Category Archives: Satoshi Nakamoto

UXUY Sponsored Satoshi Awards Announced, Telegram & TON are … – GlobeNewswire

Singapore, Sept. 14, 2023 (GLOBE NEWSWIRE) -- The prestigious Web3 and cryptocurrency industry summit, TOKEN2049, kicked off in Singapore on September 13, 2023. On the same day, The Satoshi Nakamoto Awards, sponsored by UXUY, held its award ceremony at the Singapore FinTech Association, revealing all the major award winners. UXUY co-founder Jordan was in attendance and presented awards to those winners.

The TON team won Ecosystem of the Year at The Satoshi Nakamoto Awards. John Z from the TON Foundation delivered an acceptance speech at the award presentation. The day of September 13 marked a significant day in Telegram's history, as the social app with 800 million MAU ( Monthly Active Users ) officially launched a new self-hosted wallet called TON Space. This move is set to encourage more people to engage in the cryptocurrency space. John Z gave a demonstration of the wallet at the award ceremony, and the attendees highly praised TON for its contributions to expanding the cryptocurrency ecosystem.

UXUY co-founder Jordan presented The Satoshi Nakamoto Awards - Ecosystem of the Year to the TON team on stage.

Here are all the winners from this year's Satoshi Nakamoto Awards:


Taproot Wizard - Bitcoin Believer of the Year

Ordinals Protocol - Bitcoin Layer 2 of the Year

Shuning Hong - Bitcoin Researcher of the Year


Waterdrip Capital - Outstanding Bitcoin Contributor of the Year

Lido - Outstanding Ethereum Contributor of the Year

UniElon - Outstanding Dogecoin Contributor of the Year

Institutional Investors & Market Makers

A16z - Institutional Investor of the Year

LK Venture - Solid Institutional Investor of the Year

Arcane - Active Institutional Investor of the Year

Tide Capital - Emerging Institutional Investor of the Year

DFW Labs - Market Maker of the Year


Coinbase - Compliance Exchange of the Year

Kraken - Compliance Exchange of the Year in Europe

VDX - Compliance Exchange of the Year in Asia

Pionex - AI Trading Bot of the Year

Trading & Asset Management - Options Trading Tools of the Year

DeSyn - Asset Management Infrastructure of the Year

Renora Technologies - Profile Management of the Year

TokenUnlocks - The most Valuable on-chain tool of the Year

Marketplace - Marketplace of the year

Blur - NFT Marketplace of the Year

GoDID - DID Marketplace of the Year

ZORA - Emerging NFT Marketplace of the Year

Planckx - Most Innovative GamiFi of the Year

Public Goods

QuestN - GM of the Year ( Growth & Marketing Platform )

Coinlive - Multimedia Community of the Year in Asia

Web3vision - Builder Community of the Year

Akasha - Outstanding Public Goods Contributor of the Year

About UXUY

UXUY is the next-gen decentralized multi-chain trading platform based on MPC wallet and technology. Guided by the philosophy Your Crypto, You Control UXUY offers traders immediate cross-chain trading services for cryptocurrencies and digital asset types across the entire blockchain spectrum. By establishing a stablecoin-centric environment, UXUY provides users with a trading experience akin to traditional CEX platforms. UXUY significantly reduces the barriers to social trading on the blockchain.

About Satoshi Nakamoto Awards

The Satoshi Award is the cryptocurrency industry's first award aimed at recognizing contributors to the decentralized world. It brings together the industry's most outstanding practitioners, innovators, and contributors. They collectively explore the future of the industry, share cutting-edge technological innovations and perspectives, and promote the convergence of ideas and the spark of creativity. At the same time, the award also serves as recognition for the outstanding builders, projects, ecosystems, and investment institutions of the year, working together to create a superior cryptocurrency ecosystem.

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UXUY Sponsored Satoshi Awards Announced, Telegram & TON are ... - GlobeNewswire

The Iceberg of Blockchain Technology | by Adri Shahri | Sep, 2023 – Medium

Dream: An image depicting a visual representation of a blockchain network with interconnected blocks.

In our digital age, blockchain technology has emerged as a transformative force that transcends its origins. This summarized article delves into the ABCs of blockchain, exploring its fundamental structure, why it matters, the motivations driving its adoption, and the historical journey that brought us here. Well also navigate through various types of blockchains and their real-world applications. As we embark on this journey, remember that the world of blockchain is continuously evolving, and its poised to reshape the digital landscape in ways weve yet to fully fathom.

A Glimpse into Blockchains Past

The foundation for blockchain technology can be traced back to the pioneering work of cryptographer David Chaum in the 1980s. Chaums cryptographic research laid the groundwork for concepts related to digital currencies and secure communications. However, the breakthrough moment for blockchain occurred in 2008 when an enigmatic figure known as Satoshi Nakamoto introduced the world to Bitcoin, the first cryptocurrency, and the underlying technology that made it possible: blockchain.

Why Blockchain Matters

Blockchain matters because it represents a paradigm shift in how we approach digital transactions and trust. Traditional systems often require intermediaries to establish trust between parties. Blockchain, however, replaces intermediaries with a decentralized and transparent ledger. It enables secure, tamper-proof transactions, reduces fraud, and enhances transparency in sectors ranging from finance to supply chain management.

The Motivation Behind Blockchain

The motivation behind blockchain is rooted in the need for a more secure, efficient, and inclusive digital ecosystem. Satoshi Nakamotos vision for Bitcoin, the first cryptocurrency powered by blockchain, was to create a decentralized currency free from centralized control. Today, blockchains motivation extends beyond money. It seeks to empower individuals, promote transparency, and redefine how data and assets are managed.

Structure of Blockchain

At its core, a blockchain is a chain of blocks, each containing a list of transactions. These transactions are verified by network participants through a process called consensus. Once verified, transactions are added to a block and linked to the previous block, creating an immutable chain. This structure ensures the integrity of the ledger and prevents tampering.

Types of Blockchain and Real-World Examples

Blockchain comes in various flavors, including public, private, consortium, and hybrid blockchains. Public blockchains, like Bitcoin and Ethereum, are open to anyone and provide transparency. Private blockchains, like those used in enterprise settings, offer control and privacy, like Monero and ZCash. Hybrid blockchains combine features of different types like Ripple.

Example: Ethereum, a public blockchain, enables smart contracts, and self-executing agreements with various applications, including decentralized finance (DeFi) and non-fungible tokens (NFTs).

Applications of Blockchain

Blockchains applications are vast and continue to expand. Cryptocurrencies like Bitcoin and Ethereum revolutionize finance. NFTs redefine ownership and provenance in the art and collectibles world. Supply chain management leverages blockchain to ensure product authenticity. Voting systems (DAOs) use it for transparent and tamper-proof elections. Healthcare adopts it for the secure sharing of medical records.

