With the rise of blockchain technology and cryptocurrency, digital central bank currencies (CBDCs) are becoming increasingly popular among global financial institutions. Around the world, CBDCs for wholesale use in financial markets are growing, with countries represented in different stages of CBDC development from research and testing to market launch. Among world powers and major countries, China is leading the race…
“More bitcoin mining using ASICs will result in incredible amounts of e-waste.” According to the calculations of Dutch economist Alex de Vries, more bitcoin mining accumulates faster rate than toxic battery waste or PVCs. The usage of adaptable processors such as CPUs results in more significant and more intensive power consumption, consuming a large sector of energy production from any…
As an added benefit of anonymity, disclosing personal identity information during a Bitcoin transaction is not necessary. That’s both a pro and con of Bitcoin – welcome to the world of BTC! The use of cryptographic private keys, visible only to the Bitcoin Wallet Address (BTC), largely conceals users’ identities from others. Anonymity is the end-all of Bitcoin and has…
Transaction fees for cryptocurrency transactions are much lower compared to traditional financial systems. If you make many transactions each month, the transaction fees charged for each transaction you make can be huge. However, data miners receive their remuneration from the cryptocurrency network and are charged much less than for these transactions. Transaction costs for cryptocurrencies are lower than those of…
Cryptocurrency has created a revolutionary change in the fintech space. For the first time when Bitcoin entered the market, it was all chaos. People were unsure about what’s happening and what kind of change one could expect from the digital currency. However, Bitcoin mining took a boom and experienced significant highs and lows in no time. Bitcoin is considered to…
After the Bitcoin and cryptocurrency, now trends the NFT, non-fungible tokens. It is an emerging investment opportunity. NFTs are becoming popular with multi-million dollar sales this year on the exchanges. The non-fungible tokens have attracted high net-worth individuals and businesses. Hence, the NFT movement is going to be big! Non-fungible tokens (NFTs) are the new digital assets that enable one…
With just a tweet of Elon Musk, the entire cryptocurrency space took a twist and turn. There’s a market open for everyone – banks, financial institutions, digital movement, and a lot. But still, there’s a bet on the “green revolution of cryptocurrency.” There are ups and downs in the crypto market, but the future is all digital currency. While cryptocurrencies…
China has been an active player in the crypto game. The country seemed more enthusiastic about crypto assets that involved mining and trading of the cryptocurrency. Of course, President Xi Jinping’s regulators have pulled away the market’s sudden growth. After the recent ban on mining and trading, the country is going around the fintech and retail world. As if the…
To the point, Bitcoin mining is entirely technical, complex, and hard. Unlike the regular bank transactions with banks acting as the agents to transfer money from one bank to another, Bitcoin has no central clearing or settlement agent. The users themselves play a vital role in verifying transactions through the process called Bitcoin mining. Although it is purely technical and…
“The earth is what we all have in common.” True that! We all have the responsibility to build, hold and create a green future – for us, to us. Although we are running towards the fast-growing tech space, it is always essential to parallelly focus and work towards a clean, green future. Be it, Blockchain or Bitcoin, all the technology…