The Crypto Chronicles: Riding the Digital Rollercoaster
Hey there how are you most welcome to my blog and I am lucky ali. Today when people talk about technology they always talk about blockchain, crypto, and Artificial intelligence because these technologies are trending. We know that blockchain and crypto facing lots of difficulties but still, it is growing and going towards the mainstream.
Major events in crypto
The last few years were very crucial for cryptocurrency because major events happened within this time frame and in the end, crypto is developing. In 2022, Luna and Terra USD failed, and in November, FTS. This was a devastating time for the whole crypto community and we have seen high panic in the people.
After those failures, regulation demand has increased. because these failures were the reason for market instability, experts said that the market will be back on track and crypto winter will be over we can see that the market is going up and the current market status is a temporary dump and this will be over soon. As you can see many big ETFs are already approved and there in the Crypto ecosystem.
NFT, AI, and Defi technologies are also growing with crypto and blockchain. There was hype for the metaverse but nowadays you can see there is almost no hype of that technology but we can expect that soon it can rise. Metaverse can be useful for the environment and there are other advantages too but we also have to check its disadvantages.
The upcoming challenges for crypto
Stringent regulation, long-term viability, and environmental concerns. these are the main challenges for crypto. Let me talk about the recent case of Binance and I have also shared a post regarding it. So there are strict tax and money laundering rules in India and FIU guidelines for crypto firms. No doubt Binance is the biggest centralized exchange in the world but it still they are failed to fulfill the demands of the Indian finance system and that is why it is penalized.
Some months ago Binance was banned in India too and also 8 other exchanges. So other countries can also take strict actions like this. As the market grows, it has to face such trouble. So the way is not clear and easy for the crypto world. Also, the world's governments do not want fiat competitors so most of them are against it.
Environmental concern is a serious problem, especially for the proof-of-work cryptocurrency. The increasing energy consumption and carbon emissions of cryptocurrency mining can harm the atmosphere and contribute to climate change. However, there is a solution too for this problem and that is only for the cryptocurrency mining work.
So these are the major challenges. we have discussed crypto chronicles and I hope you liked this post. Please share this post and also do a comment below I will meet you in my next blog b bye.
Lucky Ali
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 | Hi I am lucky ali from gujarat, india. I am a crypto enthusiast, blogger, and SEO developer. I am always interested in learning new things and getting new experiences. You can find me on hive, twitter and discord (Lucky Ali#6343). Sharing is caring, Thank you hive family ♥ |
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For me I don't see proof of work as a big concern when it comes to the environment. Climate change has been an issue even before proof of work began. Moreover not all blockchain use POW. Hive is a prime example of that.
exactly that's what I am thinking and also saur energy can be helpful for mining.
I Agree with you on that. Solar is already taking over so it's only a matter of time.
right :)
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