As we conclude this journey through the ABCs of blockchain, its clear that this technology is more than just a buzzword; its a transformative force. Its impact on finance, supply chains, art, and even democracy is profound. But this is just the beginning. Blockchain is not just a technological innovation; its a catalyst for change. Embrace it, for its potential knows no bounds.

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The Iceberg of Blockchain Technology | by Adri Shahri | Sep, 2023 - Medium

How Bitcoin is boosting financial inclusion & empowering the unbanked – Business Insider Africa

How Bitcoin Boosts Financial Inclusion to Empower the Unbanked

When Satoshi Nakamoto launched Bitcoin, they had this notion in mind. They knew that accessing and using financial services reduces poverty while enhancing economic growth. While Bitcoin dominates the crypto world, other digital currencies have emerged. Some are even products of various countries' central banks. For instance, you can invest and try luck in oil trading with online trading apps like Oil Profit. Nevertheless, many see Bitcoin as the beacon of hope for those with limited access to financial services. Here's why.

Easy Access

Bitcoin allows individuals to access and use financial services from their mobile devices. To set up a crypto wallet and start receiving Bitcoin, you require a Smartphone that connects to the internet. That way, you can receive Bitcoin payments and transfer them. Also, you can join crypto exchanges to trade Bitcoin for profits.

Currently, several decentralized finance platforms provide various services to the unbanked. For instance, you can use these platforms to save money and access loans and insurance without the restrictions of traditional banks.

Faster and Low-Cost Transactions

Conventional financial institutions charge high fees for most transactions, including international remittances. Bitcoin does not require intermediaries because transactions are peer-to-peer, reducing costs significantly. When El Salvador made Bitcoin a legal tender, citizens' remittance costs dropped by 65%. Thus, even small businesses can lower transaction costs by embracing Bitcoin as a payment method.

Besides, Bitcoin transactions are faster because they do not involve intermediaries. Miners validate Bitcoin transactions within minutes. Thus, merchants can receive payments faster and invest funds in their operations by embracing this cryptocurrency.

Borderless Transactions

Bitcoin's decentralized network facilitates cross-border transactions without intermediaries. This cryptocurrency enables individuals to transfer and receive funds globally without traditional bank accounts. And this is particularly beneficial for individuals in places with limited conventional banking infrastructure and migrants.

Financial Empowerment

Satoshi Nakamoto wanted people to enjoy total control over their finances. This cryptocurrency can act as your bank. And you can access it anytime, anywhere. And this is particularly vital for people in places with economic and political instability or limited banking access. Bitcoin enables you to preserve wealth, enjoy financial autonomy, and protect your investment against inflation.

Entrepreneurship Opportunities

The unbanked population can access the global economy by embracing Bitcoin. This digital currency enables individuals to engage in digital entrepreneurship by fostering the creation and growth of new business models. And this promotes economic growth by creating opportunities that individuals can exploit and boost their livelihoods.

Final Word

Bitcoin is a beacon of hope for the unbanked populations in many countries. It promotes financial inclusion by enabling borderless transactions, enhancing access to financial services, empowering people with financial autonomy, and reducing transaction costs. If the unbanked population embraces Bitcoin, it can exploit the opportunities that Bitcoin presents and achieve economic empowerment by participating in global economic activities. Nevertheless, understanding how this virtual currency works and the economic growth opportunities it presents is vital for unbanked and financially excluded people to benefit from it.

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How Bitcoin is boosting financial inclusion & empowering the unbanked - Business Insider Africa

BSV Price Forecast 2023: Can Bitcoin SV Cross $50 Once Again? – The Coin Republic

Bitcoin Cash is a version of Bitcoin BSV follows the original plan of Bitcoin as written by Satoshi Nakamoto. BSV provides speed and reliability for online money and business blockchain uses. BSV has no limit on block size and allows advanced functions such as tokens, smart contracts, and computation. BSV is the closest to the original Bitcoin design.

Bitcoin SV crypto plummeted by 3.82% in market value and surged by 11.59% in trading volume in the last 24 hours, per Coinmarketcap which is a crypto data and information website. Its market value is $557,013,160 and its trading volume is $16,078,393. There are 19,266,077 BSV in circulation.

Bitcoin SV (BSV) open interest is $7.23 Million, as per Coinglass, which is a crypto analysis website, it fell by 4.86% in the previous session. The long versus short ratio for 24 hours is 0.9897.

The BSV crypto price has been plummeting for the last month by 19.66%, losing its value and creating lower highs and lows and descending.

The BSV crypto price is facing a lot of selling pressure and dropping every day. The bears are dominating and the price is not able to recover and follow trendline resistance. The 50.00% fibo level or $50 was breached in August 2023 and descended significantly.

The BSV crypto price might keep falling and reach or break the support levels of $27 and $23 if it does not maintain the current level and drops more.

On the other hand, if the price holds at the CMP level and breaks above the trendline, then it might reach the nearest target resistance levels of $34 and $40.

At the time of publishing, Bitcoin SV (BSV) is trading below 20, and 50 EMA, showing bearishness on daily charts. RSI is around 35, turned bearish and MACD indicates bearishness to consolidation. Collectively, the indicators view is bearish.

The BSV crypto price prediction shows a negative outlook and a lack of confidence from investors and traders in the daily time frame. Bitcoin SV price action reveals a downward trend at the time of writing. Moreover, the daily chart shows that the price will keep going down, according to the most trusted and widely used technical tools such as RSI, EMA, and MACD.

In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they dont establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.

Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.

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BSV Price Forecast 2023: Can Bitcoin SV Cross $50 Once Again? - The Coin Republic

What is The Difference Between Cryptocurrencies and Central Bank Digital Currencies? – TechRound

Examining the World of Cryptocurrencies: Bitcoin and Beyond

Cryptocurrencies have gained significant attention and popularity in recent years. Bitcoin, the first and most well-known cryptocurrency, was created in 2009 by an anonymous person or group of people using the pseudonym Satoshi Nakamoto. Since then, thousands of other cryptocurrencies have emerged, each with its own unique features and purposes.

Unlike traditional fiat currencies issued by central banks, cryptocurrencies are decentralised and operate on a technology called blockchain. Blockchain is a distributed ledger that records all transactions made with a particular cryptocurrency. This technology ensures transparency, security and immutability of transactions.

While Bitcoin remains the dominant and largest cryptocurrency by market cap, other digital currencies such as Ethereum, Ripple and Litecoin have also gained significant traction. These cryptocurrencies offer different functionalities and use cases, ranging from smart contracts and decentralised applications (DApps) to cross-border remittances and faster transaction confirmations. You can learn more about these cryptocurrencies and everything in the cryptoverse onCoinNewsand other crypto news aggregator sites.

Central bank digital currencies are digital representations of a countrys fiat currency issued by its central bank. Unlike cryptocurrencies, CBDCs are centralised and controlled by the respective central bank. CBDCs aim to combine the benefits of digital currencies, such as faster and more efficient transactions, with the stability and trust associated with traditional fiat currencies.

