Tech-News
Data on animal movements help Hungarian researchers create a swarm of autonomous drones
Moving in a dense cloud, like throngs of people walking across a crowded public square, 100 drones maneuver through the night sky in Hungary's capital, the result of over a decade of research and experimentation that scientists believe could change the future of unmanned flight.
The behavior of the swarm, made up of autonomous drones that make their own real-time decisions on collision avoidance and trajectory planning without pre-programming or centralized control, is guided by research the Hungarian scientists performed on the collective movements of creatures from the natural world.
“It’s very rare that you see some technology and you say it’s beautiful,” said Boldizsár Balázs, one of the researchers working on the project. "In its theoretical core it resembles nature. That’s why the drones themselves don’t need to be pretty, but what they do is pretty because it resembles natural swarming behavior.”
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Drones have in recent years become a common sight in our skies: Companies like Amazon and FedEx have launched drone delivery services, hobbyists use them for aerial photography and groups of over 1,000 drones have been pre-programmed to deliver large-scale light shows.
But the scientists at the Eötvös Loránd University in Budapest have developed new models based on animal behavior that allow a large number of drones to travel autonomously, reacting in real time to their environment and each other as they coordinate individual routes and tasks in dense aerial traffic.
“This is the level we call decentralization ... After the drones are told what to do, we can switch off the ground control station, we can burn it or whatever, throw it away,” said Gábor Vásárhelyi, a senior researcher at the university's Department of Biological Physics. “The drones will be able to do what they have to do just by communicating to each other.”
Using data they gathered by monitoring the behavior of pigeons in flight, the patterns of wild horses in the Great Hungarian Plain and other animal movements, they developed an algorithm that allows the drones to make on-board, autonomous decisions, safely mitigating conflicts and avoiding collisions.
While such technology has the potential to increase efficiency across many fields, some researchers have voiced concerns that certain applications of autonomous drones could pose significant dangers.
Anna Konert and Tomasz Balcerzak with the Faculty of Law and Administration at Lazarski University in Warsaw, Poland, have researched such risks, and warn that military applications could escalate arms races or be misused or hacked by malign actors such as terrorist groups.
“When drones take over lethal actions, responsibility may shift from human operators to machines, leading to uncertainty about who should be held accountable if errors occur,” they wrote in an email. “This detachment could lower the psychological barriers to initiating force, potentially making war more frequent and brutal.”
They also write that autonomous drones reducing the human cost of military engagements could “encourage more frequent military actions, leading to faster conflict escalation since fewer immediate human consequences would weigh against the decision to engage militarily.”
But beyond military uses, the researchers in Hungary say their technology has the potential to improve people's lives through numerous other applications.
Their digital simulations in three dimensions have them convinced that their algorithm can be scaled up to support 5,000 drones flying together autonomously, which they say could have applications in meteorology, land surveying, goods deliveries and beyond.
The researchers are also working on rolling out an agricultural application that can be used for the precision spraying of crops, and believe the technology could also play a role in decentralizing air traffic control systems as more and more unmanned aircraft take to the skies.
1 year ago
Nissan and Honda Explore Collaboration, Dismiss Merger Speculation
Japanese automakers Nissan Motor Co. and Honda Motor Co. confirmed ongoing discussions about potential collaboration on Wednesday but denied reports suggesting a merger decision.
Nissan shares surged over 22% in Tokyo following reports citing unnamed sources that the two companies might merge, forming the world's third-largest automotive group. Meanwhile, Honda's shares dipped nearly 3%. The reports also indicated that Mitsubishi Motors, a Nissan alliance partner, was part of the discussions.
The three automakers had previously announced plans in August to collaborate on electric vehicle (EV) components, such as batteries, and conduct joint research on autonomous driving software. Earlier in March, a preliminary agreement for cooperation between Honda, Japan's second-largest automaker, and Nissan, the third largest, was made public.
In response to the market reaction, Nissan and Honda released a joint statement clarifying that they are exploring "various possibilities for future collaboration" but have yet to make any final decisions.
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A merger, if realized, could create an automotive giant valued at approximately $55 billion, based on the combined market capitalization of Nissan, Honda, and Mitsubishi Motors. Such a move could strengthen their position to better compete with industry leaders Toyota Motor Corp. and Germany's Volkswagen AG.
Currently, Nissan is reevaluating its alliance with Renault SA while addressing financial challenges. The automaker recently announced plans to cut 9,000 jobs globally, equivalent to 6% of its workforce, and reduce production capacity by 20%. It reported a quarterly loss of 9.3 billion yen ($61 million).
