Mechanism design is a field in economics and game theory that takes an engineering approach to designing economic mechanisms or incentives, toward desired objectives, in strategic settings, where players act rationally. Because it starts at the end of the game, then goes backwards, it is also called reverse game theory. It has broad applications, from economics and politics (markets, auctions, voting procedures) to networked-systems (internet interdomain routing, sponsored search auctions).
Ethereum extends bitcoin by incorporating a more complete, easier-to-use, but less secure programming language to implement smart contracts. Ethereum trades security for ease of use because of this developers have chosen it as the platform on which to launch the first decentralized applications sometimes with associated initial coin offerings.
A token sale is like a crowdfunding campaign, except it uses the technology behind Bitcoin to verify transactions. Oh, and tokens aren’t just stand-ins for stock—they can be set up so that instead of a share of a company, holders get services, like cloud storage space, for example. Below, we run down the increasingly popular practice of launching an ICO and its potential to upset business as we know it.
Brave, the upstart web browser founded by Mozilla co-founder Brendan Eich, completed an initial coin offering (ICO) today that is likely to be distinguished for its speed and earnings.
Overall, the sale for Brave's ethereum-based Basic Attention Token (BAT) generated about $35m and was sold out within blocks, or under 30 seconds.
Bitcoin mining is legal and is accomplished by running SHA256 double round hash verification processes in order to validate Bitcoin transactions and provide the requisite security for the public ledger of the Bitcoin network.
In artificial intelligence, an intelligent agent (IA) is an autonomous entity which observes through sensors and acts upon an environment using actuators (i.e. it is an agent) and directs its activity towards achieving goals (i.e. it is "rational", as defined in economics). Intelligent agents may also learn or use knowledge to achieve their goals. They may be very simple or very complex: a reflex machine such as a thermostat is an intelligent agent.