CBDCs can be categorised into two main types: wholesale CBDCs and retail CBDCs. Wholesale CBDCs are restricted to financial institutions and are primarily used for interbank transactions and settlements. Retail CBDCs, on the other hand, are accessible to the general public and can be used for everyday transactions, similar to cash or digital payment methods.

Several countries, including China, Sweden and the Bahamas, have already started experimenting with CBDCs. China, for example, has been piloting its digital yuan, also known as the Digital Currency Electronic Payment (DCEP), in various cities. These initiatives aim to explore the potential benefits and challenges of CBDCs and pave the way for their future implementation.

While CBDCs offer various advantages, such as increased financial inclusion and reduced transaction costs, they also raise concerns regarding privacy and security. Unlike cryptocurrencies, which provide pseudonymity and privacy, CBDCs can potentially enable central banks tomonitor and track every transactionmade with the digital currency.

Privacy concerns arise from the fact that CBDCs can provide central banks with detailed information about individuals spending habits and financial activities. This level of surveillance raises questions about personal privacy and the potential misuse of data by central authorities.

Security is another crucial aspect to consider when it comes to CBDCs. As digital currencies, CBDCs are susceptible to cyber-attacks and hacking attempts. Central banks must implement robust security measures to protect the digital infrastructure and ensure the integrity of the CBDC system.

The global financial landscape is undergoing a significant transformation, with an increasing number of central banks exploring the possibility of issuing CBDCs. The potential benefits of CBDCs, such as increased financial inclusion, reduced transaction costs and improved monetary policy effectiveness, are driving this shift toward widespread adoption.

CBDCs have the potential to revolutionise the way people transact and interact with money. They can provide a secure and efficient digital payment infrastructure, enable faster cross-border transactions and enhance financial stability. Additionally, CBDCs can facilitate the integration of unbanked populations into the formal financial system, promoting financial inclusion and economic development.

However, the implementation of CBDCs also poses challenges and requires careful consideration. Central banks must address privacy concerns, ensure robust security measures and navigate the complex regulatory landscape surrounding digital currencies.

In conclusion, cryptocurrencies and central bank digital currencies represent two distinct approaches to digital money. While cryptocurrencies operate on decentralised blockchain technology, CBDCs are centralised and controlled by central banks. Both have their advantages and challenges, and the future of finance will likely involve a combination of these digital currencies.

As the global shift towards widespread adoption of CBDCs continues, it is essential to carefully evaluate the implications and ensure a balance between innovation, privacy and security.

TechRound does not recommend or endorse any financial products or services. All articles are informational

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What is The Difference Between Cryptocurrencies and Central Bank Digital Currencies? - TechRound

Which Crypto To Invest In 2022 –

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Cryptocurrency has come a long way since the inception of Bitcoin in 2009. With its decentralized nature and potential for high returns, it has captured the attention of investors around the globe. As we gear up for the year 2022, many are wondering which cryptocurrencies are worth investing in. In this article, we will explore some of the top cryptocurrency options for the upcoming year.

Its important to note that cryptocurrency investments carry a level of risk, and its essential to do thorough research before making any investment decisions. However, by looking at the track record, market trends, and technological advancements, we can gain insights into the potential success stories in the crypto space.

In this guide, we will highlight several cryptocurrencies that have shown promise and have the potential to perform well in 2022. From established giants like Bitcoin and Ethereum to newer players like Cardano and Solana, lets dive into the details of each coin and what makes them worth considering for investment.

Bitcoin, often referred to as the king of cryptocurrencies, is the first and most well-known digital currency. Created by the pseudonymous Satoshi Nakamoto, Bitcoin has revolutionized the financial industry and paved the way for the crypto market as we know it today.

Investing in Bitcoin has historically been a profitable venture, with the cryptocurrency surging to new all-time highs throughout 2021. The limited supply of 21 million coins and the increasing acceptance from institutional traders and investors contribute to its continued growth.

2022 is expected to be an interesting year for Bitcoin. With the ongoing adoption by big-name companies and the potential for regulatory clarity, it could spur additional interest and push the price even higher. Additionally, the upcoming Bitcoin halving in 2024 is anticipated to have a positive impact on its value.

Bitcoins decentralized nature and secure blockchain technology make it an attractive option for long-term investment strategies. However, its important to keep in mind the volatility of the market and consider diversification in your investment portfolio.

While Bitcoin has established itself as a leading cryptocurrency, its important to stay updated on market trends and news that may impact its performance. Conduct thorough research and consult with financial experts before making any investment decisions.

In summary, Bitcoin continues to be a dominant force in the crypto market, and its potential for growth and stability make it an appealing choice for investors in 2022. However, its essential to approach any investment with a cautious mindset and to seek professional advice when necessary.

Ethereum is the second-largest cryptocurrency by market capitalization and holds a significant position in the crypto market. Unlike Bitcoin, Ethereum is not just a digital currency but also a platform that enables developers to build decentralized applications (dApps) and smart contracts.

One of the key factors that sets Ethereum apart is its focus on programmability. This allows developers to create their own tokens and build decentralized applications on the Ethereum blockchain, making it a hub for innovation within the crypto space.

In 2021, Ethereum underwent a significant upgrade known as Ethereum 2.0, which aims to improve scalability, security, and sustainability. This upgrade is expected to have a positive impact on the network, attracting more developers and users to the ecosystem.

Looking ahead to 2022, Ethereum is well-positioned to benefit from the continued growth of decentralized finance (DeFi) and non-fungible tokens (NFTs). The popularity of DeFi platforms and the booming NFT market have propelled Ethereums usage and demand for its native token, Ether (ETH).

Additionally, the upcoming implementation of Ethereum Improvement Proposal (EIP) 1559 is poised to introduce a transaction fee burning mechanism, potentially reducing gas fees and increasing the overall efficiency of the network.

With these developments and the strong community support behind Ethereum, it is anticipated to maintain its prominence in the crypto market throughout 2022. However, its important to note that Ethereum, like any other cryptocurrency, carries inherent risks, and investors should exercise caution when considering investment options.

To summarize, Ethereums adaptability, strong developer community, and growing use cases make it a promising investment option for 2022. Nonetheless, investors should conduct thorough research and stay informed about market trends to make informed decisions about their investments.

Cardano is a blockchain platform that aims to provide a secure and scalable infrastructure for the development of decentralized applications and smart contracts. Founded by Charles Hoskinson, one of the co-founders of Ethereum, Cardano has gained significant attention in the crypto market.

What sets Cardano apart is its commitment to scientific research and peer-reviewed development. The platform follows a rigorous approach, which includes formal verification, to ensure the security and reliability of its protocols.

In 2021, Cardano made significant progress with the launch of its highly anticipated Alonzo upgrade, which introduced smart contract functionality to the platform. This upgrade opened the doors for developers to build a wide range of decentralized applications on Cardano, positioning it as a competitor to Ethereum.

