Tokenization

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无Tokenizer时代真要来了?Mamba作者再发颠覆性论文,挑战Transformer
机器之心· 2025-07-12 04:50
Core Viewpoint - The article discusses the potential of a new hierarchical network model, H-Net, which replaces traditional tokenization with a dynamic chunking process, suggesting a shift towards end-to-end language models without tokenizers [3][4][22]. Group 1: Tokenization and Its Limitations - Tokenization is currently essential for language models, compressing and shortening sequences, but it has drawbacks such as poor interpretability and decreased performance with complex languages like Chinese, code, and DNA sequences [5]. - No end-to-end model without tokenization has yet surpassed the performance of tokenizer-based models under equivalent computational budgets [6]. Group 2: H-Net Model Overview - H-Net employs a hierarchical architecture that processes data in three steps: fine processing, compression abstraction, and output restoration [14][16]. - The core of H-Net is the dynamic chunking (DC) mechanism, which learns how to segment data using standard differentiable optimization methods [18][19]. - H-Net has shown superior performance compared to strong Transformer models based on BPE tokenization, achieving better data efficiency and robustness, especially in languages where tokenization methods are less effective [8][10][30]. Group 3: Experimental Results - In experiments, H-Net demonstrated significant improvements in character-level robustness and the ability to learn meaningful, data-dependent chunking strategies without heuristic rules or explicit supervision [9][10]. - H-Net's performance is comparable to that of BPE tokenized Transformers, with the potential to outperform them in certain scenarios, particularly in zero-shot accuracy across various downstream benchmarks [32][34]. - The model's ability to handle Chinese and code processing was notably better than BPE Transformers, indicating its scalability and efficiency [36][39].
Bitcoin hits another all-time high
CNBC Television· 2025-07-11 18:20
Let's talk some Bitcoin hitting higher highs. Traded above 118K for the very first time today. Let's bring in Tana McKielle who's been following that story.What can you tell us. Yeah, Scott. Quite different from the May 22 high, which was more of a blip at the front of a two-month consolidation period as many investors called it despite a 15% gain.Uh the rise started this week after the Fed minutes on Wednesday that triggered a massive wave of short liquidations that pushed the price up. I think the biggest ...
Bitcoin touches new all-time highs, topping $118,000 as institutions pile into ETFs
CNBC Television· 2025-07-11 15:52
Market Trends & Investment Opportunities - Bitcoin hits a new record, potentially signaling the start of a longer bull run, driven by institutional demand and regulatory tailwinds [1] - Historically, July and the fourth quarter are strong periods for Bitcoin [1] - Bitcoin ETFs experienced their biggest day of inflows this year, exceeding $1 billion, marking the second-largest inflow day on record for ETH ETFs [3] - Circle IPO provided reasons for investors to be interested in crypto beyond Bitcoin's price, reducing perceived risk [5][6] - Tokenization, including stablecoins, has helped revive ETH, which is outperforming Bitcoin ahead of its 10-year anniversary [4] Financial Performance & Liquidation - Over $655 million in Bitcoin and short Bitcoin positions were liquidated in the past 24 hours [2] Macroeconomic Factors - The Fed meeting at the end of the month should be monitored as a potential macro catalyst [3] Regulatory Landscape - Congress is making headway on legislation, and the White House is supportive of crypto [5][6]
Robinhood Has Just Unlocked a Huge Growth Opportunity
The Motley Fool· 2025-07-11 11:15
Core Viewpoint - Robinhood Markets is expanding its offerings by introducing tokenized shares of both public and private companies, aiming to attract a broader customer base and enhance trading activity on its platform [2][6][10]. Group 1: Company Growth and Popularity - Robinhood has seen significant growth, with over 25 million funded accounts in 2024, up from 10 million five years ago [1]. - The company has increased its revenue from $1.8 billion in 2021 to just under $3 billion in the past year, indicating a strong financial performance [10]. Group 2: Tokenized Shares Offering - The introduction of tokenized shares allows users to buy and sell contracts that track the price of underlying assets on a blockchain, with minimal costs [4]. - Tokenized shares are currently available in Europe, providing users exposure to popular U.S. stocks, while U.S. regulations limit their availability domestically [4][9]. - Robinhood is also offering tokenized shares of private companies like OpenAI and SpaceX, which raises questions about price tracking and regulatory compliance [5][8]. Group 3: Market Potential and Future Outlook - The move to offer tokenized shares could significantly increase trading activity on Robinhood's platform, especially in Europe [4][6]. - The potential for tokenization in the U.S. is being recognized, with favorable comments from the SEC Chairman, suggesting future opportunities in the crypto space [9]. - Robinhood's stock has increased over 310% in the past 12 months, reflecting strong investor interest, although it is trading at more than 50 times earnings [11][12].
Hyperscale Data Subsidiary Ault Markets Plans to Launch StableShare in Early 2026 – A Platform for Tokenized Securities, Real Assets and Global Markets
Globenewswire· 2025-07-11 10:59
Core Viewpoint - Hyperscale Data, Inc. is set to launch StableShare, a platform for tokenizing various asset classes, in Q1 2026, as part of a broader strategy to create a blockchain-based financial ecosystem [1][2][3] Group 1: Product Launch and Features - StableShare will enable the tokenization and management of public equities, private securities, real estate, and infrastructure projects, with all assets recorded on the Ault Blockchain for rapid settlement and transparency [3][4] - Ault Markets is also planning to introduce a decentralized exchange (DEX) to complement StableShare, both powered by the Ault Blockchain, which aims to provide institutional-grade speed and compliance [2][3] Group 2: Strategic Vision - The founder of Hyperscale Data envisions StableShare as the beginning of a fully digitized financial infrastructure, merging traditional finance with future technologies [3][4] - Ault Blockchain is described as the foundational layer where equity meets liquidity and compliance meets code, supporting the overall ecosystem of StableShare and the DEX [4] Group 3: Company Structure and Future Plans - Hyperscale Data operates through subsidiaries, including Sentinum, which focuses on data center operations and digital asset mining, and Ault Capital Group, which pursues growth through acquisitions [5][6] - The company plans to divest Ault Capital Group by December 31, 2025, transitioning to focus solely on data center operations and high-performance computing services [6][7]
X @The Block
The Block· 2025-07-11 08:35
Japanese property firm Gates Group to tokenize $75 million worth of Tokyo real estate via Oasys blockchain https://t.co/sLt3VhP1B4 ...
X @CoinDesk
CoinDesk· 2025-07-11 03:16
Market Trends - Ethereum (ETH) price surged to $3,000 [1] - The price increase is attributed to ETF cash flow and tokenization efforts [1]
X @Polygon
Polygon· 2025-07-10 18:58
NRWBANK, Germany’s largest regional development bank, has tokenized its first fully digital bond, with support from leading financial institutions like @DeutscheBank, @dzbank, and @DekaBank.Polygon will serve as the rails for the EUR 100 million bond, registered via Cashlink as a crypto security under the German eWpG.Global institutions are coming onchain, on Polygon 👀 ...