Nissan CEO Makoto Uchida has emphasized the need for greater efficiency and adaptability to market trends. He recently took a 50% pay cut to accept responsibility for the company’s financial difficulties.
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Honda has also faced challenges, with profits declining nearly 20% in the first half of the fiscal year due to weaker sales in China. The rise of Chinese automakers and the industry's ongoing transition from fossil-fueled vehicles to EVs have created a challenging environment for Japanese automakers.
While a potential merger would increase their combined production capacity, Toyota, which produced 11.5 million vehicles in 2023, would remain Japan’s largest automaker. In comparison, Honda manufactured 4.2 million vehicles, Nissan 3.4 million, and Mitsubishi just over 1 million.
1 year ago
Apple iOS 18.2 Release: Key Features, Updates, Pros, and Cons You Need to Know
Apple has officially launched iOS 18.2, bringing a host of new features, updates, and improvements to enhance user experience. This latest release focuses on advanced AI capabilities, subtle design changes, and essential security upgrades, reflecting Apple’s forward-looking vision. From enhanced functionality to addressing user concerns, iOS 18.2 offers both exciting opportunities and some trade-offs. Here’s a breakdown of everything you need to know, including its standout features, pros, and cons.
Key Features of the Apple iOS 18.2
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Tech users are immersing themselves in AI tools. Smart device manufacturers are integrating AI into every possible widget and tool to keep up with the trend. iOS 18.2 seems to walk on the same path, too. The latest update has infused generative AI into different features and has also offered several AI-enhanced functionalities.
The major updates that Apple users will get in the new iOS are as follows.
ChatGPT Integration with Siri
The feature that has raised the loudest buzz among tech enthusiasts is the integration of ChatGPT with Siri. Now, Siri has become more powerful in responding to user queries by leveraging ChatGPT’s capabilities.
Read more: Apple’s iOS 18: Top Features, Supported Devices, and Key Updates You Need to Know
Siri was introduced to AI capabilities in the prior version of iOS. However, it is not very efficient in delivering the expected result as the AI was based on some shallow predefined algorithms. The new version introduces ChatGPT API to Siri to overcome that performance shortage.
Genmoji: Personalized Emoji Creation
Genmoji is a tool to create custom emojis using text prompts. It also has an image-uploading option that helps users create customized emojis. Unlike the limited emoji library of iOS 18.1, Genmoji will vastly change the game of emoji creation for Apple users.
So, emojis on iPhone are now unlimitedly diversified as users can create them just out of their imagination. Another key feature of Genmoji is its availability in messages. Users can fire up their chatbox with many different colours and expressions of emojis.
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Visual Intelligence (Exclusive to iPhone 16 Lineup)
Visual Intelligence is all about making a device visually intelligent. iOS 18.2 presents visual intelligence to iPhone users for the first time to provide additional camera capacity. Now, cameras on iPhones will be able to detect objects, translate text, and perform online searches. In prior, users had to install third-party apps to perform basic object detection.
Image Playground
Apple’s new Image Playground app does what its name says. It lets users play with images. The new Image Playground app allows users to generate visuals based on text prompts or sketches. This is a significant upgrade from iOS 18.1, which lacked native AI-driven creative tools.
Mail Categories
The Mail app in iOS 18.2 now sorts emails into categories such as Promotions, Primary, and Updates. This feature mimics popular email clients like Gmail and is a notable improvement over iOS 18.1’s rudimentary email organization.
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Enhanced Find My App
The Find My app has been upgraded to allow sharing item locations with trusted contacts and displaying contact information for lost items. These enhancements build on iOS 18.1’s basic item-tracking capabilities.
Lock Screen Volume Slider
The lock screen volume slider, a popular feature from earlier iOS versions, makes a comeback in iOS 18.2 after being absent in iOS 18.1. This allows users to make precise volume adjustments without unlocking their devices.
Volume Limit
iOS 18.2 introduces a Volume Limit setting, enabling users to set a maximum audio level. This addition is a step up from iOS 18.1, which required third-party apps for similar functionality.
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Custom Default Apps
For the first time, Apple allows users to set non-native apps as defaults for messaging, email, and browsing. This feature addresses a long-standing limitation of iOS 18.1.
Apple News Plus Sudoku
Subscribers to Apple News Plus now have access to daily Sudoku puzzles, adding a touch of entertainment to the news app.