As we look ahead to 2022, Cardanos roadmap includes further upgrades and expansions, such as the implementation of decentralized governance and the deployment of a treasury system. These developments are expected to enhance the functionality and versatility of the platform, attracting more users and developers to the Cardano ecosystem.

Additionally, Cardanos focus on sustainability and environmental friendliness aligns with the growing demand for eco-conscious solutions within the crypto industry. As more investors prioritize environmentally friendly projects, Cardanos commitment to reducing its carbon footprint could attract further attention and investment.

While Cardano shows promise, its important to note that the platform is still in its early stages of development. As with any investment, its crucial to carefully assess and monitor the progress of the project before making any decisions.

To summarize, Cardanos commitment to scientific research, its successful launch of smart contracts, and its plans for further enhancements make it an intriguing investment option for 2022. However, investors should conduct their due diligence and keep an eye on the projects development before considering Cardano for their portfolio.

Binance Coin (BNB) is the native cryptocurrency of the Binance exchange, one of the largest and most popular cryptocurrency exchanges in the world. Created by Binance, BNB has evolved beyond just an exchange token and has become an integral part of the Binance ecosystem.

One of the significant factors driving the popularity of BNB is its utility within the Binance platform. BNB can be used to pay for transaction fees on the exchange, participate in token sales, and unlock additional features and benefits within the Binance ecosystem.

In 2021, Binance launched Binance Smart Chain (BSC), a blockchain platform that runs parallel to the Binance Chain. BSC offers a faster and more cost-effective alternative to other blockchain platforms, making it attractive for developers and users alike. The integration of BNB within BSC has further increased its utility and demand.

Binance has been actively working on expanding the use cases for BNB beyond its exchange. It has partnered with various projects to enable BNB as a mode of payment, as well as integrating BNB with decentralized finance (DeFi) platforms, allowing users to participate in various financial activities using BNB.

Looking forward to 2022, Binance has plans to roll out Binance Bridge, a cross-chain interoperability solution that will connect different blockchains and facilitate seamless asset transfer. This development opens up opportunities for BNB to expand its reach and utility beyond the Binance ecosystem.

Investing in BNB can be seen as betting on the continued success and growth of the Binance exchange and its ecosystem. However, its important to note that the crypto market is highly volatile, and factors like regulatory changes and market competition can impact the performance of BNB.

In summary, Binance Coin (BNB) offers a unique investment opportunity due to its strong utility within the Binance ecosystem and its expanding use cases. However, investors should thoroughly evaluate the risks and market conditions before considering BNB as part of their portfolio.

Solana (SOL) is a high-performance blockchain platform designed to scale and support decentralized applications (dApps) and cryptocurrencies. It aims to provide fast transaction speeds and low fees, making it an attractive option for developers and users alike.

One of Solanas key features is its innovative consensus mechanism called Proof of History (PoH). PoH timestamps transactions before they enter the blockchain, ensuring chronological order and enhancing scalability. This technology allows Solana to process thousands of transactions per second, making it one of the fastest blockchain networks available.

Solana has gained significant attention and popularity in 2021, with the platform experiencing rapid growth in terms of users, projects, and trading volume. This surge in adoption can be attributed to its fast transaction speeds, low fees, and developer-friendly environment.

As we look ahead to 2022, Solana is expected to continue attracting attention from developers and investors. With its robust technology and ecosystem, Solana has the potential to become a prominent player in the decentralized finance (DeFi) and non-fungible token (NFT) markets.

Furthermore, Solanas partnerships and integrations with various projects and platforms have increased its exposure and usage. This includes collaborations with popular DeFi protocols, gaming platforms, and NFT marketplaces, which further solidify Solanas position as a versatile blockchain platform.

However, its important to note that investing in any cryptocurrency comes with risks. The crypto market is highly volatile, and factors such as regulatory changes or market competition can affect the performance of any individual cryptocurrency, including Solana.

In summary, Solanas fast transaction speeds, low fees, and impressive scalability make it an intriguing investment option for 2022. Its growing ecosystem, partnerships, and increasing adoption in the DeFi and NFT markets all contribute to its potential for continued growth. Nevertheless, its vital for investors to conduct thorough research and consider their risk tolerance before making any investment decisions.

Polkadot (DOT) is a multi-chain platform that aims to connect different blockchains and enable them to communicate and share information. Created by Gavin Wood, co-founder of Ethereum, Polkadot offers a scalable and interoperable solution for the decentralized web (Web3).

One of the key features of Polkadot is its unique relay chain design. The relay chain serves as the main hub of the network, connecting and overseeing the operation of multiple interconnected parachains, each with its own specific purpose and characteristics.

Polkadots technology allows for seamless communication and interoperability between parachains, enabling them to share data and assets securely. This interoperability opens up a wide range of possibilities for developers to build cross-chain applications and services.

In 2021, Polkadot has gained significant attention and interest from the crypto community. The platforms ability to scale and its focus on security and governance have positioned it as a leading player in the blockchain space. Additionally, the growing ecosystem of projects and partnerships within the Polkadot network further strengthens its potential for growth.

As we look forward to 2022, Polkadots roadmap includes the implementation of parachain auctions, which will enable new projects to connect to the network and benefit from its infrastructure. This anticipated milestone is expected to attract more attention and investment to the Polkadot ecosystem.

However, its important to note that the success of Polkadot, like any other cryptocurrency, is subject to market conditions and competition. While Polkadot aims to address scalability and interoperability challenges, it still faces stiff competition from other blockchain platforms.

To summarize, Polkadots innovative architecture, focus on interoperability, and growing ecosystem make it an intriguing investment option for 2022. However, investors should carefully evaluate the projects progress, monitor market trends, and consider their risk tolerance before making any investment decisions.

Avalanche (AVAX) is a decentralized platform that aims to provide fast, scalable, and interoperable solutions for the blockchain industry. Founded by Emin Gn Sirer, an esteemed computer science professor, Avalanche offers a robust infrastructure for building and deploying decentralized applications (dApps).

One of the defining features of Avalanche is its consensus protocol, known as Avalanche consensus. This protocol allows for near-instant transaction finality, high throughput, and low transaction fees, making it an attractive choice for users and developers.

In 2021, Avalanche captured significant attention in the crypto market, with its ecosystem experiencing rapid growth. The platforms ability to handle high-demand applications, such as decentralized finance (DeFi) and non-fungible tokens (NFTs), has contributed to its increasing adoption.

Avalanche offers a comprehensive toolkit for developers, making it easier for them to build and deploy applications on the platform. This developer-centric approach has led to an expanding ecosystem of projects and partnerships, further strengthening Avalanches presence in the blockchain industry.

Looking ahead to 2022, Avalanche has plans to launch its highly anticipated Ethereum Virtual Machine (EVM) compatibility feature. This feature will enable developers to seamlessly port their existing Ethereum-based applications to the Avalanche network, opening up new possibilities and attracting more developers to the ecosystem.

