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Latest Crypto News: Etherscan Launches AI-Powered Code Reader, Cyberport Attracted 150 Web 3.0 Firms In A Year, Says Hong Kong

Here are some of the major developments from the world of crypto over the past few days

Latest Crypto News: Etherscan Launches AI-Powered Code Reader, Cyberport Attracted 150 Web 3.0 Firms In A Year, Says Hong Kong
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Ethereum block explorer and analytics platform Etherscan on June 19, 2023 launched an AI-powered code reader. The tool allows users to retrieve and interpret the source code of a specific contract address via an AI prompt.

According to Etherscan, the coder reader tool uses OpenAI’s big language model to produce a response in response to a user query, giving the user access to the contract’s source code files. It uses artificial intelligence to locate and decipher the source code of a particular contract address. 

The tool’s tutorial page reads: “To use the tool, you need a valid OpenAI API Key and sufficient OpenAI usage limits. This tool does not store your API keys.”

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The use cases for ‘Code Reader’ includes learning more about the inner workings of contracts’ code through AI-generated explanations, getting thorough lists of all the functions connected to Ethereum data, and comprehending how the underlying contract communicates with decentralised applications. 

One can select a specific source code file to read through after retrieving the contract files. Before sharing the source code with the AI, one can also make changes immediately inside the 
UI, according to the tutorial’s page.

Cyberport Attracted 150 Web 3.0 Firms In A Year, Says Hong Kong

Hong Kong’s Financial Secretary Paul Chan Mo-po has announced in a statement that more than 150 Web 3.0 companies have established operations at Hong Kong’s Cyberport, a digital hub created by the city government to foster innovation.

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According to Chan Mo-po, the influx came after the Hong Kong government invested 50 million yuan or about $7 million to boost Cyberport in accelerating the development of Web 3.0, which uses Blockchain as its enabling technology.

Chan Mo-po said Cyberport had in total received funding to the tune of HK$500 million (Hong Kong dollar) or about $64 million for the “Digital Transformation Support Pilot Programme,” a project intended to aid small- and medium-sized businesses in implementing digital solutions

A total of 1,900 businesses are housed at Cyberport, which is run by a fully owned subsidiary of the Hong Kong Special Administrative Region's government.

Bitcoin Reaches 50% Market Dominance For First Time In 2 Years

Blackrock’s spot exchange-traded fund (ETF) filing and the US Securities and Exchange Commission’s (SEC’s) crackdown on crypto are driving investors toward Bitcoin.

The percentage of the total crypto market cap that Bitcoin accounts for, as measured by its dominance, has surpassed 50 per cent for the first time in two years.
 
According to data from TradingView, Bitcoin dominance peaked on June 19 at 6 PM UTC and has since dropped to 49.9 per cent as of now. 

At present, Bitcoin represents 50 per cent of the $1.1 trillion market capitalisation for all cryptocurrencies. Coingecko stats show that the market capitalisation of Bitcoin is currently $519 billion. 

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Notably, since November 27, 2022, Bitcoin has increased its market share by more than 10.5 per cent. This growth has been mostly attributed to investors seeking safety in the flagship cryptocurrency asset in the wake of the FTX crisis and under increasing governmental scrutiny of crypto assets in the US.
 

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