Blockchain

3DOS Launching Decentralized “Uber for 3D Printing” on Sui

Grand Cayman, Cayman Islands, September 12th, 2024, Chainwire

3DOS chooses Sui as the exclusive blockchain partner to power its global decentralized peer-to-peer manufacturing network

Sui, a cutting-edge Layer 1 blockchain, announced a strategic alliance with 3DOS™, a leading innovator in decentralized manufacturing. The alliance promises to solve the coordination problems plaguing the $15.6 trillion global manufacturing market by coupling 3DOS’s expansive network of 3D printers, manufacturers, and customers with Sui’s advanced decentralized blockchain technologies. Sui’s industry-first zkLogin technology will make onboarding new users particularly easy for 3DOS by natively allowing millions of people to access the service using traditional social accounts like Google or Twitch.

Prior to engaging with Sui, the 3DOS founders pioneered one of the world’s first 3D printing operating systems and achieved remarkable results. So far, the platform has over 500,000 users, has manufactured 4.2 million parts, and has supported more than 15 million CAD designs across 120+ countries. Customers include John Deere, Google, MIT, Harvard, CalTech, UC Berkeley, Bosch, the British Army, the US Navy, the US Air Force, and NASA. These customers are currently being onboarded onto the network that 3DOS™ is building on Sui.

A heat map of 3DOS’s decentralized infrastructure, which is now migrating to the SUI Mainnet, with over 24,000 3D Printed NFT’s minted within a week since launch. Data as of Sept 9, 2024

The current partnership adds to 3DOS the redundancy, transparency, speed, and flexibility inherent in leveraging Sui’s industry-leading decentralized technology platform.

“At 3DOS, we believe that manufacturing should be decentralized. By tapping Sui to power our infrastructure, we now have the technology to enable this massive shift in our industry,” said John Dogru, Founder and CEO of 3DOS. “3DOS is a 3D Operating System, bridging the digital world to the physical world, allowing anyone to access manufacturing capacity and 3D printers anywhere empowering local producers and eliminating waste, inventory, and the carbon footprint associated with international shipping.”

Together, the technological innovations of the Sui and 3DOS combination will enable the massive global manufacturing industry to harness the power of localized production and eliminate the inefficiencies of high operational costs, and limited accessibility that currently plague it. The 3DOS/Sui solution addresses these continuing challenges and also vastly expands the world’s manufacturing potential by connecting siloed 3D printing capacity to massive demand around the world. In the process, the partners’ decentralized approach will reduce costs, democratize manufacturing, and open up new economic opportunities globally.

“Improving manufacturing processes is one of the world’s most important challenges, and the infrastructure that 3DOS is building on Sui marks a significant advancement that will catalyze economic growth and technological innovation,” said Adeniyi Abiodun, Chief Product Officer and Co-Founder of Mysten Labs which developed the Sui Network. “Through this partnership with 3DOS, Sui is helping to create a global decentralized manufacturing network that empowers more individuals and businesses to participate in the production of physical goods.”

The 3DOS platform leverages smart contracts on Sui to eliminate the overhead typically associated with coordinating supply and demand, which traditionally requires thousands of employees at Web2 companies and banks. By programming governing rules and processes directly into Sui’s blockchain, 3DOS achieves near-zero human intervention and infinite scalability. This approach optimizes resource efficiency and enhances supply chain transparency, reducing waste, improving cost-effectiveness, ensuring quality assurance, and facilitating global collaboration—all while empowering a diverse range of creators and innovators.

Contact

Sui Foundation
media@sui.io

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Strengthening Crypto Security: Bybit’s AI Risk Engine Fortifies Hot and Cold Wallets, Screening $1 Billion in Withdrawals in First Half of 2024

2024-09-20T12:29:38Z

DUBAI, United Arab Emirates, Sept. 20, 2024 (GLOBE NEWSWIRE) -- Bybit, the world's second-largest cryptocurrency exchange by trading volume, is stepping up its security efforts, using cutting-edge AI technology to fend off hackers and bad actors. In the first half of 2024, Bybit protected users by executing 32 million withdrawals and prevented the loss of over $79 million in client assets by vetting close to $1 billion in suspicious withdrawal attempts. More than $37 million in project funds were also safeguarded.

As part of its tiered approach to fund safety, Bybit’s focus on protecting hot wallets and cold wallets plays a critical role in preventing hacking and fraud. Bybit has strengthened its verification processes, applying extra scrutiny to large transactions and high-risk withdrawals. While most fraudulent attempts were prevented in the early stage, the exchange detected abnormal withdrawal requests involving over $940 million in cryptocurrency during the first six months of 2024, with over 8.4% confirmed as attempted fraudulent withdrawals.

Fraud Prevention in an Evolving Threat Landscape

As crypto adoption scales, fraudsters and hackers increasingly target individual users and institutional vulnerabilities. Bybit, as one of the leading crypto exchanges, stands as a critical line of defense against these threats, employing sophisticated AI-driven security protocols to foil illicit schemes. The rise of AI has emerged as an area of concern for security and risk experts, prompting service providers to reconfigure their security posture.

Covering Every Vulnerability with AI-Driven Protection

Bybit’s deployment of AI technology serves as a robust shield against evolving risks. From securing user wallet systems to detecting complex, AI-enabled fraud attempts, Bybit's enterprise-level AI fortifies each layer of its defenses.

All Bybit users can opt into multi-channel verifications and biometric authentication to ensure that their identities are securely verified. For instance, Bybit's risk engine recently thwarted an attempt involving face-swapping technology aimed at bypassing facial verification in its Know Your Customer (KYC) process. Thanks to its live face detection and virtual camera detection, Bybit's system swiftly blocked the attempt by the hacker.

With a proprietary risk control engine and user behavioral analytics models, Bybit streamlined fraud detection with a combination of both automated and human scrutiny. The wealth of data and algorithmic processes help the system and a team of over 50 risk and security experts detect irregular behavioral patterns and sound the alarm for suspicious activities. The approach significantly reduces the risk of unauthorized access, instructions and withdrawals.

A “Safety-first” Approach to Trading

“One of the main reasons users choose to use centralized exchanges is the high level of support and protection they offer. Bybit invests heavily in software, hardware and talent to ensure that our 40 million customers can trade with confidence, knowing that their assets are protected by the most secure blockchain security measures,” said Helen Liu, Chief Operating Officer of Bybit.

“We are pleased to have kept the fraudulent rate in withdrawals below 10% in the first half of 2024, and we are committed to strengthening our first lines of defenses to ensure that every aspect of the Bybit experience is safe and secure,” continued Liu.

Raising the Bar for Industry Security

Bybit has recently announced a comprehensive upgrade of its security measures. Verified by blockchain auditor CertiK, Bybit’s state-of-the-art safety model helped it secure a 10/10 trust score on CoinGecko. By leveraging multi-faceted security frameworks and heavily guarded vaults, Bybit ensures its users’ assets are stored in infrastructures designed to withstand even the most vigorous hacking attacks.

With its commitment to building lasting trust in the Web3 ecosystem, Bybit aspires to deliver the highest standards in security to set new security standards for the industry.

#Bybit /#TheCryptoArk

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 40 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

For more details about Bybit, readers can please visit Bybit Press.

For media inquiries, readers can please contact: media@bybit.com

For more information, readers can please visit: https://www.bybit.com

For updates, readers can please follow: Bybit's Communities and Social Media

Contact

Head of PR

Tony Au

Bybit

tony.au@bybit.com


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