It is essential to note that the crypto market is highly volatile, and investing in any cryptocurrency carries risks. Factors such as regulatory changes and technological advancements in competing platforms can impact the performance of Avalanche or any other individual cryptocurrency.

In summary, Avalanches fast and scalable infrastructure, interoperability, and developer-friendly environment make it a compelling investment option for 2022. Its growing ecosystem and upcoming Ethereum compatibility feature position it as a competitor and alternative to other blockchain platforms. However, investors should conduct thorough research, stay informed about market trends, and consider their risk tolerance before making any investment decisions.

Terra (LUNA) is a cryptocurrency and blockchain platform that aims to create a stable and scalable digital currency for global payments. The projects goal is to combine the stability of fiat currencies with the advantages of blockchain technology, bringing a new generation of decentralized financial services to the world.

One of the key features of Terra is its stablecoin ecosystem. Terra operates using a family of stablecoins, with TerraUSD (UST) being the flagship stablecoin pegged to the value of the United States dollar. These stablecoins aim to provide stability and reduce the volatility often associated with cryptocurrencies.

The Terra blockchain utilizes a unique algorithm called the Terra Money Protocol (Terra Swap) to maintain price stability by adjusting the supply of the stablecoins. This stabilizing mechanism, combined with the scalable nature of the Terra network, makes it well-suited for use in global payment systems and decentralized finance (DeFi) applications.

In 2021, Terra gained significant traction in the crypto market, attracting attention from investors and developers alike. The platforms stablecoin ecosystem and cross-chain capabilities make it an appealing option for those seeking efficient and stable digital currencies.

Moving into 2022, Terra has ambitious plans for further expansion. The platform aims to integrate with various financial institutions and payment providers to increase the adoption and usage of its stablecoins globally. Additionally, the Terra ecosystem is set to launch new DeFi protocols and applications, providing additional value and utility for the Luna token.

Despite its potential, its important to note that investing in any cryptocurrency carries inherent risks. The crypto market is highly volatile, and factors such as regulatory changes or market sentiment can impact the performance of Terra or any other individual cryptocurrency.

In summary, Terras stablecoin ecosystem and scalable blockchain infrastructure make it an intriguing investment option for 2022. The potential for wider adoption and integration into global payment systems further contributes to its appeal. However, investors should conduct thorough research, assess the risks involved, and consider their individual investment goals before making any decisions.

Chainlink (LINK) is a decentralized oracle network that seeks to bridge the gap between blockchain smart contracts and real-world data. The Chainlink network enables smart contracts to securely connect with external data sources, APIs, and payment systems.

One of the key challenges in blockchain technology is obtaining reliable and tamper-proof data from external sources. Chainlink addresses this by providing a decentralized oracle network that retrieves and verifies data before feeding it into smart contracts.

Chainlinks network is powered by a vast ecosystem of nodes, known as Chainlink oracles, which fetch data and provide it to smart contracts in a trustless manner. This decentralized approach ensures the integrity of the data, making Chainlink a vital infrastructure component for various blockchain applications.

In 2021, Chainlink continued to gain traction and solidify its position as a crucial player in the blockchain industry. The project secured numerous partnerships with reputable organizations and integrated with various blockchains, further expanding its reach and utility.

Looking ahead to 2022, Chainlink is expected to maintain its growth trajectory as more blockchain projects and enterprises recognize the importance of reliable external data in their smart contract applications. Additionally, the Chainlink team continues to work on research and development, enhancing their networks security, scalability, and usability.

Furthermore, Chainlinks expansion into decentralized finance (DeFi) creates opportunities for enhanced financial services, such as decentralized borrowing and lending, derivatives markets, and prediction markets. With its oracle services, Chainlink facilitates reliable price feeds and data inputs required for DeFi protocols to operate seamlessly.

Investing in Chainlink comes with risks as the cryptocurrency market is highly volatile. Factors like market conditions and technological developments can impact the performance of LINK. Its important for investors to conduct thorough research, assess the projects fundamentals, and consider their risk tolerance before making any investment decisions.

In summary, Chainlinks decentralized oracle network has gained significant adoption and is seen as a critical component for bridging blockchain with the real world. With ongoing partnerships and advancements in its technology, Chainlink is well-positioned for further growth and wider adoption in 2022. However, investors should exercise caution and perform due diligence when considering LINK as part of their investment portfolio.

In this article, we have explored several cryptocurrencies that show promise for investment in 2022. These cryptocurrencies, including Bitcoin, Ethereum, Cardano, Binance Coin, Solana, Polkadot, Avalanche, Terra, and Chainlink, represent a diverse range of blockchain projects with unique features and value propositions.

Bitcoin, as the pioneer in the cryptocurrency space, continues to be a dominant force with its decentralized nature and limited supply. Ethereum, with its smart contract capabilities and growing ecosystem, remains a leading platform for decentralized applications. Cardano stands out with its scientific approach and focus on interoperability.

Binance Coin benefits from its utility within the Binance exchange and its expansion into various use cases. Solana impresses with its fast transaction speeds and scalability, attracting developers and users alike. Polkadot aims to connect different blockchains, fostering interoperability for enhanced functionality.

Avalanche offers a stable and scalable digital currency solution, while Terra focuses on creating stablecoins for global payments. Chainlink acts as a critical oracle network, bridging the gap between blockchain smart contracts and real-world data.

While these cryptocurrencies present promising investment opportunities, its important to note that the crypto market carries risks. It is highly volatile and subject to various factors such as market conditions, regulatory developments, and competition.

Therefore, its crucial for investors to conduct thorough research, evaluate the fundamentals of each project, and stay informed about market trends. Diversification across multiple cryptocurrencies and exercising caution with investments are prudent strategies to mitigate risk.

Ultimately, the decision to invest in cryptocurrencies should align with individual risk tolerance, investment goals, and the understanding that the crypto market can experience significant fluctuations.

In conclusion, the cryptocurrencies discussed in this article show promise for investment in 2022. However, proper due diligence and careful consideration of individual circumstances are essential for making informed investment decisions in the ever-evolving world of cryptocurrencies.

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The new internet is here with AI, blockchain and IPv6, and India is … – CoinGeek

IPv6 is the next generation internet, and India is the pioneer, Dr. Satya Gupta says. In an interview withCoinGeek Backstage, he talked about how IPv6 integrates with 5G and AI to usher in a new era of the internet and why this can only be powered by a universal blockchain network with unbounded scaling.

Indias success with IPv6 stems from necessity. The second-most populated country with over 1.4 billion people, Indias need for IP addresses outweighs most of its peers. As such, the government has ordered all service operators to switch to IPv6 by a set date.

India has the highest number of IPv6 users. In fact, more than half of all IPv6 users in the world are in India, Gupta told CoinGeeks Becky Liggero on the sidelines of theLondon Blockchain Conference.

