That the metaverse is taking the world by storm is no news. As per a Bloomberg report, the global metaverse market could be worth US$800 billion by 2024. With more and more companies and individuals flocking to this new, virtual space, there’s a growing demand for services within the metaverse.
One of the main concerns that every single crypto publication highlights about popular cryptocurrencies, like Bitcoin and Ethereum, is that they adversely affect the environment. The proof of work (PoW) model of cryptocurrency mining followed by Bitcoin and Ethereum (till they finally switch to proof of stake, or PoS) consumes a lot of electricity. In fact, Bitcoin mining consumes more electricity than the entire country of Finland.
“I love chaos”, tweeted Terra Founder, Do Kwon, just a few days before his crypto crashed to zero. For him, watching companies crumble during the crypto crash was “entertaining”…until his own did, leaving him “heartbroken” and broke. Whether he jinxed or calculatedly brought this misery upon himself is yet to be ascertained.
Billionaires, including Elon Musk and Mark Cuban, have waxed eloquent about meme coins. These are digital tokens that started as jokes but have since taken off in value. Some even credit meme coins for helping cryptocurrencies, in general, reach a larger audience.
With more and more people holding cryptocurrencies today, the crypto crash of May 2022 has had severe financial consequences. Reliable currencies, including Bitcoin and Ether, met a terrible fate, as did stablecoins, amounting to losses of over US$300 billion.
When it comes to financing and budgeting, most of us have to learn everything all by ourselves. From figuring out the right kind of investments to learning how to manage your spending habits, we all need to know more about handling our personal finances.
Smart contracts are the digital replacement for the middleman. They are decentralized digital agreements between two parties without any intermediaries. Previously, you would require a third party to create and oversee an agreement; now, with some blockchains, you require none.
If you trade in crypto frequently, then you understand how important it is to keep your digital assets safe. One way to do this is by using a hardware wallet. As per a report, the crypto hardware wallet market is set to be valued at US$877.69 million by 2026.
Ethereum is the second biggest cryptocurrency, both in token price and market capitalization, on the market today. It is widely used because, unlike Bitcoin, Ethereum is a network that has massive utility. NFTs and the entire space of decentralized finance (DeFi) were ushered in by Ethereum.
For years now, cryptocurrency has been synonymous with decentralization. That there is anonymity, transparency and no third-party monitoring by way of employing consensus mechanisms is advantageous.
Since its launch last year, Bored Ape Yacht Club (BAYC) has risen in popularity in the crypto space. The funky-looking monkeys in the form of non-fungible tokens (NFTs) were sold for millions of dollars. Its success might lead you to believe that everything associated with it will be profitable; well, that depends.
In cryptocurrency trading, you can choose to use a “hosted” wallet—by way of allowing the crypto exchange to hold and manage your crypto—or you can download a self-custodial wallet, of which you take full ownership. Given the growing number of such crypto wallets offering varying features, it can be challenging to decide which is the most ideal for you.
In February this year, a non-fungible token (NFT) project called Satoshibles was launched. The project is inspired by Bitcoin’s pseudonymous creator, Satoshi Nakamoto. At this point, it is common knowledge that most NFTs are on the Ethereum blockchain. But, the developers of the project wanted to create Satoshibles on the Bitcoin blockchain to honor Nakamoto’s legacy.
Over the years, decentralized applications, or dApps, have seen a meteoric rise in popularity. Known for their security, transparency and efficiency, dApps are quickly becoming the go-to choice for many crypto enthusiasts. In this article, we take a look at some of the most popular dApps in use today.
One of the major criticisms that crypto enthusiasts receive is that crypto mining takes up a lot of energy and adversely affects the environment. In fact, Bitcoin uses up 0.5% of all electricity worldwide and has the capacity to push global warming above 2°C. With such massive environmental costs, can crypto really reach its full potential? That is precisely where companies like Gather Network come in.