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If 2020 is to be known as the Year of Decentralized Finance (DeFi), then cryptocurrency staking must be acknowledged for its pivotal role in the rise of this new wave of crypto assets for 2021. As the number of miners on proof-of-work (PoW) Blockchains steadily started to dwindle, the industry saw a gradual increase, and often a boom, in the number of users staking crypto to gain fixed interest or yield farming incentives, with the exception of market-leading Bitcoin.   What Is Crypto Staking and How Does It Work? Staking is a method of participating in the operation of a proof-of-stake (PoS)-based blockchain system by locking or keeping funds in a cryptocurrency wallet. It works in a similar way to crypto mining in that it assists a network in reaching consensus while rewarding those who participate. The right to validate transactions is baked into the number of coins "closed" inside a wallet in staking. Stakers, like miners on a PoW site, are rewarded for discovering ne...

Across the next five years, blockchain market size is expected to grow at a compound annual growth rate of 67.3%, going from a worth of $3 billion to $39.7 billion by 2025. These numbers indicate that blockchain is a technology capable of changing the world. Recent factors like the global coronavirus pandemic are helping to speed this change, necessitating the integration of powerful technologies that enable connectivity in a socially distanced world in which remote work has become all the more common. In three particular sectors, blockchain looks to change common policies and procedures in the wake of COVID-19, reorganizing ways in which business, security, and usability are managed. Across banking and finance, healthcare, and user experience in digital tech, blockchain technologies are growing fast both in integration levels and in the improvement of processes. The future of the world, after the COVID-19 pandemic, looks to be linking with Blockchains spreading access and secur...

Investing in cryptocurrencies can lead to enormous gains if you watch the market closely and it’s easy to get excited about watching values increase as your portfolio grows. Amid this excitement, it’s easy to forget about the looming shadow of taxes which has the power to eat into your profits quite significantly. Fortunately, there are many ways you can defer and minimize these taxes. Read on for the best measures to save on your crypto tax bill and maximize your own profits. 1 Tax Loss Harvesting   Unfortunately, investments don’t always make the gains we hope for and this is as true for crypto as any other investment. However, you can use these losses to your advantage when it comes time to cash in on your gains in other areas. Selling your reduced-value cryptocurrency to realize those losses means you can offset other gains and minimize your tax bill. 2 Investing long term The amount you pay in capital gains tax decreases the longer you hold your investment, so getting i...

What is Ethereum? Ethereum is an implementation of blockchain technology that can run smart contracts. The Ethereum virtual machine is Turing complete and can run arbitrary computation directly on the blockchain network. Whereas Bitcoin has a limited set of commands, an Ethereum contract allows an application developer to specify exactly what transactions can be performed on a contract. What are Smart Contracts? Smart contracts can enable blockchain users to exchange money and property or perform other actions among a group of users such as voting without any central authority. For the Ethereum platform, the smart contracts are defined using a language called Solidity. Ever since its release, Ethereum Blockchain has become the talk of the town due to its two USPs, Smart Contracts and Decentralized Applications (DApps). The blockchain network allows businesses and developers to create any number of smart contracts and DApps they want. DApps are decentralized applications that ru...

Over recent years, driven by demand from traders, margin trading has become exponentially more popular. From late 2017 onwards, many established spot exchanges, including Binance and Huobi, started offering margin trading of cryptocurrency futures and perpetual swap contracts, effectively replicating the BitMEX business model. At the same time, new margin exchanges, such as Bybit and FTX, also entered the market. With so many new entrants to the margin trading market in such a short space of time, it’s evident that exchange operators are eager to meet the demand for margin trading. What is Margin Trading? The concept of margin trading comes from traditional finance, where a broker will lend funds to their clients so they can open positions of a higher value than the available balance on their account. Borrowing funds magnifies the potential for gains and losses. However, traders are willing to expose themselves to the additional loss risk for the opportunity to gain from smaller mo...

Bitcoin and Ethereum cryptocurrencies have recently got very famous and people are crazy about it. Blockchain is the reason for the success of these cryptocurrencies. Every industry is acquainted with the benefits of blockchain and is utilizing it. Since the technology revolution is expanding every day, almost everything is done digital. Thus, it calls for the most crucial aspect, i.e., security. Blockchain is a superhero that provides a safe and secure gateway for transactions. As the name suggests, it is a chain of blocks. Block refers to digital information, and the chain refers to the public database. It is used in Healthcare, property records, smart contracts, supply chain use, etc. Why do we need blockchain for data storage? The traditional way of storing data is by using cloud storage. It has a great demand and, thus, is prone to misuse. The major disadvantage being all the information is centralized. Data becomes vulnerable and is not usually encrypted during transactions....

What is Tokenomics? Tokenomics (token economics or crypto-economics) study the economic institutions and policies of the distribution, production, and distribution of goods and services that have been tokenized. Blockchain technology has become the driving force of innovation on the internet.  Such developments have mobilized economic transactions that rely on tokens and do not require centralized intermediaries like banks or big enterprises. The nature of these commercial systems differs from the traditional industrial economies as their characteristics are decentralized, requiring very little capital to scale, and offering significant security of transactions. What is a Token? Tokens, in a general sense, are units of value issued by an organization, but in the context of Tokenomics, it is more specifically built on top of an existing blockchain. Tokens have been rebranded with the advent of blockchain, but tokens have always been around. Concert tickets, gym membership card...