While IPv6 is critical for the future of the internet, Gupta noted that it must integrate with other emerging technologies to be of real value. They include 5G andartificial intelligence(AI), with the latter grabbing all the headlines in recent years. Blockchain is the only network that can power this new internet, he added.

In hispanelat the conference, Gupta talked about how blockchain can bring trust and security to the IPv6 and IoT world.

Blockchain enables trust-as-a-service. The main thing IoT lacks is trust and security, and blockchain provides bothIf you then combine all four technologies, you can provide everything as a service, stated Gupta, whos the chairman of the Blockchain for Productivity Forum.

To illustrate the power of this new era of the internet, Gupta revealed that he created the concept of DeWi, or decentralized Wi-Fi. India has over 20 million Wi-Fi hotspots, and more spring up daily. He believes thatblockchaincan combine them all, allowing interoperability between all operators and easy roaming for consumers.

Payment companies can tap into this network and offer seamless payments, pushing financial inclusion in a country home to130 millionunbanked adults.

DeWi is just the start, Gupta says. With these four technologies, humanity can solve some of its most pressing needs and make a leap toward better living standards for all.

One world, one blockchain

Only blockchain technology can underpin this bold new world. However, there are over 10,000 networks today, and blockchain tribalism, as well as financial interests, have led to every group believing that theirs is the best network.

For the new internet to work, we need one universal blockchain, Gupta told CoinGeek Backstage.

The communications industryveterandrew parallels between blockchain and the internet. In the latters early days, there were several competing protocols, with every other major tech giant building its own. However, the internet only got off the ground after the world settled on TCP/IP as the one protocol to rule them all.

We must zero in on one network for the world, Gupta says. This is the only way to scale blockchain adoption.

Unification is a common theme this year, with this yearsG20theme being One earth, one family, one future.

Ive added one blockchain to the slogan, Gupta said.

For any one blockchain to become a global network, it needs to have a stable protocol that inspires confidence, must scale unbounded to support billions of users, and must keep its fees so low that everyone can afford to use it. Only theoriginal Bitcoin protocol, restored by Satoshi Nakamoto as BSV meets all the criteria.

The BSV blockchain has already won this race, and all thats left is spreading the message to everyone that a win for BSV blockchain is a win for humanity, Gupta concluded.

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Why Incessant FUDs on Binance? – Tekedia

Binance is one of the largest and most popular cryptocurrency exchanges in the world. It offers a wide range of services, such as spot trading, futures trading, margin trading, staking, lending, and more. It also supports hundreds of cryptocurrencies and tokens, including its own native token, BNB.

However, despite the fear, uncertainty and doubt (FUD) that has been surrounding Binance in recent months, the leading cryptocurrency exchange platform continues to demonstrate its resilience, innovation and influence in the crypto space. Binance has faced regulatory challenges, security breaches, and public scrutiny, but it has also launched new products, services and initiatives that aim to advance the adoption, development and democratization of crypto assets. Some of the issues that have plagued Binance include:

Regulatory scrutiny and legal challenges from various countries and jurisdictions, such as the UK, Japan, Germany, Italy, Thailand, Singapore, and the US. Some of these regulators have accused Binance of operating without proper licenses or authorization or violating anti-money laundering and consumer protection laws.

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Technical glitches and outages that have affected its platform and services, causing delays, errors, and losses for some users. For example, in May 2021, Binance suffered a major system outage that lasted for several hours and prevented users from accessing their accounts or executing trades.

Security breaches and hacks that have compromised its security and reputation. For example, in May 2019, Binance was hacked and lost 7,000 BTC (worth about $40 million at the time) from its hot wallet. Although Binance covered the losses with its own funds and no user funds were affected, the incident raised concerns about its security measures and practices.

Community backlash and user complaints that have tarnished its image and trustworthiness. Some of these complaints include:

Accusations of market manipulation and insider trading by Binance or its affiliates. For example, some users have claimed that Binance has deliberately crashed or pumped the prices of certain coins or tokens to benefit itself or its partners.

Allegations of censorship and bias by Binance or its staff. For example, some users have reported that Binance has deleted or hidden negative comments or reviews on its social media platforms or forums.

Disputes over customer service and support by Binance or its agents. For example, some users have complained that Binance has failed to respond to their queries or requests in a timely or satisfactory manner or has refused to provide adequate compensation or solutions for their issues.

All these issues have contributed to a phenomenon known as FUD (fear, uncertainty, and doubt) among the crypto community and the general public. FUD is a term used to describe negative sentiments or emotions that can affect the perception and behavior of investors or traders. FUD can cause panic selling, price drops, reduced confidence, and lower adoption.

FUD can also be spread intentionally or unintentionally by various actors or sources, such as:

Competitors or rivals who want to undermine or discredit Binances reputation or market share.

Media outlets or influencers who want to generate clicks or views by sensationalizing or exaggerating Binances problems or controversies.

Regulators or authorities who want to discourage or restrict Binances operations or activities in their jurisdictions.

Hackers or scammers who want to exploit Binances vulnerabilities or weaknesses to steal funds or data from its users.

Trolls or haters who want to cause chaos or damage for fun or personal reasons.

FUD can have serious consequences for Binance and its users. It can affect its growth potential, profitability, innovation, customer loyalty, and social impact. It can also create a negative feedback loop that can amplify the FUD and make it harder to overcome. Therefore, it is important for Binance and its users to be aware of the FUD and how to deal with it. Some of the possible ways to combat FUD include:

Educating oneself and others about the facts and realities of Binances situation and performance. This can help dispel misinformation, rumors, or myths that may fuel FUD.

Supporting and engaging with Binances community and initiatives. This can help foster a sense of belonging, trust, and positivity among Binances users and stakeholders.

Reporting and exposing any malicious or fraudulent activities that may harm Binances security or integrity. This can help prevent or mitigate any potential losses or damages caused by hackers or scammers.

Providing constructive feedback and suggestions to Binances team and management. This can help improve Binances services, products, features, and policies.

Diversifying ones portfolio and risk management strategies. This can help reduce ones exposure and dependence on Binances performance or outcomes.

FUD is inevitable in the crypto space, especially for a leading player like Binance. However, FUD is not insurmountable. By being informed, proactive, supportive, vigilant, and resilient,

Competition: Binance faces fierce competition from other cryptocurrency exchanges that offer similar or better services and products. Some of these competitors include Coinbase, Kraken, Huobi, OKEx and Bitfinex. These exchanges may have advantages over Binance in terms of market share, reputation, regulation, security or innovation.

For example, Coinbase is one of the most regulated and trusted exchanges in the US market and has recently gone public on Nasdaq. Kraken is also pursuing a public listing and has obtained a banking charter in Wyoming. Huobi has a strong presence in China and Asia and has launched its own blockchain platform called Huobi Chain.

