With the growing popularity of cryptocurrencies, we have also begun to witness some of the problems and limitations posed by the underlying technology — blockchain.
Countless products attempted to use blockchain as a technical solution to their problems in the early years of this industry. While some of these solutions have proven successful, others have run into some of blockchain’s inherent limitations.
The main issue is scale, as root blockchains such as Ethereum can only process 15–20 transactions per second. There are other issues as well, such as high gas prices and a lack of privacy. Root blockchains could theoretically…
Music streaming platforms have changed the way people listen to music in the twenty-first century. The top ten streaming sites alone have around 250 million monthly users. And why wouldn’t it? After all, a streaming platform allows fans to quickly locate their favorite artist’s song without any difficulty, and musicians receive a portion of the profit, earning almost $7,000 on one million Spotify listens.
Crypto feat. Music
After streaming platforms, the emergence of blockchain technology is another significant trend in the music industry. The introduction of cryptocurrency into the music business might be one of the most anticipated collaborations of this decade.
Blockchain is one of few technologies which has managed to grasp the attention of almost every industry. And why not, if a system can precisely store data with ease and protect it from counterfeiting? Taking advantage of this mode of recording data, it’s not difficult to see how blockchain technology can be combined with education. In fact, the applications are not new to the blockchain world, and have been discussed (and even implemented) extensively. I’ll round up a few of my picks in this post.
Storing Transcripts and Student records
A vital segment of the education sector is cataloging transcripts and student records. Documents such…
Crypto vs. Fiat: or Coexistence?
With the crypto sector exponentially progressing, many have wondered about the coexistence of cryptocurrency and fiat money and the future together. I will be talking about both sides of the crypto vs. fiat debate whether cryptocurrencies and fiat money can coexist or not in detail.
Crypto vs Fiat Money: Coexistence is possible
Technically, there is a fair possibility that cryptocurrency can coexist. Since the value of cryptocurrency is measured in fiat, and fiat is becoming increasingly digitized as we march toward a cashless society, their ecosystems are rapidly integrating. Moreover, there is a lot of conjecture about crypto replacing fiat currency to the extreme side.
Governments and…
‘The Flippening’, termed in 2017, refers to the possibility of Ethereum’s market capitalization overtaking Bitcoin’s market capitalization. Bitcoin (BTC) has a market cap of $707 Billion, while Ethereum has a $270 Billion market capitalization. The flippening is a hypothetical moment where Ethereum will become the largest cryptocurrency by market capitalization.
First — the Absolute Basics: What is Market Cap?
The market capitalization of a cryptocurrency is characterized based on the circulating supply multiplied by the current price. Bitcoin, the cryptocurrency starter, is ranked number one in the market cap, followed by Ethereum, which takes the second position.
Bitcoin vs. Ethereum
BTCs market domination saw a significant drop in recent years. This drop…
The crypto hodling strategy is quite popular. I’ve been doing it myself for many years. For those unaware — it is a method of buying Bitcoin, or any other cryptocurrency, and holding it as long as possible, in favor of long-term returns. While you are hodling, the cryptocurrency held is generally locked away in cold storage, making it unavailable for any purpose.
Even though there have been proven returns through this strategy, such as during the 2016 and 2017 bull market, there is no consistency of good returns over the long term. …
One of the new and influential types of technology introduced into the crypto world this year is NFT (Non-Fungible Token). If you’ve been keeping up with the crypto industry, there’s a strong chance you’ve already heard of them… and their prices, but we’ll look into that later.
Now while NFTs have escalated in popularity in recent months and have the attention of tycoons, it’s interesting enough to learn more about what NFTs are.
Today I’ve decided to give you a run-down into the fascinating world of NFTs with their different aspects of the use and the impact they have on…
The reason I love cryptocurrencies is that they are decentralized and are not controlled by any central organization. Since cryptocurrencies typically have a fixed supply, devaluation via inflation is often very unlikely.
How then, is the value of a crypto largely determined? Its value is dependent on general characteristics such as the number of individuals trading, its popularity, etc.
What are the biggest determinants of the price of the cryptocurrency?
Factors such as inflation rates, monetary policy, and economic growth are not going to affect cryptocurrencies as they are not issued by any central authority or backed by a Government. The price of the cryptocurrency is determined by the following factors.
- …
For all enthusiasts in the crypto community, the term DeFi has gained quite a following. Being popular for someday eliminating banks and centralization as a whole in all transactions, to begin with, DeFi has proved to be a sector worthy of attention. Of course, with its strong suits, certain attributes can still be improved.
Currently, DeFi holds a strong value in the crypto world that incorporates various features in its pocket. Some of them include blockchains, Decentralized exchanges (DEXs), stablecoins, assets trading, crypto lending and crypto staking, and Decentralized applications (dApps). DeFi is often associated with being a cost-effective financial…
There has been an endless discussion on the utility and potential of cryptocurrency for quite a while now, with a lot of exciting crypto trends shaping up for 2021. Aimed at being the absolute pinnacle of utopian transfer of currency, we have seen exponential growth in the amount of research that has gone towards exploring the practical applications of cryptocurrency. This system, albeit near perfection, is still subjected to heavy scepticism and criticism.
The crux of the problem is the stability and reliability of cryptocurrency by an average everyday individual. To cite an example at hand, we can look at…