Pros and Cons of iOS 18.2
Pros
- ChatGPT and Visual Intelligence bring cutting-edge functionality to Siri and the camera.- Genmoji and Image Playground offer unparalleled customization and expression.- Features like Mail Categories and lock screen volume control simplify daily tasks.- Despite some features being exclusive to the iPhone 16 lineup, most improvements are available across supported devices.- Allowing default app changes addresses a major user complaint.
Read more: Why did Indonesia ban Apple’s iPhone 16 series?
Cons
- High-end features like Visual Intelligence are restricted to newer devices.- Increased reliance on AI tools may raise questions about data security.- Some users may find it challenging to adapt to new features like Genmoji and Image Playground.- As with any major update, initial releases may include bugs that require subsequent patches.
Compatibility and Installation
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iOS 18.2 Compatible Devices
iOS 18.2 is available for:
iPhones starting from the iPhone 15 Pro.iPads and Macs running iPadOS 18.2 or macOS Sequoia 15.2.
How to Install iOS 18.2
Your iPhone may require a manual download to install the latest iOS. For the latest iPhones, you can easily install the update through the Software Update option under general settings. Once you find the option, just follow the on-screen instructions.
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Final Thoughts
iOS 18.2 is not merely a glimpse of Apple’s vision for the futuristic iPhone. It paves the path toward that vision. The new iOS will realign user experience by reflecting on the current trends and user expectations. While it has some limitations, particularly for users with older devices, the overall experience is undoubtedly enhanced. If you’re an iOS user with a compatible device, this update is worth exploring for its innovative features and usability improvements.
Read more: Apple’s upcoming iPhone SE 4 could redefine budget smartphones
1 year ago
Mystery Drone Sightings Across New Jersey and the U.S. Stir Concern
A surge in reports of mysterious drones flying over New Jersey and other parts of the eastern United States has led to heightened public curiosity and concern. State and federal officials, including New Jersey Governor Phil Murphy and U.S. Senator Andy Kim, have joined the effort to uncover the drones' origins and purpose, with investigations underway by the FBI, Homeland Security, and other agencies.
While authorities emphasize that the drones do not currently pose a threat to public safety, calls for stricter drone regulations and potential measures to neutralize them are gaining traction.
Drone Sightings Spark Debate
The drone activity, which began in mid-November, has included sightings near sensitive locations such as the Picatinny Arsenal and Trump’s Bedminster golf course. Despite deploying advanced federal equipment, officials have made little progress in identifying the drones or their operators. Governor Murphy urged Congress to grant states more authority to address drone-related concerns.
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Public Safety Risks Under Scrutiny
National security officials, including White House spokesperson John Kirby, have stated there is no evidence that the drones pose public safety or security risks, suggesting many could be lawfully operated hobbyist drones or even mistaken celestial objects. However, over 5,000 tips have been reported to the FBI, with about 100 requiring further investigation.
Speculation and Arrests
Despite the lack of evidence connecting the drones to foreign powers, some lawmakers speculate they could be part of surveillance efforts by adversarial nations. However, Pentagon officials dismissed such theories, noting the drones' conspicuous nature.
In Boston, two men were arrested for flying a drone dangerously close to Logan Airport, while a third suspect remains at large. In Ohio, drones prompted the temporary closure of Wright-Patterson Air Force Base airspace, though no significant impacts were reported.
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Calls for Action
Frustration over the lack of answers has led to calls from some lawmakers, including Senator Richard Blumenthal and Representative Chris Smith, to shoot down the drones for investigation. However, officials caution against such measures due to legal and safety implications.
Broader Concerns
Drone sightings have extended to New York City, where stricter regulations are in place. Governor Kathy Hochul has called on Congress to enhance the FAA’s authority and give local law enforcement greater powers to address the issue.
Authorities continue to investigate, but the source and intent of these mysterious drones remain unknown.
1 year ago
Trump hosts Apple CEO Tim Cook at Mar-a-Lago amid outreach efforts by big tech leaders
President-elect Donald Trump hosted Apple CEO Tim Cook for dinner Friday evening at his Mar-a-Lago resort, according to a source familiar with the meeting who was not authorized to speak publicly.
Cook joins a series of high-profile tech leaders, including OpenAI’s Sam Altman, Meta’s Mark Zuckerberg, and Amazon’s Jeff Bezos, seeking to foster better ties with Trump following strained relations during his first term.
