Bitcoin & cryptocurrency news

Bitcoin in 2022 – Bullish or Bearish?

Reading Time: 3 minutes Bitcoin is on a knife edge regarding its next move There are strong arguments on both sides of the bullish/bearish argument with regard to Bitcoin in 2022 What are the reasons offered by both sides? Bitcoin is on something of a knife edge regarding what will happen in 2022, with bullish and bearish arguments being frequently aired on crypto Twitter. Both sides make good points, and of course no one knows what will happen, but what are the key reasons behind the calls on both sides? We look at the rationale behind bullish and bearish outlooks for Bitcoin in 2022

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Sketchar Starts to Build Web3 Monetization Infrastructure to Support the Decentralized Creator Economy

Sketchar Starts to Build Web3 Monetization Infrastructure to Support the Decentralized Creator Economy

Sketchar, an ecosystem of mobile and web products for creators, is delighted to announce its plans to build a Web3 monetization infrastructure to support creators in an entirely new way. As per the announcement, Sketchar has chosen to use Web3 because it is primarily built on new layers of technological innovations that will help further […]

3 Major Challenges For a Cardano 2022 Comeback

Cardano has had a very difficult time in the crypto market in the past few weeks. The price of the ADA token fell from its all-time high of over $ 3 to currently $ 1.22. The ADA token was hit particularly hard in this market correction compared to other coins. But many key figures show that the network is on the right track. What challenges does Cardano have to overcome in order to get started again in 2022? Let’s look at the 3 major challenges that will contribute to Cardano 2022 comeback.

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#1 Enhance the 3 pillars of Smart-Contracts

The 3 big pillars of smart contracts and the corresponding platforms are decentralization, scalability and security. Cardano is very well positioned in all 3 areas. However, platforms like Solana and Avalanche have made extreme strides in the area of ​​scalability and offer extremely fast transactions.

Thanks to the proof-of-stake consensus mechanism, Cardano was able to set itself apart from the market leader Ethereum, which is only going to switch from proof-of-work to proof-of-stake. However, developers need to keep working to ensure efficient yet secure transactions to keep up with networks like Solana and Avalanche.

#2 Optimize Scalability

After the first reason, Cardano must not forget to offer optimal scalability for decentralized applications. Again and again there is criticism that the Cardano Foundation is too academic in its work on the blockchain and has recently been left behind in terms of competitiveness.

Especially in the area of ​​scalability, the network must not lose touch. Even if the blockchain were to have the best technical level overall, competitors could overtake the network on the market with significantly higher scalability in terms of smart contracts. However, improving scalability is already the next step in the development of the Cardano Foundation.

#3 Establish Governance Functions

Establishing governance functions is also a development step that Cardano is working on intensively. According to Cardano boss Charles Hoskinson, the platform is working on the formation of a governance that will guarantee the participation of hundreds of companies. 

With the governance model, token holders should have the opportunity to determine future developments of the platforms on a democratic basis. The tools used are the ‘Cardano Improvement Proposals’, which the token holders can vote on. 

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Bitcoin & cryptocurrency news

Do I Pay Tax on a Scam Airdrop?

Reading Time: 2 minutes Many crypto users have, knowingly or unknowingly, received a scam airdrop in their time Sometimes a scam airdrop can be a dusting attack or just a marketing attempt You are duty bound to pay tax on a scam airdrop, but how much you pay is up to you Crypto airdrops can be a blessing or a curse. Some airdrops can become immensely valuable, whereas others are just ‘dusting’ attacks designed to prepare the way for a bigger attack on your wallet. The unfortunate thing is however that you still need to pay tax on your airdrop regardless of whether it

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