and weaknesses while pondering the profound impact they have on our digital interactions.

Understanding the Players

Before delving into the comparison, let’s briefly introduce the contenders:

ChatGPT: Developed by OpenAI, ChatGPT is a highly advanced language model known for its natural language understanding and generation capabilities. It has been used in various applications, from chatbots to content creation.

Bing Chat: Microsoft’s answer to conversational AI, Bing Chat is a product of continuous research and development. It’s designed to facilitate natural and context-aware conversations, making it an attractive choice for customer support and virtual assistance.

Bard: While perhaps less well-known than the other two, Bard is a language model developed by Google. It’s designed for a wide range of language tasks, including translation, summarization, and chatbot interactions.

Testing Criteria

To fairly evaluate these language models, we’ll assess them based on several key criteria:

Natural Language Understanding (NLU): How well do these models comprehend and respond to user inputs?

Conversation Flow and Context Management: Can these models maintain coherent and contextually relevant conversations, even with complex inputs?

Content Generation: How adept are these models at generating coherent and informative responses, especially in content creation scenarios?

Ethical Considerations: What steps have been taken to mitigate biases and ethical concerns in these models?

Accessibility and Integration: How easily can these models be integrated into various applications and platforms?

Natural Language Understanding (NLU)

ChatGPT, Bing Chat, and Bard have all made significant strides in natural language understanding. They can process a wide range of user inputs, from casual conversation to technical queries. OpenAI’s ChatGPT, for instance, has been fine-tuned to understand and respond to various languages, dialects, and domains.

Microsoft’s Bing Chat also excels in NLU, boasting an impressive ability to recognize user intent and context. It leverages Microsoft’s vast knowledge base to provide informative responses, making it a compelling choice for customer service applications.

Bard, though less known in this arena, still demonstrates a commendable understanding of natural language. It’s especially effective in multilingual settings, owing to Google’s extensive translation capabilities.

Conversation Flow and Context Management

A crucial aspect of conversational AI is the ability to maintain coherent and contextually relevant dialogues. ChatGPT, Bing Chat, and Bard approach this challenge differently.

ChatGPT often relies on generating context from the conversation history. While it generally performs well, it may occasionally produce responses that seem out of place or disconnected from previous messages, especially in longer conversations.

Bing Chat, with its focus on context-aware conversations, tends to excel in this area. It can seamlessly manage complex dialogues and provide informative responses even when users provide incomplete information.

Bard, too, handles context reasonably well. Google’s model can maintain coherence in multilingual conversations and adapt its responses to evolving user queries.

Content Generation

Content generation is a critical application for language models, especially for tasks like writing articles, product descriptions, or creative pieces. In this regard, ChatGPT stands out as a strong performer. It can generate coherent and contextually relevant text, making it a valuable tool for content creators.

Bing Chat, while primarily designed for conversations, can still generate informative responses for content-related queries. However, it may not be as proficient in long-form content generation as ChatGPT.

Bard, developed by Google, is also adept at content generation. Its strength lies in summarization and translation tasks, but it can produce well-structured paragraphs and essays with the right prompts.

Ethical Considerations

Ethical concerns surrounding AI models are paramount in today’s discussions. OpenAI has made efforts to address biases in ChatGPT, implementing guidelines to reduce harmful and biased outputs. While it’s not perfect, these measures demonstrate a commitment to responsible AI development.

Microsoft, too, emphasizes ethical considerations in the development of Bing Chat. The company actively seeks to avoid biased and inappropriate responses and provides tools for users to report any issues they encounter.

Google, with Bard, has also acknowledged the importance of ethical AI. Google’s AI Principles guide the development of all their AI systems, with a commitment to avoiding biases and promoting transparency and accountability.

However, it’s crucial to note that none of these models are entirely free from biases or ethical challenges, and continuous vigilance and improvement are necessary to address these concerns.

Accessibility and Integration

The ease of integrating these language models into various applications and platforms is another vital aspect of their usability. ChatGPT is available through APIs, making it accessible for developers to incorporate into their projects. OpenAI offers both free and paid tiers, allowing a range of users to benefit from its capabilities.

Microsoft offers Bing Chat through Azure, providing a scalable and robust solution for businesses. It integrates seamlessly with Microsoft’s other products, which can be a significant advantage for enterprises.

Google’s Bard is accessible through Google Cloud AI, making it a viable choice for businesses already using Google’s ecosystem. It offers flexibility in terms of deployment and integration.

Conclusion

In the dynamic world of conversational AI, let’s take a closer look at ChatGPT, Bing Chat, and Bard, each bringing its own set of strengths to the table. ChatGPT really shines with its exceptional grasp of natural language and its ability to generate content that’s second to none. It’s the top pick for content creators and developers who crave a versatile language model.

Now, Bing Chat steps up to the plate with its knack for managing context and reading user intentions like a pro. It’s the go-to choice for applications that require impeccable customer support and virtual assistance, and the fact that it seamlessly blends into Microsoft’s ecosystem is a huge plus for businesses.

And let’s not forget Bard. While it might not be as famous as the other two, it packs a punch with its multilingual skills and its knack for content creation. In scenarios where translation and summarization are vital, Bard could carve out its own special niche.

But here’s the scoop: deciding among these language models isn’t just about their features. It’s also about the specific needs of your project, ethical considerations, and how easily they fit into your existing setup. As AI charges forward, it’s our responsibility as developers, businesses, and users to keep up with these models’ capabilities and quirks. Armed with this knowledge, we can make smart choices and steer AI development in an ethical direction. With ongoing improvements and an eye on fairness, these models can continue to jazz up our digital interactions and make the online world more welcoming and accessible to all.

 

Source: https://wishu.io/put-chatgpt-bing-chat-and-bard-to-the-test-a-comparative-analysis/

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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