Trump has previously discussed Apple’s protracted tax disputes with the European Union with Cook. The meeting comes shortly after Apple lost its final appeal in a case over €13 billion ($14.34 billion) in back taxes to Ireland. In an October podcast interview, Trump recounted a conversation where Cook said, “The European Union has just fined us $15 billion,” referring to the tax penalties.
The dispute, rooted in Ireland’s alleged preferential tax deals for Apple, concluded when the EU’s top court upheld the European Commission’s 2016 ruling, requiring Ireland to recover the unpaid taxes.
Neither Trump’s transition team nor Apple provided immediate comments on the dinner.
Meanwhile, other tech giants are also making moves to engage with the president-elect. OpenAI CEO Altman plans to donate $1 million to Trump’s inauguration fund, while Amazon and Meta confirmed their own $1 million contributions this week.
Amazon’s Bezos, who had clashed with Trump over issues such as The Washington Post’s political coverage and a $10 billion Pentagon contract, has recently softened his stance. At a recent summit, Bezos expressed optimism about Trump’s second term and supported plans to reduce regulations.
Similarly, Meta’s Zuckerberg, who met privately with Trump at Mar-a-Lago weeks before the donation, has taken a more positive tone toward the president-elect. Although he did not endorse a candidate during the 2024 campaign, Zuckerberg praised Trump’s handling of an assassination attempt earlier this year.
1 year ago
Meta to build $10 billion AI data center in Louisiana as Elon Musk expands his Tennessee AI facility
Meta, the parent company of Facebook, is set to construct its largest artificial intelligence (AI) data center in northeast Louisiana, a $10 billion project aimed at revitalizing the region’s economy. This announcement has sparked optimism among local leaders, though environmental groups have expressed concerns about the facility's reliance on natural gas energy and its potential impact on residents’ utility costs.
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Republican Governor Jeff Landry described the project as transformative for Louisiana’s growing technology sector. Located in Richland Parish, the facility is expected to generate 500 permanent jobs and 5,000 temporary construction jobs. Meta also plans to invest $200 million in local road and water infrastructure improvements to support the community.
The center, which will span 4 million square feet, is expected to be operational by 2030. To power the facility, utility company Entergy has proposed building three natural gas power plants capable of generating 2,262 megawatts over 15 years, nearly 10% of its current energy capacity. However, environmental advocates worry this could lock Louisiana into long-term dependence on fossil fuels and lead to higher electricity rates once Meta’s contract with Entergy ends.
Jessica Hendricks of the Alliance for Affordable Energy criticized the plan, warning that residents could bear the financial burden. In response, Public Service Commissioner Foster Campbell assured that the data center would not lead to rate hikes and emphasized its significance for an economically disadvantaged region.
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Meanwhile, Elon Musk's AI venture, xAI, is expanding its Memphis, Tennessee, supercomputer facility. The Memphis Chamber of Commerce reported that Nvidia, Dell, and Supermicro Computer are also establishing operations in the city, though further details were not disclosed.
Environmental groups have raised concerns about the environmental impact of Musk’s facility, which operates gas turbines contributing to smog in South Memphis, a predominantly Black area already burdened by industrial pollution. Critics have called for more transparency from xAI and greater community involvement in decision-making.
Both projects highlight the growing demand for AI-driven infrastructure, as a U.S. Commerce Department report forecasts a 9% annual increase in AI-related data center needs through 2030. However, the environmental and social implications of these developments continue to draw scrutiny.
1 year ago
TikTok challenges Canada's order to close its operations in the country
TikTok has challenged a Canadian government order to shut down the Chinese video-sharing app's business operations in the country that was imposed over national security concerns.
The company said Tuesday that it filed an application for a judicial review with the Federal Court in Vancouver on Dec. 5, which seeks to set aside the order for TikTok to wind-up and cease its business in Canada.
The Canadian federal government last month announced it was ordering the dissolution of TikTok Technology Canada Inc. after a national security review of its Chinese parent company ByteDance Ltd.
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The government is not blocking access to the TikTok app, which will continue to be available to Canadians. TikTok said it has 14 million users in Canada, which is about a third of the population. It has offices in Toronto and Vancouver.
The wildly popular platform is owned by ByteDance, a Chinese company that moved its headquarters to Singapore in 2020, but is under increasing pressure in the West. It's facing a possible ban in the U.S. and intensifying scrutiny in Europe over issues including election influence campaigns allegedly coordinated by Moscow.
TikTok argues in its court application, which was posted online, that Industry Minister François-Philippe Champagne's decision was “unreasonable” and “driven by improper purposes.” It says the order is “grossly disproportionate” and the the national security review was “procedurally unfair.”