Community backlash: Binance has also faced criticism from some members of the cryptocurrency community for its actions or policies that may be seen as unethical or unfair. For example, in April 2020, Binance delisted Bitcoin SV (BSV), a controversial fork of Bitcoin Cash (BCH), after its founder Craig Wright threatened to sue anyone who disputed his claim of being Satoshi Nakamoto, the creator of Bitcoin.

In July 2020, Binance acquired CoinMarketCap (CMC), one of the most popular websites for tracking cryptocurrency prices and data, raising concerns about potential conflicts of interest and manipulation of rankings. In August 2020, Binance launched its own blockchain platform called Binance Smart Chain (BSC), which some critics accused of being centralized and copying Ethereums features.

These are some of the reasons why FUD incessant on Binance. However, despite the FUD, Binance remains one of the most influential and innovative players in the cryptocurrency industry. It has also taken steps to address some of the issues it faces and improve its services and products. For example, it has launched new initiatives such as Binance Charity Foundation (BCF), Binance Academy (BA), Binance Research (BR) and Binance Labs (BL) to support social causes, education, research and innovation in the crypto space. It has also partnered with various organizations and institutions such as TravelbyBit (TBB), Swipe (SXP), WazirX (WRX) and (CRO) to expand its ecosystem and reach new markets.

Binance has shown resilience and adaptability in responding to the changing regulatory landscape and customer needs. Binance has also reaffirmed its commitment to working with regulators and authorities to ensure compliance and cooperation. Binance has stated that it welcomes constructive guidance and feedback from regulators, as it strives to create a more sustainable and secure environment for the industry.

Binances vision is to increase the freedom of money for everyone in the world. Binance believes that cryptocurrency is a powerful tool to empower people and create more opportunities and value. Binances mission is to provide the best platform and services for users to access and benefit from the cryptocurrency ecosystem. Binances values are customer-centric, innovative, collaborative, transparent, and responsible.

Binance is not just an exchange, but a community and a movement. Binance has a loyal and passionate user base, who support and contribute to its growth and development. Binance also has a strong and diverse team, who share the same vision and values. Binances team is composed of experts from various fields and backgrounds, who bring their skills and experience to the table. Binances team is also distributed across different regions and time zones, which allows them to serve their global user base effectively.

Binance is not afraid of challenges but embraces them as opportunities to learn and improve. Binance is not complacent with its achievements, but constantly seeks new ways to innovate and add value. Binance is not isolated from the industry, but connected and supportive of its peers and partners. Binance is not only a leader, but also a follower of the industry trends and best practices.

Binance is here to stay, and here to grow. Binance is confident that it can overcome any obstacles or difficulties that may arise along the way. Binance is optimistic that it can continue to deliver on its promises and expectations. Binance is grateful for the trust and support of its users and stakeholders. Binance is proud of its role and contribution to the cryptocurrency industry.

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Franklin Templeton Explores Exciting Territory with Bitcoin ETF – The Currency Analytics

In a groundbreaking announcement, Franklin Templeton, a renowned financial powerhouse overseeing a staggering $1.5 trillion in assets, has unveiled plans to venture into the world of cryptocurrencies. The companys bold move, disclosed in a recent filing, involves the launch of a Bitcoin Exchange-Traded Fund (ETF) and aims to have it listed on the Cboe BZX Exchange. This strategic decision catapults Franklin Templeton into the expanding group of financial institutions eagerly seeking approval from the Securities and Exchange Commission (SEC) for Bitcoin ETFs.

The emergence of traditional financial giants like Franklin Templeton into the cryptocurrency arena signifies a significant shift in the financial landscape. With Bitcoins prominence skyrocketing in recent years, this move reflects the growing recognition of cryptocurrencies as a legitimate and valuable asset class. Lets delve deeper into this groundbreaking development and its potential implications.

Unlocking the World of Bitcoin ETFs

Franklin Templetons foray into the realm of Bitcoin ETFs holds considerable promise for both the company and the wider financial market. Exchange-Traded Funds are investment vehicles that enable investors to gain exposure to a specific asset or group of assets, much like traditional stocks. In this case, Franklin Templeton is seeking to offer an ETF backed by Bitcoin, allowing investors to indirectly invest in the worlds most famous cryptocurrency.

One of the key advantages of ETFs is their accessibility. Unlike buying and storing Bitcoin directly, which can be daunting for some, investing in a Bitcoin ETF is as straightforward as trading stocks on a traditional exchange. This user-friendly approach could open the door to a broader and more diverse range of investors who have been hesitant to enter the crypto space.

A Growing Trend in the Financial World

Franklin Templetons move follows a growing trend of established financial institutions exploring the potential of Bitcoin ETFs. The allure of these ETFs lies in their potential to provide investors with exposure to the cryptocurrency market while maintaining the familiar regulatory framework of traditional financial markets.

Several financial giants have already submitted proposals for Bitcoin ETFs to the SEC, signaling a strong appetite for this innovative investment vehicle. The approval of a Bitcoin ETF would represent a significant milestone in the mainstream acceptance of cryptocurrencies.

Navigating Regulatory Hurdles

While the prospect of Bitcoin ETFs is undoubtedly exciting, its essential to acknowledge the regulatory challenges they face. The SEC, responsible for safeguarding investors and maintaining the integrity of U.S. financial markets, has been cautious in its approach to approving cryptocurrency-related products.

The SECs primary concerns revolve around investor protection and market manipulation. To address these concerns, applicants for Bitcoin ETFs must demonstrate robust security measures and safeguards to protect investors from potential risks. Additionally, they must prove that the Bitcoin market is resistant to manipulation, a hurdle that has proven elusive thus far.

Franklin Templeton, like other applicants, will need to work closely with the SEC to address these concerns and gain approval for its Bitcoin ETF. The regulatory process may take time, but the potential rewards are substantial.

Bitcoins Unprecedented Rise

Bitcoin, often dubbed digital gold, has experienced an unprecedented surge in popularity and value over the past decade. Created in 2009 by an anonymous individual or group known as Satoshi Nakamoto, Bitcoin is a decentralized digital currency that operates on a blockchain, a distributed ledger technology. Its finite supply of 21 million coins and the absence of a central authority have fueled its appeal as a store of value.

In recent years, Bitcoins price has seen remarkable fluctuations. From its humble beginnings with virtually no monetary value, it reached an all-time high of over $60,000 per Bitcoin in 2021, drawing the attention of investors, institutions, and the media worldwide. This meteoric rise has sparked a wave of interest in cryptocurrencies and blockchain technology.

Potential Benefits of a Bitcoin ETF

The launch of a Bitcoin ETF could offer several advantages to investors and the broader financial market:

The Road Ahead

As Franklin Templeton embarks on this exciting journey into the realm of Bitcoin ETFs, it underscores the evolving landscape of finance. The blending of traditional finance with the world of cryptocurrencies represents a profound shift in how we perceive and utilize assets in the digital age.