The review was carried out through the Investment Canada Act, which allows the government to investigate foreign investment with potential to harm national security.
Champagne said in a statement at the time that the government was taking action to address “specific national security risks,” but did not elaborate. His office said in response to the filling that the government’s decision was informed by a “thorough national security review and advice from Canada’s security and intelligence community.”
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TikTok said Champagne “failed to engage with TikTok Canada on the purported substance of the concerns" that led to the order.
It argues the government ordered “measures that bear no rational connection to the national security risks it identifies" and that the reasons for the order “are unintelligible, fail to reveal a rational chain of analysis and are rife with logical fallacies.”
The platform says there were “less onerous” options than shutting down its Canadian business, which it said would eliminate hundreds of jobs, threaten business contracts and “cause the destruction of significant economic opportunities
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1 year ago
What did you search for in 2024? Google reveals top trends from elections to Copa América
Do you recall your 2024 searches? Google does.
On Tuesday, Google unveiled its annual “Year in Search,” compiling the top trending queries made on its search engine this year. The data highlights terms that experienced the most significant increase in traffic compared to 2023, covering major news events, global elections, popular songs, athletes, and unforgettable moments in pop culture.
Sports, especially soccer and cricket, were at the forefront of Google’s trending searches in 2024. Copa América ranked as the top global search trend, followed by the UEFA European Championship and the ICC Men’s T20 World Cup.
In the realm of news, the U.S. election led worldwide search queries. Searches for excessive heat and the Olympic Games also gained significant attention.
In the "people" category, U.S. President-elect Donald Trump topped the charts, followed by Catherine, Princess of Wales, U.S. Vice President Kamala Harris, and Algerian boxer Imane Khelif, who also led athlete-related searches. Among notable figures who passed away in 2024, Liam Payne, Toby Keith, and O.J. Simpson led the search trends.
On the entertainment front, Disney and Pixar's Inside Out 2 was the year’s most searched movie, while Netflix's Baby Reindeer led the TV show searches. Kendrick Lamar's "Not Like Us" was the top song.
Additionally, quirky search trends included inquiries about the Olympic village's chocolate muffin, which became famous through Norwegian swimmer Henrik Christiansen during the summer games, and the New York Times’ Connections puzzle, which topped game searches. In the U.S., searches also included online trends like the terms "demure" and "mob wife aesthetic."
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For more insights into country-specific trends and past year data, check out Google’s “Year in Search” online. The company gathered search data from January 1 to November 23, 2024.
Google isn't the only platform reflecting on 2024. Spotify Wrapped, Collins Dictionary, and Merriam-Webster's words of the year also offered their annual recaps.
1 year ago
IAEA Chief: Iran set to significantly boost stockpile of near-weapons-grade uranium
Iran is on the verge of dramatically increasing its stockpile of near-weapons-grade uranium, as it has activated cascades of advanced centrifuges, warned Rafael Mariano Grossi, the head of the International Atomic Energy Agency (IAEA), on Friday.
His remarks came shortly after Iran claimed a successful space launch, marking its heaviest payload to date, a development that the West believes enhances Tehran's ballistic missile capabilities.
The launch of the Simorgh rocket coincides with Iran's uranium enrichment at 60%, a step away from weapons-grade levels of 90%. While Iran asserts that its nuclear program is peaceful, officials are increasingly hinting at the potential development of nuclear weapons and intercontinental ballistic missiles to target distant adversaries, including the United States.
These actions are likely to escalate tensions in the broader Middle East, especially with the ongoing conflict between Israel and Hamas in Gaza and an uneasy ceasefire in Lebanon. However, Iran might also be positioning itself for possible negotiations with President-elect Donald Trump’s administration, following the U.S. withdrawal from the nuclear deal during his first term.
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A recent U.S. intelligence report stated that while Iran is not actively building a nuclear weapon, it is undertaking activities that would enable it to do so if it chooses. The report also warned that the debate within Iran over pursuing nuclear weapons could strengthen advocates for such a course, potentially influencing future Iranian leadership.
Grossi, speaking to journalists at the Manama Dialogue in Bahrain, said that IAEA inspectors planned to verify how many centrifuges Iran is operating after the country informed the agency of its plans. He expressed concern, noting that Iran had kept many facilities in reserve, now activating them, which could lead to a significant increase in uranium enrichment.
An IAEA statement confirmed that Iran had begun feeding uranium, enriched to 20%, into two cascades of advanced IR-6 centrifuges at its underground Fordo facility. The advanced IR-6 centrifuges enrich uranium faster than the IR-1 centrifuges, and using uranium enriched to 20% will expedite the process further.
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The IAEA also noted that Iran would begin feeding natural uranium into eight additional IR-6 cascades at Fordo to produce 5%-enriched uranium.
In late November, the IAEA had warned that Iran was preparing to use advanced centrifuges to enrich uranium, a move triggered by its failure to fully cooperate with the agency. Iran did not comment on the preparations.
Meanwhile, Iran’s successful Simorgh rocket launch took place at the Imam Khomeini Spaceport in Semnan province. The rocket carried an orbital propulsion system and the Fakhr-1 military satellite, marking the first time a military payload was included in Iran’s civilian space program.
The U.S. military referred questions about the launch to Space Command, which did not respond. Experts confirmed the successful insertion of the payload into orbit.
The United States has criticized Iran’s satellite launches, arguing they violate a U.N. Security Council resolution that bans activities related to ballistic missiles capable of carrying nuclear warheads. U.N. sanctions on Iran’s missile program expired in October 2023.
The U.S. intelligence community noted that Iran's space-launch vehicles, including the Simorgh, could accelerate the development of intercontinental ballistic missiles due to their shared technological similarities.
Despite Iran's denials of seeking nuclear weapons, U.S. and IAEA reports indicate that Iran had a military nuclear program until 2003. Under former President Hassan Rouhani, Iran had slowed its space program to avoid escalating tensions with the West. However, the late President Ebrahim Raisi, who took office in 2021, pushed the program forward. His successor, President Masoud Pezeshkian, has yet to announce a clear strategy on space ambitions, while the Revolutionary Guard also conducted a successful launch in September.
1 year ago
Bitcoin tops $100,000 as big rally sparked by Trump election win rolls on
Bitcoin has surpassed the $100,000 milestone as its value continues to surge, spurred by the election of Donald Trump and his crypto-friendly policies. This development follows Trump’s announcement of plans to nominate cryptocurrency advocate Paul Atkins as the next chair of the Securities and Exchange Commission (SEC), signaling a shift toward lighter regulation in the industry.
The cryptocurrency’s meteoric rise began on Election Day, climbing from $69,374 to a peak of $103,713, according to CoinDesk data. This rally comes just two years after Bitcoin plummeted below $17,000 following the collapse of the FTX exchange. However, its sustainability at the $100,000 mark remains uncertain, as the price briefly dipped to under $102,000 on Thursday.
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Cryptocurrency Basics
Cryptocurrencies are digital currencies that operate on decentralized networks, typically without backing from governments or banks. Bitcoin, the first and largest cryptocurrency, is recorded on a blockchain and is known for its high volatility. Other cryptocurrencies like Ethereum, Tether, and Dogecoin have also gained popularity, though traditional fiat currencies dominate daily transactions.
Factors Behind Bitcoin’s Surge
Trump’s election win has played a significant role in Bitcoin’s recent performance. The President-elect has pledged to make the U.S. a global hub for cryptocurrency and establish a “strategic reserve” of Bitcoin. His campaign embraced cryptocurrency donations, and he has launched a family venture for crypto trading.
The crypto community has welcomed Trump’s victory, anticipating regulatory reforms that could bring legitimacy while reducing red tape. His choice of Paul Atkins, known for opposing heavy market regulation, to lead the SEC aligns with these expectations. This marks a departure from the outgoing SEC chair Gary Gensler’s stricter regulatory approach, which faced criticism from industry stakeholders despite approving spot Bitcoin ETFs earlier this year.
Risks and Challenges
Cryptocurrency remains a high-risk investment due to its volatility. Bitcoin's history includes dramatic price swings, such as its rise to nearly $69,000 in 2021 before crashing below $17,000 amid rate hikes and the FTX collapse. While investor interest has rebounded, experts urge caution, particularly for those with limited resources. The anticipated lighter regulations under Trump may also reduce protective measures.
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Environmental Concerns
Bitcoin mining is energy-intensive and has drawn criticism for its environmental impact. Research indicates that mining emissions in 2020-2021 equaled those from burning 84 billion pounds of coal. While the industry has gradually shifted toward cleaner energy, fossil fuels still dominate its electricity supply.
The future of Bitcoin remains uncertain, with potential for further gains or losses, but its recent surge highlights the growing influence of political and regulatory factors on the crypto market.
1 year ago