However, its essential to remember that regulatory hurdles remain on this path. The SECs cautious approach reflects the need to protect investors and ensure the integrity of financial markets. As Franklin Templeton, alongside other applicants, works diligently to address these concerns, the outcome will have far-reaching implications for the broader adoption of cryptocurrencies.

Closing Thoughts

Franklin Templetons decision to explore the realm of Bitcoin ETFs is a testament to the ever-evolving financial industry. The convergence of traditional finance and cryptocurrencies heralds a new era of investment opportunities and possibilities. As the regulatory landscape continues to evolve, we can anticipate more financial giants making similar strides into the cryptocurrency space.

This groundbreaking move by Franklin Templeton signals a growing acceptance of cryptocurrencies as a legitimate and valuable asset class. Whether or not the SEC grants approval for Bitcoin ETFs, the journey of exploration and innovation in the world of finance is well underway, shaping the future of investment for years to come.

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Roadmap For Regulations On Crypto Assets, Stablecoins To Be Discussed In October; What To Expect? – Goodreturns

The leaders in the G20 summit are closely monitoring the risks of the fast-paced developments in the cryptoasset ecosystem. The New Delhi Declaration while endorsing the Financial Stability Board's (FSB's) high-level recommendations on crypto-assets and stablecoins activities, has also revealed that Finance Ministers and Central Bank Governors will discuss the roadmap on cryptocurrency in a meeting scheduled in October month.

"We continue to closely monitor the risks of the fast-paced developments in the cryptoasset ecosystem. We endorse the Financial Stability Board's (FSB's) high-level recommendations for the regulation, supervision and oversight of crypto-assets activities and markets and of global stablecoin arrangements," the New Delhi Declaration said.

Further, the declaration revealed that G20 leaders have asked the FSB and SSBs to promote the effective and timely implementation of these recommendations in a consistent manner globally to avoid regulatory arbitrage.

The declaration welcomed the shared FSB and SSBs workplan for crypto assets. We welcome the IMF-FSB Synthesis Paper, including a Roadmap, that will support a coordinated and comprehensive policy and regulatory framework taking into account the full range of risks and risks specific to the emerging market and developing economies (EMDEs) and ongoing global implementation of FATF standards to address money laundering and terrorism financing risks.

In the IMF-FSB Synthesis Paper: Policies for Crypto-Assets, it said, "At the request of the Indian G20 Presidency, the IMF and the FSB have developed this paper to synthesise the IMF's and the FSB's (alongside SSBs') policy recommendations and standards. The collective recommendations provide comprehensive guidance to help authorities address the macroeconomic and financial stability risks posed by crypto-asset activities and markets, including those associated with stablecoins and those conducted through so-called decentralised finance (DeFi)."

The IMF-FSB paper looks at the key risks to macroeconomic stability, financial stability, and other areas (such as legal, financial integrity and market integrity-related risks), posed by crypto-asset activities. It then presents policy responses to these risks in the areas of --- macro-financial policies; financial stability regulation; and other policies and regulations.

Some of the risks identified by the paper is that the widespread adoption of crypto-assets could threaten the effectiveness of monetary policy. The transmission of monetary policy would weaken if firms and households prefer to save and invest in crypto-assets that are not pegged to the domestic fiat currency or to use them as payment instruments or mediums of account.

Also, the spread of crypto-assets can increase fiscal risks. New fiscal risks can arise from the financial sector's exposure to the crypto-asset ecosystem, the lack of clarity of tax regimes, and the cross-border nature of crypto-assets. In turn, crypto-assets can affect tax revenue collection and compliance, even when not adopted as legal tender, the paper said.

If crypto-assets are granted legal tender status or official currency status, government revenues could be exposed to exchange-rate risk. Such risks would be significant if taxesare quoted in advance in a crypto-asset while expenditures remained mostly in other local currencies, the paper further highlighted.

Moreover, the paper explained that crypto-asset adoption can increase risks to public finances even without changing legaltender or official currency laws. Pseudonymous crypto-assets can undermine tax revenue collection and compliance since withholding taxes and third-party information could be challenging to collect. Finally, differences in cross-border tax treatment of crypto-assets may open loopholes for tax avoidance.

The roadmap recommended by IMF-FSB includes planned and ongoing work related to the implementation of crypto-asset policy frameworks, which taken together seek to: build institutional capacity beyond G20 jurisdictions; enhance global coordination, cooperation, and information sharing; and address data gaps necessary to understand the rapidly changing crypto-asset ecosystem.

The progress report will be reported to the Finance Ministers and Central Bank Governors (FMCBG) in the meeting.

Lastly, the New Delhi Declaration also welcomed the BIS Report on The Crypto Ecosystem: Key Elements and Risks.

Under the BIS report, there are three main takeaways. First, due to underlying economic incentives, the crypto ecosystem is characterised by congestion and high fees, which lead to fragmentation. Second, despite an original ethos of decentralisation, crypto and decentralised finance (DeFi) often feature substantial de-facto centralisation, which introduces various risks. Third, while DeFi mostly replicates services offered by the traditional financial system, it amplifies known risks. Moreover, as DeFi does not finance activity in the real economy, its growth is driven by the speculative influx of new users, with substantial risks to investors.

In conclusion, the BIS report outlines policy options to mitigate the multiple risks crypto poses to investors, the traditional financial system and the economy at large.

Before the global financial crisis in 2008, cryptocurrency were not so much in trend, however, it gained popularity when someone created Bitcoin in 2019. Up till this date, the creator of Bitcoin is a debatable topic, Some of the key names that came to light to be linked with Bitcoin would be a person, or group of people, using the alias Satoshi Nakamoto. It is still not proven who created Bitcoin.

Bitcoin which is currently the largest cryptocurrency in the market, influenced many other births of new cryptos and stablecions. Notably, the stablecoins gained popularity from 2020.

Nevertheless, Bitcoin and the overall general crypto market have been a matter of concern for regulators across the world. The fact that the majority of cryptocurrencies lack transparency, or proper management alongside their uniqueness of being a bubble and extremely volatile in nature, has kept many investors and experts on the edge to draw an outlook of this market. Once Warren Buffett viewed cryptocurrency as a gamble, without any intrinsic value and resources.

For example, when Russia invaded Ukraine in February 2022, global markets entered into a severe bearish phase owing to multi-decadal rises in inflation, supply-chain constraints, energy crises and so much more. Cryptocurrency too faced the brunt but the havoc in this market was spellbounding. Some of the key shocks were the $40 billion erosion in old Terra sisters, and the liquidity crunch in crypto exchanges like FTX, BlockFi, Celsius Network, Genesis Global Capital, Voyager Digital Three Arrows Capital, and Gemini Trust, etc.

On CoinMarketCap, currently, there are over 1.8 million cryptocurrencies including stablecoins and 670 exchanges.

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Roadmap For Regulations On Crypto Assets, Stablecoins To Be Discussed In October; What To Expect? - Goodreturns